2020 has come and gone and if it’s taught us anything, it’s to always be prepared. Over the last two decades, we’ve seen a huge shift towards online shopping, and there are no signs of stopping as the pandemic rages on around us. COVID-19 has made online shopping the new normal and we see nothing but continued growth throughout the next ten years. In fact, U.S. eCommerce sales saw a 30% increase between the first and second quarter of 2020, with consumers spending over $200 billion online.
Ecommerce is one of the most competitive industries in the world and it’s only going to keep growing and evolving. As it becomes increasingly difficult for your eCommerce business to stand out online, the digital marketing experts at The Hive have put together some smart advertising techniques that you can use to build brand awareness, drive sales, and grow in one of the most competitive industries.
What Is Ecommerce Advertising?
Ecommerce advertising is the practice of placing paid content and messaging online to sell a product or service. The online properties can include websites, social media channels, search engines, newsletters, and more. You pay for clicks, placement, and impressions, allowing you to reach people from all over who may not have heard of your business before. The goal of these campaigns can be to drive traffic to your brand, convert traffic to sales, or market your brand or product to the masses. When first starting, it’s best to experiment and test different strategies with a limited budget to figure out what works best for your company. Here are some of the most powerful eCommerce techniques you can utilize this year:
Remarketing and Retargeting
In a nutshell, remarketing and retargeting can almost be considered the same thing, but they’re slightly different. Remarketing targets your website’s past visitors by collecting information and sending them sales emails. Retargeting involves showing ads to prospects via browser cookies on external websites. Both practices work whether or not visitors made a purchase during their previous visit. There are a few different platforms you can use, but the two most popular ones are Facebook and Google. You can strategically use retargeting ads to:
- Connecting with customers – these people have already bought from you. You can use this as an opportunity to upsell to them or add their email address to your network to show them specific ads.
- Connecting with visitors – these people haven’t bought from you yet. You can retarget them based on browser cookies to help promote your product that they have shown interest in on an external site.
CRM, or customer relationship management, is the process of managing interactions with past and potential customers. The cost of customer acquisition has been rising, so more and more eCommerce businesses are focusing on retention, making CLV, or customer lifetime value, an important marketing tactic to adopt this year. The goal of CRM is simple—improve customer relations to grow your business. Using CRM software, your business can maintain contact information, sales management, productivity, and more. Your CRM software can help with communications because it can be automated which will help with customer satisfaction.
Another important advertising technique to consider employing this year is influencer marketing. This form of marketing delivers a message to potential customers using endorsements and product placement from influencers or organizations with social influence. An influencer uses their social media channels to attract followers or views within a distinct niche and is often seen as an expert in their field.
Much like any other strategy, you’re going to have to do your research. Focus on your audience and identify influencers relatable to your brand. Set a budget, decide on your goals and messaging, and be sure to measure the success of your campaign. Collaborating with influencers helps you to amplify your brand awareness, cut through the noise, and increase revenue.
Post- click optimization can help improve conversion rates for new and returning customers to your website. When running an eCommerce ad campaign, most of the time, advertisers focus on just one piece of the puzzle. They spend time and money creating a well-designed advertisement (pre-click) that drives traffic to a single landing page or even a boring homepage. This creates dissonance and often leads to page abandonment. To create a balanced and optimal campaign, focus not only on your ad experience but also on directing visitors to a web page that matches your ad’s message (post-click).
Artificial Intelligence and Chatbots
Google Home, Alexa, and Siri are all household names these days and they’re all examples of Artificial Intelligence (AI) and Machine Learning technology. AI and Machine Learning technology use a virtual assistant to imitate human interactions, delivering appropriate responses to questions asked.
Complementing smart speakers are Chatbots. A Chatbot is an automated program used on your eCommerce website to respond to customers. Experts predict that chatbots and chat apps will form a $1.3 billion market by 2024. In 2021, we predict using AI, virtual assistants, and chatbots will become an essential part of any online business and the backbone of your customer experience. While chatbots and AI can streamline your business and make your life easier, it’s best to pair this advertising tactic with genuine customer support as well.
With eCommerce businesses on the rise, to run a successful one, you’ll need to have some smart advertising tips up your sleeve. At beMarketing, we can help you target new customers, get them to spend money on your product or service, and turn them into loyal, recurring customers. When you utilize our strategies, we’ll make sure your eCommerce business will thrive and your customers will continually shop ‘til they drop. If you’re ready to get started on a project, connect with our team today.