eCommerce - The Future of Retail

In recent years we have seen the eCommerce world skyrocket. With online shopping growing in popularity and usage, customer acquisition also goes up. To remain competitive in this digital landscape, generating leads and maintaining current customers are essential tasks.

Image by EmpireFlippers.com

A great place to start is figuring out who you are selling to. Get to know your consumer's interests, trends, values, and how your unique product or service can solve their need. By better understanding your consumer you can clearly identify your position.

Positioning is important to implement in eCommerce. You must be able to distinctly define what your business is about, your tone of voice, delivery, and the problem you are solving for the consumers you are selling to. Once you have identified who you are selling to, you should have a comprehensive understanding of what you are selling. Pin down the two overarching aspects of digital marketing - people and product.

From there you'll want to land on a call to action. As mentioned previously, lead generation is essential for sustainable profit and growth. There are a number of ways to reach new customers - like email automation and leveraging your customer service team.

Website conversion is another area to master. Even if you are able to drive traffic to your website, this traffic is meaningless if you are not converting sales. Conversion can be increased by having category pages to help consumers find the right product and product pages that have great products with videos, descriptions, reviews, and images. You can make your website even more interactive and increase units per transaction by offering similar products on each product page. For reference, if a consumer is viewing the Nike Jordan 1 Lows, put product page links to Jordan socks and Jordan clothing. Many retail apps have also been utilizing a photo scan tool. This works great because retailers are often closing out older products while releasing new products. A consumer can snap a photo of their favorite old Nike shoes and the Nike app will scan the photo to generate currently available similar items.

Lastly, get to know your existing customers. Run surveys, polls, email campaigns, and ask for their input. It is much easier to get an existing customer to convert rather than a new customer who has not purchased your product/service before. There seems to be a trend towards personalization. Personalizing an online experience will keep people within your app environment longer. Customer progression, keeping them in the purchasing funnel is essential. So, how are you driving forward your brand in this digital world?

_________________________________________________________________________________________

Elfrink, G. (2021, June 17). The Ecommerce Business Model Explained [Review of The Ecommerce Business Model Explained]. EmpireFlippers. https://empireflippers.com/ecommerce-business-model-explained/