It can be said that 2020 was the worst. In fact, I somehow agree with that sentiment. However, it is undeniable that the world does not stand still and the future looks promising. In fact, the data shows that it’s spinning even faster than before, which could actually be a lasting blessing.
The numbers are for online trading 10 years of growth in just 90 days. You read that right.
In fact, e-commerce has become so important that the United Nations Conference on Trade and Development (UNCTAD) has shown great interest in digital transformation, saying: The areas where the potential of e-commerce is no longer available run the risk of being left behind.
But what does that mean for SEO and digital marketing agencies?
Okay, here are five trends you should be taking in the future
1 ecommerce sales are the highest ever
Due to record online competition driven by e-commerce during the pandemic, digital agencies have seen e-commerce sales skyrocket to record levels, and small stores and startups have reached a large audience from large retailers. ..
Legacy wholesalers felt the competitive Boogeyman breathing down their neck. Furthermore, they were shocked to discover that the monsters were nothing more than a huge brick-and-mortar business that jumped into the online world to survive and devour the majority of the traditional audience.
However, the competition turned out to be a blessing. With the pandemic rampant, nearly 150 million new shoppers went online, and online shopping is said to have taken a 10-year leap from an online shopping perspective.
One of the most important lessons learned was that brands that did not take a holistic or “omnichannel” approach were lagging behind. The retailer was right where the audience was. Search engines, social media, mobile usage, streaming services, and even video games from the digital marketing ecosystem by finding ways to reach customers without disrupting their online experience using products and user data. It became part.
“Brands that are doing a better job of making it easier for people to buy their first products will likely outperform brands that have very complex and beautiful stores, but no one buys from them. I do not know how to do it. “
Lauren Padelford, CEO of Shopify Plus
2 Market democratization
Keep this in mind. Digital marketers have no real power over the market. The future of retail is constantly being shaped and transformed by new consumers.
Some experts say that once the pandemic is over, consumers will resume their previous shopping habits. However, 48% of online shoppers say they intend to continue shopping online. This means that you must provide exactly what your business demands.
But there is a problem. Large companies are struggling to keep up with the innovations brought about by SMEs and start-ups. Many moms and pop stores have turned face-to-face shopping rituals into virtual experiences, making checkout much easier, significantly reducing shopping cart abandonment rates, and increasing conversions. This has lost much of the luster as retailers have traditionally tended to implement cookie cutter strategies.
This does not mean that great players are destined for failure. Exactly the opposite. Many of them learned lessons quickly and are now in control.
For example, we have found that one of the main challenges for eCommerce stores is shipping and return fees. High rates of return can be devastating for small businesses. To solve this huge investment in R&D, especially in 3D modeling and augmented reality … Now that it applies to shopping experiences, you can try on clothes and see what the furniture looks like in the living room before you buy. This reduces the chances of a return due to the wrong size, model or color, and gives large retailers a bit of a break for now.
3 Shipping is no longer “additional”
One of the key elements of the e-commerce equation is compliance. Today, people do not see transportation as a service. For more than 64% of consumers, it should be free. This has changed the way companies approach consumer travel.
“One of the worst things you can do is make a huge difference between customer experience and expectations.”
David Wagoner, Co-Founder of P3 Media
Initially, many companies turned their stores into fulfillment centers with automated inventory management and a simplified returns process. Yet real estate developers across the country are desperately building large storage spaces and turning them into logistics hubs for the e-commerce business to process orders and win the current last mile race.
By 2020, many companies thought they needed to bring their services closer to their customers. Some offered a curbside pickup option, which was very convenient as customers felt they were saving on shipping costs. However, this was quickly challenged by the companies offering free shipping.
Everyone knows that shipping will never be free, but you have to take into account the final price. But how do you reduce shipping costs? Through the use of strategically located logistics centers.
The demand for warehouse space is so high that industrial real estate developers are willing to pay the higher prices associated with developing a square foot downtown. That is why shipping costs are lower and more and more ecommerce stores are willing to offer free shipping or same day delivery.
4 The brand is more important than ever
The market advantage has made the brand more difficult and more prominent.
More than half of online transactions occur in unbranded environments, such as general product search. After that, you may want to think of the mark as secondary or useless. However, the competition makes unbranded searches a winning scenario, and more specific keywords have more conversion potential.
But the data shows that branding is more important than ever today if you really want to drive traffic to your website. Website design is no longer about creating an efficient transactional site for your product. It’s about creating a destination for the buyer.
“The brand is very important to our business. It is important to have a vision that our customers and clients will see when they visit our facilities online. “
Dan Cogan, founder 1 digital agency
The best way to achieve this is through smart social media campaigns, effective UX-centric design, and personalized services. Many companies have established themselves as exclusive carriers for a particular product, or have customized a particular product to incorporate their brand. There are many ways to do this. White labeling, exclusive trading, acquisition of influencers on Instagram. The hardest part is partnering with an SEO agency to find the right channel and apply a personalized marketing strategy.
This allows you:
5 Retention is better than acquisition
Acquisition costs increased in 2020. Intensified competition for advertising on both search engines and social media has led to exorbitantly high bidding costs.
Now the magic word is “Retention”. Most online merchants and businesses are refocusing their efforts to optimize conversion funnels to build customer loyalty. Additionally, brands are finding truly imaginative ways to reward their most loyal shoppers.
The · Subscription model This is one of the great examples of this phenomenon. More companies and industries are moving toward new sales models rather than one-time customer transactions. They are currently trying to add value in the form of subscriptions that convert users into subscribers.
And this model doesn’t seem to be limited to traditional industries like magazines, newspapers, and gyms. Now you can see it everywhere. Bakeries and breweries, auto repair shops and laundries, confectioneries, cinemas.
The best part is that customers seem to like the idea. The idea of always offering your favorite products and services is very attractive. For businesses, there is a constant source of income that reduces the costs associated with risk management. This is a win-win situation for both parties, reducing acquisition costs and significantly increasing retention.
These five new trends are true gamers. Initially, there were many fears as companies were forced to close doors and adapt to the new rules. But soon, our collective will help us find new ways to serve our customers.
And we have to keep adapting. Third-party cookies will be explicitly removed. In short, email addresses are back as the best way to stay in touch with viewers and send messages straight to their inbox.
The era of customers chasing products is coming to an end. They now have the power to decide where the market should go and companies cannot escape their offerings.
“I think it all comes down to where your customers are and where they get inspired, and you get the message out there.”
Margo Hayes, director of TSG, digital strategy.