The basics to have in place for your online store and brand. What not to miss in your daily tasks. What activities to make an indispensable part of your strategy.
29% of ecomerce businesses fail because they run out of cash, says a recent study. They fail not because their product is not good or because sales are bad. They fail because they don’t manage their cash flow properly to continue working.
Ecommerce is a dynamic business – money moves fast and metrics change daily. Cash flow should be planned and executed carefully to avoid shortages and disruptions of operations. Especially with the coronavirus impact on ecommerce, owners should exercise cash flow discipline to keep the lights on. Data shows it’s possible as determined DTC brands get about 60% of their sales from repeat customers, meaning a stable inflow of cash every month.
The post-purchase experience can often be an afterthought in ecommerce, and yet it’s one of the most valuable opportunities you have to tell your brand’s story.
This is because there are not as many touchpoints where you can interact with customers when compared to brick-and-mortar stores, so it’s important to make the most of what’s available.
An easy win? Customizing your packaging. How your product is presented plays a huge part in brand perception. A study found 40% of online shoppers say branded packaging makes them more likely to recommend a product to friends, while 61% say custom packaging makes the brand seem more high-end.
Coupons are one of the most popular marketing tools used by ecommerce businesses. They drive conversions and customer retention. And they are easy to use.
But are you making the most of coupons? Are you using them in the best possible way?
The problem with coupons is this: giving them out without measure doesn’t help. Coupons are often synonymous with discounts. SALE30OFF, CLEAR50, NEW10 – they are all too familiar. And discounts alone can do more harm than good – reducing your profit margin only to drive sales short-term. You need to measure the impact and give away coupons sparingly.
To use coupons effectively, you should:
Do you wonder what creative campaign to run every time you launch a new product? Do you find your regular marketing efforts not enough for promoting a new product? We know you want to make a splash. You want to create buzz around your newest release. Here are our ideas how to promote your new product to attract old and new customers.
To use color for your marketing goals, you need to understand how color works. Colors mean various things so choosing the right one for your visual, email, etc. that says what you mean can be tricky.
Psychology of color or color symbolism is how colors play on our subconsciousness to trigger certain associations. It is especially important in ecommerce, which heavily depends on visual branding. 85% of people’s buying decisions are influenced by color. This is because they can only see, but not touch or smell or your products. That’s why you should watch the meaning of colors in marketing when creating your visual branding.
We’ll explore the common associations colors trigger so you can find the right colors to use to convey the traits you want your brand to be associated with. Making customers feel or think of s certain thing is called emotional branding. You might already have your logo in certain colors, but you can design your marketing visuals (emails, ads, packaging, collateral, social media images, etc.) and website in colors that make the right impression on potential customers.
We’ll also look at how cross-cultural perceptions of color differ so you use the right colors for your target audience to get the intended idea.
Omnichannel retailers nowadays aim to provide one streamlined experience for their customers. An omnichannel strategy gives retailers the chance to weave conversion opportunities everywhere – which is where their customers are these days.
We’ve all seen a rapid transformation in ecommerce over the last few years. As technology constantly evolves, so does the potential to keep growing and being in more spaces as a retailer – spaces that were not even there just five years ago. If any year has shown us the importance of bringing your brand online, it’s 2020. As you take your brand digital and start taking up more spaces both offline and online, how do you ensure you’re doing it right?