As if the Ecommerce industry wasn’t on a steep upward trajectory already, during the COVID-19 pandemic has experienced a boom like never before. In fact, in 2021 it is expected that the Ecommerce market value in the US alone will reach five billion dollars. What this should tell you is that the Ecommerce industry is currently one of the most lucrative playing fields for newcomers and established brands.
However, it’s important to note that the rise in market value also makes the industry more competitive than ever before. Success and affluence are not guaranteed just because you have an online store – you have to take advantage of the right marketing tactics to gain a competitive edge.
That’s why today we are talking about the essential marketing rules you need to follow and implement to take your business forward, and how to best integrate them into the Ecommerce business model. Here’s what you can do to take your Ecommerce marketing to the next level.
1. Capitalize on the FOMO effectYou might not have noticed this before, but the modern customer hates missing out on amazing deals. In fact, the modern customer hates missing out in general, whether it’s a special discount, a bundle deal, or a limited supply of products. If there is anything you as an Ecommerce leader should take away from marketing psychology, it’s that the FOMO effect (Fear of Missing Out) is real and that it can help you boost conversions drastically if properly implemented.
As a growth-oriented online store, you need to periodically but frequently offer deals and discounts as well as limited-quantity products to spark the interest of your target demographic and inspire them to purchase right away. However, it’s not just about creating the FOMO effect, it’s also about disseminating the right messages via the right marketing channels.
People need to know that these special offers are currently live on your website, so you have to make sure to craft special ads, landing pages, emails, and social media posts to increase visibility across the online world. Once you weave these deals into the right marketing channels, people will start rushing to your site to snag a great deal or risk missing out.
2. Leverage user-generated content
Another very important lesson and rule you need to keep in mind at all times is that nowadays people trust other people way more than they trust fancy marketing. In other words, you can have the best sales and marketing copy complemented by the most beautiful visuals, but that won’t matter all that much if people don’t see other people using your products. Remember, people trust the experiences of others.
81% of shoppers said they would pay more for a product that has IGC than buy a similar, cheaper product with no reviews.
88% of US consumers trust a product recommendation that comes directly from a friend.
90% of US consumers rate online recommendations from other users as highly influential for their purchasing decisions.
With that in mind, you need to start investing more in user-generated content. Your goal should be to inspire past customers to share their stories on social media, post photos and videos using your products, and leave stellar reviews on all relevant platforms on the web. This will build social proof for your Ecommerce brand and help boost word-of-mouth marketing across the online world.
3. Invest in carefully optimized AdWords campaigns
Of course, one of the most lucrative marketing opportunities for any growth-oriented Ecommerce brand is to invest in online advertising. Optimizing your Google AdWords campaigns for success is a tricky task, as there are many variables in play, but it is still one of the most important elements of your overarching marketing strategy. After all, you need to appear at the top spot in the relevant SERPs to boost brand exposure and incentivize customers to visit your site.
It's also important to monitor the performance of your online ads and how they influence other marketing factors through a centralized marketing dashboard that will give you a comprehensive overview of your entire campaign. But before you can launch an ads campaign, you need to build up your quality score on Google AdWords.
Given the fact that Google AdWords functions on an auction system, you’ll need to outbid your competitors for the top spot, however, it’s much more complex than that. Any marketing professional that specializes in Google AdWords services will tell you that your “quality score” will also play a vital role in putting your ads in front of your competitors.
Earning a high score on AdWords is a complex process, and you should read up on it before launching any campaigns. Still, be sure to invest in online ads to put your Ecommerce store on the map.
4. Capitalize on abandoned shopping carts
There is no excuse for letting your customers abandon their shopping carts. It might sound a bit harsh, but if you want to boost your brand, sales, and marketing, you need to get back in touch with those customers and inspire them to complete their purchase. Otherwise, you’re just letting your competitors steal them away with better deals and discounts.
Make sure to establish a clear line of communication with all customers who abandoned their carts via email. Give them a unique incentive to come back to your site. Also, put those cookies on your site to good use to position targeted ads around the web that will remind them of the products they were looking at, which will remind them to come back and complete their purchase.
5. Turn negative reviews into success stories
Lastly, never let a negative review go unanswered. If you let negative reviews linger without a proper response, then you are allowing others to tell the story of your brand to the world. You want to be the narrator, so it’s important to address any negative feedback that comes your way.
However, you mustn’t try to blatantly justify your actions. Instead, aim to turn negative feedback into success stories with a problem-solving attitude. Some reviews you’ll handle publicly, while the more delicate ones should be handled privately. In either case, make sure to let your audience know that you have successfully resolved the issue. This will inspire trust in your brand, build social proof, and improve word of mouth.
Succeeding in the modern Ecommerce environment is not easy. You have to invest heavily in marketing to build a competitive advantage, so make sure to use these tips to outsmart your competitors and bring more customers to your store.
Author Bio: Lauren Wiseman
Lauren is a digital marketing specialist and business consultant from Melbourne. After getting a marketing degree she started working with Australian startups on business and marketing development. Lauren writes for many relevant, industry related online publications and she’s one of the authors behind Bizzmark Blog.