Recently, a study done by L2 showed that Facebook and other social media sites are failing the fashion industry when it comes to driving sales. While many once thought that social media was poised to become the next frontier of ecommerce, Facebook-based stores have largely been unsuccessful at increasing profits. If social media cannot translate directly into sales, what is its role in ecommerce? Many argue that social media is intended to build your brand and draw interest rather than increase sales directly.
Fashions Fails on Facebook
The study conducted by L2 found that companies who set up Facebook stores have largely abandoned them due to lack of consumer interest. In addition, the results also showed that Facebook and other social media sites are not a viable way to draw in new customers. Even those customers acquired through social media were likely to spend less money on the brand. Overall, social media appears to have failed the fashion industry. However, social media does provide value through search rankings and advertisements. The trick, it seems, is to take advantage of social media in specific ways that indirectly increase profits rather than directly.
Branding vs. Ecommerce
While sites such as Facebook were thought to be the future of ecommerce through increased transactions and social media based stores, experts instead argue that social media is about building awareness of your brand and connecting with consumers, or even creating a loyal community. In other works, you can measure the success of your business on social media through the number of likes, comments, and shares you get rather than the direct profits that you make.
How to Improve Sales
When marketing on social media, there are a few approaches you can take to utilize what social media can offer your company. Most importantly, you should focus on building a conversation and a community around your brand.
- Center on Customer Engagement: The most important way you can take advantage of social media as a fashion retailer is to engage your customers through content that incites likes, comments, and shares. Social media is not inherently about selling, it is about connection and dialogue. Customer engagement will indirectly increase sales by drawing consumers into your brand.
- Focus on Your Products as Content: When it comes to producing content, the best way to translate communication into sales is by focusing on your products. Using Instagram is a great way to showcase your products, as is Vine for tutorials and behind the scenes videos.
- Be Creative and Innovative: Finally, there’s nothing worse than seeing the same thing over and over again on social media. Be creative with your marketing strategy, and constantly change it up to ensure that consumers are coming back for more.
How has your brand successfully made sales through social media?
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