As of 2021, global retail e-commerce sales reached $5 trillion. By 2025, that number is predicted to reach $7.4 trillion. That’s almost 50% growth in only four years. The e-commerce industry is, therefore, one of the most profitable business sectors at present.
Yet, e-commerce businesses fail regularly. These businesses have an 80%-90% chance of failing. Nearly 90% of such businesses cease to exist within four months of operation. While there are several reasons why an e-commerce platform or business might fail, poor marketing strategy is one of the main factors.
Why Marketing Is Important for E-Commerce
Marketing is what makes a product successful, and it can mean the difference between a profitable business and an unsuccessful one. Without marketing, customers would never even know about your business—and if they do, they might not understand how your product or service can benefit them.
To create a successful marketing strategy for your e-commerce business, you’ll need to decide what kind of message you want to send out there into the world: who are you talking to? What do they need to know about your product or service? How can you best communicate that information? Fail to do all these, and your business will fail too.
So, here are a few marketing mistakes you must avoid if you want your e-commerce business to be successful:
Not Advertising Fast Delivery
Roughly 62% of e-commerce consumers have experienced late deliveries. According to them, sellers are the ones to blame. However, 80% of retailers believe customers are to blame for such failed or late deliveries.
Efficient delivery is a cornerstone of e-commerce. Customers want their products, and they want them now. When you offer fast, efficient delivery, you give your customers peace of mind that they can expect their order to be delivered on time and in good condition, which boosts customer satisfaction and helps build trust with your company.
Don’t forget to advertise your delivery process. Tell your customers that you work with the best fulfillment centers across the country to ensure fast and efficient delivery. Advertise how experienced and well-trained the people at those fulfillment centers are and why your customers can trust them. Doing so will help customers gain faith in your business.
Not Promoting On TikTok
TikTok has over a billion monthly users, making it the fifth most used social media platform. So, if you’re not promoting your e-commerce platform on TikTok, you’re missing out on appealing to a huge demographic.
TikTok’s audience is highly engaged and receptive to new products and services. They are also very receptive to seeing what other people are doing, so they will be excited by your product offerings.
Promoting on TikTok allows you to interact with consumers in real-time, which is especially important if you are launching a new product or service that requires immediate attention from customers.
TikTok is also the perfect place to promote your e-commerce business because it’s a visual platform. You can post videos that showcase your products in action or create shoppable videos where you show off your products in close-up shots.
Not Making Use of Influencer Marketing
Influencers are a great way to promote your e-commerce business.
Firstly, they have a large following. This means that they have followers who trust them and their opinions. If you can get an influencer to promote your product on Instagram, it will be seen by many more people than if you just posted about it yourself. Also, if the influencer has a good relationship with his or her followers, then those followers might be willing to try something new from someone they trust.
Secondly, influencers are often on social media all day long. So, they can spread your message quickly and easily. They aren’t limited by time constraints like most people are. So, they can share posts talking about your platform throughout the day (if you set up a deal with them that way).
Not Offering Discounts and Sales
Promoting your e-commerce by offering discounts and sales is one of the most effective ways to grow your audience, drive traffic, and increase sales.
It’s no secret that offering discounts and sales is a great way to increase your e-commerce visibility. People are conditioned to associate lower prices with better value—and they’re more likely to buy when they see a discount. If you have a loyal following, they might be more willing to spend more on an item because they trust your platform and know that you’ll deliver quality products every time.
When you offer discounts, it also gives customers a reason to purchase from you instead of another retailer, which helps build loyalty among repeat buyers. Plus, you never know how many new customers might be attracted by the discount.
In conclusion, e-commerce marketing is important because it helps you to increase your sales and improve your business. If you use the right strategy and tactics, then you can attract more customers and keep them coming back for more. Do the opposite, and your business is likely to fail sooner or later.