The freshest changes are ever-evolving in e-Commerce marketing. The rapid development of e-commerce advertising platforms has been appreciating a growing consumer base across the trade. As we rapidly approach 2023, we must examine the e-commerce growth strategy and whether it is enough to contend with the competitor’s plans.
The future of the global e-commerce marketplace is here to expand. A marketer must promptly equip their business in preparation with e-commerce marketing tools. Let us uncover the latest eCommerce strategies we must know to implement to remain at the top.
A Predicted Future of E-commerce.
“Total e-commerce revenue is forecasted to hit $4.88 trillion by 2023”.
The outstanding growth can be seen across all modern marketing disciplines. Customer expectations are increasing higher. Current generations have high exposure to e-commerce advertising platforms. Therefore, e-commerce merchants must stay on their toes to get ahead. Hence a clear-cut strategy must be followed by utilizing the tools to suit your business.
In the past decade, the e-commerce market has grown considerably. It has caused a significant impact on the traditional retail market. The pandemic also boosted the e-commerce sector by around $ 187 billion. This trend has set the pace and is here to stay for a considerable time.
The good thing about e-commerce is that consumers and marketers can compare and review the product online. It is a big reason e-commerce growth strategy has shifted from the traditional arena with better e-commerce marketing tools. In 2022 B2B has shown significant growth, preferably in the brick-to-mortar market to avoid long queues.
Top Ten e-commerce Countries.
If we think China and the US are the only two giants in e-commerce markets, we need to have careful introspection. Here are the top ten countries with their average spending figures.
- Australia – $ 20 billion
- Canada – $ 29 billion
- India – $ 30 billion
- France – $ 45 billion
- South Korea – $ 62 billion
- Germany – $ 68 billion
- Japan – $ 78 billion
- UK – $ 83 billion
- United States – $ 500 billion
- China – $ 656 billion
Moreover, countries like India, Indonesia, and South Africa predict an annual forecast of more than a 15 % rise yearly. The global average height will be around 10 percent.
Future Stats Predicted for E-commerce Marketing.
Here are some more stats that are predicted for e-commerce marketing. The predictions are given for 2023 and beyond.
- The e-commerce market of the UK is predicted to grow more than 10 percent post-2023.
- The Indian e-commerce market will be the fastest-growing e-commerce industry in the next five years.
- Considering the e-commerce growth strategy, more than 50 percent of businesses will have omnichannel capabilities.
- Online stores will have 30 percent more sales if they are better e-commerce marketing tools.
- By 2040 more than 90 percent of sales will happen via an e-commerce platform.
- More than 17 percent of retail purchases in the US will happen online in 2023. In addition, the US e-commerce market will cross the one trillion mark by 2024.
- On average, e-commerce advertising platforms will grow over 10 percent globally yearly.
Customer Experience in E-commerce Marketing.
Customer experience plays a vital role in e-commerce growth strategy. Both post-purchase and pre-purchase experiences count when leveraging e-commerce advertising platforms. Hiring a virtual e-commerce manager from a reliable website like Ossisto counts in developing a great user experience.
The key is analyzing your company’s online sales to know what the customers expect from your business. It means having potential user testing techniques and state-of-the-art e-commerce marketing tools. The major areas you should focus on for better user experience are:-
- Your call to action embedding mechanism and easy navigation to these icons.
- The complete length of your checkout process is critical. Too lengthy a process can turn off your users. However, a short checkout time can contradict payment portals’ safe checkout process.
- Information required for the checkout process The information must be minimum but critical to know the authenticity of the user.
- Follow up on the process for your purchase. All e-commerce purchases should be backed by a confirmation email and delivery process.
- The product website design and easy navigation process are essential for enhanced user experience.
E-Commerce Marketing Trends to Watch in 2023.
After analyzing the e-commerce growth and looking at how user experience influences e-commerce, let’s look at trends. Here are the top trends that will dictate e-commerce marketing in the future.
Evolvement of Blockchain.
Due to its undeniable advantages, the blockchain is to quickly uptake the near future. It has become famous in the last couple of years in e-commerce advertising platforms. These technologies are serving real purposeful actions. Blockchain technologies prove authenticity for consumers. It makes cryptocurrencies possible and is currently being used in the marketing industry. It ensures impressions and click-throughs are authentic. As devices become more connected to AI and IoT, marketers must stay on top of how consumers can find the information and capture their interest.
With blockchain technology, user data never physically get transferred, and digital advertisers get their message delivered to the target audience.
2. Visual Search.
Visual search is experimentation has done that allows us to search for information using visuals rather than text. It is changing the face of e-commerce marketing tools and making things simpler. It can be proven that ‘62% of millennials aim visual search over any other new technology’. SEO is highly influencing in promoting the ranks of these searches. It is increasing expectations for speedy results and is one of the essential innovations in the e-commerce space.
This technology helps vendors multiply in numbers and likely adapt to the new search standard. The biggest e-commerce websites have already started implementing the visual search element and are also looking forward to advancing their space in 2023.
3. Rise of Voice Search.
Voice search is another excellent digital researching e-commerce growth strategy. The supporting statistics have been estimated that ‘40% of adults now use voice search at least once daily’. Voice search is next to take the reins over the next few years. By 2023, there are estimated to be 200 billion voice search queries monthly.
Considering the next generation, voice search will become the mainstream for online purchases. Recent research claims that over 50 percent of US online buyers use voice search or related features. Most big brands like Walmart, Amazon, and Alibaba use voice search in their e-commerce platform.
Voice search is becoming popular with users and making online purchases smooth. Users can use this feature to compare, analyze and buy the product by just providing a verbal description. The fact cannot be ignored that the e-commerce growth strategy will demand the inclusion of voice search.
4. Role of Influencers.
Most brands believe in influencers and collaboration to endorse their product. Connecting with the right influencer is essential for e-commerce advertising platforms. It creates the right kind of promotion, bringing high engagement rates with the right audience to your e-commerce platform.
Consumers turn to key opinion leaders, i.e., influencers in a specific niche, to learn about the latest products. Influencers produce relevant content ranging from live streams to articles. These people are boosting the e-commerce market growth and playing an essential role in shaping consumer preferences and driving awareness toward newly launched products.
5. Smarter Exit Intent.
The innovative intent exit technology can be explained as a clever, innovative e-commerce marketing tool. It is designed to help marketers transform and turn their halting websites into paying customers. When set into your e-commerce growth strategy, the technology will track the number of clicks on a particular site.
Smart exit intent is here to survive. Targeting is based on user needs and buying scales. Smart exit aligns with customers’ tastes, lifecycle, and product buying cycles. It explains when a customer will likely abandon the website during the buying cycle. Hence messaging strategy must be built around that journey. With this, consumers will be increasingly more comfortable making large-value purchases.
6. Multi-channel Selling.
Multi-channel selling is a unique approach that advocates a unified buyer purchase experience. It includes e-commerce platforms, open markets, and even offline. Multi-channel e-commerce advertising platforms help sell and promote products on omni-channels.
E-commerce marketing tools must cater to the needs of omnichannel consumers. Multi-channel is about to see diverse popularity in the coming year. For this, the merchant must be available across all the channels shoppers use, including popular social media platforms.
It involves just syncing the inventory with the popular channels and processing the orders accordingly from a uniform location. It helps merchants reach more people, increase visibility, and grow revenue exponentially.
7. Smarter Payment Processing.
Intelligent payment processing involves customers paying their bills via a smart payment portal than a card, cash, or credit/debit card. The payments are secured and governed by government regulations.
Payment processing is a vital stage of the customer journey. It includes awareness and consideration, so finally, the buyer can decide. The long and complicated checkout process makes the shopper abandon their carts before finishing the purchase.
The E-commerce growth strategy advocates using intelligent payment processing to enhance easy customer access. A smoother checkout process with an easy payment option will speed up conversions. Consolidating payments within a single platform is another excellent solution. It manages all payments regardless of currency and reduces payment realization time significantly.
You Can Uplift Your E-commerce Presence with Ossisto.
In the era of conventional marketing, managing brand value was difficult. With an e-commerce advertising platform, handling sales and marketing is relatively easy. It requires attentive eyes for detail and a sharp mind to pitch in the right content at the right time.
There is a lot that brands can do with Ossisto. Suitable content creation, pitching, performance analysis, and messaging are essential for e-commerce marketing.
Ossisto’s e-commerce growth strategy handles most of your marketing tasks. We know the basics and the unique social media needs for business growth. With our e-commerce marketing tools, we do intensive and exhaustive research to build your strong online presence to help your business grow.
How Can Ossisto E-commerce help?
- Creation of Content calendars
- Scheduling posts
- Strategy building
- Drive engagement
- Create Brand Conversion
- Performance reporting
How Does It Work?
Step 1 – Inquire
Get in touch with our solutions consultant to identify your needs. List out points to see if we fit your requirements. If yes, we will send you an agreement and assign a dedicated solution consultant. There is no need to rush into a contract. Once satisfied with our E-marketing consultant, give a partnership commitment.
Step 2 – Evaluate
Evaluate all the pros and cons with our solution consultant. Look at your tasks, tools, and requirements, and be assured how we will help your social media site grow. Our e-commerce marketing tools give you a detailed report of merits and timeframe. We believe in transparency, and there are no hidden costs or false promises.
Step 3 – Placement
Meet the E-commerce marketing team and select the best offer for your needs. Our solution consultant will interview you and help you choose the best based on your requirements.
Step 4 – Kickoff
Get a kickoff call with our e-commerce marketing manager in the presence of a solution consultant. You can set initial goals, communicate your plans, and look forward to success. It is deemed to be the official start of our partnership.
Step 5 – Onboarding
Our solution consultant stays in touch to provide a valuable service and guide you through our foolproof social media onboarding process. Ossisto’s e-commerce advertising platform will keep boosting your brand growth and partner throughout onboarding.
Step 6 – Follow up.
Through our partnership, we advocate a win-win arena for our clients. We are the only agency that works on an e-commerce growth strategy to evaluate our success with the results of our clients. We will follow up to keep ongoing check-ins to support your framework.
Our Other Services
1. Content Writing
We have developed content across industries with specialized blog services. We have a team of top-rated content creators across all niches. With thousands of satisfied customers and top-ranking content on the SERP, we at Ossisto are committed to delivering the best content-writing solutions.
2. Graphic Designing
At Ossisto, we provide comprehensive UI/UX services for websites and e-platforms. Supercharge your creative index with custom illustrations, presentations, digital ads, and graphic motion pictures. Put your brand the best face for a competitive acceleration and create a lasting impact.
3. Business Consulting
We are helping businesses grow across the United States and on four significant continents globally. Ossisto’s company consulting gives you the best business advisory and consultancy in the central business models. We proudly provide the best business consultancy to our clients, who speak volumes of our services.
4. Virtual Assistant
Ossisto’s virtual assistant will handle the tedious tasks and give you a much-needed break. Ossisto’s virtual assistants are trained professionals who make calls, book appointments, and manage accounts. In addition, our virtual assistants are trained to handle all routine tasks.
5. IT and Website
With Ossisto, you get the best It and website services. Whatever site design you need, wherever you are in the world, and whether you are a freelancer or a business owner, we will provide customized websites. Our vision is to enable SMEs to use emerging digital technologies best.
6. Bookkeeping
Bookkeeping involves identifying, classifying, recording, and summarizing significant transactions. Outsourcing accounts with Ossisto keep you legally safe and on track in the fierce business competition. Apart from the legality of financial transactions, we give valuable analysis and help companies plan, decide, and record transactions.
7. Business Support
With Ossisto’s business support services, you get the best telemarketing, business delivery schedule, and logistics analysis. Your company can build an online presence with enhanced customer interaction with our business support.
Conclusion
In many ways, the future of e-commerce advertising platforms is already here. All these trends are massively shifting towards an e-commerce growth strategy. In addition, the digital landscape and collective statistics can be seen in 2023. Advancements in e-commerce yield benefits for consumers and address significant areas such as product-safety concerns and global trade. Economic and social development is also powering the transformational change in e-commerce worldwide.
FAQ’s
What are some of the most recent developments in e-commerce marketing?
A: Personalized and interactive content, social media marketing, influencer marketing, chatbots, and AI-driven marketing are some of the most recent developments in e-commerce marketing.
How can interactive and tailored content enhance my e-commerce marketing?
A: By providing customised information that appeals to your clients, personalised and interactive content can help you forge closer relationships with them. Also, it may aid in boosting conversion and engagement rates.
How will social media marketing affect my online store?
A: By using social media marketing, you may expand your audience, interact with your clients, and increase traffic to your e-commerce website. Additionally, it offers insightful data about consumer behaviour and preferences.
What is influencer marketing, and how might it help my online store?
A: Partnering with social media influencers to market your goods or business is known as influencer marketing. It can assist you in expanding your audience, winning over customers’ trust, and raising brand awareness.
Why should I use chatbots in my e-commerce marketing?
A: AI-powered chatbots are tools that can automate customer care and give customers individualised advice. They can raise client satisfaction and enable you to deliver quicker, more effective service.
How might AI-driven marketing help my online store?
A: AI-driven marketing can be used to improve marketing campaigns, tailor customer suggestions, and better understand consumer behavior and preferences. It can also assist you in finding fresh chances for expansion and enhancing general effectiveness.
