09 Apr 8 Key Components to your E-Commerce Marketing Strategy
‘Make a great product, and they will come’ has never been less true than in today’s crowded marketplace. For e-commerce businesses, having a watertight marketing strategy is essential in getting your brand noticed and converting visitors into returning customers.
A marketing strategy is something that evolves over time, incorporating the latest techniques and channels. As such, this guide isn’t just for new e-commerce businesses or products. If you feel like your marketing strategy could be working harder, many of the elements below can easily be moulded to suit your business.
With that in mind, here are the eight most important areas that you should include in your e-commerce marketing strategy, as well as ways to measure and refine your processes.
1. Develop a mission statement
A mission statement defines who you are as a business. It’s the first thing that customers will see on your ‘About Us’ page and will define your brand story. Mission statements are particularly useful for larger organisations, or those who work across different sectors, as they provide focus and consistency across different areas. This post from 60-Second Marketer covers how to create a mission statement.
2. Build buyer personas
Buyer personas are fictional, generalised representations of your ideal customer. They help your team to understand and visualise your audience in order to focus marketing efforts towards this demographic.
You can use existing customer data to form personas, as well as interviewing a representative customer group for more in-depth insights. You’ll need information such as demographics, what channels the customer uses and who influences them. Hubspot’s post explains how to create buyer personas in more detail.
3. Engage in competitor analysis
You may know exactly who your competitors are, but take a deeper look at their digital strategies and it can fuel your own marketing initiatives. You can easily find out which competitors rank highest for key search terms. Then there are a number of helpful competitor analysis tools that will give you statistics on web traffic and what channels competitors’ customers are using. Details of their backlink profiles may also give you ideas for your own link building strategy.
4. Set your goals
Now that you have a clearer picture of who your customers are and what your competitors are doing, you should set some measurable goals in your marketing strategy. This part of your plan will be ever-evolving, so it’s important to revisit yours regularly.
You need to set achievable goals which cover all areas of marketing. For example, ask yourself what is an attainable figure for new customer acquisition or engagement on social. You can also audit your current website content and set yourself the target of increasing web traffic by a certain percentage.
5. Produce engaging content
Content works in a number of ways to bolster your e-commerce website, so it’s key to incorporate a content strategy into your overall marketing plan. Firstly, content is a tool for driving traffic to your website through optimised product descriptions and landing pages. Although you may sell products that can be found elsewhere online, it’s important that your content is unique in order to avoid duplication issues.
Another area where content is important is in encouraging conversion through the use of attractive product descriptions and compelling CTAs. A content strategy will cover all channels and content types, integrating them into an overarching plan – from creating a blog of original articles; to driving traffic to your product pages; producing video content for social; or formulating engaging email newsletters.
Content is just one element of your website that will affect conversion. You should make Conversion Rate Optimisation (CRO) a part of your marketing strategy and regularly set aside time to split test any new pages added to your website. Using heatmaps and funnels like the ones from Mouseflow allows you to see where customers are focusing their attention on your site and what journey they take between pages.
You can use this information to improve menu navigation, checkout processes, mobile functionality and more through A/B testing. By changing one element at a time, from wording to imagery and the placement of important information and links, you can quantifiably test what works best.
Another element that has proven CRO results is adding a review function to your website. This user-generated content is trustworthy as well as answering customers’ questions. Plus, to alleviate the common issue of customers leaving things in their cart without checking out you can add a campaign of remarketing, or retargeting, to your strategy. Either email customers to ask if they forgot to checkout or use limited-time display ads reminding people of what they viewed.
7. One-off campaigns
As well as ongoing keyword optimisation to improve your on-page SEO, you’ll also need to plan limited-time campaigns. These often revolve around big events for your company, such as new product launches or upcoming holiday deals.
Sponsored ads on Facebook, Instagram and Twitter are ideal for targeting certain demographics. You pay for a set amount of time, so you can run the campaign from the two weeks leading up to an event or the month before a big holiday.
Another one-off example would be hiring a social influencer to review some of your products and post about them for a short period. Using visual channels like YouTube and Instagram, influencers can demonstrate your product to a well-established following.
8. Retention and analysis
As you add more campaigns to your marketing strategy, remember to rinse all content through your buyer personas (do they fit the target audience?) and your mission statement (does the content align with your beliefs and style?).
You’ll also need to track your efforts and the responses to them – whether through Google Analytics, customer feedback or social media statistics. Analysing engagement and traffic allows you to measure the effectiveness and ROI of each campaign, as well as streamline your efforts for a personalised user experience.
Each e-commerce business is different and will have its own set of strategic goals, which will change over time. Therefore, it’s important for your marketing strategy to be flexible and for you to regularly test different marketing channels and strategies to see which ones are most effective.
Keeping up to date with the latest marketing techniques to use in your strategy can be hard work. For more advice on both tried-and-tested and emerging e-commerce marketing strategies, get in touch with us.