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The rising vogue of social media is allowing marketers to build a powerful relationship with the customers. Reaching out to the customers through social media websites is the emerging trend of marketing these days. It has become a pivotal tool when it comes to brand building and engaging potential customers.The Strategy is to capitalise on customers by making them feel connected to the brand and lead to advocacy and loyalty. On the other hand it has enabled the average customer to have a better interaction with high end shopping firms and has encouraged the users of social media to eloquent their affinity or dislike towards the product or service.This is what the traditional shopping looked like: You get into your favourite store, slowly walking from rack to rack , checking out the display and putting a dress over your body to see if it suits you or not in the nearby full view mirror and ending up buying the perfect size for yourself.
Today, shopping is scrolling through your Instagram in the back of an uber, finding the product you like, tagging a few of your friends to get a second opinion and finally placing an order right off your smartphone through e wallets. Thus, the rising trend of social media platforms has created opportunities for new Business models and delivery policies in electronic Commerce which is referred to as social commerce.Social commerce is a phenomenon that has changed the way people think of online shopping. Where online shopping is traditionally private , social commerce encourages sharing. Let us take shopping via sites offering daily deals.There is a sense of urgency when it comes to daily deals because of time limitations, but then it offers huge discounts with each purchase.
Along with these discounts, consumers are often rewarded when they share deals with receiving incentives such as referral credits. Consumers are also encouraged to share these deals because it allows them to be seen as an instigator and a valuable online connection. In the recent years ,social media channels which include, but are not limited to: Twitter, Facebook, Instagram, Pinterest and YouTube have all jumped into the social commerce game in one form or the other. But the question remains: Is social media really the ideal place to buy and sell? The reactions are mixed but this hasn’t discouraged companies from adopting Social Commerce as a new source of marketing.Some of the social media channels are willing to bet the answer is yes!. One report by Deloitte found that 47% of millennials say their purchase decisions are influenced by social media. For perspective, the figure is 19% across all other age groups.The millennials pay more attention to the inputs from their peers about what product is best for use than to the marketing messages of brands. Still this knowledge helps marketers to grasp consumers relationship with social media to influence shopping.
According to Forbes-The effect of social media influence over purchase decisions is a powerful one. Consumers who include social media as part of their shopping process are four times more likely to spend more money on purchases. They’re also 29% more likely to make a purchase on the same day when using social media to make purchase decisions.Pinterest’s “”Gifts feed”” specifically features Product Pins with pricing, availability and buy links. And Forbes called Instagram “”the world’s most powerful selling tool”” due to the success of its sponsored posts, which have significantly increased the brand engagement and awareness for early adopters since their debut in November 2013.The social commerce game is changing with each Innovation and businesses of all types and sizes should be ready to adopt these changes.
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