How to expand your company in e-commerce

How to expand your company in e-commerce

You need a plan in place to encourage an increase in conversions to expand your e-commerce sales.

Statista has projected that in 2020, retail e-commerce revenues will exceed $4.2 trillion, up from $3.5 trillion in 2019. If your e-commerce company is serious, then you’re probably already planning how to get your full share of the pie.

But increasing revenue goes beyond hope. To achieve results, you need a sound plan you can execute.

Download our Business Resource- Trends in retail e-commerce marketing

This guide is intended to help you with your e-commerce marketing efforts, providing you with practical advice and background for the current marketplace, with appropriate statistics and numerous examples to inspire you.

Access Trends in Retail e-commerce marketing

What marketing strategies would position you ahead of this year’s competition? We’ll be covering six successful strategies in this blog post to help you expand your e-commerce business in 2021.

1. Shoppable updates from Instagram

In the social media sector, Instagram has evolved sporadically over the years. To attract new clients, companies already use Instagram for marketing purposes.

But people can now purchase your items directly on Instagram with Instagram shoppable updates. This eliminates the friction that happens when users have to leave the website with the Instagram app.

You have to set up your product catalogue on Facebook and link to your Instagram business account to use this feature. After this, in your updates, you can tag any product that followers can purchase.

2. Personalisation of Material

With major players like Amazon and Netflix leading the way, personalization of content is a trend that must be followed by any e-commerce store. Consider that, when you view items important to them, potential customers are likely to purchase from your store.

It’s no wonder, then, that 80% of customers are more likely to purchase from companies that deliver customised experiences, according to Epsilon research.

You need to consider the following requirements for successful content personalization:

  • The visitor’s past experiences on your website.
  • Demographic details, such as location, sex, language, etc.
  • Visit time, such as time of day, month or year, for example.
  • The declared interests of the guest.

3. Reality Augmented (AR) and Virtual Reality (VR)

With augmented reality (AR) and virtual reality (VR), before they complete their order, consumers get a clearer view of what they are purchasing.

AR helps potential consumers, before they purchase, to add a product to their environment. It shows how a commodity can fit into an environment.

Before they make a purchase, applying this technology to your e-commerce store will give individuals a clearer view of your goods.

4. Smart Bidding for Google Advertising

If on Google Ads you run shopping campaigns and other advertising campaigns, then smart bidding is a tactic to which you should pay attention. For better outcomes, Google uses advanced machine learning to help refine your bids.

To set the correct bids, the machine learning system uses signals such as time of day, location, computer, language, operating system, remarketing lists and other data.

Based on the following goals, you can use smart bidding:

  • Maximizing the conversions
  • Maximize Value for Conversion
  • CPA Goal
  • ROAS Goal

Since smart bidding is far from being a perfect technology, your bids and ad output have to be tracked and compared to your manual bids. However, with smart bidding, one advantage you get is that it helps to save time that you can spend in other campaign activities.

5. Marketing on Omnichannel

Imagine this situation: your customer has begun the buying process on their smartphone for a product and must proceed on the desktop for some reason. Will they have to start again on the desktop or continue on the mobile where they stopped?

Apart from using various devices, another marketing reality today is that during interactions with your company, prospects may have to use platforms such as social media, email, phone, and others.

You should combine all these experiences with omnichannel marketing so that you can deliver prospects with your brand messages. Also, it allows you to decrease pressure and increase conversions during the purchase process.

Companies with omnichannel customer engagement strategies retain 89 percent of their clients, according to Invesp, while businesses without omnichannel customer engagement strategies retain only 33 percent.

6. Content Created by the User (UGC)

Buyers typically look to other people to make their buying choices. According to Bazaarvoice, this is why user-generated content affects the purchasing decisions of 84 percent of millennials and 70 percent of boomers.

What does your product think about established customers? How is it used by them? What advantages did they derive?

These questions are answered by user-generated content and convince prospects to purchase. When you specify a hashtag on social media, it becomes easy for clients to send UGC.

Conclusion

Implementing a strategy just because it’s famous could lead your e-commerce store to poor results. Ensure that you use tactics effectively with your audience to prevent this.

For your e-commerce shop, adopt these 6 tested strategies and in 2021 you will grow your customers and revenues.