Social commerce has not only changed which channels brands sell through, but also how retailers segment and brand their products. Single-product, vertical-focused brands will most likely take centre stage. That’s not to say larger brands must revert to selling only one product line, but rather they should rethink their product positioning and create different sub-brands or brand pages. FashionNova is a great example of this. They have continuously added new product lines during the last few years, but each with its own social presence and its own brand strategy, turning the fashion brand into one of the most researched on Google alongside luxury fashion houses. Other brands like Supreme use the product drop strategy, which is all about exclusivity and fleeting buying moments.
Additionally, social and messaging commerce tools can deliver real-time insight on which content converts best, giving brands more storytelling power and an ability to evolve brand positioning alongside changing consumer trends.
Source: E-commerce platform walkthrough - How to get started with jumper.ai, Youtube
Social-based commerce has the potential to make online shopping enjoyable again by enabling retailers to mimic offline shopping behaviour in an online environment. Brick-and-mortar shopping is a classic social activity, and online shopping sites, with their ‘pull’ and ‘hard sell’ approach, are simply not as much fun. By tying new engagement and brand expression opportunities to instant, in-app checkout, social commerce has the potential to actually make shopping social again. Combining consumer awareness, transactions, promotions and re-engagement all into one platform gives unprecedented power to brands to drive conversions and create new revenue channels. But it doesn’t stop there. With headless API integrations built on top of their current architecture, brands can even move beyond social. Ultimately, as online and mobile consumer behaviours evolve, and the definition of a social platform continues to expand, it’s likely that social commerce will morph into everywherecommerce.
This article is excerpted from the report Data-Driven Commerce. Download it now for key insights on winning at commerce in the new digital economy.