According to research by McKinsey, social commerce revenue in the United States reached $37 billion in 2021—a figure that is expected to increase to almost $80 billion by 2025. With so much money on the table, many brands are scrambling to determine the best ways to integrate social commerce into their sales strategies.
Social commerce is expected to see such explosive growth over the next few years, brands seeking to jump on the bandwagon need to do their research and create a strong strategy to find success. Below, members of Forbes Agency Council share important things that brands looking to leverage social commerce in 2023 need to keep in mind to ensure the return on investment makes their efforts worthwhile.
1. The Fundamentals Must Be Correct
We often see companies not investing in getting the fundamentals correct. Take time to ensure the backend “plumbing” of your pixel setup and after-the-click experience is top-notch. After those steps are completed, look to make creative that is appropriate to the platform. Working with creators, large or small, is a great place to start! - Nate Lorenzen, Dysrupt
