Last updated on July 15th, 2020
Businesses around the world are investing huge resources in building their eCommerce websites. At the same time, customers are increasingly using these online platforms to buy the offered products and services at the convenience of just a click. This has created a huge opportunity for eCommerce companies to maximize their sales.
However, this has also resulted in cut-throat competition to get the largest piece of the cake. Thus for any new entrant into this sector, it becomes imperative to chalk out a full-proof marketing strategy. Only such a marketing strategy can help new businesses survive and thrive.
Online retail business are always on their toes to maximize traffic on their websites and convert this traffic into increased sales. However, figuring out which marketing strategy will be the most suitable for an eCommerce business can be one difficult task. The one-size-fits-all approach does not exist.
Zeroing in on the best marketing strategy for a particular e-Commerce site will require looking into its particular context. This includes figuring out what is that business about? What products does it offer? Who is their target audience? Which prevalent regulations prevent the business from adopting a particular marketing strategy?
Once a particular eCommerce business’s context is understood, the application of time-tested marketing strategies can definitely help in increasing sales. Let us try to enumerate what are some of the proven and newer marketing strategies which an eCommerce store should employ.
What is eCommerce marketing?
eCommerce marketing involves the practice of undertaking various promotional activities for driving online traffic towards an online store, converting that traffic into increased sales and retaining the paying customer base post-purchases. An all-encompassing marketing strategy is oriented both on-site and off-site helping in increasing brand visibility, customer loyalty and ultimately improving sales.
Best eCommerce Marketing Strategies
Content marketing involves the process of creating online content like blogs, videos, images, GIFs, infographics on your product. Such online material is created with an intent to attract targeted customers towards products offered by an online store. This results in building brand awareness.
For instance, eCommerce company Beardbrand has started a blog named Urban Beardsman. This blog covers people who like grooming their beards. The blog posts are well researched, with in-depth articles on how one can take care of their beards. Through these posts, the company also gets a chance to promote their beard grooming products. This results in a large number of daily visitors on their eCommerce site and often translates to increased sales.
Also, better keyword selection while creating content also plays an important role in translating traffic into sales. Keyword search should focus on those with enough search demand and volume.
Also known as the word-of-mouth strategy, referral marketing helps build trust amongst potential customers. Customers like to share both good and bad experiences with each other while availing of a service.
To start referral marketing for an online store, the foremost requirement is to develop a referral program. However, this approach is resource-intensive. Another alternative is to go for the installation of a referral app like ReferralCandy.
Utilizing user-generated content can be another fruitful marketing strategy. This results in generating social-proofs. Most potential buyers feel confident about buying products on e-commerce sites when they see other buyers purchasing the same. It is estimated that 67.7% of customers consider online peer reviews before making a purchase decision. User-generated content can include customer product reviews and even pictures and videos of customers trying the purchased products.
It is believed that a vast majority of Instagram users depend on their feed to get inspiration for their next online shopping spree. In this process, they also become aware of newer brands. Such a marketing strategy has been utilized by Monday Swimwear, a swimwear brand. This brand was started by two Instagram influencers, Natasha Oakley and Devin Brugman. They have build a huge following on Instagram over the years. Thus their posts serve the purpose of an online catalog for their followers. They also follow marketing tactics like running giveaways and engaging with other influencers to promote products.
Facebook can serve as a great advertising platform for eCommerce businesses. Online stores can advertise their products targeting prospective buyers based on their location, age, language, interest, behaviors, etc.
Upselling is a marketing strategy that is based on what a customer is already looking for.
Upselling involves suggesting a customer to buy a product of the same category he/she is looking for but with better quality and a higher price. While Cross-selling involves selling an item complimentary to the item sort for but at a lower price.
There can be no doubt in admitting that a vast majority of potential customers check their emails on a daily basis. Thus email marketing is a proven marketing strategy for e-commerce businesses. Email marketing is simply sending promotional emails to your prospective buyers. eCommerce stores can urge buyers to take advantage of limited period offers made exclusively to them.
Email reminders can also offer customers to shop for the items they once added to their cart but did not purchase and that too at discounted prices.
Customer Relations Management
Another important marketing strategy can be adopting efficient customer relationship management (CRM) software. CRM software has features like account management, order management, reporting, partner management, service automation, etc. This besides helping in organizing business also gives leads to the sales team.
Apps with Push Notifications
Those eCommerce firms with enough marketing capabilities can also go in for highly efficient tech-based marketing techniques. One such approach is to go for the development of a mobile app with a push notification feature. Such apps can keep users engaged through easier one-click purchases, personalized recommendations or styling tips.
Applications of VR and AR
eCommerce stores, particularly those focusing on a single category of the product, can also go for virtual reality-based marketing schemes. For example, Lenscart provides its users with a try-on facility before purchases through this technology. However, this technology serves only a selected of customers i.e., only the tech-savvy and relatively high-income groups.
To solve such issues augmented reality can be a better technological option for e-commerce marketing. For instance, Amikasa, the online furniture store has utilized AR in providing its user’s option to upload pictures of their room. AR lets users see how their room would look with furniture placed before making purchases.
Also, Sephora, the makeup retailer, uses such a marketing strategy. It lets its app users upload pictures of themselves to see how different makeup products will look on them.
There is ample evidence to establish the fact that the E-commerce industry is thriving in a big way. It is constantly undergoing change in order to change the way people around the world buy products they require.
Wrapping up, we can say that with more and more businesses entering the eCommerce space, the race to remain relevant has already begun.
For new entrants and also established e-commerce giants, it becomes imperative to employ different marketing strategies to survive in this cut-throat competition. But the ground rule remains that a holistic marketing strategy will be the one that targets both on-site and off-site customers.
Guest Blog Author Bio:
Vaishali Sonik is a passionate writer and explorer who has an interest in sharing the knowledge she has gathered over the years while working as a content strategist and writer at different companies including the mobile app development company, Apptunix. With the vision of bringing the change in the content industry, she jumped from her career as M.Tech ECE Engineer to follow her passions.