E-Commerce Marketing in the Future
E-commerce continues to grow at an almost mind-numbing pace, with an average annual growth rate of 15%. Double digit growth is expected to continue through 2020, when e-commerce is predicted to hit the $4 trillion mark.
That is a pretty staggering number! If the growth rates sound aggressive to you, let’s lay out what we believe will drive the future of e-commerce marketing.
Mobile, Mobile & More Mobile
It’s no secret that consumers love to shop on their smartphones. Smartphones accounted for almost 30% of all e-commerce traffic in 2014, but only 11.2% in sales. What does this indicate? Consumers feel comfortable checking out items they wish to purchase on their phones, but then complete the transaction on their desktops.
Small screens and poor mobile checkout experience are the driving factors in cart abandonment on smartphones, but adopting responsive web designs optimized for mobile devices will help overcome this.
We expect to see mobile to grow year over year as the experience has less friction for customers and the data predictions confirm this.
The world is your oyster with digital media. It opens up an enormous assortment of possibilities for e-tailers to improve marketing efficiency and message delivery compared to print media.
What will drive growth in this area? The use of more than one form of digital media to spread the message. From social media to PPC to remarketing strategies, putting products in front of customers in multiple ways will drive better conversions.
Content Marketing is (Still) King
Did you know that businesses that implement modern content marketing techniques see improvements in ROI and lower cost per acquisition?
But it’s not simply about rolling out any old content – it’s got to be great content to convert customers. Content marketing is one of the most effective tools in helping e-commerce businesses double conversion rates and build a following on social media.
Emerging Markets Offer Huge Potential
E-commerce growth continues to soar in emerging markets with the rise of internet access and the use of smartphones. The majority of emerging market consumers are making online purchases on mobile devices, rather than fixed-line-based internet. Why? In regions including Asia Pacific, Latin America and Africa, the first web-enabled devices available to the majority of the population is mobile handsets.
In Asia Pacific alone, e-commerce sales are expected to hit the $1 trillion mark in online sales by the end of 2018. So definitely get moving on those emerging markets, as they offer a huge potential for increased sales.
Amazon made its first commercial drone delivery to a customer in the UK – within 13 minutes! With faster, cheaper, and efficient delivery, drones will be a game-changer for ecommerce. Additionally, things like augmented reality will also have a big impact on the online buying experience.
Within marketing we’ll see a ton more technology in AI and machine learning which will help companies handle much more data in an intelligent way. This means many more data-driven decisions can be made with more speed and targeted accuracy.