High Performing Ecommerce Marketing Strategies will be described in this post. Since 2015, ASOS has had revenue growth at an average of 22% every year. Not because there is little competition, but rather because a thoughtful ecommerce marketing plan was used. This is what fuels growth for online retailers like ASOS despite the fact that they compete in a crowded industry.
Top 7 High Performing Ecommerce Marketing Strategies For 2023
In this article, you can know about Ecommerce Marketing Strategies here are the details below;
Learn how to establish a strong ecommerce marketing strategy utilizing consumer research and messaging development in this article. You’ll also discover how to use it to identify the marketing strategies that will successfully engage your target market.
What exactly is an ecommerce marketing strategy?
Your e-commerce marketing strategy serves as a road map and overarching vision for how you’ll interact with prospects, reach out to them, and create messaging to convey benefits and establish your brand.
Many marketers make the mistake of mixing together strategies and tactics:
- Your strategy should be primarily research-based (to obtain a deep understanding of client difficulties, desires, and motivators) and serve as your high-level game plan.
- The particular actions you’ll take to interact with clients are known as tactics. One example is posting social media advertisements with a 20% discount code.
- Both are necessary. Customers cannot be reached by a plan on its own. Without a solid strategy, your tactics miss your target audience and are ineffective in communicating your brand’s value propositions.
Effective e-commerce marketing techniques help with:
Coordinating teams (resolving the long-standing marketing/sales gap);
Establishing and evaluating against objectives and KPIs;
Reaching the appropriate target market (rather than just any client who could match);
Achieving channel cohesion and designing an engaging user experience.
How to build an ecommerce marketing strategy
Marketing objectives should guide any marketing plan. Marketing performance cannot be measured or determined by vague, high-level objectives (such as “improve lead generation,” “increase online sales,” or “attract more customers”).
Filter down using the SMART goal-setting process:
- S – Particular
- M = Measureable
- A – Achievable
- R – Related
- T – Time-limited
The SMART framework for “increasing sales” would look like this: “Increase new ecommerce sales by 10% by the end of quarter two.”
Next, link legitimate marketing metrics to each goal. Common illustrations include:
- Order value on average;
- Conversion rate for sales;
- Rate of cart abandonment;
- Cost of acquiring a customer;
- Lifetime value of a client;
- Bounce-back rate
- Rates of click-through;
- Engagement rates for pop-ups;
- Return on Investment (ROI);
- Average daily inventory sales.
The average order value and sales conversion rate, which both have an equal impact on overall sales growth, are two examples of goals that can be tracked by more than one statistic.
After that, your consumer research helps you decide how to go about attaining those objectives.
Engage in effective customer research
Only if you comprehend important customer characteristics will your e-commerce marketing strategy be successful.
Marketers frequently base their tactics on assumptions or fail to identify important needs and wants by conducting too little research.
In truth, you should be determining your consumer personas and their underlying challenges. A common mistake is to develop a client persona in a boardroom founded on how well you believe you understand your clients.
SparkToro’s CEO, Rand Fishkin, puts it this way:
Ecommerce marketing tactics that don’t properly address the needs and challenges of the consumer won’t connect or work.
Although ICPs and consumer personas are popular in marketing circles, they frequently lack adequate customer research.
Conduct customer interviews and ask qualitative, open-ended questions to elicit the core issues that matter to your clients, such as:
- When did it dawn on you that you required a product like ours?
- Have you given any alternatives to purchasing from us thought?
- What qualms or reservations did you have before choosing to purchase from us?
To create marketing messages that resonate, projects like voice of the consumer (VOC) research and buyer intelligence surveys are essential. By doing voice of the customer research, you may rank customer demands in an effective hierarchy and then ask them to define items and issues in their own words.
Perform a competitive analysis to determine how you’ll differentiate
Having access to this more detailed data helps your marketing strategy go well beyond boardroom meetings. Analyze the competition to discover how you’ll stand apart. You are competing in a virtual mall with unlimited aisles where everyone is selling online. Discover what rivals are doing in order to successfully separate yourself if you want to stand out.
Make a list of your main rivals, and then for each, examine:
- Their online existence. What time will they post? What do they publish? Do they use purely organic traffic or do they also run sponsored ads? Do they make use of influencers?
- Their positioning, messaging, and website. In what way do they present themselves? What do they list as the main advantages for customers? Who could be interested in their brand and products?
- Their efforts in content marketing. How do their email marketing efforts look? How do they add value to the lives of their customers?
- Their special deals and campaigns. What draws you in to their advertisements? What’s not? What may convince a customer to pick their goods over yours?
Try the same thing with your own marketing campaigns. Create a Venn diagram for each rival to see where you overlap and where you differ (pay attention to the advantages you provide that they do not). This is another Ecommerce Marketing Strategies. Also check Yakuake Alternatives
Screenshot of a venn diagram with points of parity, difference, and irrelevance (POPs, PODs, and POIs)
Select value propositions that are distinct.
Chris Goward from WiderFunnel provides an example of how to determine which of your value propositions will appeal to potential customers the most while differentiating your product and brand in the image above.
Here, group your value propositions into three groups:
- POPs, or Point of Parity. The benefits that your products provide, which are important to your customers, and which your rivals also provide. They are crucial, but they are not what makes you unique.
- POIs, or Points of Irrelevant. The features of your products’ value propositions that customers don’t care about. They don’t contribute to efficient messaging.
- PODs, or Points of Difference. The benefits that your products provide above those of your competitors that are important to your customers.
The value propositions you should emphasize on your e-commerce website are PODs. They explain to clients why they ought to purchase from you.
Use semiotic analysis to design messaging that resonates
Effective language has more than double the influence on conversion rates as design, according to a study by Unbounce that examined more than 35,000 landing pages. This is another Ecommerce Marketing Strategies.
Screenshot from an Unbounce study demonstrating the estimated influence of copy and design on conversion rate
The precise language you employ in your messaging is what turns readers into customers.
Reverse-engineer effective messages using semiotic analysis (the study of signs and symbols):
- Choose the emotion you want to evoke;
- Select phrases, words, colors, and symbols that express those feelings;
- Include those phrases in your communication.
They utilize phrases like “fresh,” “herbaceous,” and “invigorating” to appeal to the readers’ senses because their “Dirty Scent Collection” is all about bright cleanliness.
Lush’s “Dirty Scent Collection” page as shown in a screenshot
This language, along with a color scheme of cool, calming greens, evokes a feeling of freshness and cleanliness.
Prioritize marketing channels based on customer feedback
The channels to prioritize are determined by the results of your customer research, not by assumptions.
Customers’ preferences might be ascertained by asking them questions like:
- Which social media sites do you regularly use?
- When was the last time you checked your email?
- Where do you turn to when evaluating a new purchase for information?
These responses will serve as a starting point, but further testing and analysis could be necessary to identify the most effective channels. To determine which platform performs best at acquiring leads, you might, for instance, run the same advertisement on both Instagram and TikTok.
Use growth marketing approaches to optimize ecommerce strategies
Focus a lot on testing, research, and optimization by taking a page from growth marketing playbooks. Growth marketing requires conducting a number of focused experiments to identify the most effective marketing strategies (and its subsets, such as design choices and copywriting strategies). The A/B test is this in its most straightforward form. In this instance, MailChimp ran two advertisements side by side, with the right ad doing better than the left. This is another Ecommerce Marketing Strategies.
They now understand that in-situ photographs outperform branded images. Growth marketers, however, would go a step farther and test several alternative in-situ content forms, such as video versus static photos, and copy. Conduct growth experiments to test your ideas after identifying the marketing platforms and messaging that should engage and appeal to consumers through customer research.
Seven effective e-commerce marketing strategies for 2022
Prioritize initiatives that will quickly shift the needle before broader efforts.
Fear of missing out (FOMO) is an effective motivator. Since decades, retailers have used this idea to their advantage by hosting sales that were only available for a certain period of time.
While not the sole strategy for utilizing FOMO in ecommerce marketing, time-limited incentives are beneficial. Consider Booking.com. When there are few rooms available, they make a call to encourage potential clients to act right away. Screenshot of Booking notifying clients of low-cost accommodation availability for a limited-time promotion Boost your efforts and create additional urgency by letting viewers know they’re not the only ones thinking about making a purchase. A screenshot of a store indicating that a product is soon to run out of supply encourages users to hit the Buy button right away.
Use social proof and time-limited offers on social media sites like Facebook and Instagram to spur action. Social media advertising frequently comes down to now or never: either your ad converts or the buyer forgets about you. By limiting promotional offers to merely five days, Koala, an Australian mattress retailer, addresses FOMO in their Facebook advertisements.
2. Segment and Personalize email marketing efforts
Email marketing for online stores is not a “send to all” activity. Segmentation is essential, but marketing automation is critical, especially as your email list expands. Using audience segmentation will ensure that your communications are understood by each category of client.
Create & share content that is appropriate for each audience segment after identifying the distinguishing factors between them. Consider Burrow, an online retailer that specializes in home furnishings. Burrow offers a variety of goods for sale, including sofas, rugs, and bedroom furnishings. They segment and distribute material in accordance using intent indications (such as the product pages a specific client has been browsing).
For instance, this email would be sent to potential clients who have indicated a need for living room furniture. In this instance, they go beyond merely using the names of consumers in the email subject line and offer product recommendations based on that customer’s purchasing behavior. For instance, MCM uses customized emails to remarket products that customers have already explored and to offer upsell and cross-sell suggestions. Also check Odoo Alternatives
However, e-commerce email marketing goes beyond advertising. To boost client retention, it is essential to cultivate the brand-buyer relationship. Consider DAVIDsTEA, which acknowledges customer anniversaries with a bespoke email that summarizes the relationship’s history. Photograph of a DAVIDsTEA email This fosters consumer loyalty by making the receiver feel valued and special.
3. Set Your sights on Google’s Popular Products
Similar to Google Ads, Google Shopping was a paid channel for online retailers to promote new products until 2020. Now that Google Shopping offers free listings (for the most part), it is a realistic strategy for many online retailers of clothing, especially if you can be listed on Google’s Popular Products. This is another Ecommerce Marketing Strategies.
Popular products show up as the top results when buyers use the Google search engine to browse for items like apparel and shoes. Right from the SERP (search engine results page), customers may now make purchases. Screenshot of a Google search for “white shoes,” where the first few results are well-known goods
Although Google doesn’t actively promote how to achieve a top ranking, it is generally accepted that purchase volume, customer feedback, and testimonials are important factors in listing. This is a long-term strategy, similar to SEO (search engine optimization), although Pointy, another Google product, can be used to support it.
Pointy is an e-commerce app and point-of-sale hardware that transmits real-time sales and product data to Google. Based on this data, Pointy informs Google how “popular” each of your products is. A data markup structure on your e-commerce website, as well as direct product uploads, are other recommendations made by Google.
4. Choose influencers based on influence, not audience size
Another effective method for extending your reach and appealing to new customers is influencer marketing. Don’t, however, make the mistake of picking influencers based solely on their audience size. A 5,000-person audience with a clear need for your product is preferable than 20,000 uninterested persons.
Think about Naked Juice UK’s influencer marketing campaign with Danielle Peazer. An image from Danielle Peazer’s Instagram post promoting Naked Juice UK This partnership makes sense. In the health and fitness industry, where Naked Juice UK competes, Peazer has a sizable fan base.
Contrarily, this endeavor between Hublot and Chiara Ferragni doesn’t. An image of Chiara Ferragni’s Instagram post endorsing Hublot There is little evidence to suggest that any of Ferragni’s large audience (more than 27M followers) would be particularly interested in purchasing a watch, especially one priced at $23,000. Also take note of the low level of interest in this post. Prioritize relevance and past performance when selecting influencers (ask for evidence of success in prior campaigns) over audience size.
5. Run retargeting campaigns that convert with personalized discounts
Retargeting, sometimes referred to as remarketing, is a strategy employed by e-commerce companies to convert website visitors into customers. Consider a visitor who browses a number of your products while doing some online purchasing. Maybe they put some things in a shopping cart but decide not to make a purchase.
Your website’s retargeting pixel keeps track of the products they were looking at, and your specialist marketing tools display relevant advertising to them. They might show up in social network feeds or in digital banners on other websites, like the one from Madewell below. This is another Ecommerce Marketing Strategies.
Photo: Madewell tailors their social media remarketing advertising to each user’s online activity
However, retargeting in this manner is ineffective. The consumer already had the option to buy, but she declined. While calling attention to it might persuade a few, it is more beneficial to provide them with a motivation or incentive to purchase.
The simplest implementation of this is a trade discount. This ad from LikeBunny, for model, combines a retargeting strategy with a limited-time discount code, leveraging FOMO to deliver a compelling logic to buy now. Screenshot of Likebunny customizes remarketing ads on social media based on a user’s activity on their site with custom discount They don’t know when a sale will pop up again, so they more suitable act now before it’s too late.
6. Use referral programs to attract new customers and reward your current ones
Make rewards that are appealing to both the referrer and the referee in order to make the most of your referral program opportunities.
Otherwise, you’ll labor to convince anyone to take action. Consider Athleta, a brand of yoga gear for ladies. Athleta’s referral schedule gives its consumer bottom 20% off their next order in their ecommerce store. 20% off on the first order is also given to the referred customer. Screenshot of Athleta referral adsWhen creating a referral transaction program, feel both sides of the “What’s in it for me?” coin.
7. Nurture customer relationships using content marketing
The most profitable ecommerce digital marketing plans go beyond acquiring new customers.Brands that focus on retention & nurturing customer connections win in the long term. This is another Ecommerce Marketing Strategies.
Every improvement that you drive to retention also enhances all of these other things — virality, LTV, payback period. Retention is crucial because it is the cornerstone of all growth, which is why it is king.The best way to maintain customer engagement (without coming across as overly salesy) is to produce educational content pertinent to your product niche.
Consider Monsieur Chaussure, a leather shoe shop in Europe. They provide thorough instructions on how to take care of a wide range of products. Screenshot of Monsieur Chaussure’s page of educational material on how to take care of a variety of products It’s useful and probably uses subtle upselling techniques with a “help us support you” vibe.
The usage of social media for e-commerce can also be utilized to foster partnerships. Take a look at this post from Airbnb, which highlights one of its hotel partners. Screenshot of an Instagram post by Airbnb praising one of its lodging partners Or MADE, a furniture retailer that used influencer marketing to educate consumers by teaming up with a YouTuber to furnish her flat with MADE’s goods.
A YouTuber and Made Company collaborated to transform her flat with MADE’s products, as seen in this screenshot.Content that is clever, persuading, and focused on the customer increases loyalty and retention.
Conclusion
A effective ecommerce marketing plan, conceived and implemented appropriately, may spark tremendous revenue growth. To create message and value propositions that are compelling, firmly establish your approach on thorough customer research. Then, focus on owning a small number of channels and approaches rather than spreading yourself too thin.
