How To Establish a Successful eCommerce Strategy?
We already covered the advantages of eCommerce here on our blog. As we have seen eCommerce is definitely bulletproof, but here are our seven tips on developing a foolproof eCommerce strategy:
1. A Mobile-First Strategy
Forecasts by Statista predict that by 2021, sales made via mobiles will reach 54% of all sales. This would be as much as $659 billion! A mobile-first strategy is the trending website development tactic. Creating a website specifically for smartphones, tablets, and mobile devices takes priority over those for desktops.
The term was first introduced by Luke Wroblewski in his book, Mobile First, in 2009. He addressed the problem of transition from desktop to mobile web design and how teams and organizations, considering unique aspects in mobile web, should adapt design strategies such as actions, input methods, and layouts.
If you want to create a website that’s easy to use and that both Google and your users will love, the mobile-first design is simply a great way to go.
Imagine you walk into a store and are greeted by a salesperson – a salesperson that knows your preference in brands, knows exactly what you want, provides you with offers based upon the kind of credit card you carry, and all without being pushy. Yet, more than 74% of marketing leaders still struggle to increase their personalization efforts. More than 70% of customers feel frustrated when their experience is impersonal.
Today’s customers are gravitating toward brands that make them feel heard and seem to understand their specific wants and needs. Personalization is becoming more pervasive. Companies hope to be in a position to deliver value to both their customers and their brands, thus focusing on a personalization strategy is important.
3. Data Protection and Data Privacy
Today, the vast majority of online shoppers are concerned about their data, which can often include sensitive information such as their address, phone number, credit card information, and more. People are increasingly concerned about what companies are doing with their data. By taking necessary security steps, international eCommerce companies can make sure that they not only comply with new privacy regulations but also build trust with customers from all over the globe.
4. Digital advertisement
As consumers stayed home during the lockdowns and spent more time online, digital advertising spend grew 24.7 percent. Customer spends more time on social media than on a website. Gaining ground in social media has become one of the most necessary factors to increase business appeal & profit. Running advertising campaigns on social media platforms cost little when compared to traditional marketing techniques.
A properly planned and well-targeted digital marketing campaign can reach the right customers at a much lower cost than traditional marketing methods and also tell you almost immediately how an ad is performing. With the flexibility for ads not delivering as expected, they can be adjusted accordingly or stopped altogether with ease.
5. Adoption of New Technology
With the evolution of AI, technology has come a long way from just displaying prerecorded messages to mimic human-like conversations with human users. For instance, in April 2019, Warby Parker, an online retailer of prescription glasses and sunglasses started using AI to enable its customers to try on glasses virtually. It uses AR, a technology that overlays computer-generated images onto real-world images.
AI adoption is ramping up quickly with an estimated global retail spend of $7.3 billion per year by 2022, according to Juniper Research. AI in the retail industry not only provides the link between the online and offline connection with the customers but helps in personalizing the entire shopping experience.
6. An Omnichannel Customer Experience
Omnichannel refers to a multi-channel mode of doing business. It connects consumer experiences across multiple devices and platforms with those taking place in physical stores or company locations. Early-bird adopters of Omnichannel retailing have achieved significant benefits such as increased efficiency, cost reduction, better work experience happiness index, improved customer experience, and sustained profitable revenue growth.
7. An Easy and Clear Checkout
The checkout process encompasses the specific steps a consumer must take when completing an eCommerce purchase. The average shopping cart abandonment rate is hovering around 70%. Features like guest checkout speed up the process by avoiding the unnecessary step of forcing customers to register before beginning checkout.
Your checkout process isn’t the only part of your path to sales that needs consistent optimization consideration, but it’s certainly one of the most crucial, but often overlooked, parts of the process. If you want to maximize conversion rates on your checkout pages, you’ll need to take a multi-faceted, optimized approach. This is a crucial element of a successful eCommerce strategy.
On the Closing lines
When it comes to expanding into online commerce and creating strategies, you have a wide range of options. You can be creative! Make sure you create an eCommerce strategy that fits your business and its resources. And, keep time in mind as an especially important resource.
Are you interested in using online advertising as part of your eCommerce strategy in 2021? Then contact us or book a free consultation. We will guide you through the process and show you that a successful online advertising campaign does not have to be expensive!