How to Ensure Your Business is Keeping Up with the E-commerce Growth Rate
Despite its somewhat rocky start, e-commerce has established itself as a powerful industry that’s completely changing the way consumers fulfill their needs. According to Digital Commerce 360, e-commerce sales represented 51.9% of all retail sales growth. In the US, we can thank Amazon alone for 40% of online purchases. Our market is changing and with it, so must we. Here are some ways to ensure your businesses is staying on top of all the changes the e-commerce growth rate is bringing.
Things are changing
Especially now that online retail has become far more reliable and efficient, people are increasingly making their purchases online. E-commerce offers a fast, convenient way for people to get what they need without having to go out of their way to get it. Who could say no to that? However, while this greatly benefits consumers, it can have quite the detrimental effect on offline retailers. In 2018, 12 retailers filed for bankruptcy with over 1,521 physical locations closed as a result. At first glance it seems that e-commerce is on its way to replacing offline retail completely. This, however, isn’t necessarily the case.
Stay active on social media
Don’t get me wrong, it’s not that online and offline retailers can’t coexist peacefully. The fact of the matter is that, in our modern-day society, they are now co-dependent on each other to rise to success. If you aren’t building your presence online, you can kiss your presence in real life goodbye. The growth in e-commerce shows us that more and more people are taking advantage of the amenities of online retailers that sometimes offer more options than a traditional store would. But, how are they doing this? Via websites and mobile apps like Instagram, Twitter, and Facebook. That’s right, even social media offers options for retail.
Your goal is to build your brand recognition and increase your sales, right? Well, it’s the same marketing concept as the more traditional method of strategically placing ads on buses or newspapers- be wherever your target audience is. In this case, you have to acknowledge that most people are active on social media and use that to your advantage. Social media creates a more level playing ground for businesses to interact with their customers, as well as potential ones, on a personal level while promoting their products and services. It isn’t just about trying to get people to buy your products, it’s also about building meaningful connections.
Optimize your digital presence
Just having social media accounts and a website isn’t enough. There are millions of accounts and sites online, so how will you make sure yours is getting the traffic it deserves? This is where search engine optimization (SEO) comes in. SEO allows you to implement keywords and phrases related to your products into your content. This increases your ability to rank higher on search engine result pages, allowing consumers to more easily find your business when searching online. Along with those keywords, it’s important to create engaging, unique content that’s relevant to your business – nothing is worse than a website that’s all form and no function.
If your online site is the only impression you can give, make it a good one. It’s unfortunate to lose business just because your website is slow or isn’t optimized for mobile devices. The digital world leaves very little room for these kinds of errors.
Market with the times
Consumers aren’t just looking for brands that fulfill their basic needs anymore, they want to know that their company is socially and politically aware and that its values match their own. Showcasing your brand’s core values is a great way to attract more loyal customers. For example, a food company advocating sustainability and clean oceans can easily tap into an entire mass of people who will support them for it. Tailoring your marketing campaigns and digital presence to reflect your beliefs can help you define your brand as well as reel in more customers. Even creating humorous ads reflecting current events can help you increase awareness of your company.
Use data analytics to personalize the customer experience
The beauty of consumers making their purchases online is that it makes their habits track-able. From there, it’s much easier to deliver more personalized ads and experiences to keep them coming back for more. You can also use this information to test out new marketing techniques and see how effective they are.
Looking for guidance with building your digital presence? Our experts here at Kraus Marketing offer everything you need from web development and graphic design to social media and SEO marketing strategy. Contact us today for more information!