The world of e-commerce is growing at an astonishing rate. As technology continues to progress, the lines between physical and online shopping are beginning to blur. While e-commerce currently accounts for just over 16% of global retail sales, sources have projected that 95% of purchases will be facilitated by e-commerce by 2040.
We are also seeing an increase in online purchasing through mobile devices. The modern customer spends around four hours per day on their smartphone, making mobile advertising one of the most crucial marketing aspects for e-commerce businesses.
The rise in e-commerce has reduced the barriers to entry into many industries. However, due to the relative ease of access, the marketplace is much more likely to become saturated. With this in mind, it’s vital for e-commerce businesses to focus on marketing to gain an advantage over competitors.
If you’re looking to optimize the marketing strategy for your e-commerce business, here are five key tips to help you achieve your goals.
- Outsource to specialized agencies
Marketing is a specialized business function. Many owners of e-commerce businesses are experts in their particular industry but lack fundamental marketing knowledge. While it’s possible to execute effective marketing strategies without experience, it can be difficult and time-consuming.
Specialized marketing companies can offer expertise, knowledge, and experience to your business. They can provide critical marketing operations such as SEO services to enhance your content and give your advertising campaigns the best possible chances for success.
Upselling has proved to be a very effective tactic in e-commerce marketing. Group particular items together and encourage your customers to add related products to their shopping cart. It’s vital that you match items carefully in order to be sensitive to your customers’ budgets.
A great approach to upselling is to promote accessories to the original purchase. For example, suggesting a customer buy a laptop bag when they are buying a computer.
- Targeted social media ads
Targeted social media advertisements are effective in increasing conversions for e-commerce businesses. While most e-commerce business owners will appreciate social media’s importance, they may not realize how powerful a marketing tool it is.
Look to Facebook and Instagram to launch targeted campaigns to specific segments of your audience. These platforms also provide analysis tools, allowing you to dissect each campaign’s performance. Study advertising insights and use the data to develop future strategies.
- Optimize your buying process
Never underestimate the importance of the buyer’s journey. Ensure that the buying process is optimized from the very beginning. Analyze each step of a purchase and make sure there are no unnecessary steps.
Customers will abandon the shopping cart if the buying process is faulty or complicated. It’s important to make sure that the buying process is also optimized for mobile users.
- Content is crucial
In a competitive market, the quality of your content is critical. Not only is it essential in attracting customers, but it is also crucial when it comes to your Google ranking. Prioritize creating quality content that adds value to your customers.