Did you know by the year 2040, it’s estimated that 95% of all purchases will be through eCommerce (NASDAQ). Your competition is going to continue to grow every day, and COVID-19 is accelerating this growth. Every company attacks acquisition differently, but it is something that should be approached with both an analytics and customer-first approach that allows for the max ROI possible.
Be Present on Social Media
Being present on social media is incredibly important, not only for developing your brand and consumer trust but for increasing your total conversions. Online stores with a social media presence have an average of 32% more sales than those that don’t (BigCommerce). With that kind of increase in sales, it seems common sense to be active on not only organic social media pages but with social media ads. Be sure to have an analytics lens when looking at ROAs across campaigns and across social platforms.
Listen To Your Customers
Your customers are your most valuable asset as we all know, but you’d surprised at how many companies don’t listen to their asset. Surveys, campaign reporting, and reading online reviews left by your customers are great ways of learning more. Using a combination of qualitative and quantitative data points, you can learn, not only how to acquire your customers more efficiently by learning what they actually care about, but retain your customers as you grow and your catalog expands.
Optimize for New Customers
This one can be tricky considering the given capabilities of the digital platforms but is incredibly important. Your digital campaigns attract both returning and new customers, but within the systems, you are not able to optimize for one or the other. This inherently makes your campaigns less efficient, especially your prospecting campaigns. If you have Shopify, there is an app called Cloop. This app can track new vs returning customers within Facebook and Google ads which is not available within these platforms without the app. You can set your optimization strategy as new or returning customers within Google and Facebook making your budget spend more efficient.
Digital is important and will continue to be a driving force in acquisition, retention, and optimization. Invest resources in this realm, and see your e-commerce company flourish.