We can’t deny the growth in participation on social networks in the recent years. Today we use these platforms for a wide variety of reasons and we feel more comfortable than ever in them.
But are we ready for social commerce?
I remember an interview I did back in October with VenPop about Social Commerce. Since we were approaching the holidays one of the questions was about my thoughts on what we should expect. One of the things I said was that while Facebook clearly has the prospect, now it needed to establish itself as a solid retail platform.
If you think about it, 2011 was the first year we looked at the social web as a possibility to carry actual transactions, not just as traffic generators or promotional channels.
Back in November, Moontoast made public an infographic that included part of the research by Gartner, in which stated that by 2015 brands will be generating 50% of their web sales through social media and mobile platforms with a projection of $30 Billion.
Those are some impressive numbers right there. But what’s really going on today?
Today, just a couple of months after the holidays, we are seeing how some major brands are shutting down their f-commerce storefronts.
Let’s do a quick exercise between you and me: If you are here is because you are at least above the typical social network user, I know I am. You’ve probably purchase products online before. Have you purchase anything through Facebook? I have not.
So let’s take a look at this new infographic from ArgyleSocial, which perhaps brings a more realistic view of the state of social commerce.
The main points here are:
- Audience size doesn’t always translate into more revenue. Smaller brands tend to have bigger audiences and I think this is due to better communication strategies
- Only 17% of the brands included in the study feature products and 4% have integrate Facebook checkout features
- Brands are not asking for a sale. 49% never include calls to action in messages on Twitter. 44% on Facebook
- Only 29% include special offers/deals on posts (Even though we know most people “Like” brands to get access to them)
- 65% of the brands only share their own content
- 91% do not use premium social media management tools and rely mostly on free solutions
How about you?
Most of these stats usually talk about brands, which doesn’t mean we can’t learn from them. I always love to look at things from a small business point of view also and see how all this can be applied. We, as entrepreneurs, have the advantage to become aware and adjust a strategy much faster than a big corporation.
Are you already selling your products on Facebook? Are you planning to do so? Or from the consumer side, are you making purchases on social platforms like Facebook? Share your thoughts!
Enjoy the infographic.
Infographic courtesy of ArgyleSocial.