Shoppable content: The new way of buying online (and 3 brands doing it right)
For years, consumers have had the option of buying in stores, online, via mobile apps or (in some rare cases) mail-order catalog.
The latest option in the mix? Social commerce.
Numbers show 43% of Gen Z and 49% of Millennials have purchased products or services directly from social media platforms. This is big for brands vying for the attention of younger consumers. And they're taking heed: Research conducted by the Harris Poll on behalf of Sprout Social found that 73% of businesses are currently selling on social media platforms, and another 79% plan to within the next three years.
How are they doing it? By turning social posts into shoppable content. Doing so shortens the sales funnel and converts customers right when they're inspired to make a purchase.
Let's explore this more.
What is shoppable content?
Shoppable content is a type of content, such as a social media post, image, video or ad, that consumers can click through to make a purchase. For example, Instagram Product Tags let you highlight items from your catalog directly in your images and videos, so people can easily tap and learn more.
There are instances where the customer has to complete their checkout process on the brand's website, but some shoppable content enables transactions all in one place. Shoppable content on platforms like Facebook, Instagram or TikTok that lets users buy without leaving the app is the backbone of social commerce.
Benefits of shoppable content
The shift away from physical stores to social shopping was always coming. But thanks to the pandemic, it accelerated by roughly five years. In the US, the volume of social commerce sales is expected to reach over $100 million by 2023.
This is a grand opportunity for brands to capitalize on these emerging trends. But be careful: Millennials and Gen Z only want to buy from brands that are authentic and transparent.
As you would with your campaigns, website or physical locations, be sure your shoppable content demonstrates your brand’s values and humanity. If you can create content that connects with your audience, it will become easier to attract and convert them.
Integrating shoppable content into your digital marketing strategy can yield numerous benefits:
Shorter sales funnel
With shoppable videos, social posts and ads, you help buyers get what they want when they want it. No hiccups or delays to extend the sales funnel.
Better customer experience
Millennials and Gen Z already use social media to search for products. So why not meet them where they are?By creating content that is not only discoverable, but shoppable, you minimize the disruptions that lead to an abandoned shopping cart. In other words, an enhanced customer experience.
Increased brand loyalty
The best way to build trust and loyalty today? Storytelling.
Shoppable content is an opportunity to showcase real stories about real people who've used your product. The goal is to show off your product’s value while educating potential customers.
Improved conversion rates
Being in the right place at the right time is what marketing and advertising are all about. With targeted and personalized shoppable ads, you can increase the odds of a conversion.
But how do you make the most of your shoppable content campaigns? There are three key techniques brands can use to get better ROI:
Hyper-targeting by partnering with small, but niche, influencersInvesting in engaging shoppable content (e.g., Stories vs. static ads)Choosing affordable items to showcaseTommy Hilfiger and a few others are capitalizing on live streaming shopping events (especially since the pandemic). The brand partnered with celebrities and social influencers, including model Elias Riadi. During the event, viewers could add items to their carts for checkout after.
Walmart has gone all-in with live shopping events, hosted on their Walmart Live platform, YouTube channel and TikTok account. The retail giant regularly partners with influencers and celebrities to showcase new product lines and seasonal favorites.
Ready to get your fitness on—at home? Then ✨ TUNE IN ✨ to our Walmart Live with @RavenElyseTV & shop along as she shares her favorite at-home workout essentials. 🤸🏽♀️ Mark your calendars for Sept. 1 at 7pm ET & head to our YouTube channel to watch! https://t.co/zDRnKehQ1j pic.twitter.com/FzwjmHl8IB
— Walmart (@Walmart) August 27, 2021
