Online shopping is in a perpetual state of change. Is this the trend of the future? More likely, this is the trend of today and the future. If you want to maintain a competitive advantage against competitors, it’s crucial that you stay on top of industry trends and developments.
Understanding movements in the industry plays an essential role in sustaining a profitable online business. This report is designed to get you up-to-speed on the latest developments in e-commerce and set your company up for success throughout the year.
One-on-One Conversations with Brands
At this point, we’re all familiar with the term, conversational marketing. But what does it really mean? And is it really becoming a key piece to running a successful e-commerce store?
We believe that it is, and in 2020 it’s what consumers will expect from digital brands. There’s no patience for automated responses anymore, consumers want 1:1 conversations with brands, from the comfort of their mobile devices.
Implementing Conversational Marketing
Conversational marketing refers to having 1:1 personal conversations with your customers – meeting the customer where they’re at instead of bringing them to you.
Conversational marketing can take the form of live chat, text messages, Facebook Messenger, 1:1 emails, and a variety of other different forms. The one thing that links them all together is the personal connection between the customer and your brand.
Live Chat Integrations
If you don’t already have a chat function on your site, it’s time to invest in one. Research from 2019 showed that 33 percent of American adult consumers have used online chat to interact with a business in the past 12 months.
Customers don’t have the time to search your site for how to get in contact with you. If they have a question, they want it answered immediately, and live chat windows – whether they’re with a real person, or a bot – can help customers get their questions instantly.
Use Facebook Messenger
Messenger is becoming a great way for brands to connect with customers on social media without having to pay for advertising. If Facebook is one of your primary social media channels, it’s time to set up Messenger live chat functionality. The goal is to engage the customers where they are, not force them to seek you out.
SMS texts have become a great way to keep customers connected to your brand and allow you to personally deliver details about upcoming sales and promotions directly to their phone.
We tend to perceive this approach to conversational marketing as slightly aggressive, but with SMS open rates beating email nearly 5x over, it’s certainly worth trying.
In online shopping, a number of initiatives and features have helped consumers make the transition to online shopping.
Although things like ‘bundles’ and the ability to repeat order household staples provide consumers with convenience online, people are still doing their ‘top-up’ shops in-store, and a lack of competition is leading to stagnation.
The Psychology of Shopping
Success is all about tapping into your shopper’s mindset. Let’s have a look at a few of the principles and behaviors at play.
It is notoriously harder to drive impulse purchases in the online space. There is much more friction in the buying process and a greater opportunity for shoppers to back out after they click ‘add to cart’ to that bag of sweets.
Keying in to Purchase Habits
It’s tough to get exposure for low frequency, low involvement purchases in the online environment because shoppers aren’t even prompted to try new things when they simply ‘copy-paste basket’. Once established, these purchase habits are hard to break.
In some cases, shoppers can be tempted towards product trials through competitive prices, ad repetition, and promotions. However, you must ensure that the sensory experience follows through on the brand or product promise in order to achieve repeat purchase.
The industry can tap into this by turning the choosing, tracking, and delivery of products into an emotional experience. Heart over head - emotions are key to many purchase habits, not reason. It's important to think about how you can create that special feeling so you can tap into the emotional hot buttons to see results or conversions right away.