8 Data-Driven Strategies for Achieving E-Commerce Success
In 2016, ecommerce sales totaled $394 billion, representing 9% of total retail sales; this is according to the United States’ Department of Commerce. Surprisingly, the average ecommerce store conversion rate is still below 5%. But as billions of consumers around the world enter the ecommerce marketplace, these figures will rise precipitously.
As you may already know, the ecommerce environment is highly competitive and distributed with consumers having a virtually endless list of options. One of the most challenging tasks is not even getting the potential consumers to visit your online store, but converting visitors into actual buyers. In this article, we will be sharing eight ecommerce marketing tips that can contribute to your e-Commerce Success and steady growth.
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1.Leverage Actionable Data Insights
Like any other marketing environment, the ecommerce arena is data-driven, however, data is of no use if it’s not actionable. The quicker you can action those data insights, the sooner you will be able to grow your sales and stay ahead of your competition.
In order to take advantage of ecommerce data, you need to start by first choosing the right parameters for analysis and using comprehensive data sources. Compare multiple views and presentations of the same data sets using different key metrics to crack up new perspectives and insights from your team.
Figuring Out a Communication format That Actually Works
Figure out the best communication and presentation format that provides a higher conversion rate. You need to ask yourself a few data-driven questions here. For instance, which one performs best when it comes to page conversion, a shorter copy or long product description? On what category of products? And for which type of customers? Should you offer video or text FAQs? Should you offer all the relevant product info – description, ratings, reviews, variants, related products, etc. – on a single page, or should this be in expandable sections? You get the idea, right?
3.Monitor your customer retention
Find out what causes higher customer retention. Is it the loyalty program? Is it exclusive offers? Is it low pricing? Or maybe the discount coupons? It could also be your social media engagement, or maybe your email marketing? Each of these potential suspects could easily be contributing to a higher customer retention, but at different rates. Using ecommerce data, you can easily figure out which approaches are giving you the best bang for your buck and prioritize them.
4.Advance your SEO approach to a new level
An ecommerce study revealed that search and direct traffic account for 40.1% and 42.18% of all ecommerce site traffic, making search engine optimization the most important ways of earning traffic to an ecommerce site. This means if your ecommerce business doesn’t have a solid SEO strategy, you’re a couple of steps behind your competition. Be sure to utilize analytics tools to identify the best keywords for your products, and where your conversion comes from to guarantee your e-Commerce Success
5.Re-evaluate Your PPC Campaign
Use well-targeted paid ads designed from sales data collected from your ecommerce platform. Most users prefer the mobile-friendly ads displayed in HTML compared to the standard media ads. HTML ads can help your ecommerce business effectively communicate the value of your brand to your audience. Consider using the 730 x 90 or 300 x 250 ad sizes in your PCC campaign as these are the most preferred by consumers and your competitors.
6.Implement mobile optimization, but don’t forget desktop
Marketing data offered by SEMrush reveals that mobile traffic accounts for about 57% of the total ecommerce traffic. This also means that a good number of consumers still prefer to do their shopping on their PCs. So while you aim to make your site mobile friendly, remember to retain a strong desktop presence.
7.Do you have enough product reviews?
Product reviews are a powerful marketing tool for any ecommerce website. They offer social credibility, which is key when trying to improve your conversions and sales. Collecting customer product reviews on your site also improves your visibility in search engines, while the short commentaries and star ratings by customers are visually appealing.
8.Incorporate emotional triggers in your ads.
Identify your customer’s pain points and use appropriate emotional triggers to win their minds and hearts. You can use phrases like “free delivery”, “money back guarantee” and “free shipping” to appeal to more customers. You can also use a sense of urgency by including terms like “today” and “now”.