With an ever-changing digital landscape, it can be hard to keep track of all the changes that are currently happening. This is especially true for e-commerce businesses since there are so many different assets that you have to think about when building an e-commerce brand. Let’s look at the best e-commerce sales strategies to help boost revenue.
Ecommerce sales: best strategies
Since there are many e-commerce sales strategies, often an audit done by a marketing agency will give you clear insights into which strategies will benefit your company best. In this article we will look at the current changes in supply chain and shipping, knowing your audience and why they convert, and stock management.
1. Keep the current supply chain and shipping changes in mind
The pandemic has created a world of greater uncertainty for e-commerce businesses; from port delays to labour shortages. Add inflation and global conflicts on top of that list, and you have a recipe for uncertainty. This has created volatile situations for business owners, especially with customer demand and delivery expectations still being extremely high. However, there are signs that supply chain and shipping are now getting out of the dark times as we leave it behind.
Despite the current way up, e-commerce businesses should still keep in mind that things can change overnight and that the situation is not yet stable. In 2023, the expectation is that customer demand will be lower due to inflation and an impending recession. However, there is a growing want and need for customers to receive their goods shipped and packaged sustainably. You can read more about green marketing here.
While the world has been through a lot of turmoil, there are better times ahead a small business owners. What are the best practices and strategies for 2023? Keep being prepared for new risks, invest in a great customer service team (in case of delays and things going wrong), invest in analytics and supply chain forecasting, and make sure that your packaging and shipping are done sustainably when possible.
2. Know why your audience converts
Marketing in 2023 often revolves around an omnichannel marketing approach. The challenge with this approach is that it becomes harder to see where conversions come from. Let’s say that your customer has seen your content via a newsletter, an organic Facebook post, and a Google ad. They eventually end up buying your product after visiting your homepage through organic search. Where does Google Analytics attribute the ‘purchase’ to?
This is important to know because it will help you understand customer behaviour and reasons why they did or didn’t end up converting your services and goods, as well as what marketing areas to continue to invest in. Answering these questions is complicated but not impossible. When you have a system that tracks this data correctly, it can be extremely rewarding, since it gives you insights you can work with. Knowing why your audience converts by tracking conversion analytics and determining which marketing channels eventually lead to more sales, and streamlines your marketing approach.
3. Create a better functioning stock management
What is one of the most important things when owning an e-commerce business? That’s right; stock management. Even though it might not sound as fun as branding strategies, content creation, or customer roadmaps; it is a very important one if you want to keep your customers satisfied. There’s nothing worse for the customer than trying to buy a dress that is now out of stock, or having to wait a year and a half for their new piece of furniture (yes, this happens!). Even more reason to give your customers a silky-smooth experience by keeping an eye on your stock management.
How? There are a few things to do when it comes to stock management. You have to understand and research the customer demand, to see how much or how little of the products you’d want to have in stock. On top of that, you want to have data that tracks the fluctuations in your stock, as well as motoring the condition of your stock. This is particularly important if you have products that expire. This all might seem like a daunting task, but it will be rewarding once you’ve got the right data in the right place.
Take a look at this article if you’d like to learn more on digital marketing trends and strategies for 2023?
Social media strategies: consumers aren’t just an audience
Now that we’ve looked into sales strategies, it’s time to see how these three social media strategies will help create more engagement amongst your target audience. Consumers are not just an audience, they are individuals who have personal wants and needs. Let’s look at the future of personalisation, mobile shopping, and the rise of micro-influencers.
1. The future of personalisation
Shaping your marketing outreach towards individuals is the backbone of personalised marketing. When you get this right, customers will feel more satisfied and create better connotations around your brand. A Salesforce report shows that 73% of customers expect a brand to understand their personal wants and needs. What does personalised marketing look like? You can give them personal discounts, recommend products based on their purchase history, send mobile push notifications based on their data, or offer monthly descriptions based on their needs.
One of the challenges around personalisation is that there is a rise in concerns and implications around data privacy and collection. With all the new rules and regulations it becomes increasingly difficult to gather personal data. Although there are ways around it, and marketing agencies are finding solutions to these new shortcomings, many businesses are required to put extra time and effort into finding new ways of gathering information about their customers. The investment of time and money will benefit your business since being able to personalise your marketing will eventually pay off with happier customers.
2. How to optimise your mobile e-commerce website
Mobile e-commerce, also described as mobile commerce, can be a slow and inconvenient process if not created well. What do people expect when they shop on their mobile phones? A user-friendly app or website, that is protecting their data, and preferably is also personalised to their experience. When designing your mobile store you’d like to keep the consumers’ preferences and expectations in mind. This way they know how to navigate your mobile webshop.
Besides having your mobile webshop, you can also sell your goods on social media platforms such as Instagram and Pinterest. This allows people to go from interest straight into the desire to purchase state. Make sure that your app or mobile website is designed to the correct sizing as people need to be able to read it and easily click on links. People want to be able to purchase fast, especially if they order something from their phones. Make sure to minimise the clicks and information they have to provide you to a minimum. This way they are most likely to finalise their order.
3. The rise of the micro-influencer
What has proven to be a great way to boost your social media marketing? Working together with influencers. However, since the shifts in the digital world during and after the pandemic, influencer marketing has also changed. With the customers’ need to see less curated and more authentic pieces of content, businesses are shifting to working together with micro-influencers instead of influencers with bigger followings. This is because often micro-influencers can create real connectivity through their authenticity and have a higher likelihood to form a genuine relationship with your brand, which will be perceived well by their followers.
On top of this, micro-influencers often have a great engagement rate, which is ultimately what you’re looking for. When working together with micro-influencers it’s important to let them control the narrative, as they are the best at saying what they want to say after all, and people follow them for this. Their authentic endorsement of your products will create enthusiasm amongst their target audience organically. Are you looking for individuals with a high sense of creativity and a higher Return on Investment on your dollars spent? Work together with a micro-influencer (or many of them).
Do you want to learn more about e-commerce strategies?
Would you like to dive deeper into the world of e-commerce? Get in contact with us if you want to brainstorm or receive help with implementing these first changes. We are happy to assist your business in further growth and a future of new digital possibilities.