Five Trends Impacting E-commerce Marketing Strategies
E-commerce plays a very significant role in the marketplace the world over today. Today, far more people are making purchases online rather than in traditional retail stores, making e-commerce the fastest growing area of business. Because of lower operational costs, small businesses have switched to an online presence and are now spending their money on other aspects of their business and growth.
E-commerce is a huge part of the economy today and gives businesses the ability to reach more customers than traditional retail. Consumers also gain power through the experience of online shopping and are able to quickly find and get what they’re looking to buy without leaving their homes.
E-commerce is ever-evolving to meet the changing needs of people and to make shopping convenient for modern-day customers. Over the years e-commerce has changed and overcome its limitations. From enhanced return policies to improved integration, this business model has come a long way. This business model is not only growing rapidly, it is here to stay.
The changing trends in marketing strategy are also constant in this highly competitive business model. Sargam Dhawan Bhayana, director at Tressmart and Glow by Tressmart luxury hair and beauty product portals says, “to stay ahead of one’s competition, one has to keep up with these growing trends and ensure future success”. To drive one's e-commerce brand forward not only does one have to be aware of these trends, but they have to be adopted in a timely manner.
With the advancement in technology and changes in consumer behaviour, one needs to keep an eye out for these trending marketing strategies to not only improve the shopping experience for your customers but to also build a long-lasting relationship with them.
1. Environmental and Green Consumerism:
Today, consumers have become more conscious of the environment than ever before. All online businesses need to step in and ensure they are creating more sustainable practices. Sourcing products from fair trade organizations to selling natural, vegan and organic products brands need to cater to the eco-friendly needs of their customers.
Today's consumer feels more responsible for the planet and this increases the responsibility of brands to cater to this requirement of green consumerism.
2. E-commerce product sampling:
Because of consumers not being able to see, test and feel real products in stores, e-commerce companies are inserting relevant product samples in packages delivered to the homes of their customers which surprises and delights them upon receipt. This instant feel-good concept encourages consumers to do further product trials, social media sharing and eventually purchase the sampled product. This concept leads to a happy customer who feels like they have interacted with your brand at a more intimate level and a higher conversion rate which is what any business wants.
3. Influencer marketing:
Influencer marketing has become one of the fastest-growing trends in e-commerce marketing because of its high ROI, engagement rates with relevant consumers and reaching the correct target audience. It is a highly effective strategy that is going to be in trend for a long time to come, as a large degree of consumers rely heavily on recommendations from influencers on various social media channels to make purchase decisions. Influencer marketing leads to attracting new customers by drawing their attention to certain products which lead to conversions. A win-win for everyone involved!
4. Sales and promotions:
The one thing every shopper loves are discounts and special promotions. Presenting the right offers to the relevant target audience will create a selling frenzy for any e-commerce brand. Today online shoppers are discount conscious and looking for a good deal and concepts like seasonal, festive and end of season sales work like a charm. This concept makes the buyer walk away, feeling like a winner in the transaction.
5. Visual marketing:
An important trend in e-commerce is the use of images, videos and other multimedia content to strengthen one’s brand and communicate with one’s target audience. Today, when it is not possible to go to a store and touch and test products, there is no denying that videos have a real and effective impact on consumers. This powerful trend can be very impactful in bringing new customers and increasing sales. Visual marketing has the means to bring life to any concept and in these times when we are torn between the real and virtual world, this gives a consumer a presentation of products in an attractive and eye-catching manner and has the ability for higher conversions.
These trends are here to stay, and it would be helpful for e-commerce brands to keep these in mind when planning their marketing game.
The author is Sargam Dhawan Bhayana, Director, Tressmart.
