Social commerce on the rise
Another trend in marketing that is here to stay this year is social commerce, which is a form of e-commerce. Social networks and platforms are used to sell products and services.
The term was first coined in 2005 by the Yahoo! platform to describe the sale of products and services via social networks and platforms. Since then, social commerce has become a major e-commerce trend used by companies of all sizes and industries.
Social commerce uses the social functions of platforms such as Facebook, Instagram or Pinterest to promote and sell products and services. For this purpose, for example, advertisements, product catalogues or purchase options can be used directly within the platform. The possibility of discovering and buying products through recommendations from friends or influencers also plays an important role in social commerce.
A major advantage is that companies interact directly with their target groups and obtain customer feedback. The possibility to make individual offers or personalised recommendations to customers also contributes to the success of social commerce.
One application example for social commerce is the sale of products via Instagram shops. Here, companies have the opportunity to present their products directly in their Instagram profile and offer the possibility to buy directly within the platform. It is now also possible to open your own shop and sell products on Facebook.
Social commerce thus opens up new opportunities for companies to sell their products and services. However, in order to ultimately benefit from social commerce, companies must take into account the individual functions and target groups of the different platforms and develop a good strategy.
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