June 3, 2021
Loyalty programs, responsive web content, and checkout screen optimization are important components of a complete e-commerce strategy.
The COVID-19 pandemic massively accelerated what many consider to be a one-way march towards a future in which e-commerce is the default. With digital retail growing by 32% in 2020 to account for 14% of all retail sales, there’s more demand than ever for e-commerce marketing tips that can help online retailers grow.
All that opportunity won’t go unnoticed, however, and marketers looking to capitalize on the growing number of valuable new customers will find themselves in stiff competition, and not just against their peers. E-commerce giants like Amazon and eBay are also cashing in, making it crucial for marketers to have a comprehensive understanding of their e-commerce marketing strategy and how it will guide shoppers to the checkout screen. In this article, we’ll share some e-commerce marketing tips that can help increase conversions now and in the future.
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Effective growth marketing is rooted in experimentation, and your shopping cart experience should be first in line for analysis. It’s precisely where first-time shoppers will see their final total for the first time, and it can be enough to change their minds. In fact, a 2020 study found that online customers abandon an astounding 88% of e-commerce shopping carts instead of completing their order.
Additional research has found the abandoned cart phenomenon most often boils down to a lack of trust. Consumers become concerned about security once it’s time to enter credit card information or look at the delivery fee and wonder if a better price is available elsewhere. By taking steps to build and reinforce trust at this crucial stage, you make your e-commerce shoppers far more likely to complete their transactions and decide whether becoming a long-term customer is worthwhile.
E-commerce marketers looking to reduce those abandoned cart numbers need to prioritize a few practical tactics:
When it comes to driving conversions, retained customers are a gold mine. In fact, one study found that the success rate of selling to existing customers is between 60 and 70%, whereas marketers only succeed in selling to new customers 5 to 20% of the time.
That’s why successful e-commerce businesses make customer retention and repeat business a top-tier success metric. There are a variety of ways to encourage this result, but creating a loyalty program is among the most reliable. You can offer reward points, discounts, product tracking, and other bonuses within a single membership plan.
Whatever benefits you choose, try to emphasize features that enhance the value you provide to customers. If you implement reward points, for example, use the checkout screen to highlight how many points are needed to redeem a full or partial discount. Consider giving long-term members gifts to reward them for their extended loyalty.
The path to generating well retained customers starts with a single step, and Moloco can help. Our self-optimizing cost-per-action campaigns help e-commerce marketers establish positive first-touch points with valuable new audiences that can be cultivated into profitable long-term relationships. Get in touch with us to learn more.
Modern customers have a shopping advantage no other customer in history could benefit from — a smartphone that lets them research products before making a purchase. As marketers, it’s essential to account for this and design responsive content that shoppers can view on any device.
Responsive content refers to web pages and marketing creative that adjusts itself to suit the device. While customers shopping from a desktop computer are seeing one site design, others will see a version optimized for their smartphone. We can’t assume shoppers will download an app before looking up products, so web content must be viewable on the broadest possible array of screens.
Marketers will likely need responsive content that adapts to desktop, smartphone, and tablet screens. Be certain that images and text will scale each display, and choose fonts or color schemes that will be visible on any platform. The more accessible you can make website content, the more likely you will acquire diverse customers.
Social validation is a significant factor in determining whether someone will shop from a particular platform or not. By seeing other people who are satisfied with their purchases — particularly someone they know personally — they are more likely to take a chance themselves.
Including customer reviews directly on product listings is a reliable starting point, but there are other approaches. For example, you can also highlight positive customer sentiment on social media channels. One study revealed that 72% of millennials consider beauty and fashion products they see on Instagram, while another found 71% of customers seek out recommendations from peers. If shoppers see their friends are following and liking your branded posts, they may take a closer look at your offering.
Loyalty programs, responsive web content, and checkout optimization are all important, but they are still components of a complete e-commerce strategy. Moloco can help you deploy programmatic advertising initiatives that will help you connect with shoppers, reduce cart abandonment, and drive purchases. Reach out today to find out how Moloco can make a difference.
By looking at spending trends stretching as far back as 2020, we can begin to understand how the industry has evolved so far and what to potentially expect for the rest of the year and beyond.
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