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8 Essential Ecommerce Techniques for Long-Term, Profitable Growth

It's difficult to declare 2022 as the year of e-commerce thus far. In all honesty, one might even conclude the opposite after reviewing the statistics.


E-commerce transactions have decreased 1.8% from a year ago, but in-store sales have increased 10%, according to the most recent Mastercard SpendingPulse survey. From a different angle, data revealed that, on average, the proportion of total spending that was spent online increased significantly from 10.3% in 2019 to 14.9% at the height of the epidemic. But in 2021, it dropped to 12.2%. An overall not-so-rosy market forecast results from the rising CPC costs at all types of paid advertisement channels and the fiercer competition.


Ecommerce Techniques for Long-Term


To cut a long tale short, it's becoming more and more difficult to attract customers to your store, therefore it makes sense to make the most of what you already have in a productive and efficient manner. Automation is the final strategy that shrewd e-commerce businesses use in this regard.


Ecommerce automation often has two distinct strengths. On the one hand, eCommerce automation is much faster than human methods of carrying out an operation. On the other hand, technology might even enable an operation that is impossible to carry out manually but that, when automated, offers businesses a previously unheard-of chance for growth.


This article will walk you through eight important eCommerce automation areas and strategies, share professional advice that can and already does drive sustainable and profitable growth for businesses of all sizes from all over the world, and explain why automating those specific parts of an eCommerce process matters.



Pricing

"Throughout the course of a product's lifecycle, prices are changed multiple times, either to stay competitive or to adjust for market-wide price changes such as inflation and supply-side shortages. Just think of the amount of work it would take to keep track of these adjustments, never mind repricing. Pricing automation will help you free up that unnecessary time so you can invest it in productive tasks like operational excellence and customer service, which will enable you to expand effectively and attract more clients without losing any money.



Inventory

"Consumers' expectations of e-commerce enterprises are very clear. Convenience is a top consideration for 76% of consumers when choosing a merchant, so the success of any expanding eCommerce firm depends heavily on an automated inventory management system. By streamlining your backend procedures, automation increases efficiency and enhances the client experience. By minimizing stockouts and limiting overselling across all sales channels, a smart inventory and order management system can help businesses meet and even exceed their customers' expectations.



Returns

"Online returns accounted for 20.8% of all purchases in 2021, up from 18.1% in 2020 and probably continuing to rise. Returns are a given in e-commerce, but by using an automated returns solution, it's easy to make them a positive experience. Automation tools like Return Rabbit help increase the exchange rate of returns, upsell with informed suggestions, and reduce the time and expense of customer support. More loyal customers and repeat buyers equal good ROI.



Incident management

"The global cart abandonment rate is 69.7% on average. Accordingly, 69% of customers who visit a store 100 times will leave during the check-out procedure. If there are any problems with payment processing, mobile users are the most likely to quit the website. If your e-commerce company receives hundreds of orders each day, it is impossible to keep track of every problem in real time and respond to it. You can identify UX, cart, checkout, or payment issues in real time and save a ton of time and money by automating incident monitoring.



Advertising

"If you want to enhance ROAS and maintain your competitiveness, advertising automation is essential. By incorporating automation into your digital marketing approach, you can control and improve crucial ad components like bids, keywords, and ad copy in real time, ensuring that your campaigns are constantly adjusted to produce the best results for the smallest amount of money spent. Using automated Facebook and Google Ads for eCommerce, stores can raise their sales by 470% in a year.



Email marketing

The most economical kind of advertising for e-commerce companies is without a doubt email marketing. Even better, 80% of it can be automated. For instance, you can set up emails to be sent out automatically when a site visitor adds an item to their cart and then departs without making a purchase.



Reviews

"Reviews are essential for converting visitors to your shop. When requested, only 4% of individuals submit reviews, even though over 90% of them desire to do so before making a purchase. There are ways to increase it to over 10% to 12%; you just need to ask customers for feedback at the correct moment (after delivery), consistently, and with incentives like coupons or loyalty points. Opine is just one of the many Shopify apps that may assist you in totally automating that procedure.



Referrals

Word-of-mouth advertising is a part of every product's marketing strategy. Referral automation solutions can help answer the question of how to monitor this channel and scale up marketing initiatives to expand the customer base more successfully. Referrals are reliable sources of brand awareness with low customer acquisition costs (CAC) and organic, sustainable methods of customer growth. Referral programs really provide a cheaper cost-per-lead than other channels, which is critical given the rising CAC of sponsored channels, according to 54% of respondents.




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