Influencer Orchestration Network™

Social Commerce Update: November 2023

Social Commerce ION update

Harnessing the power of influencers and authentic content, with features like TikTok Live Shopping or Instagram Shops is an opportune way to drive direct and/or incremental sales all within a single platform. 

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Social Commerce is the process of selling products or services directly on social media, per Hootsuite. Today there’s a plethora of native social shopping features, software, and tools in-app that allow consumers to purchase products where they are most engaged on social media platforms like TikTok, Instagram, and YouTube. Accenture predicts social commerce will grow three times as fast as traditional ecommerce, more than doubling from $492B worldwide in 2021 to $1.2T in 2025. Harnessing the power of influencers and authentic content, with features like TikTok Live Shopping or Instagram Shops is an opportune way to drive direct and/or incremental sales all within a single platform. 

As we continue to cultivate and nurture relationships with influencers and their communities, shoppable content is another avenue to explore and trial, especially around peak holiday shopping moments. Consider testing a collab with an artist influencer to develop merch (ie. custom-designed laptops) on NTWRK or partnering with a tech-savvy influencer like Digital David to showcase Intel device deals for the holidays on Amazon Live. Social commerce will continue to evolve with consumer shopping behavior to provide a frictionless shopping experience. 

Few examples showcasing the promising output of brands incorporating social commerce as a tactic in sales marketing efforts:

  • Mitsubishi Motors revealed their new 2022 Outlander on Amazon Live and drove Live event views that hit more than double the target goal in half the time allotted and scheduled test drives booked out completely for the first full month after the Amazon Live event.
  • 23andMe promoted its Prime Day deals via an influencer-produced stream with Nicole Mejia on Amazon Live. Total ROI was 8X the Amazon Live benchmark, and more than 91% of its Amazon Live Prime Day campaign sales came from new-to-brand customers.
  • P&G’s Super Bowl video stream with Walmart featured Deion Sanders and promoted P&G’s GilletteLabs razors in real time; garnered $5M in incremental sales, and $8.5M worth of purchases from customers new to the brand.

Brands and retailers are investing in social commerce for the creator economy at large:

  • Visa announced the launch of the Visa Ready Creator commerce program, a global initiative to help creator-centric platforms, such as social commerce and video gaming companies embed financial tools for faster and more flexible payouts via Visa Direct, tipping and donations.
  • Walmart invests in social commerce with their new creator platform which enables and incentivizes creators to develop shoppable content around Walmart’s merchandise.