It can be said that 2020 was the worst. In fact, I kind of agree with that feeling. However, it is undeniable that the world does not stand still and the future looks bright. In fact, the data shows it is spinning even faster than before, which could actually be a long-lasting blessing.
The numbers for online trading are 10 years of growth in just 90 days. You read that right.
In fact, e-commerce has become so important that the United Nations Conference on Trade and Development (UNCTAD) shows great interest in digital transformation: Areas in which e-commerce potential no longer exists threatens to fall behind .
But what does this mean for digital marketing and SEO agencies?
Well. Here are five trends you should pick up on in the future
1 Ecommerce sales are the highest ever
Due to record-breaking online competition fueled by e-commerce during the pandemic, digital agencies have rocketed e-commerce sales to record highs, and small businesses and startups have reached large audiences from large retailers. ..
Old wholesalers felt the competitive boogeyman on the back of their necks. In addition, they were surprised to find that the monsters were nothing more than a huge new physical store entering the online world in order to survive and devour most of the traditional audience.
Still, the competition turned out to be a blessing. With the rampant pandemic, nearly 150 million new shoppers went online, and online shopping is said to have jumped 10 years from an online shopping perspective.
One of the key takeaways was that brands that didn’t take a holistic or “omni-channel” approach were lagging behind. The retailer went exactly where the audience was. Search engines, social media, mobile, streaming services and even video games of the digital marketing ecosystem by finding ways to reach customers without disrupting your online experience with products and user data. It became a part.
“Brands that do better to make it easier for people to buy their first products are likely to beat brands that have very complex and beautiful stores, but nobody buys from them. I don’t know how to do it. “
Lauren Padelford, General Manager of Shopify Plus
2 market democratization
Keep that in mind. Digital marketers have no real power over the market. The future of retail is constantly being shaped and changed by new consumers.
Some experts say consumers will resume their previous shopping habits after the pandemic. However, 48% of online shoppers say they want to keep shopping online. That means you have to offer exactly what your company demands.
But there is a problem. Large companies struggle to keep up with innovations from SMEs and startups. Many mothers and pop shops have turned personal shopping rituals into virtual experiences, which makes paying much easier, significantly reduces shopping cart abandonment rates and increases conversions. This has lost a lot of its luster as retailers have traditionally tended to implement cutout strategies.
That doesn’t mean big players are doomed to fail. The exact opposite. Many of them learned quickly and are now in control.
For example, we’ve found that one of the biggest challenges ecommerce stores face is shipping and return rates. High returns can be devastating for small businesses. To solve this huge investment in research and development, especially in 3D modeling and augmented reality. Now is the time to try on clothes and see what furniture looks like in the living room before you buy it. This reduces the chance of a return due to the wrong size, model or color and gives large retailers a little rest for the time being.
3 Shipping is no longer “extra”
One of the key elements of an ecommerce equation is fulfillment. Nowadays, people don’t see transportation as a service. It should be free for over 64% of consumers. This has changed the way companies approach consumer travel.
“One of the worst things you can do is make a huge difference between customer expectations and experiences.”
David Wagoner, co-founder of P3 Media
In the beginning, many companies turned their branches into fulfillment centers with automated inventory management and an optimized return process. However, real estate developers across the country are desperately building huge warehouse spaces and turning them into fulfillment centers so the ecommerce business can fulfill orders and win the current last mile race.
By 2020, many companies thought they needed to bring their services closer to their customers. Some offered curb pickup which came in very handy as customers felt they were saving on shipping costs. However, this was quickly questioned by companies offering free shipping.
Everyone knows that shipping will never be free, but the final price must be taken into account. But how do you reduce shipping costs? By using strategically located fulfillment centers.
The demand for warehouse space is so great that industrial real estate developers are willing to pay the higher prices to develop one square meter downtown. Because of this, shipping costs are lower and more and more ecommerce stores are ready to offer free shipping or same day delivery.
4 Branding is more important than ever
The market advantage has made branding more difficult and more prominent.
More than half of Internet transactions take place in unbranded environments such as general product search. After that, you might want to think that branding is secondary or useless. However, competition makes unbranded searches a winning scenario, and more targeted keywords have more conversion potential.
But the data shows that if you really want to drive traffic to your website, branding is more important than ever. Website design is no longer about creating an efficient transactional page for your product. It’s about creating a goal for the buyer.
“Branding is very important to our business. It’s important to have a vision that our clients and customers will see when they visit our facility online. “
Dan Cogan, Founder 1 Digital Agency
The best way to achieve this is with clever social media campaigns, effective UX-centric design, and personalized services. Many companies have established themselves as exclusive carriers for a specific product or have personalized a specific product to integrate their brand. There are many ways to do this. White labeling, exclusive trading, influencer acquisition on Instagram. The hardest part is working with an SEO agency to find the right channel and apply a bespoke marketing strategy.
This enables you to:
5 Retention is better than acquisition
The acquisition costs skyrocketed in 2020. The intensified competition for advertising both in search engines and in social media has led to exorbitantly high advertising costs.
Now the magic word is “retention”. Most merchants and online businesses are realigning their efforts to optimize conversion funnels to generate customer loyalty. Additionally, brands are finding really imaginative ways to reward their most loyal buyers.
The Subscription Model This is one of the great examples of this phenomenon. More and more companies and industries are relying on new sales models instead of one-off transactions with customers. They are currently trying to add value in the form of subscriptions that turn users into subscribers.
And that model doesn’t seem limited to traditional industries like magazines, newspapers, and fitness centers. Now you can see it everywhere. Bakeries and breweries, auto repair shops and car washes, pastry shops, cinemas.
The best part is that customers seem to like the idea. The idea of always offering your favorite products and services is very appealing. For businesses there is a constant source of income that reduces the costs associated with risk management. This is a situation from which both sides benefit, the acquisition costs are reduced and the bond is significantly increased.
Conclusion
These five new trends are real game changers. Initially, there were many fears as companies were forced to close doors and adapt to new rules. But soon our collective will help us find new ways to serve our customers.
And we have to keep adapting. Third-party cookies are expressly terminated. In short, email addresses are again the best way to keep in touch with viewers and send messages straight to your inbox.
The time for customers to search for products is coming to an end. They now have the power to decide where the market should go and companies cannot escape their bidding.
“I think it depends where your customers are and where they’re inspired – and that’s where you get the message across.”
Margo Hayes, Head of TSG, Digital Strategy.
Author: Marcel Casella
Content creator and strategist. I started my career as a freelance and academic writer, but I was passionate about the world of marketing. I have been working for a multinational SEO agency for 6 years and I am currently developing content strategies for companies around the world.
I specialize in blogs, website content, and so on. View full profile ›Show
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