40 million Indians are using online reviews to inform purchase decisions, according to Nielsen study.
30 million Indians who are online being members of social networking sites and about two-thirds of them spend time on these social networking sites daily.
The research indicates that increasingly, Indians also want brands to communicate with them using social media with 60 percent of Indians social media users are open to being approached by brands.
So, in India, it seems there is lot much potential for Social Commerce. Social Commerce is a sort of e-commerce using social media, and that supports social interaction and user contributions, to assist in the online buying and selling of products and services.
While some companies think of social media strictly from a marketing perspective, more and more businesses are using social channels to drive direct sales through Facebook stores or by announcing new products and promotions through LinkedIn and Twitter. Failure to capitalize on this ample opportunity with Social Commerce will leave your business at great risk of losing customers to more social-savvy competition.
But the more pertinent questions are:
- Is your business offering a strong enough value proposition to these 30 million people for them to shop online?
- Are e-commerce businesses doing enough to leverage the true potential and connect individuals with other shoppers or experts so that they can make much more informed shopping decisions?
- Are you helping the customers devising ways that can play a role in their product discovery and purchase process so that they can make much better informed decisions, compared to what they can do today?
The following presentation prepared by WITS Zen touches in details:
- Strategic Focus and Purpose for Social Commerce
- Value Propositions of Social Commerce
- Social Shopping Trends in India and the world over
- Social Media Marketing Trends
- Customers’ Expectations from Social Commerce
- Measures to Ensure Successful Social Commerce
- Metrics to Evaluate Successful Social Commerce
- Insights on Social Commerce in Future