The eCommerce market is growing at an unprecedented rate. The surge is a double-edged sword because the competition is fierce and customers spoilt for choice. The booming landscape is also changing fast with the rise and fall of trends that shape it.
It is getting harder and harder to build trust and keep up the pace with all the novelties. Yet, that is the only way to boost sales and revenue. To stand out from the saturated market, you need to grasp factors that determine your prospects and commit to constant fine-tuning of core business aspects.
After the historic dethronement of desktop PCs, mobile search continues to move the boundaries. However, the problem is that many customers, for various reasons, still refrain from making purchases on mobile devices. Consequently, the conversion rates remain low.
To overcome this hurdle, facilitate seamless integration across multiple channels and devices. Marketers must rise to the occasion, optimize their pages, and forge a swell mobile experience. Websites must be adjusted to smaller screens and all key features visible without eye strain, frustration, or resorting to a PC.
Experts argue that business models that focus on subscriptions are the present and future of eCommerce. This principle was pioneered by SaaS businesses and it has proven to be fruitful for both businesses and customers.
To the former, it gives recurring revenues and income predictability and to the latter it provides flexibility. Hence, we expect subscription-based business models to continue to drive growth in 2017 and beyond and not just for companies that create software, but eCommerce sector as a whole.
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Smart SEO strategies
The world of SEO is changing swiftly, but one thing is still the same: Making your way to the forefront of SERPs allows you to hugely boost your visibility in the eyes of customers. Of course, knowing which digital marketing tools of the trade to pick is the key to moving up in rankings and attaining more traffic.
All-in-one SEO platforms are always a prudent choice (SEMrush most notably), although you also have more specialized options at your disposal, such as this great SEO audit. So, do your homework, select weapons for your SEO and marketing arsenal carefully, and use them to the maximum potential.
AI for smart marketing
Big data and business intelligence have already rocked the world of eCommerce and they are now old news. However, with the leaps and bounds AI tech is making, our capability to target customers and offer personalized products and services is reaching new heights.
Namely, in this day and age, it is possible to employ hyper-targeting with tools such as re-marketing ads. You could say that it is high time to take a data-backed, analytical approach to track key metrics and make predictions about customers’ needs and wants.
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Integration of chatbots
This brings us to the phenomenon of chatbots. This is no fad or gimmicky buzzword, but a breakthrough marketing strategy, which is already utilized by numerous eCommerce organizations. The ultimate goal is to automate a variety of repetitive tasks over the internet and increase efficiency.
Think of chatbots as human helpers, just without all the overheads attached. They are far from perfect for now, but these cutting-edge software effigies can already comprehend complex concepts and answer the queries of users. This mitigates annoying friction and enhances the customer experience.
Harnessing the power of visual assets has never been more important for online businesses. Namely, creating creative and high-quality product imagery is a great way to spark attention and establish emotional connections with visitors.
In the process, you will be able to significantly improve conversion rates, social engagement, and ultimately the bottom line. Finally, bear in mind that we will likely see more traction for shoppable personalized videos. They were launched by YouTube back in 2015, and have been growing strong ever since.
Hit it big
The huge eCommerce market is a powerful magnet for brands both big and small. The low barriers to entry and millions of customers do not mean the profit is there for the taking. You have to tool up and cut through the noise with smart marketing.
This is the most effective tactic to set yourself apart from the competition and get ahead of it. Falling behind on global megatrends and best practices that make or break success is not an option. Therefore, embrace a planned approach and implement continuous analytics and optimization.