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Falcon.io | 2021 Trends Virtual Summit - Social Commerce

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Falcon.io | 2021 Trends Virtual Summit - Social Commerce

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The COVID-19 pandemic has impacted far more than the way we socialize and interact. It’s altered the way we work, the way we travel, and, perhaps most importantly for consumer brands, the way we buy. Lockdown measures have accelerated the shift to e-commerce by 5 years — and social commerce is rising along with that wave. Most brands have already embraced digital — and consumers are largely accustomed to buying online. Now, with people spending more time than ever on social media, the stage has been set for a huge uptick in social commerce. But what exactly will that look like?

The COVID-19 pandemic has impacted far more than the way we socialize and interact. It’s altered the way we work, the way we travel, and, perhaps most importantly for consumer brands, the way we buy. Lockdown measures have accelerated the shift to e-commerce by 5 years — and social commerce is rising along with that wave. Most brands have already embraced digital — and consumers are largely accustomed to buying online. Now, with people spending more time than ever on social media, the stage has been set for a huge uptick in social commerce. But what exactly will that look like?

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Falcon.io | 2021 Trends Virtual Summit - Social Commerce

  1. 1. A swell in both at-home shopping and social media usage has created the perfect storm for social commerce to flourish.
  2. 2. Your Presenters. Veena Ramakrishnan Content Marketing Specialist Falcon.io Liat Karpel Gurwicz Head of eCommerce Marketing Wix @LiatKarpel @Wix @veena-ramakrishnan @FalconIO @Falcon.io #FalconEd #growwithsocial Your Presenters. Veena Ramakrishnan Content Marketing Specialist Falcon.io Liat Karpel Gurwicz Head of eCommerce Marketing Wix @LiatKarpel @Wix @veena-ramakrishnan @FalconIO @Falcon.io #FalconEd #growwithsocial
  3. 3. Our Agenda. • What is social commerce and how does it work? • State of social commerce in 2021 • Why should brands invest in this trend in 2021 and beyond? • Platforms and features that facilitate social commerce. • The Wix e-commerce solutions • Building a social commerce strategy for 2021 • Q&A @Falcon.io #FalconEd #growwithsocial Our Agenda. What is social commerce and how does it work? State of social commerce in 2021 Why should brands invest in this trend in 2021 and beyond? Platforms and features that facilitate social commerce. The Wix e-commerce solutions Building a social commerce strategy for 2021 Q&A @Falcon.io #FalconEd #growwithsocial
  4. 4. What is social commerce and how does it work ? Definition: Social commerce is the process of selling products directly on social media by utilizing social commerce features supported by apps like Facebook, Instagram, Snapchat, and TikTok.
  5. 5. But…here’s what it’s not! E-commerce Social selling
  6. 6. State of social commerce in 2021.
  7. 7. 54% 71% Source: GlobalWebIndex
  8. 8. Why social commerce?
  9. 9. Why your brand should do something about social commerce: o Uhm… coz of all the monies, duh! o Makes shopping a social experience o Easy to follow through thus, removing friction o Allows consumer participation o It’s where all the Genzials are present o Perfect for hyper-personalization Virtual Summit
  10. 10. Where can you do social commerce? q Facebook q Instagram q Snapchat q TikTok Virtual Summit
  11. 11. • Facebook Shop • Instagram Shop • Snapchat AR filters • TikTok x Shopify
  12. 12. Cast your vote on-screen. Q: In your opinion, what is the best platform to begin your social commerce journey?
  13. 13. About Wix
  14. 14. What We’ll Talk About Today The Wix eCommerce Solution & Omnichannel Sales Building a Social Commerce Strategy for 2021
  15. 15. February 2021 Wix eCommerce & Omnichannel Sales
  16. 16. February 2021 The Wix eCommerce Solution Enables You to Launch, Manage and Scale Your eCommerce Business Successfully
  17. 17. Omni-Channel Sales ● Sell wherever your shoppers are ● Expand beyond your online store and sell on all the channels your customers shop everyday ○ In person ○ On the web ○ On social networks like Facebook and Instagram ○ In online marketplaces like Amazon and eBay
  18. 18. Streamline management and run your business efficiently from one powerful eCommerce platform: ● Manage your product catalog, inventory and all sales from a single dashboard ● Connect and manage payments with 50+ payment providers, including Wix Payments ● Integrate all your sales channels, like Facebook and Instagram ○ Tag your product in every upload and followers can click the image to shop it ● Review analytics and track customer and sales data across all channels ● Manage shipping & fulfillment Wix eCommerce Platform
  19. 19. February 2021 Building a Social Commerce Strategy for XXXXX
  20. 20. 1What are their problems or pain points? What are they looking for? What are their hobbies and interests? Which groups or subcultures do they belong to? What values are important to them? Where and how do they engage with content online? Know Your Shoppers
  21. 21. February 2021 #2 Define Your Goals ● Attract potential customers who are actively searching ● Re-engage your past customers ● Reach out to totally new prospects ● Increase traffic quantity and/or quality 2Attract potential customers who are actively searching. Re-engage your past customers. Reach out to totally new prospects. Increase traffic quantity and/or quality. Define Your Goals
  22. 22. February 2021 3Choose Relevant Channels Search Engines: Target people actively looking for a product. Online Marketplaces: Target actively searching & browsing shoppers. Social Networks: Reach potential shoppers who aren’t necessarily actively looking for a product. Retargeting: Target shoppers who visited your website through channels like Google and Facebook with a unique tracking pixel.
  23. 23. Why Choose Social Networks? Billions of people use social networks every day • Captive, engaged audience Millions of businesses sell on those platforms • Low cost per acquisition • Target specific audiences Challenges • Competition & bigger businesses • Knowledge & expertise in online marketing
  24. 24. When to Implement a Social Strategy Reach out to totally new prospects Drive more and better traffic Re-engage your past customers Track results and optimize Really scale: • No other platforms offer this magnitude of audience • Automations
  25. 25. BFCM Traffic Source Actually purchased Direct 3.1% Organic 2.4% Facebook 2.0% Instagram 2.1% Referral 4.0% Paid search 1.2% Social 1.3% Email marketing 7.8%
  26. 26. FB & IG Ads by Wix • Easily create, run and track paid ad campaigns on Facebook & Instagram • The Wix advantage: • Smart ads that convert • We handle all the technical side • Automated audience targeting and A/B testing
  27. 27. Hundreds of Wix stores running FB Ad campaigns by Wix earn over 1,000% Return on Ad Spend
  28. 28. February 2021 Your customers are your greatest asset. You invest in acquiring every new customer, but the real reward is not just closing the sale. It’s the potential to continue earning from that customer for a lifetime. Your customers are your greatest asset. You invest in acquiring every new customer, but the real reward is not just closing the sale. It’s the potential to continue earning from that customer for a lifetime.
  29. 29. Customer Retention • Get customers to commit to your brand • Turn customers into repeat shoppers • Don’t lose customers to competitors • Loyal Customers: • Account for 41% of store revenue • Are 9X more likely to convert • Spend 5X more than the average customer • Are 2X more likely to recommend your brand * Data from Wix Partner App Smile.io
  30. 30. E-Mail Marketing • Automations – cart abandonment • Newsletters • Sales and special offers
  31. 31. Blog & Content Marketing • On-site content, like blogs, forums, guides, and infographics • Informational, educational videos • Lead magnets, like eBooks and checklists • Webinars
  32. 32. Rewards Programs • Motivate shoppers to engage with your brand • Incentivize shoppers to share your content or bring you referrals • Nurture customer relationships— beyond the holidays
  33. 33. Cast your vote on-screen. Q: Do you think social commerce will be the new e-commerce?
  34. 34. Virtual Summit Andrius Knispelis Senior Product Manager for Customer Onboarding Falcon.io 11:00 The Expanding World of AR Madeleine Hall Head of Digital Marketing Little, Brown Book Group Coming up
  35. 35. Book a Falcon demo now - May 31 and get 2 months free if you go with us. @Falcon.io #FalconEd #growwithsocial
  36. 36. @falconIO falcon.io welcome@falcon.io

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