Exploring Social Commerce

What is Social Commerce?

Consumer Journey

  1. Social ads and promotions consist of efforts geared towards bringing consumers onto your digital store.
  2. Driving consumer engagement and providing a differentiated experience can be done through activating conversational or livestream commerce experiences.
  3. Community building entails the cultivation of social proof, group deals, and conversations among communities of customers to inform future purchasing decisions.
  4. Customer service and management refers to the core and foundational technical capabilities needed to keep the online consumer journey flywheel going.

Livestreaming

The Potential of Livestreaming

  • There is rapid growth in e-commerce and social media sales globally.
  • Small-medium businesses (SMBs) are moving online, and trying to differentiate themselves.
  • The number of influencers is rising.
  • Cord cutting and the emergence of 5G is continuing to move eyeballs away from television.
  • Traditional social media advertising will become crowded and competitive.
  • SMBs and Digitally Native Vertical Brands (DNVBs) will drive demand for live streaming marketplaces and software.
  • Video content consumption will continue to grow in North America.
  • There will be growing demand for integration of livestreaming within social media, websites, and shopping platforms.
  • Winners will seamlessly merge content and commerce to deliver a complete experience to the end consumer.
  • Winners will unify brands with influencers and key opinion leaders to provide engagement.
  • Winners will have the ability to leverage and integrate with Big Tech, while surviving the competition from Big Tech.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Wittington Ventures

Wittington Ventures

Venture capital firm in search of disruptive innovations in food, commerce, and healthcare