The COVID-19 pandemic has pushed buying online forward as fewer people want to visit brick and mortar locations. Digital ecosystems are estimated to produce $60 trillion per year by 2025, which is 30% of the world’s total revenue. Ethan Bavuu runs his own e-commerce store and is an expert at getting in on the ground level of the trend. Here are some of his predictions for the coming year and how to play them to your advantage.
Put customers first.
CRM, or customer relationship management, is set to be even more important in 2021 than it was in years past. “Clients can tell when you’re being artificial with them. It’s not enough to simply add someone to your brand’s email list and forget about them. You need to really engage, especially first-time customers.” When someone new buys from you, use this as a time to start a relationship. This won’t always mean more purchases right away, but it will pay off in the long run. “The most significant factor for a business’s success is how well they bond with their audience. Don’t slack on email and social media campaigns during this coming year.”
Add more buying and shipping options.
As online competitors grow, customers are getting pickier about shipping and payment methods. You can expect the variety of these options to grow in the next year. “Maybe someone wants to pay with BitCoin or get their package shipped overnight. We should work to accommodate these requests to grow our relationships with consumers.” Other options include Buy Now or Buy Later buttons, e-wallets, and payment plans.
Build stronger relationships with influencers.
Many brands are already working with influencers on apps like Instagram to help sell their products. This trend will continue into 2021 and become even more important. “Most companies can’t keep up with their marketing, and they might even run out of things to post themselves. Influencers can easily create new content and put new eyes on your product.” If you want to bring in more influencers, consider looking for people who are smaller or local. Provide them with free merch if that’s all you can afford, and give them creative liberty with their posts. “They know their audience better than you do. They will make sure your message resonates.”
The year 2020 was very unpredictable, but e-commerce sellers are looking forward to more stability in 2021. If you’ve been considering working on an e-commerce startup, right now is the perfect time to start working.
