As we finally approach summer, warmer weather, and the latter half of Q2, just enough data has been gathered to start pinpointing and analyzing growing trends in 2016. Combine that with existing data and already-identified trends from 2015, and you get the report put together by Wpromote and eTail: The Mid-Year E-Commerce Outlook. The report specifically covers “mid-market businesses” (that is, businesses with revenues between $100 million and $500 million) and focuses on E-Commerce only. Read on for the report’s most important highlights and findings. If you’re interested in immediately actionable tips that can charge up your digital marketing, go ahead and download the report now!
Search & Email Still Dominate
Some traditional, tried-and-true methods of digital marketing are proving to be as useful to marketers as ever: according to research conducted, email and search were the “top drivers of customer acquisition” for the retailers studied. They were also the overall top revenue drivers, which naturally made those two channels the combined biggest point of investment for marketers. That said, the report also demonstrated that while there was growth, that growth was “modest” compared to previous years.
Social Media Is Growing – But Not As Fast As Wpromote Clients
Unsurprisingly in this age of Instagram, Twitter, and Facebook, social media and referral marketing are continually expanding markets that are seeing growing investments throughout 2016. While business’ main websites and email campaigns are the two primary ways that customers engage with their referral programs, social media is the third most important way consumers are referred into these programs. Customers who are referred by word of mouth usually turn out to be more loyal brand advocates who convert at higher rates, meaning customers who come in through social media and referral programs are more valuable prospects and leads. It’s no wonder that social media and referral marketing are seeing ever-growing investments from marketers.
STATISTIC: Only 2% of marketers are spending a significant portion of their budget on social. Wpromote’s socially minded clients are investing upwards of 30% of their budgets in social. Want to learn more?
Omnichannel Experiences For The Customer Are Being Streamlined
As E-Commerce options for retailers proliferate, so do the channels on which they can market themselves. Email, multiple social media platforms (with paid and organic options), paid and organic search, mobile versions of each, the list goes on. The challenge now is not just to leverage all of these channels, but to make sure that the customer experience between all these channels is cohesive and as optimized as possible, guaranteeing the best possible shopping experience. This is to boost the likelihood of a purchase on behalf of a customer, as well as to make it easier for a business to properly attribute a sale to the correct channel or point in the sales funnel.
The report concludes with a few key points, such as stressing the importance of traditional channels like search and email. However, it highlights the need for innovation through true omnichannel cohesiveness and taking advantage of user-generated content to push brand loyalty and awareness.
Is your business taking advantage of all these great tips? Does your mid-year digital marketing need a tune-up? You can download The Mid-Year E-Commerce Outlook over here right now!