August has already passed and so it’s time to take a another look at what happened in Social Commerce during the last four weeks: While Twitter has introduced Promoted Stickers and is going to charge advertisers at least $500,000 for them, Facebook is said to improve its platform and messenger for merchants. To let you know what else happened, we have put together the latest articles on Social Commerce.
Want To Run Promoted Stickers On Twitter? It’ll Cost At Least $500,000
Advertisers who want to run Promoted Sticker ad campaigns on Twitter will have to fork over at least $500,000 to do it, multiple sources tell BuzzFeed News.In June, Twitter introduced stickers, which you can overlay on top of pictures you tweet, and search just like hashtags. Earlier this month, Pepsi ran the first Promoted Sticker campaign. The $500,000 minimum ad spend can be spread across multiple Twitter ad products — so advertisers who don’t want to drop half a mil on Promoted Stickers can use some of the ad buy on Promoted Tweets and the like.
Facebook forges ahead into social commerce
Facebook recently announced new tools for both its original Facebook platform and Facebook Messenger aimed at facilitating online purchases through these portals. The social media giant is heavily focused on developing such tools to attract both e-tailers and shoppers to Facebook, as it looks to spur on the budding trend in social commerce. Retailers are also likely drawn in by Facebook’s massive user base, which totals 1.7 billion people around the world.
Alibaba is embracing social commerce
Taobao, which launched in 2003, is a consumer-to-consumer (C2C) online marketplace owned by Alibaba. Alibaba has invested significantly in Taobao’s app to promote social commerce. For instance, the app’s roughly 80 million monthly active users can chat in special interest groups, book travel tickets, and even order takeout through the platform — all while being able to purchase goods, as well.
Are buy buttons working? Social commerce for 2017
Using social media to bridge the gap between consumers and brands means you need to know the best ways to take advantage of sites like Facebook, Pinterest, Instagram, and Twitter. According to a recent survey conducted by research company Cowen and Company, 55 percent of Pinterest users shop for products on the platform, and 12 percent of Facebook and Instagram members do the same.But slapping on a buy button isn’t a silver bullet.
Growing importance of social commerce in India — an insight into this segment’s future
Social commerce, as the name suggests, refers to the use of social networking media which can be used to facilitate online transactions. Although this term was first created in 2005, it is a relatively new domain, gradually gaining acceptance among the youth as it merges the concepts of social network or collaboration with e-commerce. Already quite popular abroad, this virtual platform is slowly gaining prominence in India as it lets users connect with other like-minded people while indulging in a bit of online shopping.