Electronic commerce or E-commerce for short is the buying and selling transaction through the use of the internet. There are 3 parts:online retailing, electric markets and online auctions. There are numerous transactions in the online e-commerce such as online shopping websites for retail sales direct to consumers, providing and participating in online marketplaces which process third-party business to consumer or consumer to consumer sales, business to business buying and selling, gathering and using demographic data through web contacts and social media, business to business electronic data interchange, marketing to prospective and established customers by email or fax, engaging in retail for launching new products and services, online financial exchanges for currency exchanges or trading purposes.
The benefits of e-commerce are widely explained all throughout the business world because of the rise of the social media, the main benefits include the 24/7 availability, the fast speed access, the wide variety of choices for goods, products and services for the consumer, easy access, and even internationally, it can be reached in just a few clicks. Although the disadvantages of e-commerce include often, there could be less customer service, the buyers are not able to see or look at the product directly and the waiting time for shipping. There is no doubt that the electronic commerce continues and seizes to exist and grow in the business field. The continued growth of the said business pushes the IT field to evolve their designs beyond what they could normally do.
How does social media affect e-commerce?
social media is an essential part of the online buying and selling transactions because it helps the firms to formulate an established site in the web to generate leads and to increase the traffic. An average person could spend around 2 hours surfing the internet every day and the number of shoppers are rapidly increasing throughout the rise of e-commerce. In the early era of the business world, a physical site appearance would be the medium for advertisements of the brand. Today, in the new generation, business standing is judged through their social media reputation. In the current digital age, social media is used to advertise, increase the capacity to be present in every social media site, and deliver a very high-quality customer service.
Because of the rise of social media and web shops, e-commerce was born, basically, it is the combination of both so that there would be an increase in sales and revenue. Social media is used for advertising, connecting and maintaining the business growth. Social media needs to have a portion of the budget since it gives you a top advertising and influence for the social media customers. From Instagram to Facebook to YouTube, these social media sites are the perfect place for you to present your brand and it is even limitless for you to share information about your products. If you do social marketing efficiently, it increases the value of your product.
Paid advertisements- allocating budget in paid advertisements put your brand on top of the list. With creating unique headlines or creating catchy pictures and descriptions. But because even advertising business became much more competitive, the prices also slowly increases.
Private messaging- because most of the retailers and buyers do not want to publicly share information regarding the product or services they are selling, private messaging is also a way that social media could help in e-commerce. Private messaging is a feature wherein there is a real-time conversation even if you are miles away. By using this, sellers should make sure that the conversation is flowing and encouraging plus influencing.
In app purchasing- more and more people are into social networking. They tend to purchase downloadable applications and that trend will still be growing even in 2018. Because the applications they are downloading have already built rapport and trust.
Live video- another feature by some social network sites. this is a good way to spread awareness through question and answers, product demonstration or behind the scenes previews.
Virtual reality- another feature of social media. This is the fastest way to influence consumers to worship and trust brands that is why there is an instant huge wave of sales.
How to grow business through social media?
Constant postings- post interesting and engaging product content on a daily basis or even once or twice a week, just be consistent.
Be short and direct- people just scroll around so giving them long product descriptions makes the value of your product less. Give them short but concise descriptions which are catchy as well.
Set goals- make sure to straighten out what you really want to achieve.
Use benefits from other media- take advantage of other trendy sites if yours is not.
Use reviews- people tend to look at product reviews for comparison and evaluation. Make sure to ask the buyers to make some comments or reviews regarding the product they bought.
Know your customers- know what they need
User-generated content- this is partly the same with the reviews but the customers have the freedom to speak what they wanted to say.
Don’t just sell- be there. Don’t just be there when you have something to sell. Be there to socialize and build and earn trust.
Social media is a vital role in the online business field. You need to have a lot of preparations such as researching and planning before your implement. Make sure to keep in mind what most of the customers needed. Select your target market and build and earn their trust and spread your brand awareness. Social media e-commerce needs a lot of patience and hard work so you need to prepare yourself for that. Social media is still growing and it will seize to exist until the coming years with bigger improvements, technologies with powerful advertising tools and chat box and downloadable applications which will make e-commerce bigger and better.