The past year has been a huge challenge for advertisers. Changes have occurred in nearly all aspects of their business operations. Not only that, but customers have also adopted new habits and behaviors. The rise of social commerce has left business owners questioning their marketing strategies. Familiar practices are no longer effective. Traditional methods seem outdated and stale. Retailers worry that the customer experience is somehow lacking. To navigate these changes and understand the modern consumer, it helps to look at social media selling trends.
By selling on social media, your clients can offer a better shopping experience. Customers can ask questions and get answers in real time just as they would if shopping in the store. According to Socialbakers, “Social media marketing is the go-to format to reach modern consumers with 91% of consumers active and involved in social media. The emerging trend of live commerce is arguably the largest new development in the way businesses interact with consumers using social media.” This comes from their “State of Social Media and CX report.” It is an analytical comparison of the first quarter 2021 to last year’s performance of social media trends. The study focuses exclusively on Facebook and Instagram as selling platforms.
Social Media Ad Trends by Vertical and Platform
2020 was a departure in many ways but the study shows that the impact and effectiveness of social media selling continues into the new year. In Q1 2021, marketers spent 60% more on Facebook and Instagram advertising compared to Q1 2020. The increase cut across many industries with those surveyed up 65% YoY. Here are some highlights:
- Automotive +102%
- Alcohol industry +81%
- Ecommerce +66%
- FMCG food sector +59%
- Finance +55%
Facebook ad reach was up 22.6% while the costs of advertising also increased. In Northern America, Facebook and Instagram costs were up 32%. Click through rates (CTR) remained steady as cost per click (CPC) increased. This data points out the need for expertise, business insight, proper ad tools and accuracy of data for marketers who engage in social media selling.
Social Media Selling Trends
Social media selling is the practice of using a brand’s social media channels to connect with prospects, develop a connection and complete a transaction. The tactic can help businesses effectively reach their sales targets. Think of social media selling as modern relationship-building. Actively connecting with potential customers on social media helps your clients be the first brand a prospect considers when they’re ready to make a purchase. Using social media selling also speeds up the sales process from awareness to purchase.
Interactions on ecommerce sites are now ingrained behavior. Consumers search, select and purchase an item all within an app. To stay relevant, your clients must provide a digital experience that keeps pace with their customers’ expectations. Chatbot capabilities and strong social interaction, along with social listening and monitoring, deliver the favorable journey consumers want. A study from Forbes.com states that 74% of customers today are likely to buy based on experience alone.
AdMall fromSalesFuel provides tools, data and insight that can help you give your clients the competitive edge in social media selling. Targeting the right customers, building a social media presence and creating robust, relevant content begins with the business intelligence reports available in AdMall.
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