Today, consumers use social media for a variety of different reasons. They use these different platforms to re-connect with old friends, chat with current ones, read different news stories and even to entertain themselves in a dull moment during the day. Since the emergence of these different social media platforms, they have become increasingly addicting and have captured the attention of consumers.
In a rush to capitalize on the growing popularity of social media and its reach, many different companies began advertising on these platforms, to more effectively get their message across to consumers. Since social media has continued to captivate consumers, merchants have realized that they can directly utilize social channels to boost their sales and grow their online business.
If a consumer is scrolling on one of their social media platforms, say Twitter, Facebook or Instagram, they will see advertisements for all sorts of different products and services. Previously, they had to go to the advertiser’s website if they were interested in anything. By the time they’re on to the next thing, it’s likely that a consumer has already forgotten about the products or services in question, which means the merchant has missed out on a potential sales opportunity.
Now, different social media platforms have made it possible for consumers to click-through, straight to a given merchant’s website, effectively cutting out that middle step. Some social media sites have also started to provide product descriptions and pricing information, to give consumers as much information as possible before they decide whether to buy or not.
While it still falls behind more traditional commerce channels, like brick-and-mortar stores and web sites, almost half of all merchants or retail executives actively use social commerce to drive sales, per the report, US Social Commerce 2017: Influencing and Driving Sales from eMarketer.
Most consumers aren’t as aware of social commerce and its potential yet but, since nearly all consumers are active on social media, it’s seemingly only a matter of time before it becomes legitimate. There is, however, one way to ensure that consumers utilize the benefits of social commerce, and that is to provide an excellent consumer experience.
For merchants, this is vitally important since it directly affects your bottom line. Cardinal’s rules-based authentication solution, Cardinal Consumer Authentication (CCA), through its use of rich data, can create a quick, seamless checkout experience for consumers, while also preventing fraud and false declines. With One Connection to Cardinal, we can Drive your Digital Commerce.
Note: All brand names and logos are the property of their respective owners, are used for identification purposes only, and do not imply product endorsement or affiliation with Cardinal/Visa.