Facebook plays a major role in ecommerce. Despite its younger competitors, Facebook is still the king of social media. It’s the most used social platform with nearly 2.60 billion monthly active users (Facebook, 2020).
In this article you’ll learn about:
Last Updated on December 8, 2023 by Zeljko Drazovic
FREE download: Facebook ecommerce guide
In terms of using social media for business, depending on the type of your business, some platforms may work better than others. Still, the most popular social networking site is Facebook. It’s followed by YouTube, WhatsApp, WeChat and Instagram.
As Facebook changes and evolves frequently, it’s crucial for online sellers to stay on top of Facebook-related stats & facts like demographics, usage and platform trends.
Top 15 Facebook usage & ecommerce stats and facts:
78% of US consumers have discovered retail products to buy via Facebook.
Facebook is one of the leaders when it comes to sales conversion rates among social networking sites so let your potential buyers use Facebook to buy from you. Add a ‘Shop Now’ button on your Facebook page, if you haven’t already done so.
Use smart calls to action and engaging product descriptions in your Facebook advertisements. Additionally, facilitate the engagement of your buyers (likes, comments, shares) by including social media buttons on your website.
A few facts to help you increase engagement and ecommerce conversions on Facebook:
In Q1 2020, Facebook brought in $17.44 billion in ad revenue (Facebook, 2020). Average revenue per user is USD 6.95. In the USA 86% of marketers are using the platform for advertising (Emarketer, 2018).
Interestingly, by the end of 2020, Instagram is projected to have a significant share of Facebook’s overall ad revenue. Due to increased engagement with Stories, compared to Facebook, ad spending on Instagram is 23% higher. There are some good growth opportunities available for advertisers on Stories.
Ecommerce advertising works. However, with thousands of businesses already advertising on Facebook, it may not be easy to grab the right audience’s attention.
You’re unlikely to be the key player on everyone’s wall, but you can still reach the right audience.
If your content is short, catchy, attractive visually and action-oriented, it may bring you satisfactory conversion rates. For more tips, download our Facebook guidebook.
Planning your Facebook strategy goes beyond posting regularly and winning likes. It’s more about meaningful engagement that should eventually lead to more sales.
Facebook plan & content strategy: 5 steps
It may be easier and cheaper to make instant profits from immediate sales. It takes a bit more effort to make your customers come back to your shop. Thus, take your time to get to know them, share something valuable with them and nurture your prospects.
Form quality relationships right from the beginning: get to know your potential customers, their needs and expectations before they become your actual clients.
The moment you learn what they need, provide them with a solution or a tip
Instill trust and loyalty first. It’s likely that when they finally do need your product, they will turn to you first.
Think of the entire lifetime value of a customer as opposed to the customer acquisition cost.
Many businesses aim at the lowest customer acquisition cost, which seems a good solution short-term. Long-term, however, more investment in the customer at the initial stages is likely to provide you with loyal, returning buyers.
When you have won pre-transactional contacts, it’s time to turn them into customers. Read more on how to achieve this in our guidebook.
Facebook users tend to bombard one another with posts, updates and ads: minute by minute, second by second. Make sure your voice is heard in the screaming world of social media.
Your takeaways from this article:
Finally, for advice on how to grow your domestic & international ecommerce sales on marketplaces, contact our cross border specialists.
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