E-commerce accounted for close to 19% of global retail sales in 2022 and was projected to reach a valuation of $5.5 trillion in sales by the end of the year. With tens of millions of e-commerce businesses competing to attract the billions of customers who purchase products online every year, you will need an inspired strategy to stand out from the pack and build an identifiable brand.
Lessons learned from this year should inform your decision-making process as you move into 2024. Review data from this year’s campaigns and reports to see if you can glean any insights or spot any missing data. Additionally, make sure you adjust your reporting to Google Analytics 4 and inform your stakeholders of any changes that may arise due to the new data tracking system.
Use a bigger data set to test new ideas and learn about consumer trends. Holiday seasons, for instance, often see a surge in e-commerce site traffic that can allow you to test improvements of optimizations specific to certain holidays.
Invest in scientifically robust but simple tests, and limit yourself to one test at a time to maximize their effectiveness. You can also consider using nudges or small changes to influence customer decisions to test the inspiration behind customer purchases and help inform your 2024 strategy.
Leverage gamification during the upcoming holiday season to carry out marketing tests and optimize your future marketing efforts. Gamification refers to adding elements of game mechanics to decidedly nongame settings such as online communities and websites to increase user engagement by making “boring” content more enjoyable.
This could include including fun generic games such as addictive and engaging quizzes for users who spend a certain amount of time on your site.
On top of increasing customer engagement, gamification also gives you an opportunity to gain insights into a specific customer base and can provide you with information that will help you create targeted segments.
Capture all the zero data that flows into your site. Zero data refers to any information your customers voluntarily share while on the site through messages, polls and quizzes, customer profiles and website activity.
The holiday season offers an especially attractive opportunity for data capture through exclusive deals and promotions for your customers. Consider collecting customer information on the most preferred products through planning tools, quizzes or games before offering these deals to personalize your content and boost your site’s conversion rates. The information you collect through these means can also help you personalize your content and build a strong brand in 2024.
Invest in digital PR to boost authority and improve your e-commerce brand’s presence, especially during the holiday season. This can be done by sharing deals and gifts while studying the previous year’s data and your competitors’ to ensure your brand is in line with market rates for such gifts.
You can also reach out to publications in markets you haven’t quite penetrated to build backlinks to your site during the holiday season. Furthermore, make sure you plan for the coming new year and the opportunities it brings by working out a plan for January content.
Platforms such as NextPlat Corp. (NASDAQ: NXPL) (NASDAQ: NXPLW) are setting the pace with regard to revolutionizing how sellers and consumers benefit from the reach that e-commerce can give businesses engaged in various industries, such as healthcare.
NOTE TO INVESTORS: The latest news and updates relating to NextPlat Corp. (NASDAQ: NXPL) are available in the company’s newsroom at https://ibn.fm/NXPL
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