According to Facebook, they have more than two billion users and more than 140 million businesses use their apps to connect with customers. Social selling via social media platforms such as Facebook is a growth opportunity for South African businesses.
As part of its on-platform purchase option strategy, Facebook acquired a video commerce start-up. A modern twist on the original home shopping network, this video commerce business is focused on enabling users to make direct product purchases via videos being broadcast live. After all, everyone with a mobile phone watches videos.
Facebook has been building an on-platform cryptocurrency, aiming to facilitate fee-free fund transfers within its network. Once people are moving money around within the Facebook system, it will be so much easier for them to make on-platform purchases. Facebook is also expanding to Facebook Pay and WhatsApp Pay, with Instagram most probably the next platform for eCommerce expansion.
To expand its on-platform purchase options, Facebook also acquired an app with more than 2 million users, focused on the Indian marketplace, connecting sellers with customers through WhatsApp. Users in Thailand consider the use of live video a more effective way of presenting products and facilitating consumer queries in real-time. So, East Asian markets such as Thailand seem to be the next region for Facebook’s online shopping push.
Emerging markets have billions of users, and if Facebook can expand the utility of its platforms into shopping and payments where users pay bills or use the platform as a bank, these everyday actions can become critical for Facebook. Potentially making Facebook an essential app for many users in emerging markets within Asia, South America and Africa, including South Africa.
WSI OMS can help your business expand its social selling abilities on various social media platforms, including Facebook. Create a personal, effective social media presence to engage with customers online. Contact us if you want to change your business with social selling.