With the rise of smartphones and affordable access to technology, eCommerce is becoming the go-to solution for all our retail needs. On average, at least 75% of individuals shop for at least one item online. That’s because eCommerce provides flexibility and convenience for the online shopper. To stay competitive in the market, you’ll need to know the best eCommerce marketing strategies. With these strategies, you can reach new customers and achieve new sales benchmarks.
Here’s everything you need to know.
What eCommerce marketing strategies should my online business use?
Behind every successful online business is a successful eCommerce marketing strategy. Unfortunately, there’s no one-size-fits-all marketing strategy. It takes some time to find what works best for your online business.
The good news is, there are several digital marketing strategy trends your business can start capitalizing on today. With these strategies, you can continuously optimize your approach based on data to find what works best for you and leaves a favorable impression on your target audience.
Here are a few trends we have on our radar.
The rise of chatbots
Chatbots are a must-have for any eCommerce brand that wants to stay competitive. With a chatbot on your website you can increase engagement with your customer, improve brand loyalty and make your customer service available 24/7.
Don’t believe a chatbot is beneficial for your B2C or B2B ecommerce strategy? It’s important to note that on average, chatbots can handle full conversations 69% of the time. With a chatbot in place, it can help your customer service team properly manage their day and get time back to focus on important issues.
This conversational software is becoming more advanced and helping individuals make informed purchases that result in fewer returns and concerns. As this software becomes more advanced, companies will continue to utilize its capabilities to increase business and improve the customer experience.
Diversified eCommerce SEO strategies
SEO is a must for any eCommerce that wants to boost sales and get more traffic back to its website. It’s a cost-effective marketing tactic that helps businesses outrank their competitors and get their products and content recognized by potential prospects. For SEO to benefit your eCommerce marketing strategy, start by:
- Optimizing your product pages;
- Prioritizing product image optimization;
- Boosting purchase confidence with customer reviews;
- Adding an FAQ page;
- Focusing on the right keywords.
To find success with SEO for your eCommerce strategy, you’ll need to remain open to new ideas, optimization opportunities and developing relatable content crafted with your customer in mind.
Social media platforms are becoming more advanced in introducing new features for businesses. With platforms like Instagram, Facebook and Pinterest, your brand can set up a storefront directly on the social platform. Users can shop and pay for products on the social platform without leaving the app. This eliminates any friction or frustration caused by jumping from the app to your website. It also streamlines the buying experience and provides customers an easier way to pay.
Here are a few of the most recent updates and social commerce features you can look forward to:
- Create shoppable posts on Instagram and Facebook;
Communication with customers through Facebook messenger, Whatsapp or Instagram;
Pinterest shoppable pins;
Shopify and TikTok account integrations;
Increased brand awareness with Snapchat AR filters;
Customer reviews streamed directly on your Instagram page.
Social commerce is still a relatively new concept continuing to take shape, and can benefit your eCommerce marketing strategy. As you adjust your content for social media marketing, you’ll see which platform yields the best results and find new ways to capitalize on these opportunities.
An eCommerce email marketing strategy is much more than the promotional emails and newsletters you send weekly to customers. It’s also about the abandoned cart emails, the customer journeys and the additional touch points you use to enhance the user experience.
On average, 69% of carts are abandoned by consumers. However, abandoned cart email series have an average conversion rate of 18.6%. With an abandoned cart series working for your brand in the background, you can rest assured that they are reminded to come back and shop.
Conversion rate optimization
Conversion rate optimization is always trending. However, many businesses only focus on increasing the amount of traffic to their website, not actually converting that traffic. When you focus on nurturing the relationship with your current audience and boosting their buyer value, you’ll see better results over time, which can increase your bottom line. Here are a few ways you can do this:
- Personalize the shopping experience;
- Improve the UX design of your website;
- Enhance the checkout experience;
- Re-engage past customers;
- Diversify your payment and delivery options.
To understand where you can improve this process for your customers, you’ll need to step back and consider why your shoppers aren’t converting. There are several reasons this happens. Whether it’s a negative first impression, a hard-to-navigate landing page or an unoptimized website, you can help to improve UX and conversion rates in several ways. Once you figure out where you can improve, you’ll start to see better results over time.
Live stream shopping
Live streaming is a popular social media tool that allows companies and influencers to connect with their audience through video. With a live stream, brands can easily host a Q&A session, broadcast a product review or dialogue with a guest host. However, companies are taking it one step further with shoppable live streams.
With shoppable live streaming, consumers can interact and shop for products and services while also interacting with the host in real-time. This shopping solution provides peace of mind and reassurance for the shopper, similar to the experience of shopping in person.
New ways to pay
When you’re shopping on a mobile device, it’s not nearly as convenient as a desktop. With buy now, pay later and Apple Pay, customers can make a purchase without ever having to grab their wallets.
Once you begin offering new ways to pay, you can use these new options in all of your marketing materials. Add language to your main webpage, include it in the footer of your emails and make an announcement on social media.
Capitalizing on the “buy online, pick up in store” model
What’s the worst part about buying something online? The waiting! With the buy online, pick up in-store model, brands eliminate the frustration of waiting and allow the customer to pick up their items at their own pace.
Take your eCommerce skills to the next level
It pays to stay ahead of eCommerce marketing strategies and trends. With a strong understanding of the marketing opportunities you have at your fingertips, you can increase ROI and get more out of your marketing budget.
WorkForce Institute is capable of helping aspiring and existing product managers improve or deepen foundational product management skills. With the help of our eCommerce Marketing Bootcamp, eCommerce professionals can help further improve an eCommerce organization’s capacity for effective marketing, sales and growth.
Connect with our Admissions team for more information today.