Social Commerce refers to the intersection of social media and e-commerce. It combines discovering, shopping, and purchasing into one seamless customer journney, starting and ending on social media. In history also people have been shopping together and have been influencing each other’s purchases.
People spend most of their time online, majorly youth. In the coming years, social commerce will be the indisputable market breakout breakout trend.
It is a rapid evolving market, sales transacted is a main measure. EMarketer estimated $23.3 billion sales can be made in 2020 with around 76 million U.S. users (40% of them are available on social networks.)
Sid K. Hasan, who is the founder of MeSpoke, he professes that social commerce doesnot go nearly far enough. In his argument, he says is just another B2C e-commerce play with social media endorsers and paid influencers push marketing messages with keen intension of making a sale.
Social Commerce is not a metamorphic idea. These transactions occur on social media without leaving the social media platform like channel-centric thinking.
Hasan also quotes that, Idea of social commerce is a quantum leap i.e, consumer-to-consumer-to-brand rather than just another way of conducting B2C commerce.
What is the transformative idea of consumers at the centre of social commerce?
The idea works with a consumer influencing another consumer whether over a coffee or social media post. This ends with a transaction on a store or on a website. This can also happen on social media platforms.
Hasan explaims, “It involves two consumers inspiring a sale and the brand has nothing to do with it. The brand just becomes the order taker. Social commerce is essentially where people socially, either digitally or physically-speaking, inspire one another to stylize, accessorize, and transact with a brand.”
Since the consumer is both the channel and advertiser through the user-generated content (UGC) they create, Hasan reasons they should be rewarded as other channel and advertising partners are.
Hasan has a background in technology and always had a desire to harness the power of network marketing with out discrediting.
He developed MeSpoke which iis described as a social engagement platform. It is a app that allows its users to create their own style content with planted hashtags back to brands that they can share with other users on the platform.
Originating content creator get reward points when a user goes on to conduct a transaction with a tagged brand. These reward points can be reclaimed for upcoming purchases. It empowers everyday users to be remunerate for the content they create and hashtags they use as free influencers for brands and retailers. There will be special promotions and offers for originating
Content creators to build deeper connections.
With the help of artificial intelligence, meSpoke app automatically detects clothing and fashion accessories in a posted picture. It makes brand-tagging process super easy for users.
Its proprietary technology has just been awarded a patent by the United States Patent and Trademark Office, which Hasan sees having the potential to disrupt the retail digital advertising industry.
Timely is MeSpoke’s protective patent and is emerging web 3.0 privacy concerning poised strip advertisers of their ability to track users’ online footprint to serve up targeted content and advertisements.
Apple has recently announced iOS 14.0 puts users in charge of which applications can track their online activity. It is a feature estimated to disrupt the multi-billion dollar advertisement industry, sending advertisers scrambling to find new ways of reaching their audience. Facebook, Instagram and the giants of the social media world are now put on notice.
MeSpoke is filling the gaps for retailers and brands to reach beyond paid influencers and online aadvertisements by ambiguity.
MeSpoke is gratified in making a platform available that puts users first and allows them to reap the benefit of their own created content. At the same time, MeSpoke is allowing brands and retailers to reach and develop a loyal base of customers more effectively through everyday users advocating their products and brand with no capital investment. It is presenting both sides with a win-win solution.
Lately, MeSpoke has been downloaded from the Apple App Store by users in 66 countries through word-of-mouth alone. But with the patent now secured, it will begin more active marketing to bring new users in. MeSpoke revenues will be generated by commissions on sales made.