When it comes to e-commerce, it is essential to be prepared for an ever-expanding environment where competition intensifies daily and to develop various strategies to succeed in this space. E-commerce marketing strategies are roadmaps that we must create, considering many factors and updating at various intervals.
Today, companies that want to succeed in the e-commerce sector undoubtedly focus their most important efforts on strategy. Almost every day, businesses that introduce their products and services to the e-commerce market continue to fail simply because they do not plan the right strategy. In this article, we will try to explain step by step what you need to consider when creating an e-commerce marketing strategy.
Define Your Company Goals
What is your company's goal for one year from today? When you clearly define this, you also outline the main direction to set your strategy. An e-commerce marketing strategy provides you with a path, but where should that path lead? This is the most crucial question you must answer. As Montaigne said, "No wind helps a ship without a destination."
Identify Your Target Audience
Determining your audience when developing an e-commerce marketing strategy is a process that begins with product design. Identifying your target audience during the product design stage helps you shape the product you will offer. Furthermore, when setting your strategy, segmenting your audience based on their demographic information, interests, income and financial status, marital status, and shopping habits provides excellent data that you can use to determine and diversify your e-commerce marketing strategy.
Competitor Analysis
Once you’ve identified your target audience, analyze your competitors who have reached that audience before you. Acknowledge that competition in e-commerce can be intense and challenging, and examine what your competitors have done in product groups aimed at the same target audience. Make sure your analysis includes previously tested and successful strategies.
Decide on the Brand Perception You Want to Create
Every successful company has a perception it creates over time among its customers. Some companies stand out for the durability of their products, while others excel in customer experience and support. Which category do you want to be in? Decide on the company profile you will establish in terms of the product and customer perception you wish to highlight.
Determine Your Marketing Budget
When developing your strategy, you must allocate a budget for marketing activities. Remember that you will manage all activities, whether product- or audience-based, within this budget. Marketing budgets are usually prepared annually and are managed as part of the strategy plan.
Prepare Your Marketing Calendar
E-commerce marketing strategies also encompass seasonal discounts and promotions. You should view the timing of discounts or promotions as a crucial part of your strategy. These products and campaigns must be timed correctly. For instance, a promotion offering discounts on swim shorts in January might not attract much interest.
Decide Which Channels You Will Be Active On
While developing your marketing strategy, you should also decide which channels you will use for your activities. To do this, you must first analyze where your target audience is most active. When turning to platforms like social media marketing or search engine marketing, which have become trends in digital marketing, ensure your actions align with your analysis.
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