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eCommerce Trends for Digital Marketing in 2020
The eCommerce business is accelerating and to make use of new customer shopping behaviours and meet their increasing demands, marketers must look into several things. While mobile browsing is more extensive than ever, our attention span is less than that of a goldfish. Here’s what to expect working with digital marketing and eCommerce in 2020!
Transformation acceleration is happening – although slowly
The whole eCommerce business is growing fast – but perhaps not as fastnas marketers might expect or believe. In 2017, eCommerce shares were 13-14% of the entire retail sales in Europe. Year by year, worldwide eCommerce growth actually decreases – from 25,6% in 2016 to an estimated 18% by 2021. For larger eCommerce businesses, the growth is a mere average of 3-5% every year.
Brick-and-mortar stores are believed to still have as much as the 82,5% share of retail sales. The total number of worldwide digital shoppers amount to almost 2 billion in 2019-2020, and it continues to grow.
We have less attention span than a goldfish
The human attention span is decreasing, year by year. In 2012, internet content had our attention for 12 seconds – and by 2019, it’s even less than 9 seconds – the average attention span of a goldfish. 53% of users will exit a mobile site if the page takes more than 3 seconds to load, and 19% of viewers will defect from a page in the first 10 seconds.
Marketers and eCommerce need to make an immediate impact – because what customers see in a glance has everything to do with the next decision to leave or navigate further. Filter out any distractions by excluding unnecessary information, and tailor your message to be personal, relevant and straight to-point to be able to cut through. And keep in mind that people are always urging to move on to the next thing – make sure you offer it!
Ecommerces should focus on mobile conversion
Mobile traffic has surpassed desktop traffic – but still, most customers complete their purchases through a computer rather than their mobile phone. Conversion rates in mobile are just 1,7% compared to over 4% on desktop. The challenge for eCommerce in 2020 is to take customers from browsing to buying by improving the whole shopping experience. Mobile-first payment options, easily navigated webshops, smarter conversion points on products pages and tailored recommended content are just some improvements to get the customer to complete a purchase right away.
At the same time, there’s still a gap between the number of time users spend on mobile and how much marketers spend on advertising here – giving a large opportunity to focus on increasing and customizing mobile advertising to your users.
The right traffic is the fast track to making a profit – and you can buy it
Conversion rates won’t increase just because you are driving more traffic to your webshop or website. In 2020, you have to ensure the right users are receiving your message right from the start, through relevant targeting with Google Ads, for example. By using the right keywords and ways of advertising, you can choose what users will constitute the majority of your traffic. Google Shopping, for example, is a great way of reaching new customers, top-funnel users that are quite difficult to attract – but will bring more profit in the long run. Conversion rate optimization through A/B-testing is a way of keeping your valuable traffic, and email offers are great for retention marketing.
Analyze your customer data to get an understanding of their behaviour and the customer journey to keep driving the right users to your site. With help from automated search and ad bidding services, it will be even easier for marketers to focus their money where it makes sense, not wasting it on the wrong traffic.
The longer customer lifetime value the greater revenue
Building long-term relationships, increasing brand trust and customer loyalty is the biggest – and most profitable challenge in digital marketing 2020. As customer acquisition costs (CAC) is constantly increasing, the lifetime value (LTV) of a customer becomes even more important for marketers. 27% of marketers consider it to be the most important ad spending optimization metric, over traffic, impressions or brand awareness.
From Kleiner & Perkins report "Internet trends 2018"
By learning who your most valuable customers are, and how to connect with them, you will have the best conditions to increase your customer lifetime value. With data about their preferences, their behaviours and history with your brand, you can make informed hypotheses on what marketing levers to pull to nurture your relationship. Working to create customer satisfaction will usually make them spend more money over time, and building a customer retention program is essential to increase the overall customer lifetime value.
Read more: How to grow your revenue in eCommerce by considering the customer lifetime value
A lot of eCommerce companies use SEO strategies to bring in customers to their website, and this helps increase their chances of being highlighted when users search for a specific product.
You can catch the entire webinar here.
2020 forecast: 26 connected devices per person
By 2020, there will be an estimated average number of 26 connected devices per person, according to A Guide to the Internet of Things. This includes not only mobile phones, voice assistants or smartwatches, but also trending IoT devices and such as smart home security and toys, just to mention a couple. The more connection points we have, the more business opportunities there are for marketers and eCommerces to reach new users and create long-term relationships with customers.
With intuitive products and solutions that store, process and protect data, we can use these insights to get a better understanding of our customers’ behaviours and improve business processes to create better, tailored experiences and personalized services.
Featured Articles
Top eCommerce Predictions and Trends for 2023
The eCommerce industry is constantly evolving, especially with the advancement in tech in recent years and it can be challenging to keep up with the latest trends and technologies. In this article, we'll be forecasting some of the most exciting eCommerce trends for 2023. Knowing about these trends will help you can stay ahead of the curve and understand what the future holds for online shopping. From continued growth of mobile eCommerce to the rise of social media eCommerce, these are the trends and technologies that are expected to shape the eCommerce landscape in the coming years. Keep reading to learn more!
Google Analytics 4, Privacy and Black Week
Want to move a step ahead in getting closer to your customers? Get hold of Google Analytics 4, a gem for all businesses.
The e-commerce universe is now prepping up for the year’s extravagant fancy sale i.e., Black Week! This is where your privacy game will come into play while customers would be busy browsing lakhs of websites during this shopping spree.
Let us learn more about Google Analytics 4 and Privacy in this blog to accelerate your revenue safely.
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To look into the future, let us peep into the past once. TikTok earlier was loaded with content focused on dancing and lip-syncing videos inclined more towards an uprising for polished platforms and enabling easy access and non-positionality of content consisting of short videos largely.
Top eCommerce Predictions and Trends for 2023
The eCommerce industry is constantly evolving, especially with the advancement in tech in recent years and it can be challenging to keep up with the latest trends and technologies. In this article, we'll be forecasting some of the most exciting eCommerce trends for 2023. Knowing about these trends will help you can stay ahead of the curve and understand what the future holds for online shopping. From continued growth of mobile eCommerce to the rise of social media eCommerce, these are the trends and technologies that are expected to shape the eCommerce landscape in the coming years. Keep reading to learn more!
All About TikTok SEO 2023
INTRODUCTION
We are in the middle of an ongoing search evolution that is gradually happening! TikTok is arguably becoming a search engine, which has been recently acknowledged by Google too.
Why You Should Get Started with TikTok Ads Today?
Amazon and HBO have spent huge money on TikTok advertisements in the U.S. during the months of January and May 2022, says Statista!
And why not? TikTok reached the “1 billion” count on its daily active users in 2022! Hence, advertising on TikTok is just inescapable!
TikTok Ads are booming because their widely diversified audience has helped brands gain high profits with natural virality.
Create Successful Holiday Ads on Facebook & Instagram
Did you know? According to AdMaven, holiday retail sales have reached a whopping $789.4 billion in the year 2021!
It's the holiday season! Everyone right now is on a shopping spree and this is the time, businesses have to be on their toes. If you are not playing with your Facebook and Instagram right now, you are at a big loss in this game of Holiday Ads!
Let us begin by jumping into some holiday insights for the year 2022. Interestingly, shopkeepers have been receptive to trying out new brands across various niches this time round.
Peak Season 2022
How to Solve Privacy for Marketers & eCommerce?
The privacy-first approach is now the eligibility for a business to sustain itself in the current cutthroat competition. It is believably impractical to process a transaction without publicizing your personal information!
So, let us look for a solution and learn how to solve privacy for marketers & eCommerce in this blog.
Google Analytics 4, Privacy and Black Week
Want to move a step ahead in getting closer to your customers? Get hold of Google Analytics 4, a gem for all businesses.
The e-commerce universe is now prepping up for the year’s extravagant fancy sale i.e., Black Week! This is where your privacy game will come into play while customers would be busy browsing lakhs of websites during this shopping spree.
Let us learn more about Google Analytics 4 and Privacy in this blog to accelerate your revenue safely.
Latest Instagram Updates! [July 2022]
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TikTok Statistics – June 2022
Spoiler Alert: this will be a text and data-heavy blog post!
TikTok is available in over 150 countries, has over 1 billion users, and has been downloaded over 9 million times in the Nordics alone. If your brand’s target audience includes anyone between the ages of 13 and 60, you should be on TikTok right now.