While primarily seen as a tool for increasing brand awareness and responding to customer inquiries/feedback, social media has proven to be quite an effective channel of online marketing for sales generation. Although some marketing professionals are still reticent towards investing resources into social media promotion, more studies are pointing to the efficacy of sites such as Facebook, Pinterest, and Twitter for both lead and sales generation.
Shopify, a DIY ecommerce platform, recently prepared an infographic compiling data from over 90,000 stores that resulted in $529,000 in revenue. The salient insights that will get any executive to buy into social media marketing can be found below:
- Facebook was responsible for 23.3 million total referral visits, which is the equivalent to 63% of all social referral traffic for Shopify stores. Following the social media giant were Pinterest (13%), Twitter (10.5%), YouTube (8%), and Reddit (4.5%). It is no surprise that Reddit is among the top five platforms because it has become a popular social media site for users to introduce unique and interesting products. However, brands cannot just start posting links without offering value to other users; in fact, the Reddit community can be quite caustic towards Redditors that only use the site for self-promotion.
- An average of 85% of all transactions originating from social media sites can be attributed to Facebook. The most popular industries for sales generation on Facebook were the following: photography, sports & recreation, pet supplies, dropshipping, and jewelry & watches.
- Polyvore topped the list when it came to average order value ($66.75), which is not surprising because it has become a quintessential social commerce website for some brands. Users curate products and create “Sets”, which can help increase exposure for branded products significantly. Instagram ($65.00) and Pinterest ($58.95) followed suit in second and third place respectively, illustrating the impact multimedia and high-resolution product images can have on sales generation.
- Hidden at the bottom of the infographic is one telling statistic related to launching products on the weekend; apparently, social orders can decrease by 10-15% if a product is launched on the weekend….and honestly, this should not be a surprise to most marketing professionals. Unless you have a dedicated fan base, the prime hours to reach your audience and drive sales is during the course of the week and not on the weekend, where it’s likely for users to be anywhere but near a computer/mobile device for once.
The full infographic has been embedded below and can be a handy guide for ecommerce store owners. As ecommerce becomes more popular and our world becomes more social, it’s going to be important to integrate the two aspects of online marketing and reap the rewards of a social commerce strategy.