11 Signs You Need to Revise Your eCommerce Marketing Strategy
It doesn’t matter if you’re a new eCommerce brand or you already have a successful business. What you need to have is a solid eCommerce marketing strategy in order to make/keep your business successful and more profitable. Here are 11 signs you need to revise your eCommerce marketing strategy.
As a matter of fact, e-market is continuously developing day by day. According to statistics of eCommerce growth, the year 2020 promises a 19% increase in global sales. With the development and enlargement of the online marketplace, every business owner faces a challenge to gain new customers. As well as to keep the old customers so that they visit their online stores again.
According to statistics, 81% of buyers emphasise greatly on the brand while making their purchase. They say that trusting a brand is crucial. Since they don’t want to waste money on a useless purchase and on something which is not worth it.
What Does it Mean?
As a matter of fact, possessing a good marketing strategy is a must for every marketer. In comparison to brick and mortar stores, the online marketplace has other approaches. Especially when it comes to brand reputation, loyalty and customer trust.
First and foremost, the base of online stores lies in online marketing. Generally, your customers learn and precept your brand based on your strategies. Additionally, the information you provide and customer experience also add to this. Hence, even a minor marketing error can lead to a serious loss of sales. For instance, the use of mobile phones and gadgets are increasing massively. Therefore, 57% of users will not recommend your business to anyone, if you fail in your mobile-friendly design.
What Do you Need?
Since online marketing plays a key role in promoting your products, services, as well as your brand success. You need to improve your marketing strategy if needed. Firstly, to figure this out, you need to have answers to several questions: The questions lie as follows.
- Does my eCommerce marketing strategy work well?
- Who are my potential customers?
- What changes do I need?
In order to understand this, you need to pay attention to certain vital signs. These vital signs, in turn, will indicate that you need to revise your eCommerce marketing strategies.
I have penned down 11 signs you need to revise your eCommerce marketing strategy.
1. Low Conversion Rates
One of the 11 signs you need to revise your eCommerce marketing strategy is low conversion rates. 70%-90% of visitors will leave your website and will not return for several reasons. Of course, low conversion rates can vary based on your business type. However, your marketing strategies can be on the list of most vital reasons. Further, you receive an enormous amount of data. This data can provide you with information about the low percentage. For instance, it can show you where this low percentage comes from or how does it happen.
Firstly, what you need to do is understand your audience/customers. Since it may so happen that your offer has nothing to do with their requirements or expectations. Besides this, another major factor that can cause low conversion rates is poor navigation. It can also be due to your website optimization. Therefore, optimizing your conversion rate can be an ideal solution for this problem.
2. Wrong Audience
According to Kevin Urrutia of Voy Media Marketing Agency NYC, it is best to keep your customers in mind while selling anything. However, often it so happens that you don’t meet your ideal customers. This is not good as it’s a huge sign of you failing in your marketing strategies. Hence, to attain and maintain a successful business, you need to discover and understand your ideal buyer. As well as the buyer’s requirements.
You may have general information about gender, age and other important factors. However, sometimes these details are not sufficient. Hence, it’s always better to research deeper to better target them. By creating your buyer persona based on data, market segmentation and different marketing tactics. You can provide an ideal solution to this problem. Additionally, this will also help you to meet your customers’ needs and demands.
3. Failure in Targeting
Have you ever experienced a situation when a high-quality product or service is suggested? But, in spite of this, you didn’t manage to reach your customers. Well, it’s common since many marketers face this situation. But why does this happen? Well, this problem arises from different failures. As a matter of fact, brand reachability is connected to your marketing efforts. For example, you may possess a great social media marketing tactic. However, you may fail in your SEO efforts. This can be one of the main reasons for failing in targetting your main audience.
Since 93% of online queries start from a search. You should not limit your marketing strategies within one or two platforms. Extensive reachability will increase the chances of targetting your audience with the proper keywords. Hence, paying close attention to your targeting tactics can bring you high sales.
4. Loss of Potential Customers
Since people like variations and modifications, you need to work harder on your brand. To avoid loss of potential customers, you need to prove that your brand is the best option for them. Once you do this, it will assure them that they need not seek changes in other places. Also, they won’t have to switch to other brands. Marketing experts conduct several surveys on customer loyalty. One of these surveys clearly shows that only 13% of customers claim that they’re loyal to the same brand.
Every brand has its potential buyers and if lost, there are many reasons behind it. The reasons for losing potential buyers can be countless. From poor service to a poor quality product. And from post-buying behaviour to brand reputation. Whatever the reason is, you need to find out the right one and solve it as soon as possible.
5. Less Traffic
Increasing the sales and conversions fully depends upon your website traffic. So, what should you do if you don’t get as much traffic as you want? Firstly, you need to audit your website to find out its weak points.
The top reasons that can cause poor traffic are as follows:
- Irrelevant or outdated keywords
- Broken or bad quality links
- Changes in algorithms and failure in using marketing novelties
- Page Speed and Navigation
6. Improper Attention & Knowledge of the Latest Marketing Trends
Well, you may feel that you have a great marketing tactic. Maybe it was great last year or it might be great after 2 years. But right now it’s not. So what to do in this case? First and foremost, you need to pay great attention to the latest marketing trends. Additionally, you need to give utmost importance to marketing changes such as shifting to iOS platform, which you can execute seamlessly when you learn Swift. Since these factors play a huge role in your brand growth.
You should conduct a competitive analysis to figure out what’s going on in the online marketplace. This will help you in finding out the tactics that your competitors use. In addition to this, you will get to know their strong and weak points. Therefore, it will give you an overall idea to build your business based on future changes.
7. Poor ROI
Poor ROI is a sign of failure in your eCommerce marketing strategy. Your ROI fully depends on your company and its cost structure. To acquire the desired results you need to find out your weak and strong strategies. And then calculate it properly. However, calculating ROI is not as hard as it may seem. The reason is that you only need 2 things for calculating it i.e the cost and benefit. With a simple division of the benefit by the cost of the investment, you receive a percentage of it.
8. Your Brand does not Appear in SERPs
If your customers face trouble in finding your business on the first page of search engines. Then it can lead to a loss in sales. That’s why you need to analyse and find out why your website is not accessible to your customers.
Optimizing your website for SERPs is crucial. Since Google and other search engines try to show the most relevant results. Even a small error can drop your ranking. Hence, you need to fix all the marketing errors. Else, the search algorithms and manual reviews can find them, which can harm your website performance.
9. Less or Bad Reviews
Customer reviews not only play a role for people but for search engines too. As a matter of fact, people trust websites, which have active reviews. They want to know about other peoples experiences about the same product or service. Hence, if you don’t have enough reviews, you need to make changes in some of your tactics.
Firstly, ask people to share their opinion and remind your customers to give their reviews. Secondly, don’t avoid negative reviews if it’s not overdone. Sometimes negative reviews can improve your brand image if you are responsive. Provided you give brief and satisfying answers to complaints.
10. Your Website Fails in Converting Visitors into Sales
If your visitors drop in and out, it is a sign that your website needs some changes or updates. Any website can have JUST visitors, but if the percentage of visitors is high. This means that your website is not attracting people who can become paying customers.
If you want to avoid or get rid of this problem, first you need to find out the reasons. You can do it through surveys or reviews. However, there are important factors that can play a role. These include the following.
- Poor Navigation
- Mobile Friendliness
- Absence of “take action” button
- Lack of Payment Services
- Wrong Targeting
- Poor Website Design
- Lack of Information
These are among the most important factors, which you need to fix if you find them.
11. High Bounce Rate
Your website bounce rate is roughly connected to your website success. However, the first thing is to understand the average bounce rate of your website and compare it to the average normal rates. Some studies show that in the case of most websites it varies from 26% to 70%.
Nowadays 65% of internet users purchase online. This indicates that you have a great potential to gain many customers online and receive massive sales. Since your potential buyers are online, you need to work hard and do everything possible to reach them. Hence, ensure that you revise your eCommerce marketing strategy. All this will work through your marketing efforts, product quality and brand loyalty.
Everything depends on positive user experience. If you’re not reachable to your customers as soon as they need your help. Then your competitors will do so. That’s why you need to take proper care of all your actions and responses. But if you feel that you won’t be able to deliver the desired results to your customers. Then it is better to give your online marketing in the hands of trustworthy and responsible industry professionals. They will help you to achieve your ideal customers and targets. Thus, making your business successful.
Tigran is a marketing and creative content specialist at Smarketa.com with a primary focus on SEO, PPC and customer satisfaction for eCommerce business. Being a true humanist he draws inspiration from the simple things in everyday life. As well as the matters that one comes across on a daily basis. Moreover, he’s doing his best and above all loves to help everyone around.