Although social commerce sales in the U.S. are currently a mere one-tenth the size of China’s market, it is gaining traction nationwide. And if the staggering growth in China is any indication, we’ll likely see an explosion in consumer adoption — and revenue creation — over the next five years.
To capitalize on this growing opportunity, brands, retailers and even grocers are sharpening their social media strategies and placing authentic content creation at the center of everything they do. A recent Hit List published by Retail TouchPoints spotlighted five brands that have implemented best-in-class approaches to influencer marketing, livestreaming and digital selling to drive social revenue. Here’s how you can learn from their experiences.
Tap into the creator economy
Instagram and TikTok are brimming with content creators who are dedicated to building their businesses. These creators, whether nano-, micro- or macro-influencers, have cultivated communities who eagerly consume their content and hang onto every product recommendation they make. Companies like MVMT are tapping into this vibrant ecosystem by building partnerships with creators who represent the aesthetic and lifestyle of their brand.
But the reality is that building relationships with creators and managing all components of the partnership takes a lot of time and manual effort, especially if brands are looking to expand their strategy across different social platforms. The watches, jewelry and accessories brand adopted GRIN to streamline and scale its influencer marketing efforts, making it easier to create unique promo links for influencers, send products and manage content visually. Team members can categorize content and compare the work of different creators to best prioritize future relationships. MVMT has access to more than 32 million influencer profiles and has formed relationships with creators who have created 39,000 pieces of content.
Create digital, personalized service
Social platforms are the ultimate “digital watering holes.” People of all ages and backgrounds venture to their apps of choice to connect with each other, learn from each other and discuss a shared love for a topic. Brands have the unique opportunity to position their associates and service reps as the ultimate sources for insight during live shopping moments.
For example, Galeries Lafayette saw a 94% average customer satisfaction rating from a new live shopping experience that allowed consumers to shop 36 different luxury brands with the help of a personal shopper. The “Exclusive Live Shopping” functionality gives consumers access to products that were previously only featured in its Paris flagship, which expands access and improves consumers’ connection to the brand. And because they have a guided experience that’s driven by Galeries Lafayette’s employees, consumers ultimately feel more confident in their purchase decisions.
Embed social “moments” into the owned ecommerce experience
What has historically made social content so effective? The fact that it was raw, real-time and created a direct connection between the creator and the consumer. But as filtered photos become the norm and stage activations and shoots overtake authentic photo moments, retailers are using livestreaming to bring that authenticity back to life. And these forward-thinking retailers are integrating these livestreams into their owned ecommerce experiences in order to amplify that authenticity to drive the decision-making process.
For example, supermarket retailer Albertsons partnered with Firework to provide shoppable livestream video experiences for several of its banners. They can create, host and curate short-form and livestream video on their websites to inspire shoppers with new recipe ideas and culinary inspiration. Other brands like The Fresh Market add shoppable interactivity to their livestreams, so consumers can get inspired by the content and easily click to shop all items they need.
Download a copy of the Hit List to dig deeper into these and other powerful social commerce examples.