Looking to grow your e-commerce business? Hop on these five trends for 2020.
- Entrepreneurs can start an e-commerce website for less than $500, resulting in more online storefronts than ever before.
- Marketers are discovering new ways to repurpose their written content and finding exciting ways to curate new content.
- 67% of the population owns a mobile device, which makes social commerce and progressive web apps necessary in 2020.
- Voice search is growing in popularity, forcing business owners to think about on-site SEO.
Are you a small business owner who wants to prepare your e-commerce website for 2020? If so, you're not alone. The e-commerce market is growing rapidly and shows no sign of letting up. In 2020, it's estimated that online storefronts will sell $4.17 trillion worth of products and services.
We know that this number sounds staggering, and you're wondering how you can ever keep up in the oversaturated world of online retail. It turns out that there are plenty of things you can do to improve your chances of success.
Today we are going to look at five e-commerce trends you should expect in 2020 and explain how you can use these trends to grow your small business.
1. Smart content repurposing
Content marketing is the lifeblood of a good e-commerce website. Consumers want to interact with your business beyond browsing your catalog and completing the checkout process. In fact, most people are hesitant to buy a product from a company that doesn't have a blog.
Your content should entertain or educate your audience. If you have an exceptionally talented writer, you can do both of these things in one piece of content. Due to the numerous platforms available to share content, marketers are making a push towards repurposing old content.
Revisit your blog posts, and your analytics data will tell you which posts were popular and which ones left users feeling bored. Take your most exciting pieces of content and turn them into infographics, videos or podcast discussions. Video content, in particular, has proven useful in virtually every industry. Repurposing your content by turning it into a video and sharing it on social media can yield massive results. Social media videos get 1,200% more shares than their text counterparts. Adding attractive image thumbnails to your content can result in additional likes and shares across all social platforms.
2. Dynamic pricing
Dynamic pricing is going to play a significant role in improving your marketing ROI, as well as your conversion rate. In essence, dynamic pricing is a practice where a business will examine information about its target audience, competitor pricing, and market demand to adjust prices in real-time.
Let's say your competitors decided to increase their price by $50, while demand is slowly rising. A smart business owner will use this opportunity to slightly raise the price to meet the demand while undercutting their competitor's prices. This tactic ends up helping both business owners and consumers.
As a result of businesses trying to compete with each other while making a profit, there's a drive to create products that are both effective and cheap. The result is your product is more affordable, and consumers are more likely to buy something from your e-commerce website if the price is right.
3. Progressive web apps
Progressive web apps (PWAs) are increasingly common in the online retail space. Essentially, a PWA is a website with a mobile-responsive design that's so effective that it resembles an online app that you would normally download from the Google Play Store.
Developers and business owners work together to create a PWA that can satisfy customer needs, regardless of the device they are using. At the same time, the consumer is treated to a visually appealing, responsive website.
There's no mystery as to why more e-commerce retailers are taking this approach. Currently, 66.53% of the global population owns a mobile device. Most people use their smartphones for browsing and online shopping. If a site looks ugly on a mobile device, the user will leave. You've now lost a customer. However, if they come to your website, and they are treated to a professional-looking PWA, they will stick around and browse your product selection.
4. Voice search SEO
Voice search is another trend that's on the rise. Marketers are heavily focused on voice search because many consumers use speech recognition software with their mobile devices and smart home speakers to find products and services through Google. Statistics show that people are using voice search to make online purchases. A staggering 62% of individuals who own smart speakers claim to have bought a product with their device.
There are several ways you can improve the voice search SEO of your website. Traditional SEO is based on what someone might type into Google but optimizing for voice requires you to consider what customers might ask when talking to their Google Assistant or Apple's Siri.
For example, if someone wants to find an affordable summer outfit, they might type "affordable summer outfit" into Google. However, someone with a smart speaker might ask, "Where can I find affordable clothes for summer?" The difference sounds subtle, but the search results associated with each phrase vary drastically.
When you're researching keywords for voice search, think about your sales funnel and what questions a consumer could have, based on their position in the buying cycle. In our previous example, you would find someone in the "discovery" phase. If you want to target consumers that are ready to buy something, you might consider using a long-tail keyword like "How much is a summer floral dress?" This variation resembles something that a consumer might say if they are using a smart speaker.
5. Buying options on social media
E-commerce business owners use social media as a way to share their content and engage with their audience. These platforms also give you the option to upload your catalog to your social media profile, and consumers can buy something from your storefront directly from the application.
This feature has plenty of exciting implications for retailers and can cut multiple steps out of the buying process. Businesses can now create specials that apply to users that make a purchase with their social media profile, which can lead to additional sales. If the consumer has a good experience, they are more likely to visit your official website and buy other products in the future.
Marketing ads to new consumers that promote this buying option can also lead to more followers and user engagement. If you decide to use this technique, make sure you have a dedicated social media team to handle customer inquiries and assist users that have questions before they complete their purchases.
There are more e-commerce retailers than ever before. If you want to succeed in this space, you have to pay attention to the new emerging trends. This already competitive market is expected to grow across all industries in the coming years.
Consumers expect a wide variety of content across various mediums and the ability to find brands that interest them with their smart speakers. Make sure you're making the most of your social media profiles and engage with your customers and show personalized ads with dynamic pricing if you want to increase your revenue and grow your e-commerce business in 2020.