With the start of a brand-new year comes the possibility of exploring the latest business tactics for your e-commerce to flourish.
Several competitors will begin to explore modern trends, to stay in the race for dominance, it’s critical to develop a winning marketing strategy for your business.
Research as per ‘SmartInsights’ suggests that 77% of the marketing professionals think planning and analytics will play a crucial role in digital marketing in 2020.
Here are 5 top key points for ecommerce marketers to look out for in 2020.
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1. Shifting focus onto Asia
With the US market about to reach a saturation point, Asian markets such as China have begun to see a surge in e-commerce sales growth.
The magnitude of the Chinese market is set to hit a trillion dollars in the coming years up until 2022.
E-commerce businesses would do well to go international and enjoy the perks of the Asian market. With lower shipping costs, zero VAT charges, and strategies targeting the locals, it’s increasingly relevant for businesses to shift their growth to Asia.
New businesses have an added benefit of opening stores without any prior investment required for physical infrastructure. Tools like Shopify can help you to create an online store easily.
2. Engage Audience with Live Videos
For e-commerce businesses, customers are an important element to forge relationships with.
Videos that incorporate a dedicated tour that showcase the day-to-day operations of your company can build trust with your audience.
Plenty of social-media platforms such as Facebook, Twitter, Google+, LinkedIn, etc. are ideal environments to connect with your consumers.
Posting videos of staff interaction and warehousing procedures are bound to provide a positive insight on the kind of company you represent.
3. Subscription-based Models Offer Purchasing Flexibility
In 2020, there is a huge predicted growth for subscription-based business models, thanks to businesses that are SaaS enabled.
Alongside SaaS, a new model that has exploded in recent years called the ‘Platform as a Service’ utilize subscription-based models.
Subscription models offer freedom from paying a one-time fee and are trending due to their convenient pricing options that provide optional recurring plans.
4. Creating a Safer Environment for Mobile Users
Information compiled by Wolfgang Digital show that smartphones and tablet users have overtaken desktop users during the 2nd half of 2016.
Over 59% of sessions logged in by users were accounted to be personal devices. Although desktops were still dominating revenue sales, it won’t be long when mobile users dominate the market.
The main cause of concern for smartphone users were safety and privacy, many preferred browsing on their smartphone and making a purchase on their desktops due to beefed up security protocols.
E-commerce markets should concentrate on converting research into sales by researching smartphone devices.
5. Utilizing Chatbots
The marketing strategy took a big turn in 2016 with the introduction of Chatbots. Marketers were shown a glimpse of the technology when Facebook added bots in September 2016 to complete in-app purchases.
The new waves of bots that we can expect in 2017 are built to be smarter and perform tasks without the need of human helpers. Bots can perform functions such as requesting user preferences and performing searches to match the best product available.
Chatbots can also conduct better customer research by studying users and their shopping patterns to provide marketers with a list of products that can be targeted individually.
Customer experience and pricing policies are the main concerns to address in 2020.
As a marketing professional, paying close attention to these areas can transform your e-commerce business into a successful enterprise.
