Are you leveraging shoppable media as part of your eCommerce strategy? Sales from the buying and selling of goods on social media is expected to reach $36.09 billion in 2021, an increase of 34.8% over last year. That’s incredible growth in just one year, and it holds huge potential for brands that want to take every opportunity to expand their reach.
Shoppable media offers a direct approach to purchasing. For example, an influencer live streaming about a product might include a link to the product. Users can then purchase the product on the spot without being redirected to a separate website. Not to mention, platforms like Facebook, Instagram, and TikTok have integrated their own marketplace-like eCommerce systems into their apps.
Thanks to this evolution in social media, buying and selling goods is no longer exclusive to a brand’s D2C website or online marketplaces like Amazon. Now, social media platforms have joined the ranks where e-commerce can thrive. As a result, brands and advertisers are facing the pressure to be in yet another landscape to stay relevant.
Social commerce was still in its infancy stages in 2019. When the pandemic happened, its evolution accelerated. Social media is evolving into a destination where the power of advertising can go even further, now that audiences can shop and make purchases directly within the apps.
Digital marketing is about meeting your customers where they are and reducing friction as much as possible to encourage conversions. Today’s consumer is on social media more than ever, which is why shoppable media is becoming the fastest-growing ad category.
Brands and advertisers can’t afford to resist leaning into social commerce. The age of convenience-driven decision-making is determining which brands are the most successful. If your brand doesn’t have a social commerce presence on the social apps your audience uses, you risk losing sales to competitors that are making it easier for customers to purchase.
We’ve all seen what can happen when brands fail to evolve. While no company wants to pour resources into a trendy new tactic that may not last, shoppable media is different. This is an approach that shortens the distance between discovery and purchasing. And the push for convenience is only growing, and it’s not likely that social commerce will slow down.
In light of this, brands should continue to evaluate their budgets for shoppable media and reallocate resources when necessary. Even though widespread shopability primarily benefited online marketplaces like Amazon, Walmart, and Instacart, social media, streaming, and even gaming platforms are paving the way for the future of shoppable content.
Also, remember that shoppable media is continuing to evolve beyond what’s already available via apps like Facebook, Instagram, and TikTok. There will likely be many more options available in the near future, so keep looking forward to capitalizing on new opportunities as they arise.
Keeping up with the latest platform features and activating campaigns in real-time is crucial to your success. However, it can be a challenge to master a new platform or even a new concept like social commerce before your competitors. We understand how overwhelming it can be to discern which areas of media, creative, and commerce are worth focusing on and investing into.
At Code3, our teams of digital natives are at least two steps ahead and support our clients in an ever-changing environment. We’re constantly testing new concepts like shoppable media as they emerge and put our findings to work for our clients.
Feel free to reach out to discuss how to bring your social selling strategies up to speed and compete in today’s landscape.