October 10, 2018
The State (and Future) of Digital Marketplaces
View > engage > click > convert. Repeat.
Nothing else matters to an e-commerce marketer, right? But we all know that sending consumers down this journey is easier said than done. With the growing landscape of e-commerce and e-tail companies in our digital age (and new brick & mortar companies to boot), brands have to find a way to get consumers to pay attention to them and not the competition. For the first time in history, the crowded retail landscape has created an environment where consumers—not brands—are in control. It’s up to brands to not only realize and accept this, but to shift their thinking and approach accordingly.
Now’s the time for e-commerce marketers to evolve beyond (now) common missteps like impersonal batch & blast messaging, audience segmenting based on demographics—not behaviors, and creating a disjointed customer experience through a disjointed use of channels. Guilty? Keep reading.
It’s time to sing (chant?) a new tune. Here are 3 mantras for the modern e-commerce marketer:
Reach is no longer the modern marketer’s challenge; it’s engagement—getting consumers to listen to you and not tune out. This requires becoming extremely consumer-centric—literally learning each consumer’s preferences and behaviors at the individual level and then communicating with them based on that knowledge.
With such specific insights, marketers can personalize messages to consumers, sending them messages with the content they want to see, when they want to see it, and on the channel they want to see it on. Personalizing for both content and context in this sense will allow e-commerce brands to stand out from competing brands that are sending irrelevant and ill-timed messages. This new way of personalization—what we aptly call extreme personalization—directly addresses the engagement problem. Case in point: these days, personalization that’s limited to [First Name, Last Name] won’t impress your consumer…nor improve business results.
Only when e-commerce marketers craft an engagement strategy that considers the 5 Ws of modern marketing—WHO to target, WHAT content to deliver, WHEN to engage, WHERE to engage, and understand WHY the engagement occurs—will they be able to effectively move consumers to the intended goal, e.g. filling up their shopping cart and checking out…perhaps even with no abandoned shopping carts in between. Wouldn’t that be nice!
According to Forrester, consumers spend 126 minutes on their mobile smartphones daily, making for an astounding 30 billion mobile moments every 24 hours. There’s magic happening on these handheld devices, and e-commerce marketers must take advantage by redefining their mobile marketing engagement strategy to keep up with changing times.
First and foremost, they need to understand that mobile is no longer synonymous with just “apps.” Mobile is now an ecosystem of channels. Therefore, it’s critical for e-commerce marketers to shift from viewing mobile as a channel to viewing it as the orchestrator of cross-channel engagement. In-app messages, push notifications, SMS, email, and social messages are all happening on mobile devices, and marketers must play conductor. Why? Consumers are screaming for their experience with a brand across all these channels to be in sync.
This is only the beginning. Learn more about these points and other ways you can become a modern e-commerce marketer (and improve your goal conversions by a whopping 101%!) by checking out our recent webinar with guest Forrester. Simply click the button below!
A Bi-Weekly Newsletter Focused Exclusively on Online Marketplaces