Are We Ready For Social Commerce? [Includes Infographic]

Are we ready for social commerce?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.

Social Commerce Opportunity

Click here to look at the full infographic (courtesy of Moontoast)

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.

The state of social commerce

Infographic courtesy of ArgyleSocial.

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  • http://fusionmarketingpartners.com/ Jacob

    Fascinating infographics, here.  I think sharing any content you can find that may be relevant to your customers is an important part of the social media experience. That’s where the “social” part plays in.

  • Michelle Kosik

    I couldn’t agree with you more. I would like to speak with you if possible. My name is Michelle Kosik 561.676.8407.

  • AnnMullen

    You are right. We aren’t necessarily asking for a call to action on our Fan Pages. I do things like ask simple questions, have trivia and ask for cartoon captions, but I don’t ask people to make contact. Thanks for getting me thinking.

  • http://twitter.com/SmallBizTriage Small Biz Triage

    I would say definitely not.  I’m not comfortable allowing a volatile third-party that loves changing things up handle such a sensitive transaction as handling my customers’ money.

    How can I ask my clients to trust a platform that is notorious for being a moving target? I honestly feel awful selling basic Facebook Landing Pages to my customers now that they are going away. I’ll be doing a lot of free work to reinforce the damaged trust I’ve taken years to develop.

    Now imagine something like that happening when actual cash is involved.

  • https://www.rapidsslonline.com/quickssl-premium.aspx GeoTrust QuickSSL Premium

    Agree, I believe that we should make our promotion aggressive on Social Platforms without any fear for that we should put call an action button on fan page or business page. Thank you so much for sharing crucial matrix and also to make aware for aggressive promotion through Social Media.

  • http://www.antonkoekemoer.com/ Anton Koekemoer

    Great Post! Thanks for featuring some great info graphics. Thanks for a pleasant reading experience. 

  • http://www.socialdon.com/ Facebook Statistics

    Market trends tell us that much in the same way eCommerce had early
    users with higher adoption later, so too “social commerce” walks this
    same path. Good post and very detailed based infographics shared.

  • http://www.facebook.com/sushil.raju7 Sushil Krishna

    Great piece of info.

    Thanks..!

  • 894752670

    哈哈

  • http://www.blake.co.za/blog/ Sarah

    Thanks for the informative post. I think companies are just jumping at the thought of using social media for the sake of it and not reading enough into it. Therefore resulting in things like their f-commerce having to be shut down. 

  • http://www.socialannex.com/ SocialAnnex

    I think many brands are missing out by not including special deals/sales/incentives into the marketing when using Facebook, Twitter, etc. It throws a little switch in a user’s head when he/she sees that there’s a discount if they “act now.” 

  • http://www.number95.co.uk/ Candi Fraley

    I know I am. 

  • http://www.wasteadvantagemag.com/ Joseph Culpepper

    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.

  • http://everythingfla.com/catagory/live/flashtent11/away3d-4.html Anissa Motley

    I’m the author of SocialMouths. I also help entrepreneurs and small
    businesses turn their vanilla “web presence” into a profit powerhouse
    using techniques on social media, content and email marketing to
    generate traffic and convert to leads and sales.

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    Those are some impressive numbers right there. But what’s really going on today?

     

  • http://www.cyberlinkmedia.com/ DanceF

    F-commerce will undoubtedly prove successful and in fact there are very good examples already. 1-800 flowers for example made $70 million last year from Facebook.
    It will be interesting to see how long the F lasts… I think it will do much much better in the near future.

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