Social commerce sales are projected to account for 5% of all ecommerce sales by 2024.
As social media networks expand in-app purchasing capabilities, marketers and brands would do well to collaborate with influencers who have dedicated followers to boost sales. Building a collaborative ecosystem with social influencers can help firms target prospects with buying intents.
However, traditional online retailers may face increased competition as platforms like Facebook are introducing more direct-sales tools for creators and advertisers. Businesses should use social media influencer collaborations to reach out to consumers looking for creative and niche content across social media.
Marketers can also track conversion attribution metrics, and data in the lower sales funnel and build long-term marketing relationships with influencers using social commerce. In addition, social commerce can help brands can monetise their content via collaborations and discover more direct-sales opportunities.
[4 minute read]