Top Marketing Strategies to Drive More eCommerce Sales
With the increasing competition in the eCommerce landscape, online entrepreneurs are doing their best to gain consumers’ attention. eCommerce marketing is one of the strategies online sellers use to keep up with competitors.
As you read further, you will learn more about eCommerce marketing and other important insights that can help you improve your eCommerce marketing campaigns for better conversions.
The Basics: What is eCommerce Marketing?
Whether you are a new or experienced online entrepreneur, it’s essential to refresh your knowledge of the eCommerce marketing space. eCommerce marketing refers to activities related to promoting an eCommerce store or business that sells products or services, be it on Amazon, Shopify, or other online platforms.
eCommerce marketing is an act that drives awareness and elicits a response from online shoppers to act upon a particular listing. Such a strategy is geared towards customer acquisition or customer retention.
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Top eCommerce Marketing Strategies
Whether you are selling primarily on Amazon or other leading eCommerce websites, eCommerce marketing is one of the tools you can use to improve engagement and increase online sales. To serve as your guide, here are some eCommerce marketing strategies you can implement for your online business.
Social Media Marketing
Social media marketing is a widely utilized marketing method in the eCommerce industry. One of the reasons why most online sellers use social media marketing (SMM) is its influence on consumers’ purchasing behavior. A well-placed ad on a social media platform can drive a huge amount of sales in a short period of time, for example.
More than 80% of consumers identified social media content as one of the reasons for their buying decisions. Some of the top social media networks used to market products and engage with customers include but are not limited to Facebook, TikTok, Instagram, Twitter, Pinterest, and Snapchat.
To maximize the power of social media marketing, online sellers should not simply use the aforementioned social media networks just to advertise their products or brands. Online entrepreneurs or marketers should familiarize themselves with the five core pillars of social media marketing, which include the following:
1. Marketing Strategy
2. Ad Planning and Publishing
3. Audience Listening and Engagement
4. Detailed Analytics and Reporting
5. Doing It All Again!
eCommerce Affiliate Marketing
eCommerce affiliate marketing is simply an online version of the traditional commission selling strategy. It means that online sellers or business owners will let other websites or affiliate partners promote their products on the affiliate website.
It has been reported that more than 80% of brands use this eCommerce marketing strategy for their online business.
Typically, when an affiliate closes a sale or completes a transaction, the affiliate will earn a commission. Affiliate marketing is one of the simplest forms of eCommerce marketing that is used to drive additional sales and generate revenue.
When venturing into affiliate marketing for your eCommerce business, it would help to know the three common commission structures for affiliate programs:
- Purchase-Based Commission: It means that an affiliate partner only gets paid when a shopper uses their unique code when purchasing from your eCommerce store.
- Traffic-Based Commission: As its name would suggest, an affiliate partner will only get the commission when they refer online shoppers to your online store.
- Customer Acquisition-Based Commission: This type of commission structure only applies when an affiliate partner helps you close a new deal or acquire a new customer for your website.
Content Marketing
Content marketing is perhaps one of the oldest marketing techniques business owners use. One of the pioneers of content marketing is The Furrow, a customer magazine whose first issue was printed in 1895.
As technology progressed, traditional content marketing techniques were introduced to the digital landscape. Thus, making eCommerce content marketing essentially the online version of traditional content marketing.
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In general, eCommerce content marketing refers to creating online content, including written articles, infographics, blogs, and even tutorial videos. Like traditional content marketing, eCommerce marketing’s primary goal is to share content to target audiences with the intention of generating leads for increased sales conversion.
Influencer Marketing
Influencer marketing is often considered a niche of social media marketing, wherein online sellers, brand owners, or business owners rely on social media influencers‘ product mentions or endorsements. Typically these influencers are considered experts or have already established credibility in a specific industry.
Online sellers or entrepreneurs can quickly expand their customer reach or improve brand visibility through the established following of social media influencers. Accordingly, around 49% of consumers depend on the recommendation of influencers for their purchases.
Complementary Tactics for Your eCommerce Marketing Campaign
Here are some actionable tactics that can help you boost the impact of your eCommerce marketing campaign. These activities highlighted below can be integrated into the various eCommerce marketing strategies, including those mentioned in the preceding discussion.
Live Chat Implementation
One of the ways to improve your eCommerce marketing campaign is by implementing live chat. Live chat can help engage online store visitors, for it can directly address customer concerns through real-team and direct chats. According to a survey, around 38% of consumers are likely to purchase from a business offering live chat support to prospective customers.
Product Inventory Improvement
Inventory management is crucial to any eCommerce business, whether on Amazon or other eCommerce sites. In order to keep track of your inventory level, you should take advantage of inventory management tools.
Moreover, you should also see that you have enough cash to pay inventory orders from suppliers and other product sourcing-related expenses, especially for items coming overseas.
You should consider Payability for additional funding if you have issues with your daily cash flow. Payability’s accelerated daily payouts and capital advances can help you fund your inventory and marketing campaigns and ultimately, grow your business faster..
Product Pricing Optimization
Pricing is considered a critical marketing tool that online sellers can easily adjust. As a marketing tool, you can improve engagement and sales by offering a competitive price for your listings.
One of the quickest ways to optimize product price is by means of repricing software. For example, an Amazon seller can use an AI Amazon repricer like Seller Snap to help achieve a competitive price level for their Amazon products.
Marketing Your Way to Success
eCommerce marketing allows sellers and online entrepreneurs to inform consumers about their products. It enables you to establish and maintain a lasting relationship with local and international audiences. Thus, helping your online business achieve success.
The tips and insights mentioned above can contribute to the success of your eCommerce marketing campaign. These strategies can help you reach more shoppers and increase sales conversions over time. If done correctly, you will see growth in your eCommerce business in no time.
About the Author: Junel Ayala is a writer at Seller Snap. Over the past years, he has been engaged in project management, SEO content writing, and local SEO marketing for various firms in the United States and Europe.