With eCommerce retail sales projected to reach $6.54 trillion in 2022, it seems the best way merchants can grow today. The eCommerce market is flooded with retailers – each wanting to establish their brand and stand out – with more than 7.1 million online retailers worldwide. And let’s accept the fact that succeeding in this competitive environment isn’t a cakewalk; it’s only those who go the extra mile for their customers to beat the competition. And, unsurprisingly, it’s those brands who succeed in turning their visitors into buyers and customers into brand evangelists.
Now the question is, how do they do it? Or what’s their secret to achieving high revenue, conversions and brand value? Well, that’s what we looked into. As a result, we came across the top five eCommerce marketing strategies online retailers can use to improve conversions in 2021 and beyond. However, eCommerce marketing isn’t an easy deal to crack; it can be both tricky and time-consuming. A lot of marketers invest hours in personalizing and perfecting diverse aspects of their brand’s eCommerce experience but a few get through it.
Your goals may differ depending on what stage of the sales funnel your audience is in. Thereby, you might want to integrate eCommerce marketing tactics to achieve any of the following:
- Generate brand awareness
- Promote a new product/service
- Drive traffic
- Convert more leads
- Boost sales and productivity
- Get more buyers and several other
In order to achieve these objectives and capture the customer’s attention, marketers should take note of eCommerce marketing strategies that, besides gaining traction, promote Magento performance enhancement and lift sales.
Top 5 eCommerce Marketing Strategies
1. Create and Deliver Personalised Content
Your content is what helps consumers find you on the web. Everyone out there is creating content but what makes your content unique is personalization. The more personalized your content is, the higher are the chances of visitors connecting to your brand, staying longer on your site and finally more likely to buy.
But how do you use content to your advantage?
You can start by creating that (videos, blog posts, images, GIFs, etc.) that attract, convert, and retain the target audience. When you create and deliver information that fulfills your prospects’ needs or solves their queries on an individual level, it establishes you as their go-to thought leader. Moreover, it gives you a chance to promote your products/services in the best possible manner.
However, you need to ensure that your content is unique, well-researched, precise and helpful. You could also include:
- Testimonials and case studies to build trust.
- Interactive content such as quizzes, surveys, feedback forms to know your audiences’ requirements and needs.
- Informative content such as webinars, eBooks, or whitepapers.
- Instructional content such as tutorials, videos or blog posts.
2. Product Recommendations
In addition to personalized content, shoppers look for personalized product recommendations. According to a study, 84% of consumers look at product recommendations at least sometimes.
For instance, consider Amazon. Depending on what a visitor does on the site, they’ll see product ratings, “also bought” recommendations, “also viewed” recommendations and more. Another is Netflix. It delivers individually-curated content recommendations and “binge-worthy” suggestions to its viewers.
By recommending products to your visitors, you don’t just help them make the buying decision but help them connect with you and ultimately place trust in you. However, adding product recommendations requires intelligent technology as adding recommendations manually for each persona and each stage of the customer journey can be extremely tedious and time-consuming. Automated product recommendations that rely on machine learning, can increase your conversions by up to 70 per cent while saving your time and efforts.
When it comes to online shopping, card abandonment isn’t something that comes by surprise. In fact, according to the Baymard Institute, 69.57 % of online shopping carts get abandoned, and there might be more than one reason why consumers don’t complete their purchase on your site.
Retargeting comes to the rescue here. Whether it is the high price or the shipping cost, it is one of the best eCommerce marketing strategies that include running retargeted ads on different platforms and finally helps in converting visitors into buyers.
You can understand the interests of prospects with the help of AI and create a tailored ad that runs on various channels to remind them of your brand and bring them back to the checkout process.
4. Focus on your Mailing List
When it comes to developing eCommerce marketing plans, email marketing cannot be left behind. It is one of the ways that keep your customers informed and updated about your latest launches, offers, news and other important information. Further, it can also help you reach customers who have abandoned their shopping carts and remind them of their pending purchases.
Thus, for email marketing to really work for your store, you need to continually nurture your list with qualified new prospects. Ideally, every page of your Magento store site should have an email capture form that blends into the rest of your shopping experience. After gathering email addresses, you could ask your marketing team to send personalized offers to customers and direct them back to your website. This could be one of the best ways to boost sales, profit and ultimately lead to Magento performance enhancement.
5. Affiliate Programs
It wouldn’t be wrong to say that a successful eCommerce business needs an effective affiliate program to increase the reach and connect to a wider audience. Businesses can implement affiliate marketing by searching for influential affiliates who can promote their products on different platforms. Being performance-based, it is also one of the most cost-effective digital marketing strategies for eCommerce websites. This means you will only pay your affiliate partners as much as they deliver.
When implementing affiliate programmes, make sure you:
- Provide your audience with value
- Avoid excessive links in emails
- Promote high-quality products
- Build meaningful relationships rather than just selling or promoting
Start implementing eCommerce marketing strategies and see what works for your site. By adopting sophisticated techniques and methodologies, you can achieve great results and see your eCommerce business flourishing.