Everyone everywhere is in love with social media apps. This love only has become the reason for a new love to surface – the love for selling and buying, socially! Yes, it is not a made-up concept but a real, existing one! Social commerce platforms are the newest favourites and they aren’t preferred only by the sellers, but buyers too!
Why are they preferred you, might be thinking! Well, anything that doesn’t compromise on the human touch or humane element, so to say, for obvious reasons, becomes a beloved option!
And don’t worry, such platforms aren’t only for buying and selling purposes but for many others, like:
– fan engagement
– sports people
– engaging people with similar interests
– participatory commerce, etc.
Assuming that you are intrigued already, so without any further delay, let us get to business!!
What do we understand by these platforms?
Before delving deeper, one must understand the meaning of the terms or topics at hand. So, let us start with the definition of social commerce first.
It is a subgroup of e-commerce that includes the use of online and social media. It further involves the contribution of users and interactions with them – to assist in buying and selling products and services online. The advent of the internet has presented entrepreneurs with innumerable opportunities – it has so much to offer to everybody! Social business is one such wonderful domain.
To put it crisply, it is using social networks in the context of electronic commerce transactions. User ratings and interactions further provide an impetus to this kind of business.
Let’s learn some interesting factoids about this domain:
Firstly, the term ‘social commerce’ was introduced in 2005, by Yahoo!
David Beisel and Steve Rubel developed this concept. The intent was to represent user-generated advertorial content on e-commerce platforms and use collaborative tools to enable shoppers to get sincere advice from trustworthy individuals before purchasing goods and services.
Such sites and apps have been found to establish and increase trust in users’ minds.
What is the deal with Millions?!
Millions.co is a platform that belongs to the titular category. It aims to monetize the fanbase of professional and semi-professional athletes by selling merchandise, on-demand videos, etc. They are strictly focused on the sports world and fan engagement.
Presently, Millions has around 300 professional athletes’ profiles on board and their first focus is on combat sports and gym. The initial plan was to build an e-commerce and merch platform simply, but they included other interesting elements like – ask-me-anything personalised videos, pay-per-view streaming, custom merchandise including free design service!
Of course, that is bound to attract a lot of users and sports enthusiasts in – both players and fans! Millions has a long list of types of sports, be it lacrosse, water polo, baseball, gymnastics, etc. So, the platform aims to have a massive funnel of pro/semi sports persons.
Since the platform has immense potential, it recently raised 10 million US dollars in funding led by Boston-based Volition Capital.
What about the exciting benefits?!!
Being social and doing business can never hurt. But don’t believe me before looking at the advantages of such applications first. Let’s look at the benefits now:
They help build on a stronger clientele and engage a larger number of users.
Interacting with users gives an opportunity to learn about users’ behaviours and preferences better.
Such platforms also provide incentives to customers to return to the main website.
Users get a platform to talk about their brands on the website.
All this provides crucial information. This helps business owners to research, analyse, compare and choose their plan of action to compete in a highly competitive market!
Since an app like this is online and operates in a friendly manner, the audience keeps growing consistently!
They present a powerful branding opportunity. Businesses can build an impressive brand identity this way and ensure revenues flowing in!
To wrap things up for the readers
When a platform enables us to do business and be social – a wonderful amalgam – it is bound to become a favourite. Therefore, social business apps are creating a buzz. And we can’t deny this domain is worth all the attention it’s getting!
The time is right and so is your decision to build such a platform.
Do you wish to build an app like Millions? Then, move ahead and create a commerce platform socially! It’s lucrative, great and fun! So, chop-chop, dear readers – make hay while the sun shines!
Connect with top app developers in USA, Middle East, Australia, or any other part of the world! Just make sure you do it as soon as possible!
Happy innovating creative minds!!