If you work in the e-commerce or logistics industry, it is no secret that the e-commerce industry has exploded over the past two years. In spite of the world "getting back to normal," e-commerce is continuing to grow at an astounding rate. The growth of e-commerce also leads to increased competition and as competition continues to grow, it is imperative to enter the new year with the best foot forward. It is evident that 2022 will be a record-breaking year for e-commerce, but what will be the key factors? Our list of e-commerce do's and don'ts will help you look critically at your business going into the New Year.
- Do Utilize Stacked Technology
In this industry, technology is your best friend. Utilizing technology to your advantage is the key to success. Stackable technology can include all aspects of your website, point of sale, and logistical system. The technology should be able to seamlessly integrate with your existing systems. By integrating your e-commerce platform, you reduce the chances of errors and streamline your entire process from beginning to end.
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- Don’t Forget Back-end Coding and UI Personalized Shopping
Setting your business apart from other e-commerce businesses requires a high level of personalization. A recent study by Bloomreach indicates that 80% of consumers are more likely to make a purchase from a company offering a personalized experience. With a cookieless world soon to come, creating a personalized experience will be much more difficult. Developing a personalized shopping experience for every customer will require the hiring of a backend developer. A personalized experience may include mentioning the person's name, displaying their past purchases, suggesting products they might like, and even suggesting what they should purchase next based on their past purchases. Offering a custom experience is a great way to make your business stand out from your competitors and take it to the next level.
It is important for consumers to feel connected to brands. The importance of brand loyalty cannot be overstated. It leads to better customer retention, higher profits, and overall better trust with consumers. According to Emarketer, 58.7% of internet users believe that earning rewards and loyalty points is the most valued aspect of the shopping experience. Loyalty programs benefit customers and assure them of your appreciation. Oracle states that 72% of US adults belong to at least one loyalty program. The loyalty of customers drives them to return again and again, and often also encourages them to invite their friends. Bond reports over 70% of consumers are more likely to recommend a brand if it has a good loyalty program. Spending time and money on a loyalty program is a surefire way to increase customer satisfaction.
- Don’t Underestimate Great Customer Service
Good customer service is highly valued in the United States. A recent study by Ameritas found that approximately 70% of people would spend more money with a company with excellent customer service. Additionally, around 97% of customers would recommend a company with excellent customer service. Good or OK customer service is no longer sufficient to attract customers. A company must provide exceptional customer service. Investments in customer service training, representatives, and communication are essential.
As the industry continues to change and evolve, so too does the risk it involves. Every new adaptation brings with it new opportunities for exploitation. For consumers and businesses alike, the risk is a major issue. As e-commerce becomes more personalized, companies collect more and more personal data about each individual consumer. This data becomes extremely valuable to hackers and other businesses. Thus, protecting consumer data is of utmost importance. If you haven't done so already, now is the time to invest in a security that can withstand the continued security risks of the last couple of years. It is inevitable that businesses will be able to access even more information as e-commerce grows. The loss of customer information leads to distrust not just among current customers, but also among potential customers.
- Don’t Sleep on Alternative Ways of Shopping
Many have predicted that 2022 will be the year of voice-activated shopping. Juniper Research, a UK-based research firm, estimates that voice commerce will reach annual revenue of more than $80 billion by 2023, with Smart TVs having the biggest expansion, growing at over 100% every year for the next 5 years. In spite of this sudden shift in focus to voice-automated shopping, mobile commerce (or "m-commerce") and social commerce dominated in the last year and will continue to grow as well. Shopping accessibility via mobile devices isn't a novel concept. Considering that Google is now adopting a mobile-first approach and that social media platforms such as TikTok, Instagram, and Pinterest are shifting their attention to in-app purchases, you need user-friendly methods for consumers to reach your products. Without a doubt, traditional online shopping is successful, but e-commerce businesses now have so many choices to choose from. Don't overlook non-traditional marketing techniques.
The e-commerce industry is expanding rapidly, and there are a variety of tools and strategies that make shopping online easier than ever before. The Covid-19 experience has resulted in a rapid increase in digital spending, so the question now arises: which of these do's and don'ts should be prioritized? In a perfect world, you would carefully consider all of these points. Seeing as we don't live in a perfect world, the best way to determine which projects to prioritize is by examining your data. If more and more of your consumers are buying via mobile or social commerce, then you should devote more attention to alternative shopping platforms. If you are seeing a decrease in return customers then it’s time for you to look at your customer service. Surveying your customer base is a helpful way to figure out what is of importance to them.