May 21, 2024

Online shopping and online merchant transactions have taken the world by storm, particularly in the urban and civilized regions of the globe. We have heard of concepts like referral marketing and network marketing, where profits are shared between various partners. Socialized Commerce, also referred to by the term socomm, is yet another concept which has picked up in the last few years in a big way. Let us see what it is all about and how everyone benefits from it.

As a shopper, you have a purchasing power, whichis harnessed through a group or community, to give you the maximum benefit while shopping for goods and services. You are driven to particular service providers of your choice through a portal or a platform, where you have registered yourself.  So, in a nut-shell, you have three sets of people who are all interested in doing business and earning profits – yourself, the customer, the portal or the platform and thirdly the service provider of goods and services. All the three are networked together in this concept of socialized commerce.

We need to familiarize ourselves with certain concepts and roles, whichare played by the parties under socomm. These are –

  • As a user, you enroll yourself for free with the portal
  • With your shopping list, you buy items through the portal, and get incentives like cashback
  • There is no obligation on you to make minimum purchases etc. You can shop at will
  • The portal provides you with guidance and support as to how you can avail the services and get the best deals and make money
  • You can make money in several ways – getting cash-back on your shopping, getting reward points, which can be redeemed, for cash during your shopping, and also getting rewards and commissions!
  • By being a registered member, you have access to most of the top brands and manufacturers of your choice
  • The portal does the matching between you and the service provider, thus creating a bond and liking between you two, with mutual benefits. While you gain through discounts and offers, the other gains through business volume. The portal or platform does the additional service of identifying the brands, which pay the most, ensuring that you get the maximum benefit!
  • When you refer others to the portal, you are turning a marketer yourself, by creating more business for the portal and the service provider. In turn, they share the profits on the additional turnover with you. Sounds great, right?
  • In the process described, you are monetizing your buying power and bargaining powers, by doing what you would otherwise do! Earlier, you were just shopping, now you are shopping and earning!

Let us now look at the specific benefits, which come your way if you get into the part of customer in socialized commerce: Firstly, you can do your bit from any location of your choice – your bed or workstation, while at work or on a holiday, completely at your own convenience. You also have the flexibility to shop through your mobile gadget or your desktop computer. Secondly, through this portal, you get an excellent range of alternatives to shop from, with unlimited offers on the lowest prices. Not only this, you also have attractive cash-back offers on your shopping.

The bottom line: These days, everyone wants to make money, then why not you? Like something, why not tell others and make money? Buying something? Buy and make money!