What makes an e-commerce a success?
What exactly does it take for your site to continuously increase outreach to agglomerate a loyal customer base, improving sales in the long term?
Well, we're not going to lie.
Figuring out how to market your website, generate the right traffic and converting them is much easier said than done. It can take a long time to get your ducks in a row before you see profitable sales. Trust us, it's not about having the lowest prices in the market, and it definitely is not how attractive or alluring your site looks. Amazon is our perfect case in example- it's clear to see that while not the most glamorous site aesthetically, it sure performs.
Today, we pull in the punches and list you 5 unbeatable e-commerce strategies every retailer should be applying if keen to see their web business reach a higher competitive level.
Before we get on, here are some statistics on outreach in Singapore that all retailers should take some time to digest:
- 67% of Millennials and 56% of Gen Xers prefer to shop on online rather than in-store. (Go-globe, 2016)
- Revenue in the "e-Commerce" market amounts to $6894.73m in 2017.
- Revenue is expected to show an annual growth rate (CAGR 2017-2021) of 11.2 % resulting in a market volume of $4513.63m in 2021.
- User penetration is at 64.8 % in 2017 and is expected to hit 80.9 % in 2021.
- The average revenue per user (ARPU) currently amounts to $1448.16.
5 Unbeatable e-Commerce Strategies To Increase Your Retail Outreach & Sales In Singapore
1. Know Which Intelligent Software Solutions Can Bring You Business Advantage
Depending on your store size and the level of control that you need, find the software solutions that provide the most suitable and cost-effective e-commerce solution for your business.
A iFoundries, we integrate all our e-commerce solutions with PayPal and other major payment gateways to handle all your online credit card transactions. You would rather concentrate on selling your wonderful products to the world. Save the hassle of handling security verification and credit card fraud. Click here for a full view of our e-commerce features. On software products, click for list of best business intelligence software in 2017.
2. Have A Professional Content Marketing System
Content Marketing is one of the most effective ways for retail brands to market themselves. In this time, with the explosion of technology the customer is empowered with research ability and chooses only to interact with the content that interests them, as opposed to traditional marketing.
Content marketing can increase your conversion rate to almost 6 times. The average conversion rate of sites with content marketing is 2.9%, compared to the average of sites without a content strategy, 0.5%.
A successful e-commerce business will need professional content marketing and a management system.
We break it the whole process into 5 imperative steps:
- Start with your customers- Develop your buyers' persona, profile your customers
- Understand your sales funnel
- Optimize your content
Read: Content Marketing Vs SEO: Do Local Small Businesses Need Both?
- Distribute your content smartly For a thorough guide, visit our previous article, "The Content Marketing Strategy You Need For Better Retail Business" and learn how to implement it in your e-commerce business.
- Have an advanced Content Management System (CMS)
3. Clean, Easy, Responsive Web Design
A responsive design ensures that your site renders appropriately on all devices and platforms.
Without this type of design, you’re likely to experience a high bounce rate due to poor usability when customers access your site from their mobile devices.
Whether it’s excessive zooming in or zooming out, button sizes that aren’t appropriate for the screen, or other rendering issues, this can be detrimental to the user-experience.
In order to be strategic when reaching your customers, it’s critical that your site be optimized for whatever device they may be using.
Your e-commerce should be optimized with the right design and right technology.
Optimized With The Right Design: Persuasive Web Design Your website should be able to persuade your visitors to perform the actions you want them to (the conversions), which can be actions like signing up your mailing list, making a purchase on the website or making an enquiry to your business immediately.
Optimized With The Right Technology: Responsive Web Design
- Google's mobile ranking factors will not only label your website as "mobile-friendly", but will also use that to determine if your website should rank higher in the search results. Consequently, users will find it easier to get relevant, high quality search results that are optimized for their devices. (Official Google Webmaster Central Blog, 26 Feb 2015)
- "Out of Sight, Out of Mind" – if your website is not designed to be readily accessible via all the different web browsing devices then you are not fully maximizing its potential outreach to your target audience.
- They shouldn't have to tire their fingers completing your super long form. If you want to create pleasant user experiences for all your visitors, then you need to optimize your website with responsive web design.
- Visit your current website now on a mobile device, how mobile-friendly is it?
4. Have A Kicking Email Marketing Strategy
Time and time again, email has proven itself by maintaining as the top converting channels for e-commerce.
An email marketing campaign is still as necessary (if not more), to increase conversion in a customer retention strategy. It is quick to implement but yielding enormous sales and marketing gains for an online business. Building an email list is highly critical and useful for maintaining and building customer relationships; to disseminate product/service information at the right place at the right time through the right emails.
Email Design Tips
Emails are however an exceptionally compelling way to reel in customers. Especially when in the business of e-commerce sales and online transactions, these online messages can really penetrate niche markets that usually would be left unseen.
Check out these design tips to put your e-commerce in the best position. Are you tapping on opportunities that are proven to increase conversions and sales?
- Subject lines are key. Include keywords in them and be creative with them to what will directly appeal to your target audience. Keep them short, straight and simple though.
- Personalise your emails as far as possible. According to a marketing survey, 75% of consumers like it when brands personalize emails with customized messages & offers. E-commerce emails that are personalised are comparatively 29% higher with open rates than non-personalized emails.
- Have a irresistable Call To Action button to an irresitable incentive offer. eg.coupons, product recommendations or free shipping enhances click-through rate.
- Send your email out at an optimal timing to achieve the highest open rate! Trial and test to see which timing and day works best for your product and most relevant to your target market.
- 7 in 10 people say they made use of a coupon or discount from a marketing email in the prior week.
Dynamic Email Retargeting Campaigns
First of all, what is email retargeting? Email retargeting is using the information you already have about your customers to refine the information you send them by email. The way you get that customer information is via a browser cookie, which stores information when a visitor logs onto your site. Busted Tees got 390% ROI on an email retargeting campaign which showed ads to recent shoppers and encouraged them to buy again.
With CRM retargeting, all you need is an email address in order to serve retargeted ads to users. They needn’t visit your website, click on, or even open an email. You can serve retargeted display ads to each and every person on your email list, even if engagement has lapsed. Using your anonymized email list, it’s possible to find those users online and serve them highly relevant, targeted ads.
The primary benefit of CRM retargeting is that it does not require any action on behalf of the user, so long as you have their email address. Both email and CRM retargeting are extremely effective at building multiple touch points with customers and keeping your brand top of mind. The two can even be used in conjunction to drastically improve the reach of email marketing campaigns. (Retargeter, 2013)
Benefits of email retargeting campaigns in a quick summary:
- Make 4X the usual revenue
- Get past customers interested again by reminding them of the value you offer.
- Drive offline action by showing ads that encourage web users to visit your store.
- Improve organic search rank by driving traffic to a particular page.
5. Always Have A Customers’ Review Page
It's all about discussion in this age. Why do we see all major companies and brands ask customers to rate their experience on a product or service on their e-commerce site? Some retailers even offer great incentives in exchange for a customer's feedback. Customers' ratings and reviews cut through all the promotional advertisement noise, with unbiased opinions from actual users who have first hand experienced the product or service. Good reviews and ratings from previous customers bolsters a great brand image and a lack of only results from having a poor digital strategy. Companies should perservere to build ratings and reviews, consistently across all digital channels.
In conclusion, if you’re running an e-commerce store looking to increase conversions, have an infrastructure in place to support your sales and fulfil the needs of your customers.
Learn what are the 7 most pressing e-commerce trends dominating the market in recent and next few years; download our eBook (free) below.
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