Every marketing is taking place online, with each product or service coming electronically there is a need to drive a sense of awareness and action towards the business.
So a business that is expanding physically cannot go the long run if it does not enlarge digitally. Ecommerce marketing and digital marketing are not incongruous. The e-commerce market uses digital channels to reach the world and grow.
Trending e-commerce marketing which has been viral these days are-
- Social Media such as Facebook, Instagram, and the latest Tik Tok marketing has a great influence on marketing.
- Artificial Intelligence enhances the reality of online shopping.
- Growing Mobile Shopping is convenient for shoppers as they can have access at any time and in any place.
- Environmental concern– people are lured by the products which are eco-friendly and do not harm the environment.
- Rise of Voice e-commerce– helping to remove the audience’s dependency on hardware such as a mouse, keyboard, making it more convenient and transparent.
- Subscription(Subscription business model) – Growing subscription helps to retain the customers. It is one of the current recurring model revenue.
- Chatbots – helps to engage with the audience in a personalized way.
- Email marketing and automation-
Effective Measures need to be taken care of for operating eCommerce marketing.
1.Sales conversion rate.
Simply it means the percentage of visitors that have converted into sales i.e who has made a purchase.
It is calculated by:-
Leads converted into sales / qualified leads ✖ 100
Number of conversions/number of clicks ✖ 100
Lead – A lead is an individual or an organization with an interest in what you are selling? The interest is expressed by sharing the e-mail id, contact, phone numbers and even handling social media.
A qualified lead is someone who would become a potential consumer.
What is a good conversion rate?
Conversion is the keystone in the main search strategy.
As per Conventional wisdom, a good conversion rate is somewhere around 2 to 5%.
Average e-commerce conversion rates are 1%-2%.
So a 2%⁺ conversion rate is an ideal one for the e-commerce transaction. But conversion doesn’t happen like that. You need to optimize it. Even it varies from business to business. So for the optimum, you need to know your end motto to accurately define what your conversion rate is, and boost your e-commerce using high-quality images and video on the product pages with the alignment of your business goals. It can be measured using tools such as Google Analytics, Big-commerce analytics hot jar, Quantcast measure and many more.
2.Customer Acquisition cost
What is the cost of procuring new customers to your website or social media or any other e-commerce medium?
Is it costing more or less?
An ideal would be the one that is less than your customer lifetime value.
How can the ideal customer acquisition cost be achieved?
- Improve your site for conversion.
- Have a distinct niche.
- Create an online referral program so that your happy clients refer to their known.
- Invest in low-cost marketing channels such as email marketing, social media, content marketing.
- Optimize your paid ads so that you spend less on the same results.
3.Optimize the shopping cart functionality
Every online store must have a shopping cart functionality to sell the product to the customers. The cart should be easy to access and navigable. It helps the shoppers to select the product, make any modifications as per the requirement, add extra items if needed, follow up the selected items and complete the sale.
- How can you optimize the shopping cart functionality?
- The way to stop stopping card abandonment is to test such software on a continuous routine basis to identify the loopholes.
- Communicate the upfront charges at the initial stage only. Avoid any hidden or small print charges. If possible don’t charge for shipping or try to charge as minimum as possible as it’s very frustrating for the consumers to go through the whole checkout process only to discover that they are hit by huge shipping cost which is one of the main reasons for shopping cart abandonment.
- Identify the main drivers and fiction points first with the help of e-commerce statistics.
4.Content Marketing
When you hear about content marketing, our mind only stuck with a mere blog but it has a great impact on the trending e-commerce marketing. It can be in any form like Blogging, Articles, Video content, original photos, email marketing, and referral marketing even some customer’s stories such as testimonials, reviews, case studies.
Say suppose you are purchasing western wear from Myntra. You select the western wear but after choosing the design you will go for the details of the fabric which is written under the photo (which you have shortlisted.) color, length of the fabric, type of material the concerned company has used, etc. This is only possible if the content is precise and comprehensible.
So if you are selling a product online you need an article or videos to generate transactions. Without this, you cannot complete the sale.
So online store owners should not underestimate the power of content marketing.
Now the question is –
How to use content to market your ecommerce store?
Identify the target audience
While doing ecommerce web development, you should keep this thing in mind that the target audience should be crystal clear and you should have specific information about them i.e age, sex, purchasing power, location, likes and dislikes. These are the basics who should know at the minimum. So the targeted audience should be clear in your head. The vision must be there.
Observe their habit and distribute the content
Content marketing is all about knowing the online shoppers, targeting them and distributing digital touch points online. Social media is a great way to show your talent in content writing and distribute your content.
Social media usage based on age.
Say suppose if you are targeting the young generation of age 12-34 then you should first of all
- Know their habits based on your product or service.
- Distribute your content more on Snapchat than Instagram.
5.Test every damn thing what comes in between
If you are an e-commerce entrepreneur then develop the habit of testing and analyzing before, during and after the launch of an e-commerce business. Think like the customer and figure out what’s working and what’s not and why behind those answers. Integrate social elements on the e-commerce site. Things like testimonials, customer video, product review even login options tell a lot about social people.
Conclusion
The only limitation which is still not solved is the ability to touch and feel the product. Amidst this many e-commerce, entrepreneurs are exploring new kinds of retail vision to sell products in a brick and mortar setting. Proving that physical space should not be ignored.
