Recalling when the web wasn’t a dominant force in the business world is becoming more challenging. Ecommerce and digital services have long outperformed their counterparts in high-street retail and entertainment industries.
How has ecommerce affected our business model? How has ecommerce affected the way we market? Let’s first look at the impact of ecommerce on the economy. Then, we can understand why marketing must adapt to digital technologies.
What is eCommerce? How has it impacted the economy?
The ecommerce market has proliferated since the early 2000s. It is only growing faster. Insider Intelligence predicts that US ecommerce sales will surpass $1 trillion by 2022. They expect $5 trillion in ecommerce revenue worldwide.
Online sales became more popular as more businesses could sell their products and services online. As online shopping became more popular, we saw a shift in consumer attitudes.
These changes are evident in the e-commerce global market’s growth. To support new ecommerce needs, there are also advancements in logistics, distribution, and business technology.
Moving Retail Online
Online retail is the most common way to think about ecommerce. Online shopping has become easy, convenient, and safe thanks to Amazon, a consumer giant. Ecommerce has also been a boon for small businesses.
This is partly due to the broader reach of online channels. SMEs can reach a wider audience through social media and other channels, which is cost-effective.
On-Demand Entertainment is on the Rise
Along with ecommerce, digital services, and mobile device usage has increased. Modern consumers expect instant access to entertainment wherever they are.
Online subscriptions have been a considerable success in TV, gaming, and other entertainment. It also used sponsored, promoted, or monetized content from social video apps such as TikTok and YouTube to develop social marketing.
Small Business Opportunities
Small businesses can compete with larger companies by using e-commerce. Small businesses can stand out from the crowd in competitive markets by using intelligent social media strategies, SEO optimization, and other digital marketing techniques.
What’s the impact of Ecommerce on marketing?
Marketing is adaptable. Marketing has seen many changes as ecommerce develops and changed. digital marketing is much more than just banner ads or email campaigns.
Traditional marketing is in decline
Traditional marketing methods are no longer in fashion as digital and e-commerce marketing have grown. However, they have remained completely. Some businesses still make use of direct mail, SMS, sales calls and the old billboard.
New Marketing Channels
Online channels have driven the decline in traditional methods. These channels offer a much wider reach for a lower cost. Particularly social media sites have enabled marketers to communicate with their audience in new and more direct ways.
Efficient Targetting & Customer Data
Customer data is the most important advancement in marketing since the advent of the internet. This area of digital market is still in development, as new technologies such data analytics drive marketing insight.
Customer feedback was a common feature of the digital age. Traditional marketing surveys were limited in their reach and could not give you the direct opinion of customers. Digital data is more accessible and can also show customer behavior.
By analyzing these behaviors, marketers have discovered the greatest benefits in customer engagement and demographic targeting.
Ecommerce expands a company’s reach, whether it is customer data, global audience or the ability to advertise directly to a customer’s mobile. This extends your marketing reach. Your ability to target specific users and user groups grows as your reach expands.
Ecommerce Areas & Their Digital Marketing Strategies
Although digital marketing and ecommerce may be related, they are not the same. Digital marketing evolved alongside ecommerce. It is more accurate to say so. Even if a business has a very limited online presence, they can still use digital marketing.
Marketing via website-based Ecommerce
Shopify UAE has made it easy for small businesses to have an ecommerce site. These online retailers and others focus on SEO optimization as the main driver of traffic.
SEO optimization refers to the process of increasing your site’s visibility in search engine results. This is a cost-effective method to put your services in front of customers doing general or specific searches within your business area.
Digital marketing continues to be popular with on-site marketing. It can be used on both the top and bottom levels. To generate additional revenue, you can source inbound traffic for your landing pages by placing ads or backlinks on other websites.
E-commerce companies that place a lot of emphasis on their website will make site optimization a top priority. Ecommerce businesses with slow-loading websites are likelier to experience high bounce rates. As your page load times increase from 1 second to 3 seconds, your bounce rate will increase 32%. This means that a strong site performance must support your marketing.
Mobile Ecommerce & Mobile Marketing
Digital marketing also needs to adapt to mobile apps and mobile browsing. Personalized marketing has grown through the use of push notifications and in-app advertising.
Personalization analyzes user behavior and tailors offer and ads to suit their preferences. This is an effective tool to increase ecommerce sales. Research has shown that customers who are more personal with brands are up to 76%.
Customers are choosing to browse on their mobile devices more often, particularly in the younger age group. Web-based E-commerce management must also adapt to this shift. Mobile optimization is as important as e-commerce software sites and their desktop performance.
These sites can also benefit from digital marketing that personalizes their content. Your customer data can be used to personalize your site ads, offers, emails, and other marketing activities.
Social Media Marketing
All industries that deal with consumers can now use social media marketing. Many B2B companies maintain client connections through social media networks like LinkedIn. Social media marketing is more than just setting up an account for your brand and placing ads.
Marketers can use social listening or monitoring to assess how their business is perceived. This indirect method of gathering customer feedback can provide insights into brand awareness and the drivers of satisfaction (or dissatisfaction).
Influencer marketing is where brands collaborate with online personalities. This is also part social media Marketing. Brands target influencers who have a large following or a high-relevance audience.
Customers are increasingly using social media to communicate with brands. Customers prefer to communicate with brands via channels such as Twitter and Facebook.
Customers expect fast responses on social media, often within 24 hours. Social media managers are an asset for both customer service and digital marketing.