Today’s digital world presents quite a paradox. Conducting an online business is both easier and more difficult than ever before.
With readily available tools like Shopify Plus, new online stores can be created rather quickly. However, the amount of noise, distractions and competition that exists online has made engendering traffic, sales and brand loyalty something of a Herculean feat.
To achieve revenue goals and expand their brand presence online, retailers need to develop an eCommerce marketing strategy–a collection of promotional tactics that pull in visitors, compel purchases and keep consumers coming back for more.
The most effective eCommerce marketing strategies include tactics that target users while they are on the site and after they bounce from the page. You’ll also want to capture the attention of new consumers and engage them as soon as they arrive at your store.
If you want to see a dramatic increase in traffic, conversions and dedicated followers, check out these four effective eCommerce marketing strategies to drive revenue and grow your presence online.
Utilize Real-Time Personalization
According to a report from BCG, personalization presents the opportunity to raise revenue by up to 10 percent. Outside of the significant lift, this is quite meaningful as 59 percent of consumers believe that personalization has a noticeable impact on purchase decisions. Despite this, personalization is a drastically under-utilized tactic for many eCommerce purveyors.
If retailers aim to stand head-and-shoulders above the competition and create a loyal user base, it is necessary to supply shoppers with a unique shopping experience that is tailored to their desires, interests and product searches.
If your online store carefully curates its products, offers and messaging, the more likely consumers are to buy. Previous studies have revealed that 73 percent of shoppers prefer conducting business with brands that use personal data to increase the relevancy of their user experience.
To help personalize the experience, you can leverage data around their interests, preferences, browsing history and other useful data. Uncovering this information will help your company create a targeted experience that is sure to resonate with the clientele. In fact, 49 percent of consumers confessed that personalized experiences resulted in purchases of items that they did not intend to buy.
However, it is important to remember that over-personalization can provide the opposite experience for other shoppers. Always be aware that there is a fine line that separates data utilization and invasion of privacy.
For businesses to thrive online, automation is a must in today’s world. One of the most imperative aspects of your eCommerce marketing strategy is to automate your email communications.
Automating email marketing strategies based on pre-established triggers can help eCommerce brands hook consumers with über-relevant and well-timed messages.
Research has revealed that a whopping 89 percent of marketers find that email is their most effective channel for lead generation. Moreover, email is a massive driver of sales. For every one dollar a brand spends on email marketing, the ROI averages $38.
This means that by automating email communications for, say, customers who abandoned their carts, eCommerce stores can recapture what was could have been a lost sale. Furthermore, by incentivizing the consumer to come back to complete their order with a coupon, retailers can simultaneously drive brand loyalty.
However, this strategy is only possible by leveraging email marketing automatization services like MailChimp because sending abandoned cart emails manually is simply not feasible, especially if your store receives a fair amount of traffic.
Automation is an all-around essential strategy for eCommerce retailers as “…automated emails get 119 percent higher click rates than broadcast emails, and emails with relevant content drive 18x more revenue than broadcast emails.” Additionally, B2C email automation can achieve conversion rates as high as 50 percent, which is a statistic guaranteed to grab your attention.
Employ User-Generated Content
User-generated content (UGC) is a powerful driver for traffic, sales and loyalty because it provides social proof to prospective buyers and engages current customers.
When consumers see other people making purchases and using a store’s products in everyday life, they are far more likely to feel confident about making a purchase from that eCommerce store. This is partially due to the fact that over 84 percent of consumers trust online reviews as much as recommendations from friends and family.
UGC can be utilized in a myriad of ways. While product reviews on your site are great, one of the most powerful and compelling forms of UGC comes from images of customers using your products. Due to the incredible effectiveness of UGC, some of the world’s biggest brands have created Instagram campaigns that center on their users.
Promote Loyalty with Rewards
Nielsen surveys have shown that a staggering 84 percent of global consumers are more likely to shop with retailers that offer loyalty programs. Meanwhile, 68 percent of millennials have stated that they need a rewards program to stay loyal to the brand.
This means that instituting an eCommerce loyalty program is an essential strategy for gaining and retaining customers. This is a crucial task as it cost 10 times more to acquire new customers than to generate sales from existing ones.
Determine the parameters of the program and decide which actions are eligible for rewards. For example, your store might feature a points system that can be redeemed for free shipping, discount codes or even gifts that are not featured in the main store.
There is a vast array of options for potential loyalty program rewards. The key is to identify the types of prizes your audience will enjoy most. This may require some A/B split testing to determine what will appeal the most with your audience.
Also, be sure to use the approach the loyalty program as an important tool for customer retention. To get value from a proposition like free shipping, you need to see a boost in repeat businesses. When used this way, the loyalty program entices new visitors and engages existing customers to make another purchase.
Creating a store that drives noteworthy amounts of traffic, sales and loyalty won’t simply happen over time. You need to be active in cultivating these behaviors. Utilize these on- and off-site eCommerce marketing strategies to help your brand develop the kind of devoted fan base that will keep the revenue flowing year after year.