eCommerce has revolutionized how companies market their products and services. Today, digital marketing gives insight into metrics and key performance indicators like abandoned checkouts, customer retention, and the number of likes and shares. With this data, businesses can refine marketing strategies through data-backed decisions.
This is crucial because marketing is key to businesses succeeding. By adopting the latest data-backed eCommerce marketing strategies, you can get noticed, impress your target market, and nurture your relationship with your customers.
Here are some trends to look into in 2023.
Reducing AI bias in social media marketing
Today, artificial intelligence (AI) solutions are being used to automate social media marketing decisions through data collection and analysis. These technologies are a worthy investment considering 39% of Americans have made purchases on social media, and 90% say they are aware of brands’ social media pages. Moreover, 29% of Black consumers, 27% of Asian consumers, and 21% of Hispanic consumers have bought something on a brand’s website after browsing their social media. With such abundant opportunities for sales conversions among diverse consumers, it’s surprising that there remain AI biases in social media marketing.
These biases occur when data sets for certain demographics are more robust than those for underrepresented demographics. For instance, if women or people of color are not properly represented in your data sets, the resulting marketing strategies are likely to exclude them — and you could be missing out on opportunities for your customer acquisition strategy. To remedy this, you need to use representative training data, which intentionally uses better-represented data sets. You must also constantly evaluate your AI and double-check its accuracy. Analyze different subgroups and determine whether your projections are as well-calculated as they should be. By constantly improving your AI, you can maximize inclusivity and tap into broader markets.
Omnichannel marketing focuses on making the purchasing experience customer-centric at every touchpoint. Rather than trying to occupy as many platforms as possible, an excellent omnichannel marketing strategy creates a seamless purchasing experience across all online and offline channels. With 57% of customers preferring digital channels and 43% preferring non-digital channels, touchpoints like brick-and-mortar stores, websites, and social media must have consistent branding, messaging, and customer service.
Understand how customers discover your brand, what makes them checkout or abandon their cart, and what returning customers want to see. This can help you personalize the shopping experience by reinforcing patterns that lead to sales with incentives like discounts. Have online and offline channels work together by adopting processes like in-person pick-up options or discounts for physical store purchases when you make purchases online. Finally, reduce friction by making customer data available across all channels so you can provide high-quality customer service no matter where clients contact you.
You can increase your brand experience with augmented reality (AR) by providing 3D models of products and services. AR on websites has been shown to improve customer engagement, customer behavior, and sales. One survey even found that AR increases 56% of shoppers’ confidence in product quality, and 61% prefer to shop from retailers with AR experiences. Recent experiments also reveal that AR can increase a customer’s time sampling products by almost 50%.
Explore what facets of your products are better shown through 3D modeling. For instance, you can allow customers to test what furniture will look like in their homes or how makeup appears on their faces. You can also use AR for education, explaining how appliances are created and used. All in all, AR presents abundant opportunities for eCommerce since customers can better evaluate your products.
eCommerce provides companies with incredible opportunities for increasing revenue. Knowing what trends are rising in 2023 allows you to explore new marketing possibilities for your business.