Group buying is a term used for collective buying. In the case of group buying, there must be a minimum number of buyers who are ready to make a certain purchase. The price here is reduced to a great extent only because of this condition. This concept is mostly applicable in the case of cooperatives. Social group buying on the other hand is a combination of social media and group buying.
Social commerce is the method of buying and selling goods through social media such as Facebook, Twitter, and Instagram. The success of social commerce depends on how many likes, shares, and retweets the customers are making. The more the numbers, the higher the success rate of the social commerce campaign.
Some Common Social Commerce Strategies
Social commerce has become an evident part of group buying. It has made group buying easier. In the case of social commerce, there are a few tactics and strategies that a company uses. These tactics and strategies are used by professionals who deal with social commerce. These professionals post interactive features and messages that will help to promote the company’s sales online. These include,
- A range of products is displayed to the users. The users get an invitation to vote on the products. This helps to understand how much acceptance is there in the market for a particular product.
- The customers are provided with customized buying options. Customizations are a key factor that helps to drive in customers.
- In the case of social media, the entire sale is dependent on what one sees. The professionals take an advantage of this and use attractive graphics to that the customers are automatically drawn to the site. The more attractive the graphics are the more clicks and likes the post will get.
- Videos are a part of the strategy for professionals who are into social ecommerce. The product videos capture the product from various angles. This helps the customers to see the product from various sides.
- The posts that social commerce professionals make allow the customers/users to put in their feedback through comments and DMs. This will help to understand what changes are to be made for the product or how well the product is accepted by the customers.
- Influencer marketing is one of the main tactics of social ecommerce. Endorsing a product through a celebrity or a social media influencer works like fire in the case of social commerce.
- The posts made by social commerce professionals are often linked directly to checkout or add a shopping cart option. Just by clicking on the post, it automatically redirects you to a page where the product gets automatically added to your shopping cart.
- Free products are undeniably attractive. It is the simplest strategy these professionals apply. They provide giveaways with products that catch the eyes of the customers and attract them.
Group buying and social commerce go hand-in-hand. Here a medium is used to attract customers with a common interest to buy the same good. The medium that is used is given a part of the income in the form of commission. It is one of the most important ways of attracting customers in the present generation.