Imagine you see an ad in your social network feed and you like the product. To buy it, you are redirected to another website where you must add the product to your cart and complete several other steps until you can finally purchase the product. The goal of Social Retail Marketing is to accelerate this journey.
The New Frontier of Online Shopping
E-commerce has evolved so much in recent years that there seems to be no way to make online shopping even more convenient and faster for customers. However, innovative practices are emerging all the time (and that always brings challenges for businesses). This is the case of Social Retail Marketing, which is the practice of using social networks to interact with customers and sell on digital channels faster. The term was created by Augie Fabela, author of the book The Impatience Economy: How Social Retail Marketing™ Changes Everything. According to him, consumers are increasingly impatient, they want faster solutions and they no longer want to search for a product, they want it to be found. In his book, Fabela also states that the era of social media-mediated commerce still has a long way to go, although it seems we are already there.
Using Social Networks to Accelerate Sales and Improve the Shopping Experience
Social Retail Marketing is about taking advantage of the relevance of social networks to leverage sales, generating trust and loyalty, which translates into even more purchases. The goal of SRM is that the consumer does not stop what he/she is doing to buy the item that caught his/her attention, but can buy it right there with the least amount of actions possible. SRM can be combined with technologies such as virtual and augmented reality to make the shopping experience even more delightful and quicker, which is increasingly important as the digital world is super volatile and has numerous distractions that can cause the customer to walk away from the purchase. With as many innovations as this coming to the retail market, it’s clear that we are only at the beginning of this new era. How is your business preparing to meet these new demands?
If you have not yet started your digital transformation journey, your business may lose relevance in the coming years. You can count on Digiu Digital to help you make a real business transformation and adapt to all these market changes.