All online stores have the same goal – to increase their traffic and sales which will then turn into profit. However, this is not as simple as it sounds. Many people say that utilizing e-commerce effectively is the key for your business to climb up the ladder of success. In the modern world, where people spend so much time online, improving your e-commerce marketing strategy will potentially grow your market and drive more sales.
Over the years, people have turned to the internet to look for better and more convenient ways to buy things, whether it’s to purchase clothes, gadgets, or even groceries. With the big market for e-commerce, tons of companies have taken the step forward to take advantage of this opportunity. To illustrate this, consider how eBay and Amazon have both become two of the most popular businesses in the world whose profits are driven by e-commerce.
If you own a business and want to elevate your knowledge and drive your E-Commerce Marketing Strategy in 2019, keep on reading.
Why Turn to E-Commerce?
E-commerce has progressed into one of the most in-demand fields of business. Statista reported that e-commerce sales are expected to hit an astonishing $4.5 trillion in 2021, a far cry from the $trillion it hit in 2017. Furthermore, millennials make 54% of their purchases online. This is why businesses should stop treating e-commerce as just one of the minor strategies to grow their brand. E-commerce should be considered as a necessity to stand out. The enormous opportunities brought about by e-commerce are too hard to ignore.
Applications of E-Commerce
There are virtually tons of ways to conduct e-commerce. It can be through online websites, shopping carts, by email, on mobile devices, web services, and many more. This can either be in the form of one of the many types of transactions such as business to business, business to customer, or even customer to business strategies.
More and more companies have upgraded their efforts to entice their customers through techniques such as digital coupons, targeted advertisements, and regularly sent newsletters. Additionally, e-commerce offers numerous benefits to target markets. Its advantages include speed of distributing information, provides a wide array of choices, 24/7 availability, accessibility, and, most of all, international reach in just one click.
The E-Commerce Marketing 2019 scene is quite huge, and one of the most common ways to do e-commerce is to establish an online storefront. This could be a website which you use to sell your offers. It should have shopping carts and other digital elements of a shop.
Social Media Shops
One of the most powerful ways to drive your e-commerce to the top is to have a strong online presence in social media platforms, such as Facebook and Instagram. These social media sites can facilitate sales by guiding your customers to your e-commerce site. Additionally, you might also give your customers the option to buy directly from your social media page.
Social media has a great impact on e-commerce. Sites such as Pinterest, Instagram, Twitter, and Facebook are used to showcase products and goods offered in the best way possible. Here, shoppers can see the items that they might potentially purchase.
Other than creating your own online storefront and social media shops, you can also opt to do e-commerce through registering with online marketplaces. These are sites that are in charge of transacting between you and your customers. You do not necessarily supply these sites with inventories. Usually, online marketplaces connect the sellers and buyers through a platform where they can do business.
Kinds of E-Commerce Merchants
E-commerce merchants can be categorized into different kinds depending on the stakeholders that they interact with, their chosen platforms, and the kind of service or product that they offer.
Online Retailers That Sell Physical Goods
This is the most common kind of e-commerce merchant. These shops can sell everything from apparel, skincare products, make up, and many more. The stores which sell goods have a catalog of available items in their website or page to help the shoppers determine what they like. Once the customers have chosen, they can put it in a cart and pay for it. Eventually, the goods are shipped right into their doorstep.
By its nature, e-commerce is driven by the digital world. This is why e-goods or digital products can also be sold online. In just one click, you can find countless digital products which span so many formats and types such as e-books, online video courses, graphics, images, and software.
Products are not the only thing that can be sold online. One can also offer and market their services. This is common with many freelancers such as writers, educators, and consultants. Depending on the merchant, the processes can differ. Some services are allowed to be purchased through an order from the website or chosen platform. Meanwhile, some service providers need to be contacted beforehand to set up a consultation or contract.
Business to Business
Business to Business or B2B e-commerce refers to transactions which are made between two businesses. Basically, if the target customers of one business or company are other businesses, then it operates on a B2B model.
Business to Consumer
Businesses with this type of e-commerce classification have transactions which involve the company and the direct consumers who buy its goods or services.
Consumer to Consumer
Consumer to Consumer or C2C happens when something is sold or bought between two customers. This usually takes place in platforms such as eBay where an individual sells something such as goods or services, but is also a consumer of the same or a different product or service that fuels their own sales.
Consumer to Business
This business model refers to transactions where the consumers create value, and the businesses purchase that value. This is considered the opposite of the traditional business model where the companies are the ones who offer services or products to consumers.
Business to Government
This happens when a government office buys goods or services using the internet from a privately owned business. For example, one government entity may hire an online web design company to make its website.
Consumer to Government
Businesses are not the only ones who can take part in transactions concerning the government. An example of how this can happen is when a consumer pays for tickets or fines online.
Government to Business
Often called G2C, this happens when a company buys goods from the government. Aside from products, it may be services or even online fees. One example is businesses paying taxes using online platforms.
E-Commerce Marketing 2019 Ideas You Should Try
If you already have your online store, then driving traffic to it and closing sales should be your goal. Whether you are looking to sell your first item or double your sales, being proactive in looking for ways to promote your products is always a good thing. Thankfully, there are a lot of choices for creative and effective methods to promote your online store. Here are some of the best things that you can do to accomplish this.
Nothing can make your customers feel more special than personalized marketing techniques. To increase your online sales through this technique, you can study behavioral data, past preferences, and common actions of your consumers. You can also review comments and suggestions.
Only around 15% of companies understand the importance of personalization. Not only will it spike your purchases by up to 10%, it can also help generate customer loyalty. One key thing to think about when highlighting personalization is knowing what your customers need. For example, people in Maine would want to purchase a coat in October, while those who are in California would want a bathing suit in the same month.
Invest in Paid Traffic
Many businesses are intimidated to invest in increasing their website’s traffic because they think it is expensive. Although there are a lot of horror stories about brands who invested a large sum of money in paid traffic only to get no results at all, paid traffic can actually not only be cheap, but also effective if it is done right.
Having a great campaign strategy coupled with paid traffic is the key.
You just have to understand that paid traffic will not always work for your business on your first try. It involves tons of experimentation and ad variations. Knowing what your customers like can immensely help you to get it done correctly. Keep in mind that the most important thing about ads is that it has to be targeted towards the right person. If you would like to know more about how we can help your business do this, book in a free call with us today.
Have an Active Instagram
Instagram can present a big business opportunities. With over 500 million users, every single day, the social media platform has become one of the biggest apps in the world which connects brands to influencers and customers.
However, using Instagram for your business is not as easy as taking a photo and putting a witty caption along with it. By using hashtags strategically and posting at the right time of the day, you can increase your reach. Engagement is also one of the most important things that you should keep in mind. For this, you can hold giveaways and contests with your products as a prize. Additionally, you can add the product link itself to the post and give your followers a direct link to purchase the goods. For growing and engaging more Instagram followers we always recommend Magnetic Growth.
Consider Upselling Your Products
Upselling involves encouraging your customers to trade up what they are buying to a better, and usually, more expensive option. This can help drive more income to your business. Just remember not to be too aggressive and to focus on how the “better” product will help meet their needs. One great example of upselling is prompting airline passengers to upgrade to business class during bookings.
Tapping Press and Influencers
Publicity still remains as one of the most powerful techniques to improve the popularity of your business. To help more people know your products and brand identity, you can publish or pitch stories or posts to bloggers and journalists to help you promote online. Additionally, by tapping bloggers influencers, and focused websites, your brand can be seen by thousands of people in just a single post.
Make Your Website Simple
No matter how good your products are, if your store has a subpar design, you will lose potential customers. This is because an online shop which has a bad design may be deemed by customers as unreliable. Elements that contribute to bad design can either be the fonts, navigation and even the simple color scheme.
It is also essential to divide your products properly and cohesively. Think about how many products you want to put in a single page and the ratio of text with the associated photos. Another way to optimize your website is to have a live chat option in case your customers want to ask something about the product. These live chats allow your customers to have conversations with a sales representative so that they can address whatever concern they have without having to go through the longer process of e-mailing your business to inquire about something or request assistance.
Do not underestimate the power of E-mail marketing. If it’s done right, this technique can significantly boost your e-commerce. While many businesses look for other ways to generate organic engagements and traffic, using e-mail as a form of marketing can start working immediately. It can even generate a new audience.
Sending campaigns in the form of automated e-mails can increase your revenue. There are also tons of ideas and options to captivate customers such as giving them incentives for subscribing to your newsletter, as well as reminding a visitor about the items that are still in the shopping cart so they can finalize their purchases.
Abandoned shopping carts are one of the most common problems of online businesses. In fact, Baymard Institute reported that 69.23% of carts are lefts without being purchased. A simple e-mail recovery campaign might possibly convince your visitors to go back to their cart and complete the purchase of the items. Make sure that your e-mail is witty and enticing so that it will grab the attention of the customer.
Another useful idea is to tie the sending of your e-mails with important calendar celebrations. You can send it out during events such as New Year’s Eve, Valentine’s Day, Christmas, Father’s or Mother’s Day, the Fourth of July, or Thanksgiving festivities. The key is to know which seasonal event clicks with your audience. Another effective strategy to using e-mail is to run an exclusive sale for those who receive your e-mail and responds.
For more for more Tips To Boost Your E-Commerce Store.