As another year slips by, marking the end of a decade, it’s time to wax nostalgic about the evolution we witnessed in the ‘10s, and prepare for an even more energizing landscape for ecommerce in the ‘20s.
These aren’t the Roaring Twenties romanticized in history books and pop culture, but rather a digital form geared toward harnessing the avalanche of opportunity available through Internet channels. It’s not likely that anyone in the Flapper days foresaw social media – although they would have loved it – but embracing the festive, carefree demeanor of that era is not a bad way to approach your business pursuits as we say goodbye to yet another year and decade.
So what trend-setting developments are we likely to see come January? What ingenious tactics and offerings will pose tempting ways of boosting your business?
Let’s start with customer engagement. If your patrons love you, put them to good use by involving them in social media campaigns. Hashtags go a long way on Twitter and Instagram, so why not come up with a catchy phrase involving a product you sell or your business name, and let it fly?
#AtlanticTradersHolidaySale – that hashtag generates a discussion of your personal shopping space. Sound fun? Try it!
If you’re not up to speed on how to execute hashtag campaigns or even use them effectively, GoDaddy has a great tutorial.
Another way to work customers’ and potential customers’ personal lives into your web is to entice them with personal touches. Social media “customer care” demonstrates your interest in serving them in a way that matters. Put simply, it’s not sufficient to set up Facebook pages, Twitter feeds, and Instagram accounts. Reaching out to customers and being responsive to their input will get you places. Be sure to monitor and respond to ALL comments made to your Facebook posts. If someone has a complaint, apologize for their experience and offer to fix it. If someone gushes over your product or service, thank then back with equal enthusiasm.
Having dedicated myriad blog entries to the intersection between ecommerce and the largest (and perhaps oldest) social media platform ever, we now pivot to discussing a new development that may solidify its strength as a go-to space for advertising.
Facebook is no longer floating the pretense that its primary goal is social networking. While that’s the carrot on its stick, the California-based company is creeping into every sector it sees as a potential revenue target. After buying up several ancillary companies and applications, it is now set to revolutionize electronic payments through a newfangled offering featuring currency of its own. It’s called Libra.
There are countless factors that apply, from regulatory, to profitability, to projected success. But the clear picture takes a shortcut for ecommerce vendors, and that is one that makes Facebook rise again to the top of the list of advertising venues you should consider.
The Bitcoin-like currency, which may be called Facebucks or Coin, won’t be exactly like crypto. And it won’t be shady and underground, susceptible to nefarious use. Libra will be woven into a payment system designed for the 2 billion worldwide Facebook users to centralize a monetary source within the Facebook platform by purchasing “tokens” to use for purchases outside of Facebook.
The good, and the better
For vendors who peddle online, this is intriguing. It means that in addition to the bevy of payment transfer options now in place, this is accessible through an app they may be using for multiple hours per day.
But payments may be made to any participating vendor, and if you’re smart, you’ll consider getting on board with Libra. Here’s why:
Facebook says it intends to eliminate the conventional transaction fees associated with credit card and debit card use. This will need to be absorbed into Facebook’s revenue structure, and presumably they have confidence that is doable without taking a huge hit.
It’s a windfall for merchants who are already comfy advertising on Facebook, and an enticement for others to hop on board.
Envision a Facebook user perusing their news feed, and coming across your sponsored ad. They see the photo; they click through to your site. Already having accessed you through Facebook, they may, according to Facebook, be in a FB State of Mind, and have no qualms remaining signed in and making a purchase using their Facebook currency.