The Advent of E-Commerce in the Online Community
From kick-starting a campaign to laying out the foundation of a brand new e-commerce store – social media has proven its worth back and forth by launching and experimenting with marketing strategies that are up-to-date with the requirements of the people. The internet is crawling with Baby Boomers, Millennials, Generation Z and Generation X consumers, out of which surprisingly, the latter spend more than any of the two combined.
According to Statista, E-Commerce expanded to approximately 11.6% of all global high-end and retail sales with predictions that it might lead to 17.5% by the end of 2021. The future of E-Commerce is within the hands of the marketers and of course, the advent of the user-friendly mobile websites that facilitate consumers.
People are no longer using their desktops to visit an online E-Commerce store – approximately 61% of visits to e-commerce stores were recorded via smartphones globally. However, there is a contradiction here – while there is a higher rate of recorded mobile visits, approximately 61% of orders are completed on desktop while 45% via mobile.
Customers also prefer if their E-Commerce store ships to their native land and accepts various modes of payment. In 2018 alone, a consensus recorded approximately 45% of users who preferred to use their credit cards for completing orders and making payments online. Another reason why E-Commerce stores are more popular than flagship stores is because people can place their orders online whenever they wish to – even (especially) if it’s midnight.
Approximately 58% of customers shop at hours that are convenient to their tedious timings. While the availability of customer support might be an issue, several budding E-Commerce stores provide you with an e-mail address and a phone number where you can write or book your appointments to relay your queries in advance, respectively.
According to HubSpot, people tend to listen to their family and friends before buying from a new place online, and therefore, cater to referrals for better experiences. Approximately 30% of individuals prefer to buy from a place they’ve either bought from previously or have heard positive reviews about and seen someone with the merchandise.
However, since the future of E-Commerce looks pretty promising, we have mentioned 5 core strategies that will surely help your sales to soar high and succeed amidst competition.
Focus on Existing Customers
Most start-ups believe that they’re doing bad or failing at becoming a success particularly because they’re counting the ‘wrong’ kind of customers. While customer acquisition is equally as important as protecting the liege of pre-existing ones, it is therefore believed that the latter should be more focused upon.
Most enterprises judge their success by jumping to conclusions after checking out the charts for customer acquisition. Even if the numbers have dropped, enterprises forget to focus on customer retention strategies and how to reimburse the loyalty of those customers who have always preferred your start-up from none to one.
As compared to getting new customers – which is amazing in itself and should be encouraged nevertheless – preserving the liege of old customers is not only inexpensive but also highly cost-efficient. Old customers are not only loyal to and familiar with your brand, but also have a far greater potential of generating high revenue for your brand.
Since they are pretty familiar with your brand, they not only trust your services but keep on coming back to avail your sales and bargains. Consequently, they are more liable to shop at your website back and forth, therefore, boosting your website’s sale conversion rate.
Focus on Video Content
While generic content performs just as fine as any other marketing strategy, video content tends to draw approximately 88% of users to retail websites worldwide. With the advent of video content in advertising, E-Commerce brands such as Robo have not only learnt how to perform well but have also acknowledged their star customers with a focused outreach point. With video ads alone, Robo managed to generate $4.7 million which was accepted as an inspiration by several E-Commerce brands.
With video content, consumers began relating with the product and the brand itself, which not only helped to enhance their experience but also aided in subsequent purchase. Video content is short and crisp – saves the average user’s time since it takes almost twice as less amount of time to pay attention to details. Millennials and Generation Z consumers have been gifted with the absence of a prevalent attention span which therefore, speaks volumes for the promotion and usage of video content.
Mobile-friendly website design
As discussed previously, approximately 61% of users tend to prefer using their smartphones for shopping online due to personalization and convenience. Approximately 63% users stated that they preferred using apps to desktop websites due to convenience while 40% stated that they liked the fact that the apps used cookies and stored their data for subsequent use online. Around 21% of users stated that they believed in personalized content and therefore hoped to come across better deals via apps.
Having a mobile-friendly design also contributes to customer retention and therefore, helps to boost sales and conversion leads. For instance, Criteo reported that users tend to navigate to a mobile-friendly app within the last 30 days if they’ve enabled push notifications and get alerts about their abandoned carts or wish-lists constantly. This paves way for greater conversion rates since a majority of users enable push notifications and therefore, tend to spend almost 14.7% of their time by returning on mobile apps.
In order to make your mobile application user-friendly, cater to content that is not only personalized but also in the greater interest of your users. For instance, most brands tend to offer special discount codes to users who sign up on their mobile applications for the first time. For instance, if your favourite apparel E-Commerce store has a clearance sale going on, the perhaps, it might even offer you a special discount code on if you sign up on their mobile application or send an invite to your friends for the first time.
Showcase your bestsellers
A little background knowledge and wit to use here – your customers don’t need to know how many sellers how sales you’ve come across all day and they definitely don’t need to know if your numbers or correct or false. This might be false publicity but as they say (in show business), every publicity is good publicity.
However, in order to generate sales and higher revenue, showcase and feature your bestsellers on a slideshow right above your categories section so that your customers know what specialties your website is offering. If your brand is facing severe competition, then tend to focus the products and services that are severely high in demand. Take the season and occasions into play and lean onto gimmicks to present the hottest products to your customers.
Offer discount codes
In order to keep your customers addicted, offer them discount codes upon referrals or perhaps, upon a purchase of a several amount. This will not only encourage them to continue shopping but will also be good for business. Most websites tend to showcase clearance sales all around the year on account of publicity. They shift some of their bestsellers amidst others that are doing poorly to the section so that it would attract people and entice them to continue shopping.
For instance, most websites tend to showcase discounts and clearance sales throughout the year. To top off the amazing clearance sale at Sophie and Trey, the brand is also featuring a 20% discount code on casual dresses for the summer. Brands like this are trying to convey that even if you’re trying to tackle sales for the season that just flew by, it wouldn’t hurt to cater to a few buys for the season that is currently in full spring.
Such marketing strategies not only help brands to savor on customer retention techniques but also allow them to generate higher revenue by caring for the customer. In order to ensure positive outreach throughout the year, it is essential to assess your website’s content as well. Run an A/B testing to see what your customers see when they first land on your website. In order to assess your website’s value propositions, run a thorough poll and cater to details so that your customers not only get the attention they deserve, but your website also generates the revenue it rightfully deserves.