By Paul Archer, Co-Founder & CEO @ Duel
As brands navigate the challenge of changing consumer spending and rapidly increasing acquisition costs, Social Commerce has quickly become a transformative force. It’s reshaping consumer behavior and revolutionizing the way brands connect with their audience rapidly.
It’s essentially word-of-mouth on steroids, leveraging the power of social media networks to drive purchasing decisions and foster brand engagement.
Earlier this year, Duel and Building Brand Advocacy (the podcast we sponsor) hosted two Social Commerce Summits for fashion & beauty brands. They came to discuss the key trends shaping the Social Commerce landscape, and how they can take advantage.
Both events sold out within two weeks, and marketers from Abercrombie & Fitch, LK Bennett, ELEMIS, and more were there to share insights; joined by leading figures from the world of socials, including TikTok themselves.
Here’s a quick rundown of the key lessons learnt…
The Power of Community & Advocacy
In the era of Social Commerce, brands are shifting their focus from traditional sales tactics to building communities. Rather than obsessing over individual transactions, brands like Abercrombie & Fitch and ELEMIS are prioritizing word-of-mouth growth through social media.
By cultivating a community of Brand Advocates and collaborating with them to amplify their brand story, these forward-thinking brands are driving true engagement and loyalty.
Live Commerce: A Game-Changer in Shopping Experience
Live Commerce has emerged as a powerful tool for brands to create immersive and interactive shopping experiences.
With consumers increasingly seeking connected and individualized experiences, brands are leveraging Live Streaming and shoppable video to engage with their audience in real-time.
Whether through personalized product recommendations or interactive AR try-on experiences, Live Commerce is reshaping the way consumers shop online and it’s here to stay.
Embracing TikTok as a Social Commerce Powerhouse
In 2024, TikTok has solidified its position as a leading destination for social entertainment and shopping. With its vast user base and engaging content format, TikTok has become a driving force in the world of Social Commerce (ban or no ban…).
Brands are leveraging TikTok’s unique features, such as Live Shopping, to reach and engage with their target audience in innovative ways. The rise of #TikTokMadeMeBuyIt is a testament to the platform’s influence in driving purchasing decisions.
Harnessing the Nano Army
Creators have become instrumental in shaping brand narratives and driving consumer behavior. As consumers increasingly turn to creators for product recommendations and reviews, brands are recognising the importance of building meaningful partnerships with their nano-influencers (aka their most influential customers).
By adopting a creator-centric approach to content creation and collaboration, brands can unlock new levels of authenticity and reach – driving Advocacy and loyalty among their audience at scale.
The Future: Seizing Opportunities in the Era of Social Commerce
As we navigate through the rest of 2024, the landscape of Social Commerce presents endless opportunities for brands to engage with their audience, drive sales, and foster brand loyalty. By embracing emerging trends such as Live Commerce, leveraging platforms like TikTok, and nurturing communities of Advocates and creators, brands can stay ahead of the curve and thrive in this dynamic world.
This is not a trend – it is a fundamental shift in the way consumers shop and interact with the brands they love. As brands continue to innovate and adapt, the possibilities for growth and engagement become pretty limitless.
It’s time for brands to embrace the future of commerce.