Ecommerce is Changing: How Retail Brands are Going Direct and Winning Big
This is the most exciting time to be involved in the e-commerce industry. While there have always been opportunities to build successful digital businesses, we're at a historic inflection point. There have never been as many opportunities in e-commerce, nor has there been as much competition.
That's why listening to customer voices is so important for any brand, even the smallest of businesses. Small businesses and entrepreneurs can learn from the biggest successes in retailing, and use it to improve their operations. But this requires using newly available tools that are changing how we buy products online. There have never been as many opportunities in e-commerce as there currently are — however, that could change soon given how quickly consumers are moving between different retailers daily.
Evolution Of E-Commerce
E-commerce has now reached a stage where consumers are not only researching products online but also engaging with brands and retailers via social media and live video. This is happening as trust levels between brands and customers fall at an alarming frequency.
A key motivation for this phenomenon is the increasing use of social media by consumers: knowledge about what their friends are enjoying, combined with the desire to help them find things that they’d like, has led to an exponential rise in trust and the use of social media for buying decisions.
The rise of direct-to-consumer (DTC) e-commerce companies is generating a shift in the way retailers interact with their customers. While most have previously relied on mass advertising and mass distribution, these brands are now investing in online communities to humanize their brands, increase customer retention, and overcome increasing advertising costs.
The growth of e-commerce has created exciting opportunities for both consumers and businesses alike. E-commerce platforms have enabled small businesses to reach new customers almost anywhere in the world, while simultaneously creating a powerful platform for brands to reach a worldwide audience.
The development of digital commerce has dramatically changed how people buy products, prompting greater demand for specific technologies, which are also driving innovations in areas such as mobile payments, loyalty programs, and mobile device security.
Get Ahead Of Your Competition And Invest In Your Brand
Depending on the size of your e-commerce business, you may already know that performance advertising is the most effective way to engage consumers and drive sales. No longer are marketers able to wait for years to reap an ROI on their marketing. As soon as a product or service goes up on an online marketplace, it’s available to everyone who can buy it instantly.
Amazon, Google, Facebook, and others have become so powerful that they have forced “traditional” brands like Apple, Nike, and Rolex to find new ways of getting in front of their customers. Many retailers are now working directly with their customers, asking them what they want rather than waiting for them to come to them.
Despite the growth of e-commerce platforms, brand identity is still the most important part of the equation. Every aspect of your business relies on your brand presence and perception—how it’s viewed and how it’s used. Consumers are getting bombarded with digital ads and promotions every day, whether it be on Facebook, Twitter, or Instagram.
Today's consumers are inundated with information, which makes it even more challenging to stand out and be noticed by anyone. E-commerce brands need a solid brand identity to help them differentiate themselves from competitors. A strong brand is the foundation of sustainable growth.
Explore New Channels To Reach Your Ideal Customer
Let’s admit it: businesses aren’t perfect and some companies stand out in the crowd. How can you be sure that your e-commerce brand has what it takes to grow? What are the best branding strategies that will help you reach profitability? If you’re serious about monetizing and making money online, what can you do to attract attention and build trust? This is where TECTANIC comes in, we can help you reach new audiences and align your brand activities with your top-level goals. We will diversify your advertising and sales channels to lower the cost of acquisition.
Let's connect if you want your business to reach new heights.
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