Social Commerce & The Future of Social Shopping

The big picture: The concept of social commerce took root during the early days of eCommerce. But it was the mobile revolution, plus the meteoric rise of social media titans like Facebook, Instagram, and Pinterest, that enabled this approach to truly disrupt digital shopping.  

Social commerce focuses on convenience and relationship-building, tapping into unplanned discovery moments as consumers scroll through inspirational content. Watching real people interact with products helps shoppers understand and visualize them better, building confidence around online purchases.

For marketers, this shift toward social platforms reflects new expectations set by Gen Z and millennial shoppers who increasingly make purchases directly via social apps. It is an opportunity to maximize reach and nurture lasting brand relationships by organically integrating into the customer journey. Platforms now orchestrate a seamless, trust-based shopping experience where inspiration can instantly lead to purchase.

Why it matters: Despite expectations that eCommerce will surpass 8 trillion dollars by 2027, consumers are becoming increasingly wary of how much of their personal data they share with online marketplaces and brands. Marketers may accidentally push these hesitant consumers further away by pushing hard-sell messaging to audiences who are still considering their product. These tactics are the online equivalent of the over-eager salesperson peppering you with corporate scripts about deals and asking you to open a store credit card when all you were looking to do was casually browse. They’re annoying. 

But casual browsing presents an excellent opportunity for brands to humanize their eCommerce messaging. This shift toward Social Commerce allows for the ease of purchase and speed of online shopping while giving consumers the chance to window shop again. 

How it works: The goal is to remove friction when interest strikes while also organically introducing additional products based on what originally caught their eye.

  • For example, when a consumer admires a product shown by an influencer they trust, social commerce allows them to seamlessly find that item or brand’s storefront to browse and buy. They will be able to find those glasses and discover a range of other items, enhancing their shopping experience. 

Done well, the experience guides consumers through an intuitive path to purchase via content they already enjoy. This allows brands to inspire consideration and visibility of products in authentic contexts rather than disruptive ads. Social commerce puts the shopper first – their organic journey dictates the path, not predetermined funnels.

How to start:

  • Ensure your brand has ‘virtual storefronts’ across online marketplaces and social media platforms, keeping in mind that the virtual aesthetic is just as important as physical store décor. 
  • Create natively social, shoppable content and tap influencers who have an authentic tie to your brand. Small influencers are essential: the recommendations of these content creators drive 86% of purchases — just as strong as recommendations from a trusted real-life friend. 
  • Explore how to repurpose authentic user-generated content (UGC) in your marketing materials. The goal is to facilitate organic community engagement and discovery around your brand versus hard-selling. 

The bottom line: The future of brand loyalty lies in shoppable communities, where shared values and experiences fuel organic amplification. Social content creates better browsing experiences, allowing consumers to discover items at their own pace before being hit with hard-sell messaging. Social Commerce provides an authentic, engaging discovery experience — adding the human touch back to your eComm strategies.

Navigating the Evolving Digital Video Landscape: 2024 Trends and Strategies for Marketers

In the digital realm, we’ve witnessed firsthand the transformative power of converging technologies and evolving consumer preferences. The intensifying battle for user attention, the ubiquity of smartphones, the proliferation of streaming services, and the growing appetite for immersive, personalized experiences have propelled video to the forefront of content consumption, surpassing text-based alternatives.

2023 saw video marketing become the cornerstone of engagement, revolutionizing business connections. This surge showcases diverse content and devices catering to personalization, authenticity, and educational value, making video king in marketing strategies.

Video & The Consumer Consumption Landscape 

Imagine captivating a global audience of 3.5 billion by 2023. That’s the video revolution unfolding before us, and the screen time speaks for itself: Americans spend over 7.5 hours glued to screens daily, devouring video content with unmatched fervor. Marketers are chanting in unison: video reigns supreme in social media marketing. Over half (54%) have named video as the sovereign ruler, with its unmatched ability to enthrall audiences, educate them, and spur them to act.

 

Smartphones have become the go-to device for digital video consumption, embraced by 69% of U.S. adults. This shift away from traditional television is fueled by the widespread adoption of 5G connectivity, with nearly one in four smartphone owners streaming videos on the go.

 

While mobile video remains significant, connected TVs (CTVs) are poised to take the lead with video accounting for 90% of CTV content. This trend will reshape the digital video landscape by 2025, with CTV video, social video, and YouTube taking center stage. Subcategories like SVOD and TikTok will further solidify the dominance of CTV video and social video.

The Impact For Marketers: Digital Video Advertising Spend & Strategy

The global video advertising landscape is experiencing a seismic shift, propelled by user consumption patterns. With an expected video ad spend reaching a staggering $180 billion by year-end 2023, it’s clear that video is king. The United States leads the charge, with a significant portion of that budget allocated to search and social video ads. Both channels exhibit a strong mobile bias, while their presence on CTV remains limited.

 

But this is changing. CMOs are discovering the undeniable power of video, with a 24.74% increase in brand lift and recall, 21.71% improved user experience, and a whopping 40% boost in brand perception. This translates to a more engaged and informed audience, ultimately driving brand awareness and loyalty. While video’s direct sales impact sits at 15.65%, its ability to nurture leads and build trust makes it a vital tool for marketing teams. This is evident in the fact that 68% of marketers track engagement, and 51% now measure lead generation and conversion rates, recognizing video’s true value beyond just views and likes.

 

2023 witnessed a critical development in this evolution: a wave of CTV adoption across diverse industries, with retail, health & wellness, and CPG leading the charge. By 2027, retail media spending on CTV is projected to reach $8.64 billion. Yet, a crucial challenge remains: our lagging migration to CTV. Despite consumers spending a whopping 25% of their time on the platform, advertisers are underinvesting, allocating a mere 9.5% of digital ad budgets.. Concerns about limited inventory and premium pricing are holding us back.

 

It’s time to overcome these hurdles and unleash CTV’s potential. By collaborating and harnessing its power, we can reach target audiences where they are and achieve unparalleled success in this transformative era. The video advertising landscape is ripe for innovation and growth. By embracing the full potential of video across platforms, we can unlock unprecedented opportunities to engage with audiences and build lasting brand connections.

Trending: AI-Powered Digital Video Creation & Personalization

In the competitive landscape of 2024, AI-powered personalization and audience insights can elevate your video marketing campaigns to new heights of engagement and effectiveness:

Key Takeaways for Marketing Professionals

  • Embrace AI-driven personalization while prioritizing authenticity: Audiences are craving real connections, not manufactured perfection. Refine your content to resonate on a deeper level, but steer clear of anything inauthentic. Micro and nano-influencers who spark genuine conversations are your secret weapon. And remember, transparency is key – be upfront about AI’s role in crafting your message. This authenticity is your golden ticket to engagement, trust, and brand loyalty.
  • Utilize AI for efficiency, not replacement: Automate tasks and gain insights, but don’t let it replace human creativity. High-quality creative content remains essential for impactful marketing campaigns.
  • Craft personalized video journeys with AI-powered insights: Analyze customer data and deliver hyper-personalized video content, tailored to individual interests through dynamic elements, interactive experiences, and customized recommendations. It allows you to lean into using an inclusive approach by going beyond surface-level metrics while driving engagement and fostering loyalty.

Unleashing Innovation through Experimentation

  • Streamline your video production process & elevate your marketing videos with AI-powered platforms, empowering you to easily create engaging videos. These platforms can be used to create videos from text, add AI-powered voiceovers and avatars, and craft captivating social media videos.
  • Harness the power of AI-powered creative effectiveness platforms to revolutionize your campaign planning, video testing, and media planning. These platforms utilize advanced technologies like facial coding, eye tracking, and computer vision to provide unparalleled insights into your target audience’s behavior and preferences.
  • Foster inclusivity by leveraging AI-powered dubbing tools to unlock global audiences, enhance accessibility, and expand your video’s reach by removing language barriers through dubbing, subtitles, and captions.

Trending: Cross-screen, Cross-channel Advertising Solutions

As audiences divide their attention across various devices and engage in multitasking, marketers must reimagine their video advertising strategies to win them over:

Key Takeaways For Marketing Professionals

  • The rise of Netflix and Prime Video’s ad-supported tier: As CTV advertising gains traction and linear TV struggles to find its footing, Amazon’s Prime Video ad-supported tier is set to fuel a surge in ad spending. This presents marketers with a wealth of new diversification opportunities using multi-platform video ad campaigns to engage with a broader audience.
  • Distinguish your brand and engage viewers with premium-produced video ads: UGC’s authenticity and relatability can be highly effective, but its production quality often falls short of premium video content’s polished and refined aesthetic. As streaming TV continues dominating viewing habits, marketers should prioritize premium video content to capture attention and drive results.
  • Fragmented media consumption necessitates a multi-screen marketing approach: With 5G technology enabling seamless video delivery, marketers can now craft engaging ad experiences that adapt to individual viewing habits. By leveraging an omnichannel approach, you can ensure your message reaches the right audience at the right time, maximizing the impact of your campaigns.

Unleashing Innovation Through Experimentation

  • Streamline the shopping journey by incorporating shoppable CTV video ads: Seamlessly integrate product information and purchase options within your video ads, enhancing engagement and driving immediate conversions.
  • Tap into the massive audience consuming live sports online: As digital platforms compete for your ad dollars, unlock premium inventory with NFL Sunday Ticket on YouTube. Reach paying subscribers, traditionally targeted by major brands, with the precision of digital advertising. YouTube’s “multi-view” expands this inventory, offering even more targeted ad placements.
  • Long-form video investments drive exponential returns: Let performance, not production value, guide your video investments. Embrace a data-driven, multi-platform approach, and repurpose the content that truly connects.

Trending: Embracing Interactivity, Live Streaming, and Format Diversity

Marketers should strategically embrace the versatility of vertical and horizontal videos, strike a balance between short-form and long-form video content, and engage audiences in an interactive and immersive modern world:

Key Takeaways For Marketing Professionals

Unleashing Innovation Through Experimentation

  • Incorporate AR elements & VR experiences: Overlay virtual objects and graphics onto real-world scenes to create an interactive and immersive storytelling experience. Transport viewers into a virtual world where they can interact with your brand’s story and products in a fully immersive environment.
  • The Synergy of Branching Narratives and Gamification: By allowing viewers to choose their own path and incorporating engaging gameplay elements, you are enhancing viewer engagement, collecting valuable data, personalizing product recommendations, and fostering deeper connections. 
  • The powerful trifecta: Live shopping experiences, combined with horizontal and vertical video formats, and creator content, can create a powerful video advertising strategy that resonates across platforms and drives meaningful engagement with their target audience.

Digital video has emerged as a formidable force in the modern online world, offering marketers an unparalleled opportunity to captivate audiences and foster meaningful engagement. Marketers who fail to incorporate video into their strategies are forfeiting a valuable opportunity to connect with their target audience.

By embracing the evolving trends and unleashing innovation through experimentation, marketers can effectively navigate the ever-changing digital video landscape, establish deeper connections with their target audience, and achieve their marketing goals in 2024 and beyond.

Breaking Down The Barriers Between B2B and B2C Marketing

Bringing Humanity to the Core of Your Marketing Strategy

Digital transformation has definitively blurred the lines differentiating the traditionally siloed B2B and B2C marketing practices. It doesn’t matter if you’re purchasing products or services, for a business or as consumers — we’re all human.  By focusing our attention on what matters most, the people, it becomes clear that the concerns we have aren’t unique to B2B or B2C marketing; they’re mutually shared. 

Understanding that these two worlds converge allows marketers to identify and evaluate emerging technologies and trends from a lens of humanity, creating space to innovate and avoid false limitations of what qualifies as a B2B marketing strategy and what is more “appropriate” for B2C. 

Deloitte’s 2023 Global Marketing Trends Report offers a perfect roadmap to reframe our mindset and humanize B2B marketing.

  1. Answering economic instability with marketing investments
  2. Driving growth through internal sustainability efforts
  3. Using creativity as a force for growth
  4. Adopting rising marketing technologies 

Here’s how marketers can apply these four trends to create a human-to-human (H2H) strategy and bridge the gap between B2B and B2C marketing.  

Weathering Economic Uncertainty With H2H Marketing

We’re faced with the challenge of trying to plan without fully knowing what lies ahead amidst uncertain economic times. Value becomes more important than ever when times are tough. We need to find new ways to add or communicate value and meet human needs through personalized experiences. This is where smart use of data becomes your secret weapon, and is actually expected by three-quarters of consumers, according to McKinsey.

Data will lead us to the points of contact with advertising [that] are increasingly personalized and more relevant” In other words, how can we make each touchpoint in an omnichannel marketing ecosystem feel authentic and personal? Once we pinpoint what drives the biggest impact and makes people feel valued, we can tailor solutions based on those preferences. Put this into practice by strategically investing in conversational marketing. While customers appreciate personal, human interaction, they don’t want to give up the convenience of automation. We can offer the best of both worlds by pairing a human-centric strategy with innovative technologies like targeted marketing, live chat and AI.

Trust, Sustainability and a Human-Centric Culture

In the wake of 2020, B2B and B2C marketers alike were faced with some of the most disruptive crises in recent history. Fast forward to 2023, and “trust, values, and integrity are at the forefront of what customers expect from businesses they shop with. Customers expect brands to demonstrate rich and solid values in 2023, prioritizing ethical, social, and environmental responsibilities.” 

Marketing leaders from both disciplines have a lot more riding on their shoulders with 88% of consumers awarding trust as their top value during times of change. And out of that pool, 78% of their purchasing decisions are influenced by businesses’ environmental practices. It’s no longer simply about growing revenue; it’s about growing your business responsibly. Having a true Environmental, Social, and Governance (ESG) policy in place can not be an afterthought or a nice-to-have. It is pivotal for long-term growth.

Deloitte highlights three core strategies to build intentional ESG marketing practices:  

  • Implementing more sustainable internal marketing practices 
  • Making long-term commitments towards reducing the carbon footprint, and
  • Promoting more sustainable product and service offerings

The best way to take this on is to utilize one of the core tenets of the H2H approach: self-awareness. Taking the time to measure and evaluate your sustainability practices requires effort and forces you to take an honest look at your business practices as it relates to carbon output.   

Here are some great examples of eco-friendly practices that support this human-centric approach:

Driving future growth is dependent on a commitment to  sustainability— or at least, that’s what 55% of marketers are saying. Making a commitment to ESG programs opens the door for brands to mend broken relationships, form new connections, and nurture trust across audiences – both B2B and B2C. 

Creativity is the Main Character in Brands’ Growth Paths

49% of marketers believe the ability to integrate sophisticated analytical capabilities into marketing strategies is critical for long-term success. However, marketers must act on their analysis in a human way to maximize impact. 

Cristian Cabello, CMO of Derco, illustrated that ideology by saying, “Brands should blend data with human-centered methodologies to create a more complete picture of the customer, prevent mistakes an algorithm can’t always understand, and cultivate connections with the customer.” In other words, data is simply data if you fail to tell an emotionally compelling story with it. 

Research shows that people want to hear stories from brands and over half are more likely to buy products from brands whose stories they love. Messages built around a personal story are:

  • More memorable and easier to process 
  • Break away from corporate language and technical jargon 
  • Enable honesty and transparency with engaging analogies
  • Use authenticity to knock down barriers

As professional storytellers, B2B marketers should make content relatable and personable to build deeper connections with prospects and stakeholders. Consider using channels from the B2C playbook, like influencer marketing. Lean into this era of co-creation and explore new partnerships and platforms that will generate a stronger brand community. 

Adopting Rising Technologies with a Human Touch

We can’t help but pay attention to industry chatter around emerging trends and technologies. But, over-investing in something unproven can be unwise. Finding the balance between the hype and worthwhile investments could mean the difference between creating a competitive advantage or falling behind.

In the coming year, B2B marketers should consider:

  1. Taking advantage of AR/VR for experiential B2B marketing interactions: This strategy allows for data-driven decisioning and delivers on the growing expectations for more personalized and engaging consumer experiences. For example, Nestlé Purina Petcare has implemented 3D VR technology to assist retail partners with better in-store merchandising.
  2. Exploring the metaverse’s role in the customer experience: Data shows that those who fail to create a strategy to join the metaverse may lose the opportunity to become a leader in the space. 17% of US marketers are active participants, whereas 40% are laying the groundwork to expand engagement and experiences in the metaverse.
  3. Using blockchain technology to strengthen data privacy: Blockchain offers new possibilities to bolster privacy and give control back to consumers. For example, in the healthcare sector, blockchain technology can store, share and utilize data to communicate with patients without sharing data with a third party.

Customer expectations are shifting, and with them, the distinction between B2B and B2C marketing is collapsing. Taking this in stride by prioritizing a holistic human-to-human approach is a future-proof way to respond to the perpetual disruptions caused by digital transformation and technology. We can stop over-complicating things and opt to simplify our approach by bringing it back to what matters most: we’re all human. 

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