What are the best e-commerce marketing strategies to attract and retain high-value customers online? And which channels should retail marketers prioritize for growth?
Online retail is a cut-throat competitive landscape right now. Get it right, and your growth is through the roof, but, failing to meet your customers' high expectations can be costly. Moreover, these decisions must be made according to your business' people and financial resources. In this blog article, we'll explore the best e-commerce marketing strategies to help you prioritize your digital investments and growth-hack your business to improved performance and increased ROI results.
What's more, all these recommended strategies can be integrated and implemented using our acclaimed RACE Framework. As we explore the best e-commerce marketing strategies, we will also position your marketing activities within our ready-made marketing strategy structure. With the RACE Framework, you can be sure that all your key marketing touchpoints are aligned, and your strategies…
Amazon marketing strategy: Business case study, revenue model and culture of customer metrics: History of Amazon.com and marketing objectives
In the first quarter of 2021, Amazon reported net sales of $108.518 billion, a 43.8% increase from $75.452 billion in the same quarter in 2020. Net service sales, which include Amazon’s fulfillment services for sellers on its marketplaces, hit $51.027 billion, up 51.8% from the prior year’s $33.611 billion. The Amazon marketing strategy we are familiar with today has evolved since it was founded in 1994.
I've highlighted the Amazon marketing strategy case study in my books for nearly 20 years now since I think all types of businesses can learn from their digital business strategy, their response to the pandemic is impressive but not entirely surprising for a brand which is 'customer obsessed'.
From startups and small…
E-commerce 2021: The latest data and forecasts for all things online retail growth
It's interesting to look back at e-commerce growth over the last few years and think forward to the future of this industry. As demonstrated by these charts from Statistica, the overall percentage of E-commerce retail sales have certainly grown in the last few months, accounting for 16% of sales in the US in Q2 2020.
Equally, we have watched the overall percentage of E-commerce retail sales in the UK rising to nearly a third of all retail in the UK in May 2020 - it has since decreased slightly, but it will be interesting to follow this trend over this year, the holiday season, and into next year.
What do the latest retail marketing trends mean for your e-commerce marketing strategy?
The biggest takeaway from our 2021 retail e-commerce marketing trends is that, with increasingly complex customer journeys in 2021, retailers need an e-commerce marketing strategy that integrates customer experiences.
Customer lifecycle marketing is more necessary than ever, as consumers increasingly use multiple channels along their path to purchase. Therefore, to ensure you build a strong e-commerce marketing strategy to both reach and convert your customers, you need to consider the whole customer journey.
We have marketing training and tools to refresh your omnichannel approach to e-commerce marketing strategy. Our popular RACE Framework structures your strategy across the customer journey process of plan, reach, act, convert, and engage. You can find out more about these resources and how to apply them to your e-commerce marketing strategy throughout this article.
We are now in the e-commerce marketing optimization era. To maintain growth, businesses need to innovate their approach to e-commerce marketing. Stay up to date with the latest sector trends
It's not a surprise that this year's trending e-commerce strategies and tactics all center around making online shopping experiences and comms more persuasive. In 2021, e-commerce retailers need the tools and techniques to stay competitive and defend their market share. That's why we've put together our free retail e-commerce marketing 2021 trends guide for e-commerce marketers to optimize their marketing across the customer lifecycle. As always, we've integrated these trends across our popular RACE Framework of Reach, Act, Convert and Engage.
While online sales continue to grow in importance, the days of easy double-digit, year-on-year growth (as online shopping grew in popularity) are ending. In the era of e-commerce marketing optimization, retailers are rapidly scanning the marketplace to outpace their competitors.…
What is e-commerce marketing and how is it different from other digital marketing? Discover opportunities for strategic optimization in an industry which has seen year on year growth like no other
2020 was the year of e-commerce. You don't need me to tell you that. Over the last decade, our marketing technological ability and sophistication have gradually improved, enabling increased e-commerce engagement and traction, as more businesses have begun selling online.
However, it's the rapid change in social behavior during the global pandemic that is responsible for the peaks we've seen this year - such as e-commerce accounting for 16% of total sales in the US in Q2 2020.
Identify, anticipate and satisfy customer requirements profitably, online
So, your customer wants to buy from you online? Great. But how is…
Social commerce gives brands opportunities to create seamless e-commerce experiences directly within popular social channels
One of the things that has always fascinated me about social media is the way it continues to adapt and evolve to changing consumer trends. Over the last 20 years we’ve seen a progressive shift from simple, text-based updates, to increasingly visual and ephemeral content, championed by app-based platforms like Instagram and Snapchat, and at the same time, social commerce has flourished. And whilst newer entrants such as TikTok have taken this trend even further, there have also been innovations in one-to-one communication seen in the development of messenger apps such as WeChat, WhatsApp and Messenger (the latter both owned by Facebook):
It’s been interesting to see how some of these trends have converged to drive innovation in social media beyond…
Personalized marketing, as we know from our experiences as brand-lovers and as marketers, is the make or break of any e-commerce marketing strategy in a competitive environment
Personalized marketing is all about offering improved user experience (UX) by serving relevant content, or targeting key messages in the funnel, based on your customer’s e-commerce activities and behaviour. Personalized marketing unlocks tactics for retailers to form personal relationships with their customers during their online experience (CX), to nurture leads and drive more sales from digital marketing.
According to SmarterHQ, 72% of consumers say they now only engage with marketing messages that are personalized and tailored to their interests. And with competition at an all-time high, value added by personalized marketing is exactly the tactic your retail/e-commerce marketing strategy needs.
Despite this, customer security and privacy concerns are at their peak. A McKinsey 2020 consumer-data report…
E-commerce businesses cannot stay on one platform if they want to get ahead of the competition. This is where e-commerce multichannel marketing comes in
Channel loyalty doesn’t exist; buyers check different channels before they make a purchase.
Even with promos, they still compare offerings. Take Amazon prime day for example. Some 76% of shoppers plan to visit other channels before making a purchase. Around 46% of them compare prices at Walmart, 40% use Target, 39% try brand websites.
E-commerce businesses cannot stay on one platform if they want to get ahead of the competition. This is where e-commerce multichannel marketing comes in. Multichannel marketing involves promoting and selling on every channel that your customers can interact with you on.
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Depending on what business you’re in, typically anywhere from 2%-15% of your online visitors convert into customers. That means 85%-98% don’t. So, wouldn’t you like to know why?
You can, by gathering some critical customer feedback with some very affordable methods and tools. Best of all, all of these analyses can be done for less than $1000 (USD).
I call this ‘taking the pulse’ of your prospects and customers — from two angles, and using multiple methods. By two angles I mean doing both quantitative and qualitative analysis. And the methods include:
Reviewing your analytics data
Reviewing your visitor clickstream data
Gathering ‘voice of customer’ data
Running an eye-tracking study
Launching a one-question poll
Getting expert conversion review
Why so many methods? Well, your medical doctor doesn’t just check your blood pressure, then say, ‘OK, we’re done,’ and send you on your…