Imagine that you see an ad in your social network feed and you liked the product. To buy it, you are redirected to another website where you need to add the product to the cart and complete several other steps until you can finally purchase the product. The goal of Social Retail Marketing is to speed up this journey.
E-commerce has evolved so much in the last few years that it feels like there is 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 with Social Retail Marketing, which is the practice of using social media 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 don't want to search for a product anymore, instead, they want to be found. In his book, Fabela also states that the era of commerce mediated by social networks still has a long way to go, even though it seems that we are already in it.
Social Retail Marketing is about to take advantage of the relevance that social networks have to leverage sales, by building trust and loyalty, which converts into even more purchases. The goal of SRM is that the consumer does not stop what he is doing to buy the item that caught his attention, but that he can buy it right there with as few actions as possible.
SRM can be combined with technologies such as augmented and virtual reality to make the shopping experience even more charming and faster, which is increasingly important since the digital world is super volatile and has numerous distractions that can make the customer withdraws from the purchase.
With so many innovations like this coming to the commerce market, it's clear that we're just at the beginning of this new era. How is your business preparing to meet these new demands?
If you haven't started your digital transformation journey yet, your business may lose relevance in the coming years. You can count on Digiu Digital to help you perform a real business transformation and adapt to all these market changes.