It is always best to give yourself a break and look at the long term plans. Do the present goals of your company fit it’s long term objectives? What will be the new trends and technologies that might change the way we do business? We give you 6 E-commerce Strategies That Will Future Proof Your Business.
Studies say the global e-commerce market is going to increase by over 246% by 2021. To be a part of this humongous growth, you must anticipate and plan ahead for what’s coming.
Here are 6 E-commerce Strategies That Will Future Proof Your Business:
A recent report on Internet trends said that people are skeptical about sharing private information online; however, they are ready and comfortable with personalization and recommendations.
When personal data is managed properly to target recommendations and curated product discoveries, there are sure to benefit.
If the data is mismanaged, it only turns into scandals.
Customer satisfaction is highly improved when personalization with the right data is good.
Personalization is a critical topic when it comes to the growth and success of the company.
Personalization is an important factor that has led to the growth of online subscription services.
Spotify has achieved over 48% subscriber growth over a year by leveraging user data and converting free service users to paid and premium subscriptions.
Reports show that subscription e-commerce sales have more than just doubled every year.
The rise in the subscription is not just in media, but products as well.
An increasing number of customers are subscribing to receive some curated goods and products on a monthly or recurring basis.
Social media is an important platform to market products and well as generate traffic to your website. The platforms present people with products they would buy in the future.
Reports suggest that over 55% of people who view products only actually go-ahead to purchase them online.
Social media’s significance as a referral to e-commercial businesses continues to keep increasing over the upcoming years.
Multi-Channel and Omni-Channel Retail
Your product and the company need to be everywhere the customer shops or research the product.
It will seem like managing a multitude of selling channels requires a massive undertaking and a lot of resources and time. Being understocked can be critical in terms of revenue, and so do overstock.
Fortunately, some platforms provide the infrastructure needed for multi-channel or omnichannel retail. The multi-channel retail must guarantee consistency across platforms, gather data from all channels, and manage the inventory.
Engaging content is a huge drive for e-commerce. It is one of the best ways a customer can learn about your product.
Lately, custom content seems to be the future of marketing.
Great content and a good strategy can increase the number of people that follow your brand and increase outreach significantly.
E-commerce marketers look to interactive content as a part of the strategy to increase traffic and outreach.
Sometimes an image or video of the product can improve sales. Videos are shown to be the better option as they give a direct insight into how the product needs to be used. There is also a higher chance of purchasing the product after watching a video.
Artificial Intelligence has helped customers perform shopping online without the use of their hands. They can buy products by describing them verbally while performing other household chores.
Voice search is very different from the standard typed question.
The “who “what” and “how” questions suggest that the customer is closer to buying the product than a question related to comparison or definition.
The future of web content seems to incline towards context and semantics rather than keywords.