If you're thinking of starting an online retail company or adding an e-commerce component to your existing business, a solid marketing strategy can set you up for success.
However, marketing strategies for an e-commerce business differ from that of a brick-and-mortar store. There are also additional factors to consider, such as SEO, content marketing, email marketing and social media.
To help build an optimal e-commerce marketing strategy, eight members of Newsweek Expert Forum discussed what entrepreneurs should keep in mind as they adjust their strategy.
1. Consider Tangible ROI
E-commerce is a whole different ball game when it comes to marketing. Long gone are the days when efforts couldn't be quantified. Now, expert marketers know that e-commerce is all about tangible ROI. Entrepreneurs need to acknowledge this too and understand that data measurement that leads to tangible ROI is the only way to market in this era. - Priscila Martinez, The Brand Agency
2. Build a Social Media Presence
Businesses, e-commerce or not, should focus on having brand conversations on social channels as potential customers use these platforms for research. A report by Twitter showed that 92% of consumers actively seek out comments about brands, products or services on social media. The study also found conversation is most impactful early in the purchase journey, proving that social is key for awareness. - Brooke Sellas, B Squared Media, LLC
3. Remember Results Take Time
You will either have success or failure, and it takes time to see results. When we change the direction of our marketing strategy, we always keep in mind that it takes time for new ideas to populate online. - Tammy Sons, Tn Nursery https://www.tnnursery.net
4. Utilize Video Marketing
Some entrepreneurs need to consider using video to sell items in marketing. Video has always been a good option but has been underutilized. However, video channels like QVC have been successful, and now similar marketing videos are merging into e-commerce as an option. Video content hasn't been considered a part of quality content until this past year. - Baruch Labunski, Rank Secure
5. Know Who You Are
Remember who you are and what it means to be an entrepreneur. Generally speaking, an entrepreneur needs to be a fast-paced, innovative risk-taker. Go outside the box to consider something new, clever, simple, essential and consumable to the end users. - Margie Kiesel, Avaneer Health
6. Be Ready to Change Gears at Any Time
What worked yesterday may not work today. In other words, entrepreneurs should be ready to change gears at any time, especially when it comes to e-commerce campaigns. There are new trends and new ideas all the time. Partner with a marketing professional who can adjust strategy accordingly. - Krisztina Veres, Veres Career Consulting
7. Try Content Marketing
Pivot towards traditional content marketing if you're out of ideas. Blog posts and long-form content hold a lot of power, even at 400 words. It makes your users know you're reliable and have something to say besides ad copy for a sales pitch. - Jacob Mathison, Mathison Projects Inc.
8. Find the Right E-commerce Channel
The e-commerce channel you use might not be effective for your business. It is a reality that most entrepreneurs do not want to acknowledge. While specificity is key in e-commerce, the knowledge and skills of people who will use it within your business is also paramount. You can reduce the probability of failure by ensuring you have the right staff to sustain the e-commerce engagement. - Kira Graves, Kira Graves Consulting
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
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