Technology advances, customers become savvier, and competition online grows – all reasons that it’s time to look at ways to refresh your ecommerce marketing strategy.
We’ve put together a list of four marketing strategies that you should be using, along with some tips on how to implement them.
#1 – Know the Industry Benchmarks
If you’re not already looking at your industry’s benchmarks, you need to make that a priority today. Industry benchmarks depend on the products you sell, your location, business size, and other relevant factors. Knowing these benchmarks will help you to set realistic goals for important marketing metrics.
When you create goals for website visits, conversion rates, click through rates, and customer acquisition costs based on your competitors, your business will have a fighting chance in today’s world.
Tip: Do some research online to find the relevant industry benchmarks for your business. A yearly report like the Wolfgang KPI 2019 report will help you get started.
Once you’ve identified the industry benchmarks for your field, examine how your business is performing against them. Then, determine the areas of improvement and set appropriate goals.
#2 – Optimize User-Generated Content (UGC) Marketing
These days, a winning marketing strategy must contain social proof. The reason for this is simple, it generates trust. Shoppers trust other shoppers when it comes to buying online. They can’t see or examine your products, but they can listen to what other shoppers experienced with your product.
In fact, it’s reported that 84% of people trust online reviews as much as they trust their friends. So, optimizing your UGC is essential.
UGC can take many different forms, including comments on your website, customer reviews, social media comments and shares, testimonials, guest posts on your blog, and the list goes on. The great thing about UGC is that it’s contributed by real customers, which means it’s unbiased.
Tip: There are some trends in UGC that are important to get in on. Visual content, especially images and videos of real customers using your products, will improve trust, credibility, and brand authenticity. Try running a competition where you ask customers to submit images or videos of them using your products to win a prize. Try using social media hashtags, where your customer posts content using branded hashtags.
Keep in mind that people are attracted to UGC that is brief (think short attention spans), positive, funny, or even surprising. For more word-of-mouth marketing information, check out this intro guide.
#3 – Know Your Industry’s Online Influencers
Influencer marketing works, there’s no doubt about it. Check out these statistics:
- 49% of consumers rely on recommendations from influencers
- 70% of teens trust online influencers more than traditional celebrities
- Influencer marketing campaigns earn an average of $6.50 for each dollar spent
When you build a relationship with industry’s influencers, you’ll see an improvement with your business’ SEO, engagement, and sales. Influencer marketing is a strategy that offers long-term benefits.
Tip: There are various ways that you can connect with influencers for your brand. Here are three to consider:
- Google – Like anything else, you can simply do a Google search to find online influencers. This method can be time-consuming though.
- Database – There are platforms like inPowered, LittleBird, and Cision that make it easy to find influencers. Once you’ve identified the influencers you want to connect with, you must handle the outreach.
- Marketplace – Influencer marketplaces work to bring brand and influencer together. Influencers register with the marketplace, noting what types of activities they’re interested in, and brands are then able to be matched up with the influencers that meet their needs. TapInfluence is an influencer marketplace that is worth checking out.
#4 – Use Personalization to Nurture Customers
Did you know that 80% of shoppers say they’re more likely to buy from a company that offers personalized experiences?
Customers have some pretty high expectations when they shop online. They don’t merely want to buy products from a brand. They want the website to “know” who they are. They want an experience.
Personalization is the way to do that. It means finding ways to tailor content marketing with the unique needs of your customers in mind.
Personalization can come in the form of email marketing that addresses customers by name, recommended products based on customers’ buying histories, or using smart content for repeat visitors.
Not only will this help you meet customers’ expectations, it also has the potential to move shoppers along the buyer’s journey faster. Especially when they don’t have to search for what they need – you’ve put it right there in front of them. This kind of nurturing creates loyal customer relationships.
Tip: There are lots of ways to use personalization in marketing to build better customer relationships. Here are a few to try:
- Offer custom content – Use the information you’ve gathered from shoppers (their product searches, buying history, etc.) to offer them applicable content. For example, after they purchase an item, provide them with instructions or tutorials they need to make the most of their products.
- Improve your customer segmentation – When you segment your buyers with every bit of data you’ve collected about them, you can use that information effectively. For example, you can use a pop-up message for customers who live in hot, sunny areas to offer deals on sunglasses and hats, while you offer those rainy regions umbrellas and other rain gear.
- Make better recommendations – Most online businesses upsell and cross-sell with product recommendations, which is great. However, they typically base those recommendations on what previous customers purchased. Because all customers are unique, the recommendations aren’t always spot-on. When you save the shoppers’ information you’ve collected, you can use it to make better recommendations. In other words, the recommendations should be based on the individual, not the product. Just because the previous customer bought a DeWalt drill and a bean bag chair at the same time doesn’t mean that the next shopper wants to.
Refresh Your Ecommerce Marketing Now
Now it’s up to you! Before you decide to revamp your strategy, make sure you’re not making simple marketing mistakes. Then, use the four strategies above to refresh your online marketing sooner rather than later. The actions you take will help boost your sales and revenue before you know it.
Interested in more marketing tips? Check out all our ecommerce marketing posts here.