To date, almost every market becomes so competitive since many have taken their businesses online. One google search of a product generates millions of results within less than a second. Many pages and advertisements on the Internet cause a startup to be trampled amidst the sea of businesses that are already out there. In eCommerce, the market is expected to be $4.89 trillion this year (2021) and is projected to grow even more. How can your business stand out?
Here are six ways you can effectively market your eCommerce business this year:
1. Use Special Introductory Promos
According to Baymard Institute, 69.80% of online shopping add items into their cart but are left abandoned due to different causes. Extra costs—such as shipping, taxes, and other fees—is the top reason. This is followed by the account creation requirement and slow delivery. Having these things in mind, you can offer free shipping or promo codes for reduced prices for the first set of customers who purchase your products.
2. Run Contests on Social Media
Running contests on the most used social media sites such as Facebook, Twitter, Instagram, and TikTok is a great way to spread the word about a new product, especially when done the right way. When a product is introduced, many people would still not know about it until they see it on social media. If the post is coupled with a chance to win something, more individuals will engage and share the news with their friends and followers. This can also raise brand awareness, increase engagement, and build a following when you include the following mechanics: follow, like, comment, and share with others.
3. Offer First and Loyal Customers an Exclusive Preview
The first customers are crucial to making your products known. If they are delighted, they will advertise your products to their families, friends, and other networks for free. They will also be your repeat customers, so you should take care of them. This can be done through a special invitation to try your products out and provide feedback. You can also invite them to a pre-launch party. If possible, select a few customers to have a private, in-person gathering. But if circumstances suggest otherwise, you can just give an exclusive online tour, preview, or demo.
4. Share Customer Reviews
According to a study conducted by Heinz Marketing, 92.4% of respondents are more likely to buy a product or avail of service if they have read a trusted review about it. Social media for businesses mean word of mouth done digitally, so you have to take advantage of the first positive reviews that your products have received. You could share screenshots of satisfied customers’ feedback. You could also ask them to leave reviews for others to read. This way, other potential buyers could see and be more convinced since others have tried it and were satisfied.
5. Run Ads
If you are on eCommerce sites, try exploring the advertisement options they offer for a specific price. You can also run ads on Facebook or Google that you can avail of for different prices geared to particular demographics. You can even explore joining an ad marketplace to be discovered by thousands of agencies and advertisers that can help boost engagement to a global scale.
6. Partner with Influencers or Hire Famous Brand Ambassadors
Influencers have a huge following which translates to impressive traffic generation a brand can have. Since everything is accessible online, you can check the audience an influencer engages with. You have to look beyond the numbers since even small influencers can be a great choice if they have high engagements and have built genuine relationships with their followers.
These individuals have an online persona. You have to dive deep into their background and whether you have the same values because they will represent your brand. They also have access to analytics of their viewers so you can determine whether that’s your target market.
The potential of a great product will be crushed if effective marketing strategies are not employed. It would be like putting a crystal shop in the middle of the desert and hope oblivious people come by and order. The solution is simple, and it is found online: use special introductory promos, run social media contests, offer first and loyal customers an exclusive preview, share customers’ reviews, run ads, and partner with influencers/hire famous brand ambassadors. You can use more marketing strategies, but these are the 6 best practices that marketers use to grow businesses in 2021. With the right mindset and strategy, you can thrive amidst tons of competitors.