eCommerce – The Social Dimension

The second decade of the third millennium has made it hard to recall what the world looked like before the advent of social media and the associated eCommerce. Since the mid-2000s, social media platforms have exploded and literally changed the way the world lives, works, learns, and plays.

By early 2021, there were already 4.2 billion active social media users, each spending over 2 hours daily on average on social networks and messaging. Clearly, the long-tail impact of social media is playing out and will continue to do so in the foreseeable future.

Over the past decade and a half, social media has evolved from its original premise, i.e., a way for individuals to socialize, have personal conversations, and engage in personal or professional networking to playing a critical role in the “purchase economy.”

The sheer volume, velocity, and diversity of transactions on social media platforms show that we are on the brink of a new era of eCommerce driven by social media.

The impact of social media On consumer buying decisions

As per recent analysis, 54% of people use social media to research products. Social media also makes it more likely that 49% of users will try a new or previously unknown brand. And perhaps most importantly, social media referrals influence 71% of consumer buying decisions.

How does social media influence these decisions? Here are the three key ways:

Peer recommendations and social proof

Social proof has perpetually played a role in human decision-making. People often ask their friends and family for recommendations on which product to buy, which features to focus on, and which brand to trust (or not). But now, consumers can ask for the opinions of their social media “family” on a much broader scale.

The recommendations and criticisms of social media users can instantly be seen and heard by – and influence – thousands of other users. According to Forbes, a whopping 81% of consumers’ purchasing decisions are influenced by their friends’ posts on social media. People trust the opinions of their friends and even strangers on social media, which influences how they research, compare, and buy products online.

The influence of influencers

Andrew Arnold, on Forbes, writes that just “5% of the social media influencers offering product recommendations [drive] 45% of social influence” for certain consumer product categories. Likewise, another report reveals that almost 40% of Twitter users make purchases as a direct result of an influencer’s Tweet.

Like friends and personal connections, influencers have earned the trust of their followers. The greater the trust and the more compelling their message, the more power they have to persuade buyers to make a purchase. Millennials, in particular, are most likely to be influenced – 84%, according to Gartner – based on social media content.

Buyer journeys are shorter and driven by eCommerce

Pre-social media, buyer journeys were longer but less complex. For instance, before purchasing a refrigerator or handbag, almost all would-be-buyers learned about the product from TV, radio, a newspaper, or a magazine. Occasionally, they would ask a friend for advice or seek recommendations through old-school means like face-to-face or telephone conversations. After considering the information at hand, comparing their (limited) choices, and finalizing their budget, they finally purchased the product. Depending on the product type and cost, this buyer journey took days, weeks, or even months.

In this day and age, this journey takes just a few hours or minutes. Through social media, a consumer can look for product information, check other users’ ratings, ask about customer experiences, and review recommendations. Then they can go to the product’s eCommerce store and order it in just a few clicks. Research is effortless and the shopping experience even more so. No wonder buyers influenced by social media are 4X more likely to spend more.

COVID-19 and the unprecedented eCommerce catalysis

Starting in March 2020, when so many brick-and-mortar businesses closed, buyers turned to eCommerce and social media for purchasing.

More than a year later, consumers are now more likely to be influenced by brand advertising, user-generated content (UGC), and influencer posts – on social media. No wonder 79% of users say that they’re now more inclined towards shopping on social platforms than they were a year ago. That goes to explain why brands have increased their social media marketing spending by 74% in a matter of a few months.

These pandemic-inspired shifts are not limited to B2C companies. B2B companies, too, are increasingly looking to leverage the purchasing influence of social media. In 2020, 91% of B2B organizations used social media platforms in their marketing mix, including TikTok, Instagram, Facebook, Twitter, and unsurprisingly, LinkedIn.

The Need for Growth Marketing in a Social Media Purchase Economy

The way people approach the purchase experience has changed due to social media. Today, buyers (both B2B and B2C) leverage these platforms to research products, engage in product discussions with others, and accordingly/subsequently make their purchases. For all these reasons, social media is, unsurprisingly, a crucial component of the marketing mix.

But in an already crowded, super-noisy social media landscape, it’s getting more difficult for brands to stand out and capture the attention of their audience. Further, many struggles to create unique content and deliver online experiences that encourage audiences to connect with (and stay connected with) the brand.

To address these challenges, businesses must invest in social media growth marketing. An experienced growth marketing agency like Ignitiv can help leverage the true power of social media to craft integrated digital experiences, influence more customers, and move them down the purchase funnel. To know how Ignitiv’s unique growth marketing strategic framework can supercharge your business’ social media presence, click here.

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author: Name of Author     Date:Jun 2,2021

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Ignitiv, a leading eCommerce agency is proud to announce the addition of a new customer, United Hardware. Ignitiv will deliver to United Hardware, a state-of-the-art eCommerce solution powered by Kibo Commerce’s Unified Commerce platform. United Hardware aims to use eCommerce as a driver for, both, business growth and enhancement of customer experience. Once live in Q3 2021, the site will allow customers to get rich product information, check for availability in nearby stores and buy online to pick up in stores. Store managers will also get the flexibility to communicate their offers and promotions.

Doug Audette, CEO of United Hardware, said, “Building a modern personalized eCommerce site is a strategic push to enable our dealer stores to present a better omni-channel experience for our customers”.

Rajib Das, CEO of Ignitiv, added, “With our home improvement industry eCommerce solution built on Kibo, we are delivering, within budget and time the solution that enables United Hardware to execute on growth and customer experience”.

United Hardware Distributing Co. is a dealer-owned corporation based in Plymouth, Minnesota which provides distribution services for about 610 member-owned stores operating under the Hardware Hank trade name.

#unitedhardware #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce

 

Coastal Construction Products Partners With Ignitiv and Kibo to Jumpstart eCommerce Growth

“With this solution, we want to establish and sustain digital leadership in the construction industry." - Tim Lavinder, Director of Digital Strategy at Coastal

CUPERTINO, CALIFORNIA, US, May 28, 2021 /EINPresswire.com/ -- Ignitiv, a leading eCommerce agency, and Kibo, the leader in unified commerce, are announcing that Coastal Construction Products has selected Ignitiv and Kibo to jumpstart their B2B Commerce growth with Kibo’s Unified Commerce Platform. Coastal’s B2B Commerce solution will combine unified omnichannel B2C-like experiences with streamlined B2B processes. Coastal’s business customers will get personalized product information, rich associated content, real-time inventory updates, customer and job-specific pricing, and the ability to order quickly and in a streamlined manner – all leading to a superior experience.

Coastal will also benefit from a seamless integration between Kibo and Prophet21 ERP software using SimpleApps’ REST API.

Tim Lavinder, Director of Digital Strategy at Coastal, said, “With this solution, we want to establish and sustain digital leadership in the construction industry. Our goal is simple - deliver real and unique value to our customers through a tool that puts their needs first.”

“Coastal’s strategy to create unified ecommerce experiences for their customers is the best way forward in our omnichannel world, continually improving performance and process at across every customer touchpoint. We’re excited to partner with Ignitiv and Coastal as part of their integrated, data-driven approach,” said Brian Wilson, COO, Kibo.

“Great mobile-first design that optimizes the customer journey, a platform that combines Commerce, Order Management and Personalization, and comprehensive integration to ERP are the three levers we are using to build a platform for growth for Coastal Construction Products,” said Rajib Das, CEO of Ignitiv.

Coastal Construction Products is one of the largest independent distributors of caulking and sealants, waterproofing, concrete repair, and fire protection products in the United States. With roots going back 40 years, Coastal Construction Products has worked with its construction industry customers across the Southeast and the Caribbean, assisting them with quality materials and support.

About Ignitiv
Ignitiv is a full service agency that combines strategy, digital marketing, technology and customer analytics expertise to help craft integrated digital experiences that deliver more customers, more revenues and more profitability. Ignitv is the partner of choice for Home Hardware, Canada Post, United Hardware and Bi-Mart.

About Kibo Commerce

Kibo is the only extensible, unified commerce platform that delivers personalized, omnichannel experiences. The platform combines AI-driven personalization from industry leaders Monetate and Certona, omnichannel commerce for B2C and B2B models, enterprise-grade order management, and AI-driven point of sale. Global clients like Office Depot, Taco Bell, and Patagonia rely on Kibo's API-first, microservices-based architecture to support a wide range of commerce strategies, including headless commerce, that meet high growth goals and customer expectations at a manageable cost of ownership.

#ignitiv #leadtheexperienceeconomy #coastalconstruction #ecommerce #kibocommerce #unifiedcommerceplatform #prophet21

 

United Hardware to fuel eCommerce growth with Ignitiv and Kibo

Ignitiv, a leading eCommerce agency is proud to announce the addition of a new customer, United Hardware. Ignitiv will deliver to United Hardware, a state-of-the-art eCommerce solution powered by Kibo Commerce’s Unified Commerce platform. United Hardware aims to use eCommerce as a driver for, both, business growth and enhancement of customer experience. Once live in Q3 2021, the site will allow customers to get rich product information, check for availability in nearby stores and buy online to pick up in stores. Store managers will also get the flexibility to communicate their offers and promotions.

Doug Audette, CEO of United Hardware, said, “Building a modern personalized eCommerce site is a strategic push to enable our dealer stores to present a better omni-channel experience for our customers”.

Rajib Das, CEO of Ignitiv, added, “With our home improvement industry eCommerce solution built on Kibo, we are delivering, within budget and time the solution that enables United Hardware to execute on growth and customer experience”.

United Hardware Distributing Co. is a dealer-owned corporation based in Plymouth, Minnesota which provides distribution services for about 610 member-owned stores operating under the Hardware Hank trade name.

#unitedhardware #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce