How to Utilize Digital Marketing for E-commerce Business?
The rapid growth of the digital world has changed our lives including the way of business. Instead of a brick-and-mortar business model, buying and selling products and services on online platforms have become a common activity nowadays. Regardless of its nature, a business is still a business. However, just like a brick-and-mortar business, an e-commerce business also requires digital marketing to promote its products and services.
In this article, we will guide you about establishing and promoting your e-commerce business through the means of digital marketing.
What is E-commerce?
E-commerce, or Electronic Commerce, is the practice of buying and selling goods or services through online platforms without having a physical store. The foundation of e-commerce was laid by an English inventor named Michael Aldrich in 1969. The initial stages of e-commerce were dependent upon just emails and telephone. As a result, the evolution of the internet and digital technology has brought the e-commerce business to its glory.
Some of the trending products to sell online are toys, shoes, decorative bottles, GPS navigation systems, pens, pencils, etc. Some of the major platforms for e-commerce business are Amazon, eBay, Alibaba, Walmart, and Shopify.
The rise of E-commerce Business
According to a report by Shopify, the global retail sales of e-commerce for 2021 were estimated at 4.9$ trillion. And according to eMarketer, retail sales would reach up to 6.3$ trillion by the end of 2023. The number of online buyers throughout the globe has reached up to 2.16 billion. The global growth of retail sales in e-commerce over the past few years can be observed in a report by eMarketer.
The annual growth rate of e-commerce sales from 2014 to 2019 is estimated to be an average of 10.44%. But the growth went up to approximately 19% in the year 2020 due to the impact of the Covid-19 pandemic. So, the major contribution in the growth during the pandemic came from food and personal care products
Some of the major drivers for this exponential growth are described as follows.
- Advancement in technology
- Huge surge in the usage of smartphones
- More convenient to buy and sell products without having to leave your comfort zone
- Offers unlimited varieties on one platform
- Can reach out to millions of customers conveniently
- The operational cost of an e-commerce business is very low compared to a brick-and-mortar business.
- Provides a user-friendly platform to manage your business
- Ease of money transaction
- 24/7 availability
The importance of digital marketing for an e-commerce business
More than 60 percent (approximately 5 billion) of Earth’s population is utilizing the facility of the internet. There are more than 2 billion online potential buyers across the globe. And the growth of e-commerce business is growing at an unprecedented rate. People have become accustomed to the luxury of buying products online and having them delivered to their doorstep. Hence, it would be more effective to promote a business through online platforms.
Whether you are selling your product through a conventional store or an online platform, both of the business models require digital marketing for growth. With the help of digital marketing, you can effectively advertise your online product or service to interact with more customers. Among the cluster of online products, how can you be sure that your product would stand out? Only by the tool of digital marketing, you can add value to your products and services. Those who do not embrace the essence of digital marketing can never lead their businesses to their maximum potential.
The process of utilizing digital marketing to grow an e-commerce business is known as e-commerce marketing. It is about attracting the right audience to your product or service and making them recurring customers. After establishing an e-commerce platform for your business, it is crucial to make use of digital marketing to stay in the competition.
Without an effective digital marketing strategy, the chances of your business growth would be slim to none. Some of the major marketing strategies are explained as follows.
Major Marketing Strategies
- Utilize social media to spread your product or service to a large audience.
- Create good content describing your product or service.
- Create a professional website where you can list your products or services and can take orders from visiting clients.
- Harness the art of graphic designing to present your product or service attractively.
- Use animation and videography to demonstrate your product or service in an enchanting way.
- While naming and describing your product, utilize such keywords which would ensure its optimization in search engines.
- Write blogs related to your product or service.
- With the help of Search Engine Optimization (SEO), increase your website traffic. It would ensure you more visiting customers and would help you create a brand.
- Include a FAQ (Frequently Asked Questions) page below your product. It would help the SEO.
- In order to appear on the top of SERP (Search Engine Results Page) in a short amount of time, Search Engine Marketing (SEM) is the only tool to produce effective results.
- SMS and Email marketing may consider being old marketing strategies. But they are still effective and should be applied to reach a large audience.
- By leveraging Artificial Intelligence, you can identify your audience and can convert them into valuable customers. So, it would also help you create a more user-friendly platform for your visitors.
- Retarget your previous customers to let them aware of your latest product or service. It is a strategy to keep them reminded about your products or services.
The evolution of digital technology and the widespread of the internet have risen the e-commerce business to its glory. The covid-19 pandemic has also played its part in boosting the growth of the e-commerce market. That’s why it is taking over the brick-and-mortar business model due to its low operational cost, convenient trade, easy money transaction, all-time availability, and much more. To ensure the growth of the e-commerce business, it is crucial to effectively utilize digital marketing strategies such as search engine optimization, social media marketing, email marketing, content marketing, search engine marketing, etc. For one to compete with the market after establishing an e-commerce platform, leveraging digital marketing is essential