Social Commerce: Additional Outlets, Exposure, Buzz, and Revenue
Dan Loney is a Social Media Strategist for TabJuice
Social Commerce: An Additional Outlet
“More than half of small businesses agree that Facebook is beneficial to their business.” ~ Ad-ology, November 2010
Every small business owner is looking for an additional source of revenue. There are 750,000,000+ Facebook users who are a few clicks away from making a purchase. You want as many of these users coming to your Facebook Fan Page. The online market has become so segmented that it is unique to find a platform that is so ripe with potential customers. Accordingly, great efforts have been made to create amazing Facebook storefront applications, such as TabJuice, which are geared towards getting the most exposure and revenue to your online business.
Social Commerce: Additional Exposure
“76% of Fans have not “unliked” a Brand on Facebook.” ~ Consumer Pulse, January 2011
As a store owner, it is a misconception that you are at the mercy of the Facebook community to find you once you launch a brand page. Like a sales person, you must go out there and find your leads. If you have an online presence or a physical store, go ahead and leverage those channels to build your fanbase.
The beauty of having a Facebook fanbase is that as soon as you have any sort of new product line, clearance sale, or promotion, your fanbase will instantly know about it. It is as if they are sitting in front of a television and your commercial is airing at the same time. However, unlike a commercial, this is for free.
If you want to take that a step further, incorporating some paid search into your budget is as if you know the exact television station your fan base is watching, and youre playing a commercial directly to them. If that is an intriguing option for you, simply figure out whether doing a standard ad or a unique Facebook story is best for your business.
Social Commerce: Additional Buzz
“83% of online shoppers said they are interested in sharing information about their purchases with people they know, while 74% are influenced by the opinions of others in their decision to buy the product in the first place.” ~ Manage Smarter, September 2009
Depending on the “likability” of your product, brand advocates will be writing on your wall, and sharing your products on their friends wall or personal wall, increasing your brand exposure and impressions. Impressions can be made from a fan simply clicking “like” on a brand page or going as deep as sending a private message about one of your products to one of their friends. As Facebook launches its new Open Graph, which was revealed in the F8 conference, stores will have the ability to create additional buttons such as “want,” “love,” and “own,” adding another dimension of personality within a store.
To create more engagement and buzz, another option is to start a simple promotion. Successful promotions usually tap into your fanbases interests. Especially in a technologically savvy social era, people love to express and showcase their passions, whether it is food, art projects, their kids, hobbies, or talents. There are specialized programs that integrate with Facebook to run promotions, including analytical tools. Social is the personalized gift that keeps on giving as friends do the work for you, as opposed to an advertiser.
Social Commerce: Additional Revenue
“There were nearly 116 million US user-generated content consumers in 2008, along with 82.5 million content creators. Both numbers are set to climb significantly by 2013.” ~ eMarketer, February 2009
When it comes to brand recognition and image, it is always best when your social commerce brand page is an extension of your brand both in content and appearance. When it comes to Facebook user experience, purchasing directly within the confines of Facebook is beneficial, as most users dont want to be booted around to external websites. Using a social commerce storefront application such as TabJuice, which is remarkably free, allows store owners to do both: maintain the brand image (with its comprehensive storefront designer) and stay within the application all the way through checkout (with its secure, advanced payment gateway).
While the concept of social commerce is in its inchoate stages when it comes to the mainstream consumer vernacular, the industry and consumer base will only continue to expand. As more people populate and interact with social networking sites, users will adapt their online behaviors as well. Most small businesses are looking for that slight edge against the competition. Perhaps this could be your edge.