Technology advancement is evident nowadays and online retailers need to future proof their ecommerce strategy that can effectively adapt to the next generation marketing.
The development of ecommerce doesn’t stop where it is now and it will continue to evolve as technology advances. Rapid technology development can happen virtually overnight and online retailers need to come up with a system that can go along with the fast wave of marketing innovations.
A future proof ecommerce comes with challenges and there are effective ways to ensure that online retailers are ready with their strategies. Both challenges and strategies are important in learning lessons that would make a company stronger in the world of digital marketing.
There are two common challenges online retailers need to be prepared for
1. Marketing Relevance
Online retailers respond with ecommerce’s growing popularity by coming up with a more competitive promotional channel, however consumers nowadays are opting for shopping online because they are also embracing technology advancement. Online consumers are more confident in shopping online and they find it more beneficial, they become dependent on ecommerce and relying less on traditional form marketing.
Conversion rates steadily decline and has created an environment which is saturated by offers that are created to convert potential consumers, but it has resulted to having an audience where few are at a point of making a purchase.
Millennials are more digitally aware, they are consumers aged between 16 and 34, with a purchasing power of $170 B annually in the US alone which have surpassed the Generation X’s $120 B. It is reported that Millennials are expected to raise their purchasing power this year to $200 B and online consumers should engage with them through the use of social networking sites.
Traditional marketing is no longer effective for Millennials as they prefer ecommerce and they opt to engage and build their purchasing relationship with an online retailer’s branding.
These challenges also come with an effective solution
Consumers on average, look at around 11 various points for research reference before making their purchase according to Google’s Zero Moment of Truth (ZMOT) research. This is how online retailers take an opportunity to present themselves and provide their consumers with answers and product information before they make a purchase through content.
Online retailers should create an excellently planned content strategy because Google can determine that they are the best result for an online consumers’ question and content should be concentrated with what their targeted audiences’ needs.
Online retailers should continuously engage with their consumers, that way they can gather useful information to create a unique content during their research phase. Finding significant and innovative ways to add value to their products or services will make them stand.
Moreover, encouraging your online consumers to engage interaction with their social media networking sites helps build company branding.
Conversion is one of the main goals for online retailers, because this is where they earn profit. However, they need to understand that useful and unique content is the key to conversion. Once online retailers are trusted by their consumers through helpful content, brand familiarization and excellent service, they are always expected to come back for more.
Online retailers also need to take their website design and functionality into consideration, because first impressions works well once online consumers arrive at their site. A professional looking and easy to navigate website is what online consumers look for, they won’t trust a poorly designed or cheap looking website.
Website platform is important and creating a fully functional and responsive website across all digital devices, this will not only help with user satisfaction experience, but Google also prefer to rank mobile-optimized sites higher.
Online retailers should engage with their consumers from the start of their journey and from there, gather information and interaction from them and use it to their advantage. An example is determining that when a consumer purchased a mobile phone, they may also want to see accessories when they make their next visit on your website.
This will help online retailers resonate their brand with the needs of their consumers. Taking engagement experience into consideration as one of the top priorities in their digital marketing strategy allows them to establish trust and reliability at the start of their consumers’ journey.
This will help build a good relationship between online retailers and their consumers.
Here are some essential ecommerce trends that online retailers need to know
1. Social Selling
According to Salehoo, online retailers face the ecommerce challenge when it comes to reaching out to consumers. Savvy online retailers on the other hand are changing their strategies to meet with their consumers, almost all social media network platforms have means for them to advertise.
Social media networking platforms have advertising engines built into it that is powered by data that determines both online consumer preferences and demographics. This allows online retailers go where their consumers are and provide ads based on what they are looking for and what they want.
2. Go Mobile!
I was able to get some valuable tips from Mark Kane, CEO of Sunwise Capital, on the topic of Mobile Marketing, and here’s what he has shared:
Mobile usage is being maximized nowadays and everyone can be seen using their smartphones by communicating with friends, family and even with colleagues, and making bank transactions and checking work-related emails.
Mobile technology has provided online retailers new and innovative ways to make their businesses work. Small online retailers benefit from mobile use by working smarter and faster. There are several benefits online retailers reap from using mobile such as better employment engagement, increased productivity, out of office working, on the spot learning and using affordable app tools to assist them with daily business needs.
3. Facebook Live and Advertising
An excellent method for online retailers to make use of social media networking site is through Facebook Live and Advertising. Facebook database holds personal information of their users which allows for online retailers to come up with detailed targeting of consumers’ needs.
Facebook Live assist online retailers by increasing their brand awareness by creating a balance talking about their business and providing potential consumers about what makes your brand unique. It gives online retailers the potential to increase its page followers and customers.
In addition, Facebook Advertising is also more affordable compared to traditional marketing because online retailers can reach out to around 25,000 to 70,000 users weekly. However, carefully planned digital marketing strategy is required to make Facebook Advertising a success.
The success of online retailers’ social media networking campaign is measured in Social ROI which analyses how their consumers engage with their Facebook Advertisement. Social ROI is measured by number of metrics which includes impressions, reach, likes, shares, comments, frequency, click through rates and page likes.
4. Utilize Your Live Chat Support Software
Allowing for online consumers’ questions and inquiries to be answered promptly gives online retailers one step ahead. This makes their consumers feel valued and creates trust in their brand.
Live chat support software gives online customers a reliable way to reach a customer service whenever they encounter a problem with products or delivery, this will provide online retailers to provide a 24/7 support which reduces the response time and increasing customer satisfaction.
While technology advancement provides an ease of access to almost anything when it comes to online purchasing, it also comes with challenges for online retailers to future proof their ecommerce strategy. However, there are effective ways for them to adapt to the next generation marketing.
Ecommerce is quite a huge marketing niche for online retailers. Are there other effectives ways you know about that you can share with us? Give us a comment and discuss with us on how you future proof your ecommerce strategy.
This post is part of our contributor series. It is written and published independently of TNW.