5 steps to boost ecommerce success
The shift from physical to digital commerce has been gaining traction over the past decade and has undoubtedly been accelerated as a result of the COVID-19 lockdown. Many brands have taken advantage of lockdown to implement or strengthen their ecommerce offerings, though many retailers still lack the digital maturity to effectively connect with the customers of tomorrow. Failure to get it right will be detrimental – the slice of the pie is significant, with Shopify predicting global ecommerce sales will reach $4.8 trillion USD by 2021.
While achieving digital maturity takes time and investment, there are several simple approaches that retailers can implement to increase their ecommerce success.
A robust content strategy for your e-commerce store is key to building a strong digital presence. Regular production of thought-provoking, relevant and effective content will help your business generate leads, build brand awareness and increase search engine rankings. Similarly, effective content production helps position your brand as an authority in your industry in the eyes of your customer, which over time can correlate to a positive uplift on brand recall and consideration. Using data to inform your content strategy is key – run a deep dive into your frequently asked questions or key customer concerns/comments to determine the type of content your consumers are most interested in.
Test and learn
One of the major benefits that ecommerce holds over its physical counterpart is brands’ ability to continually test and optimize their stores based on real-time customer data. Rigorous testing efforts take time and effort but have tangible results for businesses – less abandoned carts, increased return on ad spend and increased conversion rates. In the current economic climate with consumer preferences and priorities continually changing, a test and learn approach becomes even more relevant, affording brands the opportunity to gauge how different consumer segments are reacting to their products/services and messaging daily.
It has never been more pertinent for e-commerce to become frictionless. The pandemic has already had a negative effect on the incomes of consumers across the globe, and the economic outlook for many remains questionable. Consumers are becoming increasingly cautious with how and when they spend their money. As a result, brands must ensure that it is as easy as possible for consumers to move along the path to purchase. Slow websites, poor navigation and device incompatibility all act as barriers to your consumer making a purchase. Instead, brands need to make it as easy as possible for consumers to transition from wanting their product to buying their product.
With so much change in the marketplace over the past few months, brands must reassess their idea of who their customer is. Considering how your product or service fits into your customer’s new way of life will be integral to developing your ecommerce strategy. For international businesses, this will become even more apparent as different countries manage the virus through different stages. Businesses should deep-dive into their analytics to understand where you are gaining or losing popularity. Findings from your web analytics should also inform your ecommerce store optimizations – for instance, high bounce rates from a certain country may indicate your website doesn’t currently support their currency or doesn’t make it clear you can ship internationally.
Sometimes what seems like relatively minor enticements can make or break the ecommerce experience. The convenience offered by online shopping diminishes when lengthy or costly logistics processes are involved – high shipping fees and lengthy delivery timelines can be the deciding factor for customers choosing not to purchase. The Amazon model appears to be a framework for best practice in this regard, offering free shipping, one-click ordering and next day delivery. While the pandemic presents logistical challenges across most retail markets, brands should use this time to set themselves up for future success in this area, as many may find that the cost of implementing free/fast shipping may well be worth it.
At Tag, we create faster, cost-effective and consumer-centric marketing campaigns. Backed by the knowledge of our team of retail experts, we are uniquely positioned to help support brands in their offline-to-online retail acceleration. We provide end-to-end marketing solutions that enable our brand partners to ensure they are well-positioned during times of change and uncertainty in the market.
Schedule a call today to discuss how Tag can support your changing marketing needs.