S-Commerce, the way of the futurePosted: March 19, 2012 | |
By Alicia Deily
The best way to gain a customer is often through word of mouth. Consumers believe their friends and coworkers more than they believe the claims found in advertisements. Consumers also like to have a direct interaction with the brands that they purchase from; they want to feel like their opinions and concerns are being heard by companies.
In the past these goals were difficult to achieve. However, s-commerce has changed that dramatically and now it is easier than ever for a brand marketers to connect with its existing and potential customers.
S-commerce, or social commerce, is a term given to the use of social media in the buying and selling of goods. Essentially, it is all about doing business through social media. It was coined by Yahoo in 2005 to describe online shopping tools like user ratings, customer recommendations and referrals.
Since then the term has gone on to include the use of brands marketing on social networking sites like Facebook and Twitter. These sites allow customers to interact with brands on many levels. They can make suggestions and comments, gain inside information and special offers, share product information and offer referrals to friends. Social media can also be a platform for companies to conduct market research and get essential feedback from consumers. Both consumers and brands can benefit from s-commerce.
It is predicted that marketers have only begun to skim the surface of what is capable through social media. By 2015 the amount of sales generated through social media is expected to top 30 billion dollars globally. Keep up to date with the latest news from around the globe involving s-commerce at Social Commerce Today.
It is clear that it is important for students to understand how to effectively use social media. It is not only useful for their personal lives but it is also important in the world of business. S-commerce will continue to be a powerful force in the global marketplace.