The COVID-19 pandemic has drastically changed our lives, our habits and the business market. Many people are staying at home and maintaining social distance. This has affected our daily activities as well as what we purchase.
The effect on business is undeniable — some industries have grown, while others have experienced devastating losses. But how has the crisis affected e-commerce, and what are the best strategies for e-commerce companies to overcome it?
The Fastest Growing And Declining E-Commerce Product Categories
Consumers' behavior and needs have changed. They are preferring certain products and services over others, and many are giving up nonessential goods. Some companies have had to shut down, but many e-commerce businesses have remained active.
A data analysis conducted by a retail intelligence and software company shows that sales of some e-commerce products are skyrocketing while others have taken a nosedive.
Among the top product categories that are seeing a surge in demand are disposable gloves, bread machines, cough and cold medicine, dishwashing supplies, packaged foods, weight training equipment, pet food, vitamins and toilet paper. The fastest declining product categories include luggage and suitcases, clothes and shoes, swimwear, gym bags, cameras and party and event supplies.
Overcoming The Crisis Through Digital Marketing
To stay in front of the situation, adjust your digital marketing strategy.
1. Make Your PPC Campaigns More Efficient
The first instinct for many marketers might be completely switching off their pay-per-click (PPC) campaigns. But if you rely on these campaigns to bring in most of your customers, pausing them could harm your business. Furthermore, doing that could increase your cost per click (CPC) when you restart your campaign because it will have to pass through a new learning phase. I suggest you keep your PPC campaigns going, but make them more efficient.
As many companies have to cut their online advertising, you could profit from cheaper CPCs and better click-through rates (CTRs). Better CTRs mean that you'll likely have a higher quality score and lower CPCs in the long-term.
That said, take steps to manage your PPC budget more efficiently. You can do that by:
• Focusing on the most requested products and services
• Cutting your budget for keywords related to nonessential products
• Investing in keywords that will lead to more conversions
2. Use Email Marketing To Connect With Consumers
While they've been social distancing, consumers have also been looking for ways to stay connected. You can use email marketing to create connections while supporting your sales:
• Promote products that can help your customers during the crisis, and explain how they can be useful to them.
• Let customers know about pre-order campaigns where they can pay for the product now and receive it later. This allows you to forecast demand and collect money in advance to cover your financial needs.
• Send back-in-stock notifications to those who've signed up for a waiting list to let them know when a product is available again. This will also allow you to build a useful email list for future campaigns.
• Share ideas, products and media that complement your own products and services (for example, games, videos or downloadable products). This can help keep your customers active, engaged and happy while they're at home.
3. Make Useful Contributions On Social Media
As people are spending more time online, their use of social media has increased too. This is a great opportunity to communicate with them in five ways:
• Create customer communities to help them feel more connected.
• Provide them with useful information that can really help them during this period.
• Explain how your product or service can help solve their problems.
• Celebrate people who've been using your products and providing support to others.
• Share entertaining and positive things to help them overcome hard times.
4. Pitch Positive Stories To Journalists
With the pandemic getting so much media coverage, people are craving stories that make them feel happy and hopeful. To help with this, you can pitch positive stories to journalists. Tell them how your company is helping others. Cite funny moments that put a smile on people's faces and offered them a distraction.
These are some ideas to help you adapt your e-commerce digital marketing to the current crisis. What all of these strategies have in common is that they can inspire a creative, proactive and positive mindset that can help you come up with other strategies that suit your specific business.
