You’ve spent thorough time sorting out your Amazon strategy. Great, well done. That means your eComm strategy is set, right? Well, maybe not. Amazon, whilst being important, is only part of the journey. In this blog, we’ll scope this out a bit further and give you food for thought about a more holistic approach.
In a recent review, (source: Business Insider) 56% of US, German, UK and French shoppers prefer Amazon as a point to search for the product. Customers go to Google to search for a product but still, Amazon enjoys loyalty from customers. In the US, 36% check Facebook reviews or Facebook advertisements for buying a product. Blogs, Bing, Instagram, Twitter, Pinterest and blogs are the other sources for a product search but not a big number.
The survey says:
· 22% say that “if they find a product suitable on Amazon, consumers do not look at other sources.”
· 51% say that “though there is information on other websites, they prefer Amazon to explore alternative ideas, compare product features, prices and get more information.”
Below is another survey conducted in Q1 of 2017 (source: Business Insider). This survey reveals that Amazon is the first stop in the marketplaces where customers stop to purchase.
The chart clearly explains Amazon as the first choice to search for buying a product. Amazon not only enjoys loyalty from the customers, but it’s also the place where customers can get enough information about the product that they’re able to make an informed purchase decision.
So, this confirms the importance of Amazon today: highly important but certainly not the whole story.
Let’s look at the ecosphere available to you. Amazon, E-Bay, Google, Facebook, Twitter, Instagram, Snapchat, reseller sites, retailer sites, your own site – they can all reach the customer. Some will sell your product, some will generate interest or even leads. But how do you choose the correct platform for your business and how do you maximize sales? It’s not an easy decision to make, however, it is easy to invest incorrectly.
Take a very common scenario: you’ve built a great website and now all you need is to gain traffic. You’ll invest in SEO. You’ll invest in PPC campaigns. However, the channel strategy doesn’t allow you to sell direct so you’re gaining interest but don’t know if you’re generating sales. One idea might be to partner with a tech-savvy organization called Commerce Connector, which creatively connects your brand with loyal and committed retailers and e-tailers. Commerce Connector can also be imbedded into your social media feeds.
Social media can be a minefield. Which works best? What does success look like? Do re-Tweets help sell more product? Do ‘Likes’ improve your bottom-line? Well, maybe. Having brands that consumers genuinely engage with on social media platforms is more than half the battle. Do you have that kind of brand? If you do, then Facebook, Twitter, Instagram and Snapchat may really help. They have a multitude of success stories.
B2B brands struggle with the kind of emotional attachment to really make social media pay dividends. That said, there are plenty of success stories on LinkedIn and, to a lesser extent, Twitter.
If you’re a retailer, the metrics are straight forward; footfall, conversion and average transaction value. It’s no different online. What is different is how you get people into your “store” (wherever that may be) and the techniques you’ll need to maximize conversion and value.
The first step to a successful online strategy is to truly understand who your customer is and how they will find you. Then, work out ways to get their attention and move them toward a sales funnel. My guess is that one solution will not be enough. Choose wisely!