This blog is part of a series about how and why retail brands must “earn the customer” – their trust and loyalty – to remain competitive in a digital world. See the first post on "Earn the Customer with Unique Brand Content on Your eCommerce Site".
We get a lot of questions from our eCommerce clients about how to go beyond basic reporting and use analytics more effectively. We find that brands are collecting a lot of data and have a good handle on the basics like site traffic, gross and net sales, average order value (AOV), conversion rates, and ad spend/conversions. However, many of our clients are frustrated that while every vendor/platform they use – Shopify, Google, Facebook, Instagram – offers some level of analytics, it’s limited and they can’t get a clear picture because the numbers are different depending on the source.
Variety is the spice of life. Many eCommerce merchants take this sentiment to heart to keep their customers satisfied, offering multiple styles and features for the products in their stores. However, the different features or variants offered – colors, sizes, widths, etc. – can quickly add up and add unwanted complexity to the shopping experience.
The behavior shift to increased online shopping during the pandemic is no blip. Experts predict that even after life goes back to some sort of “normal,” more consumers will continue to shop online. COVID-19 has had some interesting effects on not only where consumers shop, but which brands they’re purchasing. For example, many consumers who switched brands due to product shortages or low availability may not switch back. This may come as a big shock to well-established, multi-channel brands that have historically benefitted from pre-pandemic shopping habits, relying on store chains and large online platforms to manage customer service and sell their products for them.
There’s no time like the present to launch a new direct-to-consumer (DTC) E-commerce site on Shopify Plus. Site launches and re-platforming are moving to the top of many retailers’ to-do lists as more consumers are suddenly shopping online due to COVID-19 and shelter-in-place orders. An efficient new site can be a smart investment to be able to continue serving your (previously offline) customers. If you already have an E-commerce website, migrating to a more powerful platform like Shopify Plus will reduce or eliminate ongoing costs to maintain and upgrade, and better performance and customer experience will help convert more consumers to purchase.
E-commerce for wholesale is becoming the norm of how to do business. Online B2B sales surpassed $1 trillion for the first time in 2018. Merchants like purchasing directly from brands. It’s more convenient, gives them more control over their orders, and eliminates the payment of commissions to third-party marketplaces. Brands benefit from being able to process orders more cost-effectively, leverage their current fulfillment infrastructure, grow revenue with new channels, reduce sales team costs and find efficiencies, and better manage inventory. If you aren’t selling wholesale online, you probably should consider it. One survey found that 75% of wholesalers, distributors and manufacturers who didn’t have an E-commerce site said they were planning to launch one in the next two years.
Some things change, others stay the same. For example, women are still more likely than men to ask (their voice assistant) for directions. Joking aside, mobile and smart speaker voice assistants are fast becoming a part of everyday life, allowing us to conveniently ask for information like the day’s weather report or commute times, or to more easily multi-task; for example, to adjust the thermostat and play a favorite song while working.
“Automation” sounds cold and detached, but email marketing automation is actually all about thoughtfully nurturing the customer relationship through personalization – albeit on a large scale. Automating emails based on behavioral triggers and real-time data enables you to consistently email many customers at just the right time with just the right message or information. For example, a “welcome” email after someone creates an account, a discount for someone who abandons his/her cart, or a recipe that uses a recently purchased product.
This blog is part of a series about how and why retail brands must “earn the customer” – their trust and loyalty – to remain competitive in a digital world.
Do you own your customer relationships? Or are you the “Hanes” of your vertical, allowing major retailers and/or online marketplaces to call the shots when it comes to connecting with consumers? While a multi-channel retail strategy, including online marketplaces, is key for many brands to effectively reach their audiences, having a branded eCommerce site is critical for capturing and retaining customers as a competitive advantage, particularly as more shopping moves online, in part as a result of the global pandemic.
Why do we buy things we don’t actually need? Emotion plays a big role; purchasing a product can make you feel good about yourself (workout clothes) or that you belong to a community of others who share your values (shoes made from recycled materials). Most of us also like to get a good deal (admit it: getting the most for your money has brought a smile to your face). You can build an emotional connection with your products through brand building and creating compelling lifestyle content. But you also can tap into the power of “good-deal glee” with a smart product bundling strategy.