Top tips to boost your social media and social commerce strategy

It's easy to see why brands are favouring social media for their sales and marketing strategies and increasingly prioritizing their investments in social media & social commerce. In fact, a recent report by eTail and Stackla (2) claims that almost 75% of retail businesses plan to realign their investments to social networks.

We explore some of the best known social engagement tactics plus some significant factors to consider when you devise social media and social commerce strategy.

These insights will help you build consumers trust on and boost online sales in 2020:

Defining Clear Objectives and KPIs
Being present on social channels is not the same as managing your social networks or even implementing social commerce. Even though both these business objectives use the same media vehicle, there is a huge difference when you set out to devise a strategy for them.

Depending on your purpose, you must consciously define your objectives and Key Performance Indicators (KPIs) for both social media and social commerce separately. Defining a clear business objective will help you determine the goals and KPIs that follow.

Primarily they should be:

a. To build awareness- Facebook ads, YouTube ads, Twitter, or Facebook Pages, Instagram shop pages etc.

b. To increase follower count and engage with them- Answering pre and post-sales queries on social platforms, guide consumers towards right products etc.

c. To increase sales- Using social technology to complete or facilitate sales transactions.

d. To do market research- Using polls, surveys and user data in social media to better understand customers.

These objectives will become your stepping stone to define KPIs such as subscriber growth rate, purchase frequency, website visits, the time between purchases etc.

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