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11/19/2020
Growing an ecommerce business is not easy. Regardless of your company's industry - whether it be retail, manufacturing, healthcare, real estate, etc. - the reality is that ecommerce is not what it used to be. Almost all companies have websites that, at the very least, provide information and branding that helps raise awareness about products and services. The first, and most important, step to increasing business and customer loyalty is having a strong, easy to navigate website with great customer support. After all, companies that do not have this will anger customers and push away prospects. However, getting your beautiful website experience in front of people can sometimes be difficult in today's crowded ecommerce landscape. Here are 5 effective ecommerce marketing tactics to help increase website traffic:
1. Reflect
Understanding your company's current strategic advantages and value propositions is a must. These change constantly, so it is important to reflect on why your customers are loyal regularly. This means conducting scheduled SWOT analyses and other reflectional activities internally. After all, if you don't understand what clients believe sets you apart, you won't be able to articulate a strong pitch.
1. Reflect
Understanding your company's current strategic advantages and value propositions is a must. These change constantly, so it is important to reflect on why your customers are loyal regularly. This means conducting scheduled SWOT analyses and other reflectional activities internally. After all, if you don't understand what clients believe sets you apart, you won't be able to articulate a strong pitch.2. Understand Your Customers
Customer feedback and outreach is crucial, today more than ever. Not only will this make customers feel valued, but understanding the consumer views on every aspect of the way your business presents itself is necessary to maintain an effective branding strategy or make necessary changes. After all, people always want to be heard.3. Understand Your Competitors
Everyone knows the saying, "keep your friends close and but your enemies closer". While competitors are often far from enemies, it is important to regularly monitor what marketing strategies they are employing and if they are successful. Conversely, it can be helpful to understand what isn't working in terms of PR and marketing for these firms. Understanding competition is essential and can be very helpful to help avoid costly mistakes and uncover growth opportunities. Big tech does this all the time!
11/13/2020
This past Wednesday marked "Singles Day", a shopping holiday of Chinese origin that has spread in popularity across Asia. Based on total sales, this holiday is considered the most popular shopping holiday in the world, dwarfing Black Friday, Cyber Monday, Super Saturday, and Boxing Day. Because of its timing roughly two weeks before black Friday and the official start of the holiday shopping season, Singles Day has been a good indicator of shopping trends. This is especially true this year, as the global COVID 19 pandemic poses the same threats to safety everywhere around the globe.
In the face of the pandemic, ecommerce sales on Singles Day smashed previous records. Alibaba posted its staggering single day sales record of over $75 billion USD, up 26% from last years sales. Other, smaller, firms had similarly impressive results. Consumers from the United States ranked first globally in gross merchandising volume, further suggesting that these record breaking trends will continue during the holiday season domestically.
The ecommerce sector understands the projected spike in demand over the next two months and is preparing accordingly. Roughly one third of Americans indicated that they intend to complete holiday shopping before Thanksgiving. It is essential to make sure that your website can handle a prolonged surge in traffic and sales. Furthermore, shipping information systems and logistics should be air-tight to ensure speedy delivery of products. After all, there is nothing that will turn a holiday customer away faster than the late delivery of a gift.
The surge is coming this season, there is no question about it. Is your company ready? Are you confident in your website presence and capabilities?
In the face of the pandemic, ecommerce sales on Singles Day smashed previous records. Alibaba posted its staggering single day sales record of over $75 billion USD, up 26% from last years sales. Other, smaller, firms had similarly impressive results. Consumers from the United States ranked first globally in gross merchandising volume, further suggesting that these record breaking trends will continue during the holiday season domestically.
The ecommerce sector understands the projected spike in demand over the next two months and is preparing accordingly. Roughly one third of Americans indicated that they intend to complete holiday shopping before Thanksgiving. It is essential to make sure that your website can handle a prolonged surge in traffic and sales. Furthermore, shipping information systems and logistics should be air-tight to ensure speedy delivery of products. After all, there is nothing that will turn a holiday customer away faster than the late delivery of a gift.
The surge is coming this season, there is no question about it. Is your company ready? Are you confident in your website presence and capabilities?
10/28/2020
In an age where Instagram influencers, TikTok personalities, and Youtube bloggers are among the world's most famous celebrities, advertising is constantly evolving to maximize reach. A recent trend in the incubation stages in the U.S. is interactive, live advertising and shopping. This form of advertising has influencers promote and use products on a live feed, interacting with viewers by answering comments and often giving away samples. For the same reasons that Twitch streamers and Youtubers are able to sell merchandise and subscriptions, live advertising has been relatively effective at reaching and selling to a target audience.
Already a large market in China, where live advertising has been responsible for over $65 billion USD in revenue to date, Amazon launched its live platform in November 2019. Influencers are encouraged to apply, where they are accepted or declined based on social media followers and engagement rates. These influencers are live for up to 8 hours a day, where they work for a small base salary plus commission for products sold their live streams.
While not a mainstream promotional method yet in the U.S., live advertising has seen impressive results overseas and offers a relatively inexpensive method to reach a segmented audience.
Already a large market in China, where live advertising has been responsible for over $65 billion USD in revenue to date, Amazon launched its live platform in November 2019. Influencers are encouraged to apply, where they are accepted or declined based on social media followers and engagement rates. These influencers are live for up to 8 hours a day, where they work for a small base salary plus commission for products sold their live streams.
While not a mainstream promotional method yet in the U.S., live advertising has seen impressive results overseas and offers a relatively inexpensive method to reach a segmented audience.
10/06/2020
Everyone knows that ecommerce marketing is a game of numbers. Your company probably has a general formula for how many page visits result in sales for both organic and paid advertisements. Here are three vital ways to increase the number of website visitors become clients.
1. Your website should make an impact on the visitor.
People live fast paced lives nowadays and nobody wants to waste their time. Your website should be informative and provide the viewer with meaningful knowledge about your product or company values. People have a natural inclination to value knowledge and having an informative website will help differentiate your firm, products, and services. Potential customers will be more likely to remember your company, pick it over others, and ultimately flip to clients.
2. Make potential customers feel supported
A difficult or frustrating web experience is the number one reason that business is lost in ecommerce. No matter how self intuitive you believe your website is, every potential customer has different preferences and levels of technological skill. It is essential to offer easy to access, live customer support to help combat issues that customers might be having understanding certain aspects of products and services. Doing so significantly reduces the likelihood that customers will leave your company's website frustrated.
3. Customers should not have to jump through hoops to make purchases
A clean, easy checkout process is vital in presenting a professional brand image and flipping sales. A poor checkout experience frustrates customers, presents an unreliable brand image, and ultimately increases the number of abandoned checkout carts. Presenting free shipping in the checkout window is an excellent way to encourage purchases and has been proven more effective that significantly higher value discounts. Integrating numerous payment methods is essential in ensuring that all customers have a comfortable way to make purchases.
1. Your website should make an impact on the visitor.
People live fast paced lives nowadays and nobody wants to waste their time. Your website should be informative and provide the viewer with meaningful knowledge about your product or company values. People have a natural inclination to value knowledge and having an informative website will help differentiate your firm, products, and services. Potential customers will be more likely to remember your company, pick it over others, and ultimately flip to clients.
2. Make potential customers feel supported
A difficult or frustrating web experience is the number one reason that business is lost in ecommerce. No matter how self intuitive you believe your website is, every potential customer has different preferences and levels of technological skill. It is essential to offer easy to access, live customer support to help combat issues that customers might be having understanding certain aspects of products and services. Doing so significantly reduces the likelihood that customers will leave your company's website frustrated.
3. Customers should not have to jump through hoops to make purchases
A clean, easy checkout process is vital in presenting a professional brand image and flipping sales. A poor checkout experience frustrates customers, presents an unreliable brand image, and ultimately increases the number of abandoned checkout carts. Presenting free shipping in the checkout window is an excellent way to encourage purchases and has been proven more effective that significantly higher value discounts. Integrating numerous payment methods is essential in ensuring that all customers have a comfortable way to make purchases.
09/30/2020
Recently, VC companies have been buying many distressed American retailers. In a recent interview with Yahoo Finance, co-founder of Retail Ecommerce Ventures, Tai Lopez, claims that the biggest trend among distressed retailers today is, "not betting enough on ecommerce". His firm has recently acquired major American brands such as Pier 1, Modell's Sporting Goods, Dressbarn, and Linens-n-Things. The main part of turning these companies around has been leveraging a trusted brand name while revolutionizing the ecommerce experience for customers. This allows these companies to slash overhead, while modernizing provide a convenient shopping experience for customers.
Over 100,000 small businesses have closed in the U.S. since the beginning of the COVID pandemic. While Lopez works with major nationwide retailers, his blueprint can be scaled down to small and medium businesses. Providing a convenient ecommerce experience to customers helps to keep loyalty while expanding demographics. Doing so is essential to both surviving and thriving under current market conditions. Furthermore, experts claim that these conditions are indicative of the future of business. Many predict that the future of shopping and working has forever been changed in 2020, with many people prefering shopping and working remotely.
Over 100,000 small businesses have closed in the U.S. since the beginning of the COVID pandemic. While Lopez works with major nationwide retailers, his blueprint can be scaled down to small and medium businesses. Providing a convenient ecommerce experience to customers helps to keep loyalty while expanding demographics. Doing so is essential to both surviving and thriving under current market conditions. Furthermore, experts claim that these conditions are indicative of the future of business. Many predict that the future of shopping and working has forever been changed in 2020, with many people prefering shopping and working remotely.
09/22/2020
1. Roughly 50% of American small businesses do not have websites.
Simply put, this is unacceptable! By not having a website, you are turning away over half of potential customers, not to mention expansion opportunities into different regions and countries. All businesses, regardless of their sector should have a website to, at the very least, display a brand image online.
2. 65% of in-store customers look up price comparisons before buying a product.
If you look around your store, you will surely see customers on their phone price checking a product. This is one of the many reasons that it is essential to have a strong online presence and website!
3. Roughly 2.86 website visits convert to purchases online.
While reaching the right people is essential to driving sales, it is also a numbers game. Having strong social media accounts and online advertisements are very helpful in getting website visits. Once prospects are on your website, it is the job of a strong website experience to keep them there and turn sales.
4. 69 percent of online shopping carts are not purchased.
A strong website design and purchase inceptives are crucial is reducing this number and turning sales.
Simply put, this is unacceptable! By not having a website, you are turning away over half of potential customers, not to mention expansion opportunities into different regions and countries. All businesses, regardless of their sector should have a website to, at the very least, display a brand image online.
2. 65% of in-store customers look up price comparisons before buying a product.
If you look around your store, you will surely see customers on their phone price checking a product. This is one of the many reasons that it is essential to have a strong online presence and website!
3. Roughly 2.86 website visits convert to purchases online.
While reaching the right people is essential to driving sales, it is also a numbers game. Having strong social media accounts and online advertisements are very helpful in getting website visits. Once prospects are on your website, it is the job of a strong website experience to keep them there and turn sales.
4. 69 percent of online shopping carts are not purchased.
A strong website design and purchase inceptives are crucial is reducing this number and turning sales.
09/16/2020
Regardless of whether you run paid advertising on social media accounts, a strong social media brand image is essential for success in 2020. This is especially true for dropshippers, online merchandisers, and B2B ecommerce companies. If your company does not currently have an up-to-date, regularly posting social media presence, doing so will go a long way towards growing your brand and business. Here are some statistics regarding social media presence.
1. Poor or no social media accounts create a negative brand view for potential customers and clients in under a second.
2. Over 50% of the world's population regularly uses social media.
3. 54% of online shoppers use social media to research companies and products.
4. Social media is the most inexpensive way to build brand loyalty and a brand image.
5. The majority of people under 40 get their news from social media.
1. Poor or no social media accounts create a negative brand view for potential customers and clients in under a second.
2. Over 50% of the world's population regularly uses social media.
3. 54% of online shoppers use social media to research companies and products.
4. Social media is the most inexpensive way to build brand loyalty and a brand image.
5. The majority of people under 40 get their news from social media.
09/02/2020
Instagram users know just how effective the platform has been for merchandisers and startups to reach their target audiences, grow brand awareness, and increase sales. Everytime an individual checks their feed on the platform, they will undoubtedly be exposed to a paid advertisement for a clothing or product merchandiser. I often find myself unconsciously visiting websites of brands that I have never heard of, solely because their product was presented on my Instagram feed in a compelling way. Companies such as Cuts and BirdDogs have been able to utilize the effectiveness of advertising on Instagram to fuel impressive sales growth.
However, rapidly growing social media platform TikTok, which has over 800 million active users, recently announced a partnership with Amazon-like dropship website TeeSpring. This presents an unprecedented opportunity for dropship merchandisers to reach TikTok's predominantly young user base. The social media platform has over half of its users between the ages of 18-24, which has been the most successful target demographic for recent web-based merchandisers.
Utilizing TikTok advertisements presents a viable path to sales and brand growth, however a strong dropship platform and well branded website are what builds customer loyalty and will separate companies in the soon to be crowded advertisement space.
However, rapidly growing social media platform TikTok, which has over 800 million active users, recently announced a partnership with Amazon-like dropship website TeeSpring. This presents an unprecedented opportunity for dropship merchandisers to reach TikTok's predominantly young user base. The social media platform has over half of its users between the ages of 18-24, which has been the most successful target demographic for recent web-based merchandisers.
Utilizing TikTok advertisements presents a viable path to sales and brand growth, however a strong dropship platform and well branded website are what builds customer loyalty and will separate companies in the soon to be crowded advertisement space.
08/14/2020
Amazon is undoubtedly the poster child for eCommerce and dropshipping. The trail blazer. However, its incredible recent growth has left many speechless. Almost everyone knows that Amazon is a dominant company, but most don't know exactly how large and impactful the company is, especially within the United States. Understanding this can better inform eCommerce companies on how to utilize the platform for brand exposure. After all, there is a reason that even some of the world's largest retailers, such as Nike, utilize the power of Amazon's vast reach to promote products and the brand. Furthermore, dropshippers operating solely on Amazon should consider investing in their own website and online brand, in order to reap the benefits of both and grow.
1. 9 out of 10 online shoppers price check using Amazon.
2. In 2019, 82% of American households had Amazon Prime subscriptions.
3. According to marketplacepulse, over 250,000 unique sellers did at least $100,000 in sales on Amazon in 2019.
4. 80% of Amazon sellers have their own website in addition to their Amazon profile.
5. In 2018, the average Prime member spent $2,586 compared to $544 for the average non-Prime member.
1. 9 out of 10 online shoppers price check using Amazon.
2. In 2019, 82% of American households had Amazon Prime subscriptions.
3. According to marketplacepulse, over 250,000 unique sellers did at least $100,000 in sales on Amazon in 2019.
4. 80% of Amazon sellers have their own website in addition to their Amazon profile.
5. In 2018, the average Prime member spent $2,586 compared to $544 for the average non-Prime member.
08/10/2020
2020 has etched its mark in history. A year of pain, in which the worst pandemic of the modern era has swept across the globe, tragically affecting millions and essentially shutting down the world as we know it. However, revolutionary innovation is almost always bred from great tragedy. The black plague prompted the Renaissance era and the birth of modern medicine. Debate over inoculation during the Boston Smallpox epidemic led to the creation of free press in the United States. The list goes on.
Today's pandemic has challenged, and in many cases, overwhelmed our country's healthcare systems. Doctors, nurses, and medical infrastructure have been overworked with spikes in cases. It's clear that there must be changes moving forward, for the sake of patients, doctors, and other medical professionals.
The pandemic will undoubtedly breed a technological revolution in the healthcare sector. Access to patient records, prescription visits, well visits, patient monitoring, scheduling, payment management, insurance integration, and many other traditionally in-person undertakings will become standardly remote. This will allow doctors to focus their time on patients that need in-person visits, while automating actions that can be done remotely. Infrastructure will also not be overwhelmed.
Many healthcare institutions are already investing in this future vision. Updating stereotypically outdated websites, hosting platforms, and online presences are helping institutions begin to modernize and get ahead of the impending healthcare revolution. All of this is ultimately helping all players in the healthcare sector: doctors, nurses, administrative staff, and patients.
Today's pandemic has challenged, and in many cases, overwhelmed our country's healthcare systems. Doctors, nurses, and medical infrastructure have been overworked with spikes in cases. It's clear that there must be changes moving forward, for the sake of patients, doctors, and other medical professionals.
The pandemic will undoubtedly breed a technological revolution in the healthcare sector. Access to patient records, prescription visits, well visits, patient monitoring, scheduling, payment management, insurance integration, and many other traditionally in-person undertakings will become standardly remote. This will allow doctors to focus their time on patients that need in-person visits, while automating actions that can be done remotely. Infrastructure will also not be overwhelmed.
Many healthcare institutions are already investing in this future vision. Updating stereotypically outdated websites, hosting platforms, and online presences are helping institutions begin to modernize and get ahead of the impending healthcare revolution. All of this is ultimately helping all players in the healthcare sector: doctors, nurses, administrative staff, and patients.
08/07/2020
The graphic above illustrates the five fastest growing and declining retail brands, based on market value, from 2019-2020. While some of these placements might come as a surprise, here are some factors that have led to each company's rise or fall.
Amazon
The company has invested heavily in India, where eCommerce currently lags behind the world average. Currently, only 1.6% of retail sales within the world's second most populated country come from eCommerce, significantly lower than the world average. With the eCommerce sector projected to increase by $200 billion by 2026, Amazon's investment is already starting to take shape.
Lululemon
In addition to excellent management, Lululemon has found success in its' "buy online, pickup in store" shopping option. Customers are allowed to combine the convenience of shopping from home, while not having to wait for shipping, as orders are ready within an hour of purchase. This model has become very popular and gets customers in their doors, exemplifying an innovative eCommerce solution.
Costco
According to The Motley Fool, "Costco is starting to deliver on the e-commerce side of the business, showing a 17.9% increase in e-commerce revenue over the 6-month period ending March 1. To help the e-commerce growth along, Costco acquired Innovel Solutions in mid-March for $1 billion. Innovel is a logistics company that specializes in storage, transport, and delivery of "big and bulky" items.
Innovel states that the company can reach "90% of the U.S. and Puerto Rico." This enables Costco to more easily deliver large items to customers, which enhances the opportunities for it to sell bulky merchandise. As the United States and Puerto Rico make up 547 of Costco's 786 warehouses in operation, Costco's large item delivery reaches 70% of the customer base."
Under Armour
Under Armour is getting severely outcompeted by Nike and Adidas, both domestically and abroad. The biggest reason for their decline, however, is their difficulties within the direct to consumer online (DTC) space, where sales grew a mere 1% last year. By comparison, Nike's DTC revenues grew 17% in Q4 2019 alone. The race for DTC revenue is on in the sportsware sector, and Under Armour is struggling mightily.
Walgreens
Forbes writes that the Walgreens, "Retail segment, which includes the company's retail sales of prescription drugs, and consumer healthcare products, saw sales decline from $40 billion in 2016 to $39 billion in 2019, and it will likely decline to less than $38 billion in 2022". Similarly to the rest of the decliners, retail sales are down and the company must look to eCommerce in order to stabilize and grow going forward.
08/05/2020
