Small and big companies are selling their products on social media platforms today. Research shows that in 2023, 4.89 billion people are expected to use social media and that this number is set to increase to 5.86 billion people by 2027. Here are the 8 best social media platforms for ecommerce in 2023.
There are plenty of social media sites you can use to sell your products but the ones best suited to your brand will depend on:
Where your target audience likes to hang out online
What kind of content your customers like to consume
Where your target customers are more likely to engage with online ads
Online stores with a social media presence drive 32% more revenue than those without. If you’re looking to drive more revenue and maximize your marketing ROI, it’s time you invest in social media ecommerce and tap into a global audience of 4.9 billion.
Social ecommerce, or the act of selling products or services on social media platforms, isn’t new by any means, Meta’s Facebook and Instagram, as well as its competitors TikTok, Snapchat, and Pinterest, are all platforms with built in social commerce features. Simply put, along with sharing pictures and memes, people can directly purchase products within the apps.
Selling products on your own ecommerce platform is important, but one of the next places you should consider selling online is on social media platforms.
You may need to test out different social media selling platforms to see which one converts the best for your audience, but doing some simple competitor research should help to guide your initial social media selling strategy.
To help you incorporate the right platforms into your marketing strategy, we’ll walk you through 8 of the best social media platforms for ecommerce.
Related: The 21 Best Affiliate Marketing Strategies for 2023
1. Facebook
All brands should launch a Facebook business page to help bolster their brand and increase sales. It doesn’t matter what niche you’re in, there’s a good chance you’ll find your target audience on Facebook.
Facebook is the biggest social media platform on the web. It boasts a whopping 2.32 billion monthly active users which is a third of the world’s population!
On the Facebook business pages, you can also establish Your Facebook store. However, according to Facebook rules, you can’t sell services, digital, or downloadable products from your Facebook shop.
In addition, you have Facebook Messenger Chatbots and Facebook Ads.
2. Instagram
With 2.4 billion monthly active users, Instagram is a fabulous platform for promoting your business. The means to use Instagram for business are among others, Instagram Stories, Instagram Shopping, Instagram Live, IGTV and Instagram ads.
Instagram is incredibly image and video intensive.
3. Pinterest
Pinterest has well over 250 million monthly active users. Pinterest is the perfect place to start your sales funnel. With Pinterest pins, you can build awareness around your brand and products, develop consumer interest, and increase traffic, but then you can also use Pinterest to boost in-store and online sales and influence users to take actions like sign-up to, purchase and install products.
Learn more about Pinterest’s promoted pins and the different audience targeting options.
Related: Scandinavian E-Commerce Trends 2022
4. Twitter
Twitter has as many as 330 million monthly active users and it’s a fabulous platform for microblogging. It’s also a great platform for strengthening customer relationships, growing your online following, advertising products and services and conducting market research.
With Promoted Twitter Accounts, Promoted Tweets and Twitter’s Promoted Trends
you can help improve your reach by promoting your account to users who aren’t following you already.
5. LinkedIn
LinkedIn boasts 303 million monthly active users and it’s an ideal platform for entrepreneurs looking to make a name in the business-to-business market.
There are three kinds of ads you can launch on LinkedIn: Sponsored Content, Sponsored InMail and Text Ads
LinkedIn’s ad targeting isn’t as sophisticated as Facebook’s, but you can still reach your ideal audience by setting filters like company, company size, job title, location, seniority, age, education, skills, etc.
6. Snapchat
Snapchat boasts a whopping 287 million active users a month and an increasing number of brands are using Snapchat to reach out to their audience – especially millennials.
Snap Ads: Snap ads are just interactive video ads. The best thing about them is that they boast a swipe-up rate that’s five times higher than other comparable social platforms. But, on average, these cost anywhere between $1,000 to $3,000 a month to run.
7. YouTube
With a reported 2.1 billion monthly active users, YouTube is the world’s most popular video platform.
Many of the biggest brands – including Coca-Cola, LEGO and American Express – regularly post content on a dedicated channel, and with good reason. According to Google, 70% of people have purchased from a brand as a result of seeing it on YouTube. However, patience is key. You need to build your audience before you get results on YouTube.
8. Tik Tok
A relatively new kid on the block in social media, TikTok lets you upload and share videos up to three minutes long. With 1 billion active users in more than 150 countries worldwide, TikTok has become universally popular in recent years – and its highly engaged users make it a valuable marketing channel for ecommerce brands.
In 2020, TikTok launched TikTok for Business, which lets business owners connect their online store and TikTok account. You can engage new and existing customers on TikTok by using hashtags, collaborating with influencers and running four different types of ads, including Dynamic Showcase Ads, Collection Ads, Spark Ads and Lead Generation Ads
To get started on Tik Tok, you can learn more here.
Related: 6 Reasons to Attend eCommerce Industry Events
The 8 Best Social Media Platforms for eCommerce in 2023 – Conclusion
Almost every company selling a product or service has a site that allows people to purchase directly. However, a website alone doesn’t help customers find your product. That’s where e-commerce marketplaces, social media platforms, and physical stores come into play. Social commerce complements your primary sales channel while improving brand awareness and customer experiences.
After all, doesn’t it make sense to use an existing audience, your reach, and engagement levels on these platforms to improve discoverability, boost sales and create better customer experiences?
For 2024 ecommerce statistics, click here.
The 8 Best Social Media Platforms for eCommerce in 2023, compiled by Tor Kjolberg