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The Indian eCommerce industry is expected to be worth $200 billion by the year 2026. More than 34% of India’s population is on the internet today. Leave these statistics aside, where do you see people buying their phones from? Where do they check the latest television or electronic equipment before buying? Even groceries are bought online these days due to the on-going COVID crisis and this has only accelerated the growth potential of eCommerce in India. Purchasing habits are going to change in the post lockdown era and are well-poised to benefit the eCommerce sector worldwide.
So how do eCommerce businesses become visible to their customers? ECommerce companies use digital marketing as a tool to reach out to their audiences. It is obvious that you will attract customers to your websites and marketplaces by targeting them on the platforms on which they are available. Where are the customers available these days? On average, people spend at least 90 to 120 minutes daily on the internet. Therefore, it makes sense for eCommerce businesses to focus on internet, online users, and popular online platforms via digital marketing.
Benefits of Digital Marketing
Digital marketing campaigns are cost-effective as compared to traditional marketing ways and give more flexibility. These campaigns can be modified or even stopped if not performing well. This is a part of what is called performance marketing and is proving to be very effective.
Digital marketing offers plenty of advantages to eCommerce firms like geo-targeting, search-based advertising or retargeting for unfinished online shopping journeys. So, the chances of reaching the right audience and creating conversions are much higher using digital marketing targeting tools.
Digital Marketing and Increased Revenue
- SEO (Search Engine Optimization) Marketing)
In short, SEO is about increasing the visibility of a website on the search engines results pages (SERPs), organically or without using the promoted route. With better visibility on search engines results, better the chances of getting website traffic are. With better traffic to an eCommerce website, better the chances of customers getting to see its offerings are. If everything has been done right with the website and the offering, it is likely to create more conversions and higher revenue.
- SEM (Search Engine Marketing)
We can combine SEO with SEM (Search Engine Marketing) and also promote our digital marketing campaigns by using tools like PPC (Pay Per Click) along with AdWords search, etc. SEM is useful when organic or the SEO route is extremely competitive. But the purpose of both remains the same – drive more web traffic, show offerings, increase the likelihood of conversions, and generate more business.
- SMM (Social Media Marketing)
When we say that people spend a lot of their time on the internet these days, more than 80% of their time is spent on social media platforms like Facebook, Instagram, Twitter and TikTok. Facebook alone has more than 2.5 billion monthly active users. Similar is the story with other popular social media platforms. With users running into billions and millions, these platforms have become a hot ground of advertising. Various SMM strategies used by companies include promoted pages, promoted advertisements, influencer marketing, direct purchase option from these platforms, etc.
Even before buying a product, people look for reviews, ratings, and opinions about the products not just on the eCommerce websites but also on these platforms including YouTube.
However, social media is not just for increased sales or driving more web traffic but also to create brand awareness and customer engagement. When people have positive interactions with a company on their social media handles, it instantly creates positive brand impressions.
- Email Marketing
Email marketing is one of the oldest techniques in digital marketing and is still very relevant in terms of ROI. Every day we get a lot of emails from eCommerce websites giving us information about their new products and offers. These emails are also based on product search history and product suggestions. Some companies send bulk emails to customers by using the database they already have. The best part about this activity is that it can be automated. The eCommerce companies also send promotional campaigns via email with attention to personalization.
With the rise of digital technologies like smartphones and the internet and their ever-increasing usage, customer behaviour has also undergone drastic changes. Ecommerce companies have no option but to resort to digital marketing. If done right, it can create a loyal customer base to be followed by increased business volume.
For detailed information, you may visit the YRC’s website: www.yourretailcoach.in