Are you frustrated with the poor conversion rate of your eCommerce store? Is your eCommerce marketing able to yield the most for your business?
Ecommerce has been one of the most lucrative business models, especially in the retail sector, where convenience and ease of shopping with new-age technologies are reshaping the whole shopping experience for the future. It is considered a versatile yet dynamic and demanding industry where customer experience is at the center, making it more challenging than ever.
With the drastic changes in customer expectations and fierce competition, these businesses have experienced increased eCommerce marketing challenges to reach customers and meet their expectations. Furthermore, the growing eCommerce landscape brings more challenges and expectations for marketers to stay ahead of the curve.
Here, this blog will take you through eCommerce marketing, the challenges, and the digital marketing practices for eCommerce brands to improve ROI, stay competitive, enhance reach, and prepare for the future of eCommerce.
By 2040, over 90 percent of retail purchases will be served by eCommerce stores, as found and published in an article by the leading American multinational financial and economic services corporation Nasdaq Inc.
eCommerce marketing is a new-age marketing tactic for eCommerce brands and eStores to reach the target audience, drive traffic to eStores, convert visitors into paying customers, and retain these customers after sales. eCommerce marketing has many tactics and strategies, including email marketing, social media marketing, push notifications, SEO, content creation, conversion rate optimization, and increased ROI. These strategies focus on attracting potential customers, driving traffic to the online store, and ultimately growing brand sales and revenue.
The hardship of eCommerce marketing
From cart to order placement, eCommerce digital marketing faces numerous challenges, including fierce competition, the constantly evolving digital landscape, customer acquisition and retention, cart abandonment, maintaining brand reputation, and adapting to changing customer behavior.
Ecommerce brands have gotten acquainted with these challenges to stay competitive. Yet, they made it a bit more difficult for them to meet the customer’s expectations. Here, we bring the five digital marketing best practices for e-commerce brands to adapt to the dynamic challenges and stay ahead of the growth curve.
1. Find the right niche & relevant audiences
The first and foremost tactic any eCommerce brand must incorporate is finding the right niche and relevant target audiences for their business. You could have an outstanding product or service, yet the niche you want to target and its relevant audiences must align with your brand to make it profitable. Focus on your unique offerings, find the right niche, and find the relevant target audience you can approach using A/B testing and data analysis so half the job is done.
2. Integrate social media channels
With over 4.80 billion social media users worldwide, eCommerce brands have the opportunity to connect influencers, customers, and brands and empower their digital marketing strategies. For brands, social media is a magic wind to convert visitors into followers, then paying customers, and later on influencers too. These social media platforms, especially Instagram, can boost your eCommerce marketing strategy for maximum engagement, increase conversions, and optimize user-generated content organically.
We can see Instagram changed the way visual storytelling for marketing and redefined the shopping experience. Above, we can see that the leading action cameras brand GoPro leverages its Instagram page to deliver an immersive shopping experience.
3. Minimize abandoned carts
Despite all the efforts and strategies to attract your target audience and take them to your eCommerce store with other aforesaid challenges, abandoned carts are probably one of the most challenging. It is disheartening for brands when potential customers abandon their carts and leave them without completing the purchase. The most effective eCommerce marketing tactic is retargeting email campaigns that ask potential customers to reconsider their decisions by offering exciting discounts, loyalty points, cash back, and more.
The way Nike email offered ‘Free Shipping & Free Returns’ to minimize the losses due to abandoned carts can work for eCommerce brands.
4. Ask for cross-sell & up-sell
Don’t be shy to ask for cross-sell and up-sell on your eCommerce store. Brands can leverage the power of cross-sell and up-sell once they have potential customers in their eStores. It is an approach that is easier than acquiring a new customer. Use the data and customer insights for personalized offerings, ask them to buy more or add-ons to their existing purchases, and nurture your customers.
Here, online flower retailer Pro Flowers uses the cross-selling strategy by adding offerings with the existing purchase that helps improve the revenue and ROI.
5. Choose the ‘right’ digital marketing agency
eCommerce digital marketing is not easy, and the ever-changing landscape makes it even more difficult to overcome its challenges. There are a lot more aspects, analysis, and strategies required to succeed with your eCommerce marketing, and ‘picking the right digital marketing agency’ is one of the crucial ones. This will help to minimize your burden and focus on the core operations of your brand.
It’s a wrap
In a nutshell, implementing these five digital marketing best practices for eCommerce brands can significantly improve ROI and conversion rates. By focusing on data-based target personalized offerings, social media integration, cross-selling & up-selling with a suitable digital marketing agency, brands can stay ahead of the competition and drive growth in the dynamic world of eCommerce.