Article | March 24, 2021
Who would have thought one-year ago that popular high-street stores would now be closing their doors for good? Or, that some of the country’s biggest brands would decide to focus solely on ecommerce?
Well, neither did we. But due to the coronavirus pandemic, that is exactly what has happened for many businesses, particularly within the fashion industry.
Now, we are living in a world completely dominated by social media and ecommerce, but what exactly does the future hold?
Here, we speak to Amelia Neate, Senior Manager at influencer marketing agency, Influencer Matchmaker, where she shares her predictions for the future of shoppable social media and social commerce.
The rise of ecommerce
As we have seen throughout the last 12 months or so, there has been a huge influx in the number of ecommerce businesses coming to the forefront of their respective industries. And this probably wouldn’t have happened without Covid-19. In fact, it definitely wouldn’t have.
The effects of the coronavirus pandemic have had a tremendous impact on several industries and sectors, many of which have been negative. However, it has accelerated the growth of ecommerce by approximately four to six years.
And, following the closure of numerous brands within Arcadia Group and physical stores in the form of Debenhams, it is proof that brands must ensure they stay relevant and adapt to the ever-changing needs of their consumers.
Social commerce: why is it so important?
Not only has ecommerce taken a front seat recently, but we have now welcomed a new industry trend aboard. A similar concept to ecommerce, social commerce consists of the buying and selling of a product or service within a social media platform.
With the number of social media users continuing to rise, and with 53 million active social media users in the UK alone, it is no surprises that brands and businesses have implemented a brand-new strategy to help boost sales.
And, with 75% of businesses intending to dedicate an entire budget to influencer marketing throughout 2021, it makes perfect sense for them to be targeting their consumers more directly - which is exactly what social commerce does.
Social commerce was well on its way to success in 2019, way before the pandemic had even hit, having generated an impressive $22 billion in the US alone. Social media is no longer simply a place to be confronted with tailored and personalised ads, but is a destination to shop and make purchases, too.
Currently, Facebook and Instagram (which is owned by Facebook) have a shoppable feature within their apps. This allows brands, businesses, and anyone else with a business account to link directly to a product within their image, taking consumers straight to the product page of their website.
What’s more, they are able to do all of that without even leaving the app they were originally on! Brands such as Zara and John Lewis are just two of the huge names that are utilising the apps and their new shoppable features.
In doing so, this allows consumers to shop and purchase products without having to sacrifice their time on social media.
We are all familiar with the likes of Instagram Stories and their popular swipe-up links. Well, this is taking it just that little bit further, and I don’t think it is going to stop there.
The future of social commerce
Shoppable social media is only going to become more widely used, and before we know it, we will be able to purchase an item with just one click – making it even more streamlined than it is currently.
With features such as IGTV, Guides and Reels becoming increasingly popular on Instagram, it won’t be long before we are replacing hyperlinks with direct purchase links here, too.
It comes as no surprise that currently, video is the preferred way to consume content, so just how long will it be until such features are integrated into the likes of YouTube and TikTiok?
My thoughts? It will happen sooner than we think.
Brands are continuing to steer away from traditional marketing methods and are working hard to build relationships with social media influencers to focus their budgets and campaigns on influencer marketing.
This is just the beginning for shoppable content and social commerce, and I for one, can’t wait to see where it takes us.
Article | March 24, 2021
The last 6 months have been a whirlwind and keeping up with customer expectations is almost impossible, let alone getting campaigns together in a timely manner. (You’re not alone, it’s been a tough slog.)
Consequently, most of the marketing community - not unlike the rest of the world - are exhausted and anxious to get their strategy back on track.
Here’s where we come in… Reuters Events: Strategic Marketing USA (Nov 5-6, Online & On-Demand) brings together 5000+ CMOs and marketers to set benchmarks, showcase innovation, and map the future of marketing – a future where brands are purpose-driven, campaigns are intelligently data-backed, and innovation drives growth.
Sign up now!
Strategic Marketing USA (Nov 5-6, Online & On-Demand) is another edition to Reuters Events strategic series of board level meetings. Rather than discussing the how to’s of marketing, this is the meeting place of the world’s most influential CMOs where news will break, benchmarks will be set, and marketing leaders attending will pioneer the way forward. With a huge focus on interactivity, this meeting is set to be a 2020 must-attend.
Four essential themes for 2020:
• CMO Strategy & Trends: CMOs share their plans for keeping brand relevancy in an ever-changing world, honing brand purpose, reinventing a legacy, and creating a culture of innovation.
• Customer Insights & Understanding New Consumer Behavior: Customer needs, wants and expectations have changed. It’s time to fully understand your customer and their journey to unlock data-driven personalized experiences.
• Agile Content & Creative: Cut through the noise with impactful interactions that inspire and create a lasting connection. Use this shared global experience to connect on an emotional level, telling stories that are hyper relevant, but grounded in brand.
• Digital, Social & Influencers: As we follow social-distancing guidelines, the channel of choice for many is social and influencers are at their most impactful. Video, influencers and the formula for social success.
Check out the detailed Strategic Marketing USA agenda here!
“Thinking it terms of functional boundaries – where marketing produces “traffic” and product drives “conversion” and customer service “saves” the experience, is very much outdated. The role of the CMO, or a chief growth officer, is to do everything it takes to drive the growth of the business – be it through advertising, PR, product, or customer service. We need to stop being functional specialists, often speaking about the brand most of the time, and become true business leaders, who are able to use a wide toolbox of functional expertise to grow the business.” - Alex Weinstein, Senior Vice President, Growth, Grubhub
CMOs and marketing leaders shaping the future of marketing weigh in as speakers, including:
Penny Baldwin, CMO, Qualcomm
Ira Rubenstein, CMO, PBS
Evan Jones, CMO, Fender
Leela Srinivasan, CMO, SurveyMonkey
Kevin Peck, SVP, Global Branding, AT&T
Andrew Strickman, Chief Creative Officer, com
Doug, Jensen, SVP, Estée Lauder
Alex Weinstein, SVP Growth, Grubhub
Connie Chan Wang, Director, Global Brand Marketing, LinkedIn
Erica Chan, Head of Brand and Marketing, com
View the full speaker line-up for Strategic Marketing USA!
“Brilliant brands, brilliant missions, and brilliant minds all in one place to share, listen, and learn from – it’s a collaborative, crowdsourced economy” – Alison Herzog, Director, Global Social Business & Digital Strategy, Dell
Reuters Events: Strategic Marketing USA will be live November 9-10th and available on-demand for a limited time after. Primarily made up of CMO case studies and panel discussions, the agenda will feature discussion streams and Q&A from the audience consistently throughout the two days. Additional workshops and roundtables will also be run sporadically throughout and following the summit. Attended by 5000+ marketing leaders, this is the must-attend meeting of 2020.
Registration is free for a limited time only, so check out the website here!
Article | March 24, 2021
How do you make the right choices, to reach the right audience through the right channels just the right time? Most importantly, how do you ensure your advertising budget is having the impact you need and earning the ROI your investment deserves? This is the challenge of the current Marketing process. Businesses use educated guesswork, publisher driven audience stats (often inaccurate and outdated) and intuition to plan how they’re going to communicate with their customer in the hope that the usual ads and content will work.
Article | March 24, 2021
Content experience refers to the overall experience associated with assessment, engagement, consumption and responding towards a stream of various brand contents across different channels, platforms, and devices during the complete journey from prospects to customers. When content experience is done successfully, it delivers the highest possible extent of personalization, relevance, consistency, timeliness, and convenience. This is because; content experience focuses on the holistic approach.