The ability to purchase products and services directly from small business’ Facebook pages could help encourage convertsions, according to a recent report from Booz & Company. The use of social media marketing could be a differentiating factor for small businesses moving forward.
Booz & Company reported that U.S. social commerce generated about $1 billion in 2011out of about $5 billion spent around the world directly on businesses’ social media marketing pages. Booz expects U.S. shoppers to continue to drive social spending growth in 2012, predicting $3 billion worth of purchases will stem from social commerce in the United States this year. By 2015, Americans are expected to spend $14 billion on goods and services purchased through social.
Currently, the two biggest barriers to acceptance of social commerce are a lack of knowledge, with many shoppers saying they weren’t aware that some businesses offered this capability. In general, social commerce is just another feature being added to the web that can help small businesses appeal to new prospects.
Despite the convenience of social commerce, even businesses using the feature must leverage the value of content to make their businesses more appealing to social (and other web) users. ContentLEAD recently reported 27 percent of consumers described as “downturn shoppers” are using the web more frequently to research items prior to purchasing them.