Three Marketing Mistakes That Are Costing E-Commerce Companies Revenue

Today, e-commerce companies have more marketing options than ever before. And as marketing tips, tricks and hacks continue to grow exponentially, it can be easy for an online retailer to go crazy without exhaustively researching how appropriate it is for the business and the type of value they can provide.

However, three marketing trends are really worth losing in any e-commerce business. As artificial intelligence (AI) marketing is disregarded, an original social media content strategy is neglected and the link between marketing and growing returns is neglected, many e-commerce companies are missing out on serious lucrative revenue streams.

Mistake 1: Don’t use AI-based marketing

AI seems to be everywhere today, and with good reason. Using AI in your marketing efforts can take digital strategy to new heights. Using AI to analyze social media and behavioral data online in real-time, companies can gain a granular view of their customer base and use segmentation to deliver hyper-relevant messages that resonate with customers.

Many e-commerce brands still see AI as a cost that can only be accessed by large companies. But that is not the case. There are ways in which smaller brands can leverage their power through third-party suppliers.

For example, a consumer insights company gives its customers access to an AI-based platform that analyzes a company’s customer base based on psychographic and demographic data; this type of in-depth consumer analysis also allows for highly personalized product

Recommendations by using the platform, you can be sure that you are sending the right messages to the right people.

It is not uncommon for e-commerce companies to have a very broad idea of   whom to target, which can often lead to a waste of marketing strategies that fall on deaf ears. Using AI to leverage your targeted efforts with detailed consumer insights is a surefire way to maximize your marketing results.

Mistake 2: Ignoring an original social media content strategy

A smart, original and innovative social media content strategy can be the difference between feeding customers from external channels and a virtual weed exploding on the home page of the product page.

Social media marketing is nothing new, but to get the most out of it and reach as many potential customers as possible, you need to use it to develop a brand story and build customer relationships.

Standing out from the crowd on social media means delivering content in a way that connects and surprises your users. And since delivering quality content is an important tool for e-commerce companies – e-commerce content marketing costs 62% less than traditional marketing, but leads to three times as many leads – it is a strategy that deserves a lot of attention.

If you’re just getting started, you can develop everything from sharing valuable blog content on a channel like Facebook to finally getting the best out of interactive cross-platform tools like Instagram stories. And as long as your message and brand are perfect across platforms, there is no reason to limit yourself to just one or two platforms.

Mistake 3: allowing avoidable solutions

Many electronic brands see refunds as an inevitable way to avoid too much. Refunds occur when users dispute charges on their accounts and require a refund for their purchases. Contrary to popular belief, the shocking amount that companies lose from recalls each year – $ 31 billion in 2017 alone – could be mitigated by innovative marketing.

All of this means more precision and understanding for the buyer about what they are buying and fewer surprises than the product that arrives – therefore, fewer refunds.

While integrating AI and AR / VR into a marketing strategy may seem like a remote possibility for many smaller electronic brands, there are ways to take advantage of these technologies economically. By leveraging low-cost third-party vendors, online retailers can ensure a positive ROI and stay ahead of the e-commerce marketing curve.

And when these efforts are combined with high-quality social media content, electronic brands must make the most of access to an infinite pool of consumers.