As the waves of the pandemic recede, it is becoming increasingly clear that the post-covid world will be very different from what we once knew. While some businesses will return to their pre-covid state, others will have a new landscape to navigate. The acceleration in e-commerce sales throughout the pandemic means that online retailers are likely to face more competition from a range of new players and have to employ intelligent marketing strategies as they adjust to this new world. A digital marketing agency may be one of the best investments they can make.
Online Marketing Tools
Digital Advertising involves multiple channels, each with its idiosyncrasies. For an e-commerce retailer to maximize the effectiveness of their digital marketing, they will need to understand each of these channels and the tools that are best deployed in this channel.
A digital advertising agency has the necessary tools and the knowledge, and experience to ensure these tools are used to optimize their impact.
For a small or medium-sized e-commerce business handling its digital advertising, these tools come at a considerable cost. Without a digital advertising agency, many e-commerce retailer's access to these tools would be cost-prohibitive for many of these businesses.
Results are Measured
One of the most common problems for those who do not have digital marketing experience is realizing that advertising is only half of the equation. The results matter, and it is vital that the results are measured and evaluated appropriately and the marketing fine-tuned based on these results.
A digital advertising agency will identify the key performance indicators for any marketing initiatives and ensure the correct results are measured and interpreted by an expert who understands their relevance in the real world.
The influx of Big Players
While the big retailers offered e-commerce options before the pandemic, their focus was largely on in-store sales. If anything, the pandemic has illustrated just how lucrative the e-commerce market can be.
Having seen the financial rewards of online sales over the pandemic, large companies are acting to consolidate these gains and keep the momentum moving forward. This means traditional online retailers are likely to face stiffer competition from big players who can more than compete on price. This is going to require a savvy marketing strategy that utilizes their marketing budget to best effect. A digital marketing agency would be money well-spent in terms of focusing on niche markets and maximizing their advertising budget.
Walmart and Online Sales
At the end of the first quarter of 2021, Walmart had seen a year-on-year increase in e-commerce sales of 37%, with their total online sales having doubled over the past two years.
Knowledge of New Platforms
While e-commerce retailers may have some knowledge of the traditional social media platforms, there is a trend by consumers toward larger and less familiar platforms.
Tiktok Leads the Way
While the more traditional players such as Facebook and Instagram have shown growth in their shopping networks of 160% and 189% respectively throughout the pandemic, it is the new players leading the pack, with Tiktok experiencing growth of 553% and Pinterest 356%.
There is enormous potential for e-commerce retailers to capitalize on these new channels and the audience they provide.
However, it is of note that Facebook and Instagram are still out in front when it comes to the percentage of users that make purchases.
The take-home message has huge potential and a growing audience is using these newer platforms, but e-commerce retailers are missing the mark.
With their extensive knowledge of the various shopping apps and platforms, a digital marketing agency is ideally placed to use this knowledge to help e-commerce take advantage of this post-covid trend and maximize the potential the new platforms offer.
Strengthening Brand Trust
It is becoming increasingly apparent in the post-covid world that consumers are demanding a direct relationship with the brand and that the brand shows a connection to the real world. Consumers are looking for brands they can trust, and brands must respond accordingly. This is of fundamental relevance for e-commerce retailers.
In many ways, trust has become the new currency for e-commerce. A recent study has shown that 51% of online consumers rank trust as the determining factor when deciding whether to shop with a brand. Trust is especially relevant for e-commerce retailers in light of past difficulties such as damaged or substandard goods.
Creating a Brand Story
A brand story is key in developing trust. It is more than just a story about where the brand came from; it encompasses the essence of the brand and defines its purpose. Social media is one of the primary mediums for telling this story and beginning to establish trust.
Storytelling is a process fraught with potential pitfalls and having an experienced pilot to help navigate these waters is important. They can help create a compelling message that resonates and engages consumers.
One of the main advantages of a digital advertising agency is they bring fresh ideas to the table. These ideas are based on their experience and knowledge of the industry, meaning they have some weight. Further, having an expert on the team means that the business owner can concentrate on running the business and putting their skills to best use.
The changing landscape of the post-covid world will not be easy, but those e-commerce businesses that can manage to do so successfully have spoils to be shared. Online sales have skyrocketed during the pandemic. While they have tapered off in recent months, the channel is growing fast, with retailers looking to consolidate the gains made during the pandemic. By having an experienced digital marketing agency on the team, an e-commerce business has the best chance of exploiting this opportunity.