eCommerce Opportunities in Social Media



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Provide more customer interaction
Nowadays most of our time spent online is on social media websites[1] , thus a company has the best reach by focusing their eCommerce strategy through websites such as Facebook, Twitter, LinkedIn, media sharing sites, blogging communities etc. Social Media provides the least resistance to a company's advertising strategy, and their target customers are more easily filtered so money is not wasted advertising to the wrong people. Most importantly, the engagement with the customers is increased by providing a more interactive experience. For example, a company can have their own Facebook page, gather fans, offer promotions to those who become a fan or "like" the product or company and increase the overall word of mouth effect, without customers having to say anything directly but by the use of Facebook social plugins. In addition, it creates a viral marketing effect through the use of promotions such as with the Whopper Challenge and IKEA showroom campaign.



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Increase Sales
As a result of increased interaction, more distinct networks, and customer engagement, sales are increased. Social Media has diverged from just being a hangout place, to become a sales channel.
The following video demonstrates how a company developed eCommerce software, allowing anyone to set up an online store. They integrate the software with Facebook Marketplace, providing an easy way to sell things over the internet.[2] The company is Fortune3, and the software is Fortune3 Social Shopping Cart App (Facebook Social Store Creator) and social media Widget integrations with the Fortune3 ecommerce software and shopping cart.

Ecommerce-Social-Media-Marketing-Software[www.savevid.com].mp4




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Strengthen Client Relationships
Social Media networks such as Facebook, work better for B2C C2C marketing, however, when it comes to B2B marketing, LinkedIn, Twitter, and YouTube are the more useful tools. Not only for Marketing, but also building business connections. When it comes to B2B marketing, LinkedIn and Blogs are the more popular tools used for two way communication....while Twitter and Facebook are used for mostly one way communication.
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*Arrows representing one way/ two way communication[3]



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Overall Impact of eCommerce via Social Media

The move from traditional commerce to social media has grown exponentially. Its not just advertising, its customer interaction that has contributed to the success of eCommerce through social sites. Perhaps social media will take over the advertising world, or maybe another new trend is waiting to appear just around the corner. Either way, with the increase in popularity of shopping online, if a company fails to utilize this form of eCommerce, they risk getting lost in the crowd and missing out on the opportunity to succeed through low cost advertising and real time customer feedback.







References


  1. ^ http://www.toprankblog.com/2011/01/social-media-marketing-strategy-commerce/
  2. ^ http://www.fortune3.com/en/social_shopping_cart.shtml
  3. ^
    http://www.iamwire.com/2011/10/social-media-opportunities-in-b2b-ecommerce-space/