Along with every other technology whose adoption was accelerated by the pandemic, e-commerce has reached its heyday. Even businesses that previously had a minimal online presence have embraced e-commerce as a permanent strategy.
A Strategy for Survival
The strategy is working. A recent Click-Z survey compared 2020 third-quarter statistics with those of the same period in 2019:
- The conversion rate for promotional emails increased by 169%.
- Email marketing automation drove 32% of email conversions, while accounting for less than 2% of total email sends.
- There was a 237% rise year-over-year in SMS messages sent.
- Push message marketing increased nearly 1700% and had a 30% conversion rate.
What a Difference a Year Makes in E-Commerce
What will happen when the pandemic ends? Are changes to traditional marketing are likely to remain, and how will businesses be challenged by them? Following are four trends to consider as you develop your plan for your promoting your business going forward:
1. Storytelling. Storytelling is an important part of marketing because it is a good way to tell the business’s stories and support it authentically. Businesses tell their stories on their social media accounts. The pandemic only reinforced the relevance of telling stories.
2. Privacy. A recent Pew Research study found that roughly 81% of the public said the potential risks of data collection by companies outweighs the benefits; however, 79% said they were concerned about the way their data is being used by companies. Businesses need to take steps to be transparent to alleviate customer concerns. In addition, businesses need to be aware of how the General Data Protection Regulation and any state privacy laws, such as California’s Consumer Privacy Act, can affect how they collect data.
3. Corporate Social Responsibility. Consumers have been increasingly aware and supportive of causes they believe in. That is part of the reason we see calls for various boycotts on social media. Consumers vote with their pocketbooks as to whether they will support a company’s beliefs. For example, concern for the environment spurred some states to outlaw the use of single-use plastic bags. It is also why companies like Uber Eats include a checkbox for whether the consumer wants plastic silverware included with their food. Businesses need to be thoughtful about whether the causes they support will affect how users perceive them.
4. Contactless payments. The trend toward contactless payment will continue. It is likely people who spent a year staying away from close contact with people and using hand sanitizer multiple times per day will not be eager to touch things other people have touched. Brick-and-mortar businesses should consider accepting contactless payment systems that use radio-frequency identification (RFID) or near field communication (NFC) such as Apple Pay and Samsung Pay.
We welcome the opportunity to put our small business expertise to work for you. To learn more about how our firm can help advance your success, contact Kathy Corcoran at (302) 254-8240.
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