6 Ways To Boost Your E-commerce Business Through Digital Marketing
E-commerce businesses are more profitable than ever and with an effective digital marketing strategy you can certainly boost your e-commerce business sales.
Digital marketing and E-commerce go hand in hand, but is it working for you?
If not, you’re not alone…
Digital marketing can be a tricky affair, but we’ve got 6 sure fire ways to give your digital marketing a boost!
First, you need to understand what type of e-Commerce business you have ie: B2B or B2C.
B2B(Business to Business)- Sell of technology, products, and services from one business to another.
B2C(Business to Customer)- Direct sales of products and services to customers.
IDC has forecasted a 23.6% Compound Annual Growth Rate(CAGR) for B2B digital commerce platforms through 2022, which is quite higher than the 8.6% growth rate forecast for B2C.
While understanding how your business serves it’s B2B or B2C customers is important, the digital marketing strategies we’re going to cover will work for either to grow sales and value.
As one of the richest men on the planet-Mr. Jeff Brezos states,
“Even with its massive customer base and a dominant share of online sales, Amazon needs to spend heavily on advertising to counteract the expanding focus of traditional retailers on e-commerce,”
Hence, we are going to explore six ways to strategize your digital marketing for solid e-commerce growth.
1. The Omnichannel Frenzy:
Many marketers wonder what this term exactly means and it is often confused with the term multichannel. But, both are different fundamentally. While multi-channel is the use of different channels to market the same product or range of products, omnichannel represents a unified approach of a singular channel by unifying channels like digital channel, in-store, point-of-sale and online.
Image Source: Omnichannel Marketing
If you think of an omnichannel marketing strategy, it envisages the message of branding through all the channels in a unified manner, irrespective of the medium or channels used for engagement.
How it works:
- Customers receive personalized offers and coupons while shopping in a store through E-mail or SMS channels.
- SMS sent regarding the rewards status and membership points at the point of sale to the registered mobile numbers of customers.
- Messages repromoting a product that consumers abandoned in the cart for anonymous reasons.
Omnichannel marketing uses digital marketing tools and tweaks it to make the business a more personal and intimate affair for customers with exclusive offers, personalized products, and services.
2. The Social Circle:
This is no secret for anyone, who knows the goods of social media marketing. Connecting the social media users to promote your products might not be new but certain areas have a new edge over the old ones. Let us dig deeper into this marketing strategy with a few areas of marketing prodigy.
Social trends as in Social Media trends have been transformed into something more as people are more open to express their needs, desires and wants on the public platform and so is the digital marketers today with all their armory ready to pounce on any opportunity.
Content, images, videos and more, everything created by digital marketers have focused on customer social trends and behavior of consumers on social media platforms.
A short blip of flash content that stays for a maximum of 24 hours on social media sites for promotion and then vanishes. Such posts are raw and don’t include any editing or fine polishing of the content. Mostly used in quick-bite social media platforms like Instagram and snap chat.
This is another cool trick to promote your product through live streaming of events like product launches and celebrity discussions on your products and services that can encourage more users to join the live-stream.
3. Demographics for Marketing:
Targeting the right audience is important as missing on the demographics can prove fatal for any marketing strategy. Marketers group several different types of population, according to the parameters of Age, gender, social class, religious affiliation, spending power, etc.
Using the demographic profiles, curated through examining different demographics, enables marketers to evaluate the marketing mix and include strategies to target specific segments and groups of customers.
4. Video Advertising:
Video advertising is a very powerful medium of advertising and strategizing your e-commerce business for video advertising can help you grow the business to new heights. Video ads are a popular medium for marketers as 54% of consumers want to see more video ads from their brands.
It is good to promote e-commerce products, even for a B2B e-commerce business that has a content-driven product and yet using the video ad can certainly market your content with 72% consumers opting for a video if video and content both are on the same page. B2B business can build services and technology products such as websites and apps and they can hire developers to add videos organically with their content.
5. Personalization for marketing:
We already saw a glimpse of personalization in the omnichannel part and yet it does not end there. Take the example of NikeiD a DiY type service where consumers can design their sneakers and this was a revolutionary step taken to push the sales. Such personalized marketing strategies can help marketers improve customer engagement and sales.
6. Innovative Marketing:
Innovative marketing strategies involving Artificial Intelligence and the Internet of Things can render greater consumer engagements and customer retention. We can already see marketers promoting chatbot services to improve lead generation, achieve higher conversion rates and improve aftersales services.
Using another innovative medium like Augmented Reality can help your marketing strategy for better sales and growth. 90 percent of companies with revenues between $100 million and $1 billion are already using innovative technology such as Augmented reality to market their products.
Digital Marketing is at the tipping point of marketing tactics and strategies to induce higher customer retention and re-engagement in the e-commerce domain. An amalgamation of social media platforms, digital channels, point of sale, innovations, personalization and all those tricks and tool will ultimately lead to successful e-commerce business and so don’t wait for a competitor to pounce on the opportunity and grab yours immediately.
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