Although many eCommerce merchants don’t bother to set New Year’s resolutions, we can’t help but feel they are growing increasingly important with each passing year.
According to a Forrester report, online sales in the U.S. are expected to rise to $500 billion by 2020. If you think the competition is fierce now, imagine how heated the eCommerce industry will be in a few years.
Setting new goals is key to reaching the next level of eCommerce marketing maturity and growing your online store. If you’re not sure which goals to set, here are a few worthy resolutions to consider.
1) Use Remarketing to Combat Abandoned Carts
According to Baymard Institute, the average abandoned shopping cart rate is hovering around 69 percent. If you aren’t doing anything to combat abandoned carts, you’re leaving money on the table.
An effective remarketing strategy is crucial for eCommerce marketers. By sending triggered emails to those who have abandoned their carts, you can increase conversions and recapture lost sales.
To drive more revenue in 2018, optimize your remarketing strategies. Test the timing and frequency of your abandoned cart emails, along with the design and calls to action. By diving deeper into your data, you can make the most of remarketing and drive more sales.
2) Master Social Media Advertising
Becoming a master of social media takes commitment. But with over three billion people using social media around the world, the potential advertising opportunities are worth the effort.
If you aren’t selling on social platforms such as Instagram and Facebook, now is a good time to start. Here are a few ways to drive eCommerce revenue and maximize your ROI on social media:
3) Implement New Technology
It doesn’t matter whether you’re a big box retailer or a small startup — delivering personalized and timely messages is the name of the marketing game these days.
To outperform the competition, your marketing needs to run like a well-oiled machine. Now is the time to begin leveraging marketing automation to streamline your marketing efforts and generate more revenue for your eCommerce store.
Take advantage of free demos that many platforms offer and find what works best for you. This is an investment that can’t be put off if you want to remain competitive in years to come.
4) Get a Head Start on Your Content Calendar
Come January, many eCommerce marketers are still riding that holiday sales revenue high, but don’t become complacent after a strong Q4. To gain a competitive edge in 2018, start planning your content and promotional calendars early.
Create compelling and authoritative content for your audience to make it stand out. While everyone else is lagging on their content curation, you can give audiences a reason to seek out your brand first for the latest industry news and information.
5) Refine the Omnichannel Experience
Today’s tech-savvy consumers have high expectations and demand a seamless shopping experience both online and offline. Is your business prepared to deliver this experience?
Implementing an omnichannel strategy is key to gaining a competitive advantage. If you are already delivering an omnichannel experience, you should still work on improving it in the new year.
Seek out new tools to invest in to refine the user experience. Additionally, break down any remaining barriers in your company and promote data sharing between all departments, from IT to sales.
6) Use Transparent Business Practices
In an age of misinformation and “fake news,” consumers have no tolerance for questionable business practices. They demand full transparency from brands in order to gain their trust. Your audience expects honesty and integrity from your brand. Online companies can make their brand more transparent with these strategies:
You don’t need to wait until the start of the new year to begin improving your online business. Now is the perfect time to act upon your eCommerce New Year’s resolutions and get ahead of the competition in 2018.
Want to see where you currently stack up against your competitors? Check out Springbot’s free eCommerce Scorecard!
Springbot provides advanced eCommerce marketing technology for small to medium-size retailers. We make the overwhelming task of running and tracking multi-channel marketing campaigns ridiculously simple, from e-mail and social marketing, to online ads, Amazon Marketplace and more. The key is Springbot’s integration with Big Commerce, Magento and Shopify to deliver the power of data management, marketing automation and analytics. We then take that information and make data-driven marketing recommendations specifically tailored for your needs.