Has Growth Marketing Become a Stumbling Block for eCommerce?

What does growth marketing mean for the growing and highly competitive eCommerce domain? It means a relentless focus on attracting, engaging, and retaining their customer base. eCommerce marketing is no longer about “traditional” marketing activities like sending out an email blast to all customers or launching an online campaign.

Successful growth marketing is not just about growing your user base – but also about reducing customer churn and increasing lifetime value. For instance, personalization in eCommerce marketing has reduced customer acquisition costs by 50% and improved revenues by 15%.

Despite the industry’s emphasis on digital transformation, the overall success rate continues to lag. While 47% of the companies are yet to get started on their digital transformation, fewer than 30% of the companies have tasted success.

So, what are we doing wrong that is making growth marketing so challenging in the eCommerce domain? Let us discuss 5 leading challenges – and why eCommerce marketing needs to be tightly integrated with digital technologies.

5 Challenges of Growth Marketing in eCommerce

 

  1. Undefined business goals or strategies

A 2020 Digital Marketing report found that nearly half of the companies do not have a clear or well-defined goal (or strategy) from their marketing programs. Besides that, only 12% have a digital marketing strategy that is integrated with their overall marketing plan.

Companies without a clear digital strategy do not have any understanding of what they want to achieve – like acquiring new customers or build loyal relationships with existing ones. Depending on your business goals, effective growth marketing strategies can be developed around key business metrics including customer-centric metrics like acquisition rate and cost, retention, and conversion rate, and lifetime value.

 

  1. Not knowing your online customers.

Personalization is now the new “must-have” experience for online eCommerce customers. Over two-thirds of online shoppers believe retail brands must personalize their offerings, while over 40% of consumers “switch off” when presented with irrelevant information. To deliver a personalized experience, online eCommerce brands must first know and understand their target audience. As pointed out by Ryne Higgins of Peacock Alley, “successful eCommerce companies will be those which can most efficiently market to potential customers on a case-by-case basis.”

While tools like Google Analytics can show the rise (or drop) in website visits, they do not reveal customer sentiments or what they truly feel about your brand. As an eCommerce retailer, identify the right demographics to tap into and identify their needs through their online behavior.

 

  1. Not keeping pace with evolving technology

eCommerce marketing is often unable to keep pace with digital technologies that are determining how online brands connect with customers. An example of this trend is the growth of social media platforms for online shoppers. Going by industry statistics, an estimated one in four American consumers (between the age of 25 and 34) use the “Shop Now” feature in Facebook to make online purchases.

At the same time, 45% of business executives feel their companies do not have the latest technology to achieve digital transformation. eCommerce players need to keep pace with the latest technology trends – such as mobile retail that is projected to reach over $3.5 trillion globally in 2021.

 

  1. Lack of multi-channel integration.

According to 2020 statistics, companies with an effective multi-channel marketing strategy in place were able to retain nearly 90% of their customers. Similarly, customers shopping over multiple marketing channels are found to have a 30% higher lifetime value.

Most often, eCommerce companies operate their digital marketing in multiple channels but fail to integrate those channels to provide a seamless and consistent user experience. Among the many truths of modern-day retail commerce, digital platforms work best when integrated with traditional media channels. This is the reason behind the growth of omnichannel marketing in the eCommerce domain.

 

  1. Lack of optimized analytics

Thanks to the availability of technology, eCommerce businesses are competing to analyze customer data to understand their preferences and buying habits. The 2019 Global Consumer survey reveals some interesting trends in consumer buying trends like:

  • 9% of survey respondents mentioned using voice technology at least once a week when shopping.
  • 61% of consumers do not compare online shops – once they have found a product that they like.
  • 17% of shoppers never purchase from an online retailer if they do not offer free shipping.

Effective analytics can help in driving the right traffic to eCommerce websites based on the right targeting and apt messaging. But eCommerce marketers often struggle to understand which sales channel to tap into to drive their target audience. A robust analytics strategy can help in optimizing website content, social media presence, and the type of campaigns you to run.

 

Why eCommerce needs to integrate their marketing with digital technologies

Effective digital transformation is only possible using the latest digital tools and technologies. With the constant shift in digital technologies and services, online store owners must be conscious of the latest technology trend.

 

The integration of eCommerce marketing with powerful front and backend development, robust customer analytics, and technologically superior platforms can now be leveraged for business benefits like:

  • Designing relevant online campaigns for your target audience
  • Devising the right pricing strategy that is attractive to consumers and works for your business
  • Improving internal operational efficiency through automation
  • Offering personalized services and custom options to consumers based on their interests and buying patterns

 Conclusion

The good news is that most eCommerce retailers realize the importance of growth marketing and how it can drive them towards online retail success. What is missing is a unified and integrated approach to eCommerce marketing that covers digital marketing, customer analytics, and digital technologies. A full-service (or one-stop) technology partner can cover the entire gamut of what your eCommerce marketing requires for succeeding.

 

This is where Ignitiv can play a role with its expertise in eCommerce technologies, customer analytics, and customer experience. Do contact us today to learn more about how we can help in your digital transformation process.

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author: Name of Author     Date:Jun 2,2021

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Ignitiv, a leading eCommerce agency is proud to announce the addition of a new customer, United Hardware. Ignitiv will deliver to United Hardware, a state-of-the-art eCommerce solution powered by Kibo Commerce’s Unified Commerce platform. United Hardware aims to use eCommerce as a driver for, both, business growth and enhancement of customer experience. Once live in Q3 2021, the site will allow customers to get rich product information, check for availability in nearby stores and buy online to pick up in stores. Store managers will also get the flexibility to communicate their offers and promotions.

Doug Audette, CEO of United Hardware, said, “Building a modern personalized eCommerce site is a strategic push to enable our dealer stores to present a better omni-channel experience for our customers”.

Rajib Das, CEO of Ignitiv, added, “With our home improvement industry eCommerce solution built on Kibo, we are delivering, within budget and time the solution that enables United Hardware to execute on growth and customer experience”.

United Hardware Distributing Co. is a dealer-owned corporation based in Plymouth, Minnesota which provides distribution services for about 610 member-owned stores operating under the Hardware Hank trade name.

#unitedhardware #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce

 

Coastal Construction Products Partners With Ignitiv and Kibo to Jumpstart eCommerce Growth

“With this solution, we want to establish and sustain digital leadership in the construction industry." - Tim Lavinder, Director of Digital Strategy at Coastal

CUPERTINO, CALIFORNIA, US, May 28, 2021 /EINPresswire.com/ -- Ignitiv, a leading eCommerce agency, and Kibo, the leader in unified commerce, are announcing that Coastal Construction Products has selected Ignitiv and Kibo to jumpstart their B2B Commerce growth with Kibo’s Unified Commerce Platform. Coastal’s B2B Commerce solution will combine unified omnichannel B2C-like experiences with streamlined B2B processes. Coastal’s business customers will get personalized product information, rich associated content, real-time inventory updates, customer and job-specific pricing, and the ability to order quickly and in a streamlined manner – all leading to a superior experience.

Coastal will also benefit from a seamless integration between Kibo and Prophet21 ERP software using SimpleApps’ REST API.

Tim Lavinder, Director of Digital Strategy at Coastal, said, “With this solution, we want to establish and sustain digital leadership in the construction industry. Our goal is simple - deliver real and unique value to our customers through a tool that puts their needs first.”

“Coastal’s strategy to create unified ecommerce experiences for their customers is the best way forward in our omnichannel world, continually improving performance and process at across every customer touchpoint. We’re excited to partner with Ignitiv and Coastal as part of their integrated, data-driven approach,” said Brian Wilson, COO, Kibo.

“Great mobile-first design that optimizes the customer journey, a platform that combines Commerce, Order Management and Personalization, and comprehensive integration to ERP are the three levers we are using to build a platform for growth for Coastal Construction Products,” said Rajib Das, CEO of Ignitiv.

Coastal Construction Products is one of the largest independent distributors of caulking and sealants, waterproofing, concrete repair, and fire protection products in the United States. With roots going back 40 years, Coastal Construction Products has worked with its construction industry customers across the Southeast and the Caribbean, assisting them with quality materials and support.

About Ignitiv
Ignitiv is a full service agency that combines strategy, digital marketing, technology and customer analytics expertise to help craft integrated digital experiences that deliver more customers, more revenues and more profitability. Ignitv is the partner of choice for Home Hardware, Canada Post, United Hardware and Bi-Mart.

About Kibo Commerce

Kibo is the only extensible, unified commerce platform that delivers personalized, omnichannel experiences. The platform combines AI-driven personalization from industry leaders Monetate and Certona, omnichannel commerce for B2C and B2B models, enterprise-grade order management, and AI-driven point of sale. Global clients like Office Depot, Taco Bell, and Patagonia rely on Kibo's API-first, microservices-based architecture to support a wide range of commerce strategies, including headless commerce, that meet high growth goals and customer expectations at a manageable cost of ownership.

#ignitiv #leadtheexperienceeconomy #coastalconstruction #ecommerce #kibocommerce #unifiedcommerceplatform #prophet21

 

United Hardware to fuel eCommerce growth with Ignitiv and Kibo

Ignitiv, a leading eCommerce agency is proud to announce the addition of a new customer, United Hardware. Ignitiv will deliver to United Hardware, a state-of-the-art eCommerce solution powered by Kibo Commerce’s Unified Commerce platform. United Hardware aims to use eCommerce as a driver for, both, business growth and enhancement of customer experience. Once live in Q3 2021, the site will allow customers to get rich product information, check for availability in nearby stores and buy online to pick up in stores. Store managers will also get the flexibility to communicate their offers and promotions.

Doug Audette, CEO of United Hardware, said, “Building a modern personalized eCommerce site is a strategic push to enable our dealer stores to present a better omni-channel experience for our customers”.

Rajib Das, CEO of Ignitiv, added, “With our home improvement industry eCommerce solution built on Kibo, we are delivering, within budget and time the solution that enables United Hardware to execute on growth and customer experience”.

United Hardware Distributing Co. is a dealer-owned corporation based in Plymouth, Minnesota which provides distribution services for about 610 member-owned stores operating under the Hardware Hank trade name.

#unitedhardware #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce