10 Strategies for Ecommerce Success in 2023
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ECOMMERCE SYSTEMS IN 2030 – WHAT WILL BE NEW
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Usually, people spend an average of nearly 2.5 hours daily on social platforms. This has led to the fascinating growth of E-commerce businesses amidst the global pandemic. Electronic commerce is the activity of electronically buying or selling of products on online services or over the Internet.
E-commerce can be conducted over various devices like computers, tablets, smartphones, and other smart devices. Almost every imaginable product and service are available through e-commerce transactions, including books, music, plane tickets, stock investing, and online banking.
E-commerce businesses need to be agile to stay ahead of the competition and focus on the right strategies to adapt to the latest trends. Here are 10 most important e-commerce growth strategies to consider for your e-commerce business to thrive.
In Mobile-focused marketing initiatives, your customers are on their phones when you need to reach them. Mobile e-commerce is expected to grow at a rapid rate of 22.3 percent in 2023. So optimizing your customer experience for mobile is necessary for e-commerce brands to stay in the game.
A mobile-friendly e-commerce site will always fit into the user's screen size with large font sizes and buttons. It’s quick to load and has a streamlined layout. The customer experience can be improved with order updates, automated two-way conversations for things like product recommendation quizzes, and access to customer service.
Organic social media will help you to increase brand awareness and build deep relationships with your followers. Influencer marketing is another impactful method to reach new audiences and take advantage of the followers in regard to product recommendations. Targeted paid ads are used to reach social media users who are likely to be interested in what you have to offer.
Create Alluring Contents
It’s challenging for e-commerce companies to stand out without an alluring content of 500-word blogs daily. There should always be a strong strategy made up of videos, blogs, podcasts, and paid advertising. To create exceptional content, businesses must identify exactly what would attract the customers and create content that fits into that narrative. If you aren't aware of what kind of content would captivate your customers, then use these three strategies:
- Watch your competitors.
- Deep learn your customer base.
- Brainstorm your experiences.
Strong Social Media Strategy
To have a Strong Social Media Strategy you should have a clear idea of Your Target Audience, predefined social media goals, and perfectly engaging content. Usually, many e-commerce businesses use social media in a way to keep potential customers at a social media channel and don't drive them to the sales site.
In 2023, let's develop strategies and use tactics like live streaming, social media chatbots, and stories to drive customers to your store. Paid advertisements will help to convert leads to “ready-to-buy” customers.
Update Email Marketing List
Though email is an old form of digital marketing, it won't get outdated in the near future. As it isn't effective to spend time and energy on too many emails when only a few are useful. Send out a short new year questionnaire to your list as e-commerce businesses are becoming smarter about their marketing lists. Ask them about their awaited products and the information they would like to receive in the coming year. This will definitely help you to see which addresses are active and dissect the data for better marketing campaigns.
Strong Social Commerce Strategy
A strong social commerce strategy means connecting your ecommerce store to your social media profiles. By tagging products in your posts, social media users can browse your store without leaving the platform. A live-stream shopping experience can be created by working with influencers, or even offering exclusive deals on social media platforms. Social commerce isn't just about making products available on social platforms, but about developing a complete strategy for social media that attracts, engages, and converts leads to shoppers.
Customer-first policies are important in increasing customer satisfaction but also reduce the customer's risk of trying your products. Don't forget to offer free shipping and returns, so the customer doesn't lose money if it's a failed product. A returns window of 30 days or more will also help customers feel at ease and give them time to decide.
Implementing a guarantee will ensure that if customers are unhappy with their purchase or the product fails, they can return it or get a replacement without hassle. This can be particularly important as customers are more selective with where and how they spend their money. And it will alleviate any concerns about product durability.
Magnify your Retention Strategy
Well know that paid ads are too expensive, but it's more costly to acquire a new customer than to get existing customers to make further purchases. To keep steady the escalating business costs that have come with inflation, consider reducing your paid ad spend. Think about offering loyalty or reward programs, where customers can earn points for engaging with your brand and let customers redeem those points for discounts or free products.
Boost Cart Values
Offering discounts will encourage customers to do bulk purchases. Cross-selling techniques or product bundling will incentivize customers to add more products to their cart. Upsell a customer on a similar product with more advanced features, more durable materials, or other benefits.
The pandemic has led to a growth in global e-commerce sales so that customers get a chance to taste global trends. If you have no access to the international market, it may be time to see how you can tap into other areas where you may not have sold before.
Sustainability and Social Impact
Sustainability and social impact is other growing trend to keep in mind for successful e-commerce in 2023.
A study shows that sustainability has grown to be more significant to 52% of shoppers compared to before the pandemic era. The study also identified several consumer behaviors that indicate customers care about their impact on the world via the brands they purchase from. Switching to local products, buying eco-friendly brands, and stopping buying products with too much packaging are a few examples.
In the changing global e-commerce market, with the right e-commerce growth strategy, your brand can adapt and thrive in the year to come. Integrate with your marketing and customer service software ecosystem to streamline the customer experience. Benefit from classic features like automated two-way conversations, dynamic audience segments, and white glove services to build your strategy.
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According to research the Global ecommerce sales growth will reach $6.51 trillion by 2023, with ecommerce websites taking up 22.3% of the entire retail sales.
A better understanding of your target audience is the key to a successful e-commerce business. It includes their likes, the money they can spend, online places where they mostly hang out etc.
With high social media presence Online stores are expected to get 32% more sales on an average. The Indian eCommerce market is one of the fastest growing markets in the world, with 25.5% growth in sales in 2022.
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