Staying on top of your eCommerce industry is vital to keeping your business competitive. Most eCommerce follow trends that shape their operations. Here are six eCommerce trends that will help you boost your revenue.
Why Follow eCommerce Trends?
The eCommerce industry is often characterized by rapid change. With constantly evolving technologies and consumers with lots of information in their hands, it may be hard to find your footing. Competition is now based on how you reach consumers, how often you appear in their timeline, and how you satisfy their needs. This means following eCommerce trends on technology and service provision to give you a competitive edge.
Ecommerce Trends to Boost Your Revenue
Follow these eCommerce trends to boost your customer satisfaction and revenue.
1. Marketing Personalization
Offering service/product personalization is a great eCommerce marketing tip. Approximately 31 % of internet consumers want help finding the services or products they need and value a personalized shopping experience. Providing unique, individualized offerings can make customers loyal to your brand. For example, a tax filing company can place PPC ads with the keyword “ATO tax auditing” for any customer seeking that kind of service.
2. Chatbots and Video Chats
Chatbots and live video chats are emerging AI-Driven customer care and engagement methods in eCommerce. Customers value quick, personalized customer service. 78% of online customers say the quality of customer service determines whether they’ll come back.
Chatbots help answer some FAQs automatically, which encourages customer engagement. Video chats like interactive demos help keep customers engaged during their initial buying journey. These two customer service methods humanize interactions while giving customers the needed help.
3. Influencer Marketing
Influencer marketing gives brands outreach to a large audience based on the influencer’s following because most influencers are assumed to have a large following. 92% of consumers make purchases based on influencer recommendations. Partnering with influencers helps businesses amplify brand awareness and allows them to gain high trust among their audience, who are consumers. Influencer marketing also reinforces your brand’s reputation among consumers and fosters its credibility, helping the business to grow a loyal brand audience and earn more revenue.
4. Wide Modes of Payment
If you want to earn more revenue from your eCommerce store, you must give customers flexible modes of payment. While your customers will pay for the goods or services online, giving them multiple payment options is important. The common ways to accept payments are:
- Bank transfer
- Wire transfer
- Credit or debit cards
- Online payment methods like PayPal, Stripe, ApplePay, Square, GooglePay, etc.
This allows the customers to pay with whichever mode they’re comfortable with.
5. Buy Now, Pay Later
The concept of ‘buy now, pay later’ (BNPL) trend is expected to continue growing, particularly for more costly or big-ticket items. It helps the business identify consumers who are serious about purchasing, allowing their sales teams to nurture the leads. Consumers also get a sense of care from the business and the comfort of paying for the items later.
6. Content Repurposing
eCommerce is about content publishing. Businesses produce concepts such as product descriptions, features, requirements, reviews, comparisons, blogs, articles, and videos to inform customers, engage them and encourage them to purchase. You can repurpose the content to get more traffic to your website and increase its visibility.
For example, you can turn a blog post into a Facebook post, a YouTube video, a Twitter thread, a short TikTok video, an email, and a product description. This expands the content’s reach and increases traffic to your website, which can increase your revenue.
You can leverage these eCommerce trends to increase your customer base, conversions and revenue. With careful consideration of the trends, your eCommerce business can stand out from your competitors.