Walmart is an e-commerce adept. Throughout the years, the e-commerce giant has surprised everyone with its excellent marketing techniques to gain maximum attraction from its prospects. Take its top-notch e-mail marketing, for instance. In the current digital age, where most companies fail to create memorable connections via email, Walmart has excelled at doing so.
The company spent $3.1 billion to deliver the targeted emails to cart abandoners. It focused on people who searched for new year party supplies but failed to make it to the checkout. The emails gave recipients a feel for operating a homepage setup with easy navigation. It increased the click-through rate to the website, and as a result, Walmart earned $11.5 billion in sales through e-commerce marketing.
That’s the power of marketing, and you know that already! At this very moment, four out of five sellers rely on marketing for sales. Various marketing tactics are applied every six hours to get the maximum traffic and conversions. Here’s a quick download on what suits best in which scenario. Read on.
Order Making Process and Mass Targeting
As offline orders moved to e-commerce, digital marketing got in charge of bringing the products to sellers. Take for instance, Adsense. Many e-commerce sellers use Adsense to guide customers by displaying contextually relevant ads. Users are exposed to ads related to a product or a substitute to trigger impulsive buying behavior. Which eventually leads to clicking on the ad and landing on the page that showcases the advertised product. The pay-per-click or PPC strategy does wonders for the e-commerce sellers or e-tailers, nearly 90% of the fraternity rely on PPC to get the right audience ushered to the page where a transaction takes place.
The technique also offers an edge in the user search results, where the SERPs are crowned with contextual ads potent to steer users to the site or pages showcasing products that are quite close to the search term used. The approach accomplishes mass targeting by getting the maximum traffic all at once. Amazon, Shopify, and Walmart are the biggest e-commerce giants that pay Google for every click.
360 Degree Analysis and Recognition
Through PPC and Adsense, a seller achieves its short-term goals of driving traffic to its website. But to get a hold of the entire selling process, techniques like predictive marketing are used. By using this technique, a seller receives a 360-degree assessment of their product and customers. Through real-time monitoring of sales, one can monitor the most viewed and purchased product. It allows the seller to determine which products need the most promotion. As a result, a seller can decide whether to increase the price of a product. In addition, predictive marketing provides sellers with a means of determining which products need to be promoted the most. Using this technique simplifies the e-commerce process for the seller.
For a listed seller on Amazon, the presence of millions of competitors is bothersome for its sales. The product listing visibility needs to be increased to compete effectively. Therefore, a buy box is a crucial tool for attracting customers. A seller who meets the criteria of an online marketplace will have its products promoted internally as one means of winning the shop window called a buy box. Additionally, these marketplaces offer multiple options to boost visibility.
A sponsored product ad is another option. Here, sellers fill the pockets of these marketplaces to advertise their products above search results. The result is an increase in sales.
How Can One Make a Difference?
Well, millennial buyers are way smarter than marketers. These hooks and crooks used by sellers are not new to them. What they desire is merely to receive quality products and sales service throughout their journey. Therefore, it becomes imperative for a seller to realize the need to enhance the user experience from a website visit to checkouts. To accomplish this, marketing has gone beyond advertising and promotion. Hence, a marketer or seller needs to make a difference by integrating:
Social Networking Platforms
Terms such as social media aren’t new for us. We all have been to social media platforms and have seen the merchandising taking place. But, only one out of five businesses succeeds in developing a reach. To crack the way out for sales, one should set the target audience correctly. A seller first needs to crack the market by targeting the right demographics. According to BigCommerce, 75% of Instagram users are between the ages 18-24 and 57% between 25-29. Whereas, only 23% are above the age of 45 on Instagram. Thus, a seller needs to be careful when choosing the target market. Business accounts are the third most followed accounts after Personal profiles and celebrities. Hence, enhancement through apps’ built-in features is the best way to drive traffic and sales. Also, the support metrics provided to business accounts enable a seller to track the time-engagement, total visits, and any goods purchased by a customer.
Cart drop-off Detection
A wise seller analyzes sales and their drop-offs. Many sellers do not acknowledge failures, but an informed seller does. It’s a harsh truth that sellers lose money when their customers abandon their shopping carts and are unable to complete a purchase. This is why it’s vital to understand why customers abandon their carts.
Image source : Baymard – E-Commerce Checkout Usability
The above reasons demonstrate that most cart abandonments are because of shipping costs and taxes that force a user to search for a substitute product. Email campaigns are a proven marketing method to overcome these issues. Personalized emails are an effective way to convince buyers to pick up their shopping where they left off. Furthermore, coupons, discounts, or relaxation of shipping rules are also effective in reducing cart abandonment.
The 2 V’s – Voice and Video
This new age of 2021 demands excellent technical assistance for customers. So, sellers have integrated marketing and tech. With so many options available, voice search is a luxury that people tend to prefer. Luxury segment buyers find it more of the correct assistance than a salesperson. Meanwhile, buyers with affordability constraints find it thrilling and worth trying. The user’s experience is made better by these elements!
Another tool is the video. It is an effective way to increase the page on time. Video is an excellent way for an e-commerce company to show the products from all angles. As long as the clips are engaging and influencing, video is an effective marketing sub-tool.
In a Nutshell
The possibilities of e-commerce with marketing are now clear to us. The effective marketing approach can lead to streamlined campaigns, as opposed to a big money-wasting blunder. Yet, not every seller has the time or skill to plan and execute marketing strategies. These marketing strategies require constant planning, implementation, and monitoring. In contrast, seller’s marketing is just one of the functions along with inventory control, order processing, and others. Thus, it is best to bring experts into the picture. Over the past 14 years, our team of marketing experts has been specializing in e-commerce. With our experience in rooting and developing businesses, we hope to help you in growing your brand as well. Contact us if you wish to learn more.