Why Many View Facebook Commerce as Online Retail's Future
As an eCommerce business owner, you need to reach your customers where they hang out online. Right now, that tends to be on the world's biggest social media network - Facebook. Currently, around 70% of adults in America use Facebook on a daily basis - meaning that including a Facebook eCommerce strategy in your marketing approach would seem wise.
The truth is, Facebook may represent a goldmine to your eCommerce business, and with this in mind, we take a closer look at exactly what Facebook Commerce offers.
Why Facebook Commerce is the Future of Online Retail
In addition to being home to the largest social media audience in the world, Facebook offers a range of useful resources via its Commerce Manager program. Also allowing you to manage your business across Instagram, the platform allows for easy onboarding and setup.
To many, Facebook embodies the future of online retail. But why is that, with so many other options on the table? Well, the platform's colossal audience is a start, but it's far from all.
Whether talking about experiential technology or novel ways to boost customer loyalty, there's much an eCommerce Facebook Ad Strategy can do for your business. As Meta VP Dan Neary recently said, "The future of commerce is conversational", and Facebook Commerce gives you all the tools needed to leverage that fact.
An Easy Onboarding Process
The simple process of opening a Facebook Commerce Manager account starts with your Commerce Manager taking you through the onboarding process. Based on whether you want to integrate Instagram Shop galleries, Facebook, or both, you'll get help with linking your business accounts. You also get assistance with:
- Setting up a secure onsite checkout
- Setting privacy & security controls
- Accessing customer support
- Managing your inventory
- Fulfilling/tracking orders
- Your bookkeeping
Essentially, there are three ways your business can be set up on Commerce Manager, with the first being Self-Service. This is an option for any business not already working with one of Facebook's partner platforms and who don't require extra API engineering support.
The second option is via Partner Platforms such as BigCommerce and Shopify - allowing you to import & sync your products easily. And the third is API Integration, which allows you to test out your virtual shop and preview the kind of experience customers get.
The Pros & Cons of Selling on Facebook: Is it Right for Your Business?
Facebook undoubtedly offers major advantages in the eCommerce world, but is it for everyone? From big brands to small vendors, many benefit from Facebook's many features, but in the interests of balance, there are a couple of drawbacks too.
The Pros of Facebook Marketing
Selling the merits of Facebook in terms of marketing isn't difficult. There are roughly 2 billion active monthly users, with 32% regularly engaging with brands on the platform. Other major benefits of Facebook marketing include:
- Customized Page Design - Facebook allows you to create highly customized pages that are visually appealing to visitors. Emblazoned with your brand colors, you or your eCommerce Agency can create visitor experiences that are very similar to the kind you get on your website, meaning a consistent brand perception and voice.
- Great Share-ability - One of the most appealing parts of social media platforms like Facebook and Instagram is the ‘Like’ feature, as well as the buttons for commenting and sharing. As such, when a customer loves something you sell, they can share it with everyone they know for maximum exposure to like-minded people.
- Direct Consumer Contact - The 2-way conversation that social media platforms provide allows both sellers and buyers to communicate with each other. Direct messaging, video chats, Facebook Lives, voice calls, and comments allow customers to get answers to their most pressing questions. The interaction it generates is great for both sides.
- Comprehensive Analytics - Ask any good social media agency, and they'll tell you that the insight provided by the platform's comprehensive analytics suite can be hugely valuable to your marketing efforts. You can tell who's visiting your store, their demographics, and much more besides, allowing you to provide the best possible products and services.
The Cons Include
- The Expense - Regardless of whether you work with an eCommerce Facebook Ad Agency to develop your Facebook store or do it yourself, it can get a little pricey. Of course, you have to speculate to accumulate, so the investment is necessary, but you need to consider the cost and ensure that it aligns with your available budget.
- Slow-Loading Sites - Look at a few reviews from Facebook marketers, and you'll see a few complaining about slow-loading stores. You've only got a few seconds to grab the attention of visitors, so it can be an issue.
However, this tends to be site-wide, meaning that regular Facebook users will likely already be used to the delay, meaning they're less likely to be put off.
As we can see, the pros of Facebook Commerce primarily relate to the way its features help you to reach more people, drive traffic and ultimately improve your bottom line. The cons listed are mere friction points that can be overcome - meaning they're at the minor end of the spectrum.
Getting an Effective Facebook eCommerce Strategy
Making claims like Facebook Commerce is the future of online retail might seem like a grand and sales thing to say about a social media platform, but it happens to be true. With so many monthly active users on the platform, each with their own needs and wants, the potential audience is massive.
Facebook Commerce allows you to leverage this rich resource with targeted campaigns while also continuously gaining feedback from your audience. Throw in the ability to create a store that looks like your own website and deep analytics, and its appeal becomes startlingly obvious. If lead generation is your thing, then this can definitely be one great option for net new customer acquisition.
With margins being pinched by high fuel costs and the rising cost of living, Facebook Commerce offers a boost to marketing that can't be ignored. If you're not yet leveraging this rich resource for your online retail business, perhaps it’s time to ask yourself why.