That Facebook is the king of social eCommerce marketing is not a surprise. After all, the social media giant is the number one social networking site on the planet.
The platform is by far the leading driver of social media referral and web traffic to business websites and apps, including those selling products.
Some new researches have revealed that Facebook’s growth has become relatively stagnant while other social networks are growing much faster. But we still think that Facebook has the capability to continue to dominate social eCommerce.
Some popular marketers believe that no social networking website is comparable to Facebook when it comes to social eCommerce marketing or driving web traffic to a business website.
It’s this kind of belief that still makes Facebook a dominant platform in today’s social media marketing landscape.
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But will Facebook continue to dominate social eCommerce? According to Pew Research, Facebook remains the most popular social media site though growth on the site has largely plateaued.
There has not been a significant change in the overall share of users since 2012. The same Pew study also states that “those on Facebook remain highly engaged with 70% saying they log on daily, including 43% who do so several times a day.”
So will Facebook continue to be the business’s best means of social media-generated sales for the foreseeable future? Below are some of the reasons why Facebook continue to dominate social eCommerce:
#1]. Better conversion rates
According to ChannelAdvisor, about two-thirds (64%) said Facebook creates the most sales conversions for their businesses.
Facebook is doing great in sales conversions for businesses as revealed in a research study by ChannelAdvisor. The study looked at online retail trends based on a poll of 200 online retailers including 100 in the US and 100 in the UK.
The study showed that Facebook is performing better than Twitter, Instagram, Pinterest, and others in terms of conversions from social media platforms.
About 19% said Twitter creates the most sales conversions for their businesses compared to Facebook’s 64%. However, 9% said Instagram creates the most sales and just 5% said Pinterest. Remember that Pinterest is often looked upon as the eCommerce darling of social media.
#2]. Visitors spent 3.5X more than others
In its recent research study, Jirafe – commerce data provider – looked at the impact of Pinterest and Facebook across 80,000 profitable eCommerce sites.
It found that Facebook visitors spent 3.5X more than the average visitors from Pinterest, and Facebook traffic converted 17% higher, though the conversion rates for both sources were still less than 1%. Still, Facebook drove much greater traffic at a ratio of 8:1.
The study also found that Facebook drove 23X more orders than Pinterest for merchants over the first five months of the year. Across Jirafe’s merchant base, Facebook also drove $32 in revenue for every $1 that Pinterest generated.
#3]. Facebook continues to innovate
Another reason why we think Facebook will continue to dominate social eCommerce is that the social media giant continues to innovate and adapt to users’ needs.
Other social media platforms such as Twitter and Pinterest as well as other non-social channels are also competing with Facebook.
Even though Facebook is increasingly facing serious competition on eCommerce features, we think Facebook is doing more than other platforms to improve and innovate.
The simple fact is that beyond its buy button functionality, Facebook is also testing various features, including the ability to shop from Facebook Pages.
Facebook is also testing a new “Buy & Sell” feature from its main navigation, which will point users to places to buy (and sell) things, basically transforming Facebook into an eCommerce marketplace.