Reports find that almost 80% of retailers and marketers say social media delivers strong return on investment. Many industry experts say that the future for online retail sales is social media. After all, social media channels are becoming sales channels themselves.
Mobile activity by users as well as marketers increases social media importance. The evolution of social media platforms is becoming more commerce oriented. Many already offer sales features and online shopping solutions.
Social media may still only be responsible for a smaller portion of online retail sales, but its impact is becoming impossible to ignore. Social Media driven retail sales and traffic are rising at a faster pace than all other online channels.
Retailers and brands should establish themselves on key social media channels for their target demographics. These accounts should be optimized and managed properly. Attractive customization should be done as well to make them appealing to fans and followers.
Companies should utilize social media channels that already offer online shopping features such as Facebook. A multi-channel sales approach is critical to online success. It is the reason why social media channels are the future for online retail sales.
The top 500 retailers earned $3.3 billion from social shopping in 2014, up 26% from 2013, according to the Internet Retailer’s Social Media 500.
Facebook continues to grow its lead as the dominant social media commerce platform. Facebook accounts for 50% of total social referrals and 64% of total social revenue. The site’s aging demographics could make the users and consumers a strong target for retail sales.
Other social media channels such as Pinterest, Instagram, YouTube, and Twitter have smaller market shares. Twitter seems to be losing ground as a merchant marketing platform, while many other channels are growing. Each company and retailer should identify their key channels for their target audience.
Retailers that are not sure how to go about it, but want to increase retail sales should work with experts. Professionals know how to market products and retail bands on social media. Companies can obtain the services of experts through social media marketing or some general marketing services that include social media. For best results, retailers should get a consultation and make and informed decision.