As lockdown comes around again and consumers worldwide turn to online vendors once again, it is clear that the eCommerce industry is growing steadily and seeing increased demand.
As the festive season looms, demand is set to continue to increase and given such interest in online shopping, some sources estimate global online retail revenue will reach almost $5 trillion by the end of 2021.
However, given the ever-increasing demand for online retail and eCommerce platforms, the competition for eCommerce merchants also goes up. With more businesses entering the online market, it is important to keep up to date with the latest trends and ensure your eCommerce business continues to grow and is not left in the wake of other more proactive competitors.
Here are a few of our top tops and tricks that are worth focusing on over the next few months to ensure you survive the holiday rush and are well positioned for everything 2021 will throw at you.
Invest in Video Marketing
Today people are reading less and watching more. Catching someone’s attention in two seconds flat is the new normal. As a business owner, you must invest in video marketing.
It is an easy and fun way to actively engage with customers on your website and social media channels and can significantly boost sales. If you’re clever, a marketing campaign that goes viral can turn a local business into a booming international success.
When it comes to your eCommerce website, utilise the expertise of website developers and eCommerce consultancies such as Myk Baxter Marketing to embed videos from social media platforms such as YouTube, or add video-based design elements that will easily enhance your homepage or product page, attracting more customers towards your store and increasing brand awareness.
Invest in an AI Chatbot
Chatbots are crucial for eCommerce website owners looking for a competitive advantage. When customers visit an online store, if they have any queries or questions, they’ll need immediate responses. If you take a day to manually reply, they’ve already found an alternative.
To keep a sustained customer service, invest in chatbots that make the most of modern AI technology to respond to all kinds of questions and requests. Specialised website developers can help install these features and improve your usability for the end user who is looking for on-demand, one-click solutions.
AI chatbots can also understand sentence meaning, read mis-spelled words, converse in many different languages and even successfully answer unfinished inquiries.
Focus on Omnichannel Consumers
Today, consumers online do not hesitate to use and frequent a wide range of online platforms instead of doing all their shopping on one online platform. With people shopping on branded websites, aggregated stores (such as eBay and Amazon) and social media (Facebook, and Instagram), it proves that taking your store onto platforms you are not used to is a recipe for success.
It is proven to be more profitable when online store owners cater to the needs of omnichannel consumers by marketing products or services available across multiple channels, online and off.
Simple Payment Methods
As mentioned above, holding a potential customer’s attention long enough to get to the checkout can be an impossible task at times. In addition to attractive video marketing and easy-to-use website interfaces, simplifying your payment method is maybe one of the most effective ways to secure a sale.
Unless your final stage of the shopping experience is smooth and simple, you could end up losing potential customers. Did you know that over 70% of online consumers abandon their cart at the last minute? How about 30% of those consumers saying it was because of a complicated checkout process?
Simply put, you have to invest heavily in an easy user experience if you are to secure the most conversions on your site. Thankfully, website design experts like Myk Baxter Marketing have the tools and the know-how to help re-develop your website around the needs and behaviours of your target markets – ensuring first click to final checkout is a breeze.