For ecommerce businesses, social media is going to become and may already be one of the most formidable arenas for advertising to potential customers. If you’re an ecommerce business owner, you can take advantage of the reach of social media to find potential customers at any part of the sales funnel.
Use of social media as an advertising tool for ecommerce businesses is sneaking up on social network addicts as well as the businesses and marketers that advertise to them. The birth and rapid expansion of influencer marketing has also pushed shoppers to start their buyer’s journey on popular social websites like Instagram and Facebook.
In those same places, advertisers are dropping chunks of their advertising budgets on videos that demand viewer attention and get them interested in products about which they didn’t know. Ecommerce sites may still be able to generate significant revenue without social media presence, but they will be missing out on an enormous audience of potential buyers – an audience that their competition may already be targeting.
Not convinced? These facts and statistics about social media and ecommerce may change your mind:
People Spend Time and Money on Social Media
The average person spends 1 hour and 40 minutes on social media every day, and accounts for $1,734.05 in ecommerce dollars every year. It takes each person seconds to see and interpret an advertisement – imagine how often they will be able to see your advertisements. If you’re a successful advertiser, you could also grab a significant portion of the money that ecommerce customers are spending every single year.
There Are Tons of People Shopping Online
The number of online shoppers, defined as people who had browsed products, compared prices, or bought merchandise online at least once, is expected to hit 217.1 million in 2017. Add a few million every year, and the potential profit for ecommerce businesses begins to multiply exponentially. Experts estimate that the total ecommerce market revenue for 2017 will reach 3.5 billion U.S. dollars. Companies who realize the increasing value of online shoppers are seeking every possible avenue to entice every possible customer.
Social Media Wants to Help with Advertising
Estimates for 2017 put total social media advertising revenue per user up to $65.91, the majority of which comes from targeting mobile customers. Facebook made themselves $7 billion in 2016 just through their various advertising programs.
The potential customers scrolling through their social feeds love the freedom to shop from anywhere, which means you can advertise to customers anywhere, especially as social networks become mobile-focused.
Video Will Dominate
We say with confidence that video is likely to quickly become the most common form of social media advertising for ecommerce businesses. Already, most of your Facebook and Instagram feeds are probably showing you videos rather than posts and pictures. As long as videos grab attention quickly and provide valuable information, they are the most efficient and easily digestible form of advertising for mobile and desktop customers alike.
Get into Social Media for Your Ecommerce Business Now
Building a social media presence doesn’t happen overnight. You can use social media as one of your main advertising channels for your products, but you have to build an audience first, and if you want to make money, it better be a large audience. Plus, you’ll need to figure out where your branding fits into your social media persona. Grab your accounts now, and if you already have them, start posting as soon as possible with product descriptions, special offers, and quick graphics and advertisements.
Your friendly Leverage Marketing team is already hard at work creating social media opportunities for ecommerce businesses. We know how to push product announcements, bring in customers for awesome sales, and find new audiences for your products. Talk to one of us today to learn more, and don’t forget to join our newsletter for invaluable marketing know-how you won’t find anywhere else!