Social media has proven itself to be a great way of generating brand awareness, customer loyalty and satisfaction, and increasing website traffic in the hope of reaching new customers.
With an increasing number of users making their purchases online, social media has also become an important channel for e-commerce.
According to Statista, 30% of users report having purchased something through social media.
And that’s not all.
70% of consumers read reviews of products they intend to purchase on social media platforms like Pinterest, Facebook, and Instagram.
What does this mean?
Well, it means that social media – and social advertising – should be considered an integral part of your e-commerce strategy. Doing so does not only contribute to revenue increase, but it also helps your brand stay afloat in times of crises such as COVID-19.
Why is social advertising relevant to your e-commerce strategy?
- Ever-changing algorithms take a toll on organic reach. Giving Facebook free rein to decide on your content distribution can be counterproductive. You can attain high engagement and reach, but you might not necessarily be reaching the right audience. With paid advertising, you and only you get to be the decision-maker.
- The social media landscape is competitive, and that can make it challenging to get the highest level of attention/visibility. For that reason, if you want to be seen, it is worth giving your social strategy a little boost 💰. That way you get to be present at the right time in your customer’s journey.
- Paid advertising makes your targeting razor-sharp, as it allows the use of multiple parameters, varying from people’s interests, to location and consumption patterns.
- You’re able to optimize your ads to your business objectives, thus scaling revenue and making every penny spent count.
“It’s not just about being present, but it’s about being present in the right time, and with the right content”
In short: While social media is known for its awareness ability, it is also a powerful driver of sales. For that reason, it is critical for businesses –and retailers in particular– to have a strong presence on social as it can play a crucial role in the sales funnel. But…
On July 16th, we hosted a webinar on How Social Can Drive Your E-Commerce Business, where we discussed the importance of e-commerce and social advertising to grow your business. Sharing is caring, which is why we’re covering the most relevant questions asked at the webinar (and their answers!!) down below – so scroll on!
Questions from the audience that’ll help you optimize your e-commerce business:
Q: How can retailers make the most of increased retail e-commerce growth, and how can they meaningfully use the data & personalization opportunities that drive the online world to make the most of customers’ increased online demand?
A: Conducting research and interviews with key customers and gaining a deep understanding of the behavior of your audience is critical. Such research allows you to create personalized and meaningful content to follow your consumer on their journey. Something to remember, however, is that creating personalized experiences is not just about posting at a certain point in time. It is about thinking what your goals are, and when would it be most beneficial for you (and your potential customer) to be exposed to your content. To bring people down the funnel, you’ve got to ask yourself where you want to take the consumer, and what is it that you need to do to take the consumer to such promised land.
Fred L. asks:
Q: Is there a way to find out or research what categories or topics are most popular or have the most engagement on Pinterest?
A: You must think about the category your brand belongs to or makes more sense to be associated with. Go to the platform itself, conduct searches for whatever you think makes sense in your category, and see what comes up and what other people are engaging with. Once you get into the building section of Pinterest, it will show you how many search queries there are for a specific phrase, word, or topic every month.
Q: How can you advertise CBD products when ads are banned by Facebook?
A: There’s a lot of different products and services, including gambling and tobacco, where advertising is not allowed, but organic posting is. So that’s your workaround. It does indeed pose challenges, but if you are operating in an industry that’s regulated or enforced it by policies of the platforms, you can perhaps look for alternative channels outside the digital realm to convey your message. At Zippo, we experienced that a little bit too is with our product. Because the product is a portable flame, it was highly associated with tobacco. Because our product is not a tobacco accessory, we spent years trying to convince the social networks that that’s the case. And that’s why we now can advertise as we are ultimately a portable flame or lifestyle product.
Q: What are the best ways to acquire new consumers online?
A: The best way is to use a broad audience targeting in the user journey. That is about hitting people based on demographic, interest targeting, and look-alike audiences focussed on individuals that you know have purchased or engaged with your brand before. It is about casting a wide net to anybody you think your brand will resonate with, and then warming identified audiences into conversions.
Jonathan Josephs-Spaulding asks:
Q: How effective is social media marketing for a recently established e-commerce start-up in comparison to a well-established brand such as Zippo?
A: There are plenty of examples of new startups that have leveraged the power of social to grow the brand to a whole new level. Influencer marketing can be a great channel to grow your brand, though this highly depends on the industry you operate. When considering influencer marketing, it’s important to highlight the shift from macro-influencers, who have a large price-tag attached, to micro-influencer. Having micro-influencers is not only a cost-effective way to increase awareness but also it will make your brand seem more genuine and authentic.