2024 Growth Channels for E-commerce Marketing

Needless to demonstrate the importance of eCommerce marketing in the current digital world. Especially when the entire commercial sector comes online in the present uncertainties of the covid19 outbreak.

Well, with the arrival of the New Year, it’s time to look into the future and predict the trends that will shape the new face of the e-commerce industry in 2024.

Some Amazing Stats

• Overall, e-commerce is growing at an unpredictable rate, growing by 23 percent year-over-year, with sales expected to reach $5.5 trillion in 2024. 
• By 2024, it is expected that the digital sales will reach 22 percent of global purchases. The COVID-19 pandemic has accelerated this process.
• In the initial six months of 2020, we saw a 4.8% increase in the eCommerce industry, which is more than 4.5% over the past 5 years. Isn’t it amazing?

Well, while looking at all the above-listed statistics, it cannot be denied that the future of the e-Commerce industry is very bright. All you need to know some of the best-proven ways to handle sales funnel.

To succeed in e-Commerce, an entrepreneur has to master in three things:

1. In-demand products to sell, 

2. The skills to market them, and 

3. The drive to succeed.

Here are some of the latest eCommerce trends that will be reshaping the landscape of the entire industry in the coming years. 

• Increasing Consumer Expectations: Fulfilling customer expectations is definitely something that seems impossible, especially when the emerging eCommerce website such as Amazon or Myntra sets an unbeatable on-time delivery standard. There will likely be more 2-day shipping requests, also deserted carts, and ever-growing digital retailing expenses.

• Game for Google: Almost, every entrepreneur is familiar with Google’s paid and organic search techniques. Both of them are powerful traffic drivers on eCommerce websites.

Apart from the paid and organic search techniques, there are some alternative growth channels such as:

1. Facebook

2. Instagram

3. LinkedIn

4. Twitter

5. Pinterest, and 

6. Snapchat

• Diversification: E-commerce marketing is not all about policies but also about brand innovation ways. Although all the above-listed channels are important, with these channels, eCommerce advertisers and marketers should also pay consideration to specific indexes like social index, model, and YouTube searches. It is one of the best ways to attract a large audience without drilling your pocket.

• Existing Customer Base Is Equally Important: A good entrepreneur is one who gives equal importance to their new as well as enduring clients. Currently, the sales team of many e-commerce websites tries to create a net of new clients and forget to serve their old clientele. Well, previous clients are the backbone of any business, and targeting existing customers is equally important.  

• Omni-channel marketing: Integrating offline and online attributes into a single multi-channel shopping is a great way to give a quick boost to your sales funnel.

2024 Key Ecommerce Marketing Ways for better Business Growth

Ecommerce marketing is all about the way and methods an entrepreneur use to present their venture on the web via several marketing channels and techniques such as:

• Organic Seo, 
• Paid Campaigns,
• Content Marketing,
• SMM
• Email Marketing,
• ORM and much more

Essentially, all the methods you can use to boost your sales and brand visibility.

Some of the Best Ecommerce Channels to Drive Brand Awareness 

Encouraging brand discovery is the first and the foremost thing on which an entrepreneur has to work so that more and more people are aware of his or her business. 

Top Brand Discovery Spots

With the advent of the internet, there is no shortage of discovery spots as the web is all about discovering new things at the national and international levels. Establishing an online business is a sure shot way to reach a global audience. Here is a complete list of brand discovery spots that helps you to make your business visible in 2024. Have a look!

• Search Engines

There are several search engines such as Yahoo, Bing, Google Ask, etc. All of these search engines enable users to discover your business when they search for your products/services. However, paying attention to the common index may not be valuable, especially if you have a brick-and-mortar presence. In such cases, local indexes play a vital role as local search signifies more purchasing intent as compared to the general indexes. Apart from this, Google image search also brings huge traffic at a very nominal price.

• Social Media

Undoubtedly, social media can drive more audiences to your business and turn them into buyers. However, at present, we all are familiar with the over-crowdedness on Facebook. So, try adding other social media channels into your e-commerce marketing mix. The channel you can incorporate in Pinterest. Also for rich visual experience with direct CTA’s you can also use Instagram. 

Top Ecommerce Channels in 2024 for Marketing and Lead Generation Growth

E-commerce is all about purchasing and selling things on the web and it is only possible by finding the clients having the most important buying intent.

Here is a complete list of top eCommerce marketing channels in 2024 for lead generation growth. Just go through it!

Pinterest and Instagram

In SMM for eCommerce, then we cannot neglect the importance of Instagram and Pinterest – Two leading social media platforms having buyers with high purchasing intent.

Both of these channels are tremendously popular because of their great visual discovery features. The amazing visual appearance of these two social media platforms allows the client to touch on a Call-To-Action button as compared to someone falling upon that very identical ad in their Facebook feed.

Keyword Strategy

Keyword strategy plays an important role in the overall search appearance of an item on Google, Yahoo, and Bing. It is a great lead-generation driver. The “nearby” or “near me” research words are great for spotting commercial intent, so you should focus your keyword objectives similarly. 

Email Marketing

It is one of the largest eCommerce extension strategies that you can use not only to increase your customer share but also a wallet share. In this respect, the various important source is your site visitors and email subscribers. Current customers tend to be costly and more difficult to attract, so when you think of sales funnel, go after your existing audience. Here, optimizing your email shopping is one of the best cash flow-drivers.

According to the research, it has been found that people ignore marketing emails, so try to get your user’s awareness within the emails they open. So, place your shopping offers within transactional emails such as order/shipping validation emails, as people see those emails and are more likely to promote repeat customers.

Sales Increasing Strategies to reshape your eCommerce Business in 2024

Finally, we land at the negotiations stage – the heart of any entrepreneur. Before making any kind of changes in the currently running offers or any modifications in prices, it is good to check what your competitors are offering as it helps you to serve better to your target audience. 

However, there are some limits on price and offers, but e-commerce marketers can do a few points to keep their profit margins intact.

So here we go!

• Customer Segmentation 

The thumb rule for boosting eCommerce businesses is that the more appealing the offer is, the more comfortable the conversion. With 59% of customers viewing bespoke offerings as a critical factor in getting bargains, the key to e-commerce growth lies in proper segmentation and customization. 

Working segmented data allows brands to produce highly personalized information with more growth power. There are several tools available to assist marketers to break down their audience into different cohorts such as:

• Dynamic Yield, 
• Monetate
• Richrelevance and much more.

All of these are the best at segmenting email lists as well as visitors to generate relevant dynamic offers. 

Pro tip: There are many email assistance providers such as Gmail or MailChimp that allow customization and dynamic offers as email is open. Customizing open emails answers the problem of expired promo codes (if the mail is initiated too late) and off-topic offers.

• Behavioural data analysis

Apart from the segmentation, there is another thing that eCommerce marketers can do to keep their profit margins intact and that is behavioral data analysis. 

It is good where the straightforward things offered by the segmented technique are not required. Because the actual puzzle is associated with behavioral signal data and learning the context of the purchaser’s buying intent.

Such issues can be spotted by giving thought to whereby users have landed on your eCommerce website. This type of data can bring some contextuality into the overall scenario and helps in creating more personalized and relevant offers. 

By performing In-depth behavioral data analysis, an entrepreneur can easily understand what exactly prevents your website guests from turning into paying clients, as well as run bug difficulties and pass on troubleshooting knowledge to the client assistance area. 

Here we have enlisted some handy tools for onsite behavior tracking. Just go through them for a healthy competition.

1. Google Analytics and Adobe Analytics – For quantitative data analysis.
2. Hotjar, Lucky Orange, and Microsoft’s Clarity – To continue more granularity and data to the representation.

• Reduce client friction with impeccable UX/UI

There exist several special factors that lead to friction with customers, such as slow page loading or poor composition. 

Though, in 2024, the eCommerce sector is all about 

• Delivery Times, 
• Free Shipping and,
• Easy Returns etc. 

Hence, you need to think about the best eCommerce practices with regards to UX & UI including replicating them in your digital journey to give the users the best experience. 

Trust and reliability

There is no doubt that when it gets to online transactions, credibility and trust are the two big factors. 97% of people make buying choices based on customer feedback which is a new form of word-of-mouth and proven quality to your brand.

Besides trust and credibility, great brand recognition is also a major factor that leaves a significant impact on any client. However, if you can’t afford to throw money into the advertising drain, here are the simplest things to do:

• Your design is a crucial aspect as it is a factor that amplifies a brand’s perceived reliability and shows competency. Winning and high-quality product images can go a great run in this regard, as no one believes a brand with poor-quality stock images.

• In the present digitized world, social data is a big conversion rate enhancer. So, it is good to encourage client testimonials, ratings, and reviews that include review snippets on your homepage, result pages, and even ads.

Final Verdict

It can be concluded that there is no shortage of growth channels for eCommerce marketing in the year 2024. Only the brands need to know how to advertise their business on their respective platforms and tackle all the issues in a timely manner.