Ecommerce offers more opportunities than ever before, but there is also more competition than ever before which is leaving brands competing for customers. Ad spending is resulting in a dwindling return on investment for brands, which has pushed them to promote brand loyalty by prioritizing customer lifetime value. More and more companies are investing in their online communities to reach their customers and increase their consumer retention to battle the ever-increasing cost of advertising in today's world. This is leaving the merchants to spend more and gain less from their digital advertising.
It’s not just about being on the first page of Google anymore. It’s no longer about being on the first page of Google, Facebook, Twitter, Instagram, and so on. And, if you want to be found in these places, you need to have a proper SEO strategy in place or an agency that does the work for you. We are seeing an increase in brands moving to social media as a means of advertising as opposed to your typical google SEO strategy. Social selling has completely changed the game for online merchants offering unique and innovative ways to engage customers in the sales process.
Companies are seeing a bigger shift towards social eCommerce as a means for online shopping. We are seeing a trend with more companies investing in video and live shopping, with it becoming easier to buy and sell goods online. It’s becoming increasingly harder to stay on top in the era of eCommerce. In the age of eCommerce, more and more businesses are opening up online. This is great for them as they can reach a wider audience than before. but it’s also hard to be found by new customers.
“Sales through social media channels around the world are expected to nearly triple by 2025. Although about 30% of internet users in the United States already make purchases directly within social platforms, China is the clear global leader. Almost half of China’s internet users shop on social networks, generating more than 10 times the sales of the United States.”1
Now more than ever merchants are relying on consumer loyalty, and that brand connection to drive their sales. The merchants who continue to build on brand awareness, brand building, and build real connections with their customers will ultimately see the most success in the long term. This process is completely changing the way brands approach their customer relationships. The foundation for sustainable growth is a strong brand. It not only improves the short-term effectiveness of performance marketing but also provides a platform for long-term success.
1. Shopify. (2021, September 27). The Future of Ecommerce. www.Shopify.com. https://www.shopify.com/research/future-of-commerce/future-of-ecommerce#:~:text=Global%20ecommerce%20sales%20are%20expected,ecommerce%20sites%20across%20the%20globe.