As you might probably know, THE.Best social media has now made an important shift to become an innovative social commerce app where social media users can not only review but also promote their best products and services.
Cyril Fremont, CEO of the .BEST new gTLD wrote a few lines to explain in details the new social commerce direction that he is now taking according to the .Best mission : "Turn every social media user into a .Best seller".
Why social commerce ?Social commerce is one of the hottest trends in social media today, and it seems to have an even bigger impact in 2020.
30% of online shoppers say they would are likely to buy direct from a social media network like Facebook, Pinterest, Instagram, Twitter or Snapchat.
Instagram data tells us that 70% of shoppers look at Instagram for product discovery: https://www.facebook.com/business/instagram/shopping
Instagram is actually transforming its business model to enable social browsers to buy directly from instagrammers.
In China, Social Shopping via videos is currently performing extremely well. There are efforts from short video apps like Douyin (TikTok’s Chinese sister) that match merchants with content creators for promotion. During the coronavirus lockdown, millions of consumers relied on live videos to check out products and posed questions to merchants remotely, a practice that has won endorsement from local governments as a way to drum up domestic consumption. In just Q1 this year, more than 4 million live shopping sessions took place in China; but that's not only a natural evolution of social media, E-commerce platforms are also evolving to social commerce.
Chinese e-commerce giant and pioneer of shoppable videos Alibaba is looking to recruit over 100,000 international influencers this year – rising this number to 1 million influencers by 2023 – to help brands sell more across the globe through the group’s international retail platform, AliExpress, which claims to have 180 million annual active consumers: https://twitter.com/FremontCyril/status/1315938584525000705
To be 100% clear about THE.Best vision: https://twitter.com/FremontCyril/status/1315704910068023296
- WEB 1.0 from 2000 to 2010 was the rise of e-commerce platforms (amazon, alibaba, ...)
- WEB 2.0 from 2010 to 2020 was the rise of social media platforms (facebook, instagram, twitter, ...)
- WEB 3.0 starting 2020 will be the rise of social commerce.
What about social media user motivations in 2020 ?There are actually almost 4B active social media users (+10% YoY): https://twitter.com/FremontCyril/status/1315594932875415552
Social media statistic uncovers that an average of 3 hours are spent per day per person on social networks and messaging.
But more importantly: 54% of social browsers use social media to research products (Source GlobalWebIndex). More and more buyers are joining social media networks and looking for reviews and product recommendations. Here is the summary of social media users motivations in 2020 :
- Social Media Browsers : Research products. (Ex : +350 MAU on Pinterest )
- Social Media Creators : Monetize their content (Ex : 39% active influencers on Instagram)
- Business Owners : Promote their products. (Ex : 80M Facebook Business pages)
- Brand Owners : Protect their trademarks. (Ex : 7M Registered Trademarks)
What about THE.Best social commerce value for social media users?
- Social Media Browsers : THE.Best provides an open social commerce app that let social media browsers discover (feed), research, find and review the best products/services in any category (hotels, high-tech, beauty, fashion, ...)
- Social Media Creators : THE.Best provides a unique curating solution that help content creators monetize their audience promoting the best products.
- Business Owners : THE.Best provides an innovative digital solution that help business owners promote their Best products through influencers.
- Brand Owners : THE.Best provides a dual digital protection for official trademark owners : https://www.brands.best.
What is THE.Best secret sauce and unique curating innovation for social media creators ?Curating content is adding your voice (and value) to an existing handpicked collection of content. Gathered from a variety of sources, around a specific topic, that you publish and share with your social community. Many brands already use content curation on their owned and operated websites and blogs to promote industry news stories, but social media is the marketing platform where curation happens most. Social media content curation takes place when a marketer filters through all of the interesting content online and shares the best news, video, images, etc. he/she finds online on a company’s social networks.
In THE.Best social commerce app, each post is a commodity, so that curating content means promoting other products. So that, THE.Best social commerce app enables content creators monetize their social media audience by curating best products on a dedicated .Best social commerce website. Every social media user can build its own .Best social commerce website just by curating other best products and services. By promoting others products, social media users win rewards for each click coming from their .Best social commerce website.
What about Brand & Business owners ?As a Brand and Business owners, THE.Best content curation helps you promote your best products from thousands of social commerce websites. Brand and Business owners can achieve data-driven marketing at a scale with minimum effort.
How content curation is important for social networks ?Internal content curation is the growth key of most social media platforms :
- Twitter has its Tweet/Retweet content curation,
- Pinterest has its Pin/Board content curation,
- THE.best has its Best(product)/.Best(websites) content curation.
What's THE.Best plan ?THE.Best Social Network new social commerce features (promoting your best products) will be available by next week for influencers, vip, business and brand owners through a new apple store (testflight) and google play app version.
THE.Best unique product curation features will be available by end of 2020 with the new social commerce website template.