In particular, this year requires a different balance to define the next steps of your business or online store. Are you ready?
The e-commerce we saw in 2020 will set a new foundation in the industry. However, one of the great challenges facing brands is creating comprehensive experiences by effectively connecting and combining all their channels, including the online store.
For example, and to highlight its importance, 86% of El Buen Fin buyers purchased some product or service during the campaign combining the physical and digital channels, according to the AMVO (Mexican Association of Online Sales).
Although half of the buyers surveyed bought almost exclusively online, the challenge is in migrating the business to the digital world and providing great shopping experiences, regardless of the channel the buyer is using. To evaluate the performance of your business during 2020 and prepare it to grow in 2021, from Real Trends, we propose you to answer the following questions:
1. Did I prioritize my audience’s shopping experience?
The digital channel must be simple to navigate and intuitive to convert. In this sense, it will be essential to consider mobile adoption and buyers’ preference in this way. The mindset of brands must abandon the desktop format as the only one possible if they want to live up to their buyers’ expectations and needs.
2. Did I think of omnichannel?
This concept is increasingly present in sellers’ mouths, but it appears to be difficult and expensive. This is just a myth, and the challenge is to understand that offline and online channels cannot be dissociated.
When brands study and know their target audience’s preferences, they can choose where to have a presence and do it appropriately. It is key to remember that being omnichannel does not imply being in all channels, but being strategic and interconnecting the entire business.
3. Did I define a digital budget?
When it comes to investing in the online channel, a specific budget is not always allocated, but the investment is calculated based on its return. Although this is a possible path, as a good practice, it is recommended to create a budget that adapts to the business’s objectives and not only based on the return on investment. At this point, it can be crucial to partner with a specialized consultancy to understand how and where to invest.
4. Did I measure the results?
Having metrics that adapt to each business will be an increasingly present trend. It is not about measuring everything, but what is necessary to study the effectiveness, the pain points, and the ways of improvement.
2020 lessons for the online store
The evolution of eCommerce in 2020 leaves us with a key lesson: it is time to think from digital buyers. What do they do? How do they navigate? What do they seek? To do this, we can talk to our audience and ask them what they would like to be different so that their experience is truly satisfactory.
I hope these questions serve as a kickstart to deepen a comprehensive strategy in 2021. To support you in this process, visit Learning, the educational section of Real Trends, and learn about trends in the digital ecosystem through resources and downloadable materials to enhance your business’s scope.