5 Ecommerce Strategies to Future-proof Your Business
- Posted by motivateconnection
- On April 4, 2021
- 0 Comments
- marketing strategy
The pandemic has caused major disturbances in all spheres of life. Business is no exception to the drastic changes that are sweeping across the world. In the current scenario, it is essential that we think about what the future might hold, namely the technologies and innovations that are going to shape the way business is conducted. No customer retention approach is set in stone. Companies have to be proactive in solving client’s problems while constantly improving business processes based on information.
Staying up-to-date with the latest marketing trends and methods is vital for any successful e-commerce website. It is crucial to deliver relevant, interesting, and informative content and services that truly suit the needs of the target market. The following are some strategies that can help boost your business in the months to come.
1. Subscription Models
Online subscription services have become a leading online trend. More and more customers are keen on receiving products on a recurring basis via subscriptions. It is estimated that in the span of a year, Netflix and Spotify have seen an increase of up to 25% and 48% respectively, in subscriber growth. E-commerce subscription services are broad of three types-
- Replenishment Services – Approximately thirty-two percent of e-commerce subscribers opt for these services for recurring and convenient buying of items.
- Curated Services – Around 55% of e-commerce subscribers fall into this category which endeavors to give customers new or highly personalized selections.
- Access Services – It is estimated that about 13% of e-commerce subscribers sign up for such services in order to avail exclusive access to a variety of perks, including discounts.
As long as you do not intend on increasing your product prices significantly, this is an ideal way to foster a long-term relationship with customers.
It has been seen that if data is used properly for the purpose of personalization, it impacts customer satisfaction in an important way. Though the collection of personal data is no easy task, introducing a personalized, knowledgeable service is what sets businesses apart from others. Using the data on buying behavior combined with demographics and even data from third-party providers can help paint a picture of what the customer might be interested in.
3. Multi-channel and Omni-channel retail
Studies reveal that approximately 73% of consumers connect with a brand at multiple levels in their decision-making process before buying an item. This underlines the necessity for your product to be wherever your customer shops or gets information about products. Managing multiple selling channels might be challenging time-wise and resources wisely, but there are some platform solutions that provide the kind of infrastructure needed for multi-channel and omnichannel retail.
It goes without saying that your multi-channel software should consolidate data from all channels, ensure consistency across all platforms, reach customers at every touch-point and help manage inventory.
4. Social Commerce
It is believed that, on average, adults these days, spend up to two and a half hours per day on their devices for social or messaging purposes or entertainment. Studies have also revealed that approximately 78% of respondents of a survey found products on Facebook, whereas 34% found them on Twitter and 59% discovered products on Instagram and Pinterest. It has also been noted that nearly 55% of those who discovered a product on social media went on to make an online purchase. These studies show that social media is an important resource for discovering products that people will buy later.
5. Great Content
Good content is one of the best ways to capture the attention of potential buyers. Adding videos of your product can be a game-changer as statistics reveal that nearly 60% of consumers prefer watching the video of a product over reading a product description. Curating high-quality and original content will set you up for success because it will resonate with your readers in a way that makes them want to engage with you, buy from you, and maintain loyalty.
At Motivate Connection, we strive to give you the solutions you are looking for. Our solutions are based on your unique requirements and budget. We brainstorm as a team to create a list of diverse types of content we wish to create for the client.
This can be videos, blog posts, or even newsletters. We invest in high-quality software, employees, subscriptions, and training for our team. Contact us today to reinvent your business approach and revamp your strategy.