E-COMMERCE V/S SOCIAL COMMERCE : How to benefit businesses individually
As online shopping becomes so popular and traditional commerce markets become boring, various new trends can be seen. E-commerce and socialcommerce are among the trends.
Before discussing the differences we should first understand their similarities. E-commerce and social commerce are carried out with the help of electronic highways; the internet. Both of them find audiences through online medium and sell their products and services to various customers.
E-commerce is so widely used and has the largest market in the world, so it can be said that it has a global trade scope. These companies know how to keep up with market demand and adopt corresponding strategies, thus providing them with more sales opportunities. But at the same time, they also have expensive marketing cost. They track their customers with insights and analytics. Personalized messaging and instant response make the loyalty clause stronger. Scalability and potential profits are other beneficiaries to e-commerce.
With such huge market values, it has some major drawbacks. Since they have a diverse customer base, positioning in a certain way is a task. targeting is somehow a task. Also, it highly depends on social media website for brand or product’s promotion. They have critical procedures in regulations and compliance.
On the other hand, social commerce can be seen as an aid to e-commerce. It has more customer loyalty and retention as compared toE-commerce because social media is now everyone’s cup of tea and that leads tomore engagement. In addition, they can interact through two way interactions, making business processes easier & more reliable. As it is important for a business to conduct a market research, social media serves well. Another benefit of choosing social commerce is that you can access the website and social media at the same time. It increases sales by attracting users to visit the website and also establishes a potential target customer base. It has its own customers and knows how to satisfy them through features & collaboration. With the help of influencers on social media platforms such as Instagram and Facebook, brand promotion can be done and marketing can also be carried out easily and cheaply. These businesses hunt customer’s desires with a variety of product range that helps them in expanding their market. Through community testing, they create their own value with the help of different social media platforms.
But coins have 2 faces, and social media is hard to believe. In order to make customer relationships, they must adopt a clear PR strategy. As they have lots of competitors on the electronic highway, they find it hard to keep up with trends.
