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Effect of Social Media on e-Commerce in India
- 1. Social Commerce Harish Kotra Some Stats- Challenges - Use Cases - Future Trends
- 2. Harish Kotra Technology Lead, Deep Red Ink Cofounder, Fests.info harishkotra.me
- 3. Some Stats
- 4. India’s e-Commerce revenue is expected to jump from $30 billion in 2016 to $120 billion in 2020, growing at an annual rate of 51%, the highest in the world. (ASSOCHAM-Forrester)
- 5. India’s e-commerce market expected to cross Rs 2 lakh crore in 2016. IAMAI
- 6. India’s e-commerce industry likely to touch $38 billion mark in 2016. Assocham
- 7. Interestingly, about 75% of online users are in the age group of 15-34 years since India is one of the youngest demography globally. Assocham
- 8. Social Stats of e-Commerce Platforms in India
- 9. Role of Social Media Impact Organic Search Presence Interact with Customers Drive Traffic It’s FREE
- 11. Use Cases
- 12. #BadeDilWale
- 14. #BadeDilWale #BadeDilWale generated 9,697,672 Twitter impressions with 1,500 tweets since September 28. Amazon has 5,514, 937 likes on Facebook. Most of their communication around #BadeDilWale have around 100 likes on an average and a couple of thousand views on the videos. On Twitter, Amazon has 367k followers and retweets and likes ranging from 50 to 100s which is decent considering the nature of the platform. On Instagram, since September 03, #BadeDilWaale has garnered 30,980 likes and 100 comments on 50 posts.
- 15. The number of digital buyers in India alone is expected to reach 41 million by 2016, representing some 27 percent of the total number of internet users in the country. Statista
- 16. Stats from an e-Commerce Site
- 17. Challenges
- 18. Challenges • Absence of e-Commerce laws • Resolving issues • Low entry barriers leading to reduced competitive advantages • Rapidly changing business models • Urban phenomenon • Maintaining brand reputation • Shortage of manpower • Customers won’t trust your website • Ensuring consistency and conversation
- 19. FUTURE TRENDS
- 20. Social Commerce Is Here 1 2 3
- 21. Driving Sales through Social Media
- 22. Driving Sales through Social Media
- 23. Driving Sales through Social Media
- 25. Social Media Customer Service A new study of 500 top retailers shows that only 20% answer questions sent via Twitter and 54% respond via Facebook. And the average response time ranges from 27–31 hours!
- 27. Conversational Commerce Conversational commerce is bringing back the business-to-customer dialogue where it’s been missing most: shopping online. • In one chat with a customer, you can: • Help someone make a purchase decision. • Handle any objections personally. • Upsell or cross-sell other products. • Offer discount codes. • Answer questions about “out of stock” products and notify customers when they're available again. • Get customer feedback. • Deliver shipping notifications. • ...All at the fast pace of instant messaging.
- 28. Its your time now!
- 29. Reach Me at harish@fests.info or harishkotra.me
Editor's Notes
- FREEWhile not all social media sites are free, many of the big names like Facebook, Twitter and Pinterest are. This means that there’s virtually no excuse for ignoring these valuable FREE marketing tools. Take time to explore their potential and track their results. SEO Search engines take cues from social media activities. The more people that “Like” or share your content on social media, the better your search engine visibility becomes. Simply put, search engines make deals with social sites like Twitter, and because of this, it’s pretty obvious that social media affects SEO in a very positive way. Customers Social media allows eCommerce stores to really engage with their clientele. In essence, these are just great platforms to ‘talk’ to people. Sites like Twitter and Facebook allow you to post information about new products, upcoming sales, or even behind the scene pictures of you unwrapping the latest merchandise received. You can also use social media to ask customers for insights regarding new product lines they may like to see or ask for customer reviews. Social media (more so than any other marketing tactic) nurtures customer loyalty by establishing a connection to your fan base. Traffic Building a social portfolio on major social media networks (like Facebook, Twitter, etc) allows you to drive traffic to your eCommerce store. Moreover, this traffic can be analyzed so you can learn how your social media efforts are resulting in increased traffic and conversions to your site. You may find that the more you post information about your store, the more traffic you see. Bottom line is this – getting customers to your website is an important component of your eCommerce strategy and a huge benefit of social media.
- For instance 100% FDI is permitted in entities involved in B2B e-commerce and not in retail trading. While promoting products or campaigns is an integral part of a brand's strategy, ensuring content is both relevant and valuable is vital.
- Facebook, Pinterest and Twitter have announced buttons that companies can use to post and sell their items directly through social networks. Shopify and Bigcommerce have Facebook Selling built in. Amassive opportunity for driving a high engaged audience to relevant product pages.
- Despite this clear disparity, there is no question that platforms such as Facebook, Twitter and Instagram have made leaps and bounds to monetise their audiences. In 2015, social media ad spending was expected to hit a massive $23.68 billion worldwide, 33.5% more than in 2014. At Twenga Solutions, this channel currently represents just 6% of paid traffic for our clients; however, the numerous innovations on social networks and impressive performance metrics – such as a 35% increase in CTR on Facebook – will only encourage this trend in 2016.
- Conversational commerce is an exciting shift in the world of tech and business. The convenience this affords consumers, from removing the burden of pre-purchase research to making payments only a few taps away, will build upon the already existing foundations laid by mobile and social commerce—in a big way.