E-COMMERCE TRENDS TO LOOK OUT FOR IN 2023
Do you know the latest e-commerce trends?
As we count down to the end of the first quarter of the new year, let us analyze trends that are rocking the e-commerce industry. Knowing these trends would help you come up with strategies to take your business to another level.
Unfortunately, we’ve seen that many business owners do not know the latest e-commerce trends. It is why we are here to help you become aware of these trends. Our goal is to ensure that our business owners are on the top of their game this year.
In no particular order, some of the e-commerce trends to look out for in 2023 are:
Business owners need to understand that running a business isn’t a one-size-fit-all style anymore as there is a need to personalize communication messaging to your audience. Ideally, you need to research your customers and know the language and style that they prefer. It could be in terms of tone of voice, color preference, etc.
When you infuse personalization into the running of your business, it helps you give your customers a better and more enjoyable experience. Also, it changes the perception that people have of your brand. For example, they would say that your brand is friendly and understanding. Then, you begin to see that they would refer your business to their friends as they see your brand as one that puts their needs into consideration.
In 2023, we’ve seen that many business owners have hopped on this trend as they know what it means for their customer base. Not only does it help attract people to your business, but it also helps in customer base retention.
We encourage all business owners to invest in data. It is only when you have data of your customers that you can know how to personalize your offerings to their taste. When you research, you’d know customers that prefer email notifications or text notifications.
Personalization is important as it helps you build a good relationship with your customers.
- Active use of social media
Gone are the days when people, especially business owners, looked down on the use of social media. Back then, businesses could survive without the use of social media. However, it isn’t possible in present society.
In 2023, there is now an increase in the usage of social media by business owners for their brands. This article is not to start highlighting the importance of social media for businesses as we believe that it would be common knowledge by now.
However, we want to ask, why have you not hopped on this trend yet? We need you to understand that being a business owner is competitive. Therefore, you need to hop on all necessary trends if you want to see your business grow.
We are now in the age and time where people can do almost anything on social media. Therefore, there would be more chances of people discovering your business through social media. The best part of it is that it leads to increased revenue in the process.
With social media, your business can cross borders that you haven’t crossed or even thought of crossing. Social media is a powerful tool that makes it possible for you to be in Nigeria and sell products to people in Europe.
If you have not been active on social media, this is your cue to begin.
- Conversational marketing
We wouldn’t say that conversational marketing is a new trend, but its popularity is gradually gaining more grounds in 2023. The concept of conversational marketing entails being able to interact with your customers in real time. It makes them view your brand as a present and interactive one.
Understandably, you might still be confused as it could be that you haven’t heard about this style of marketing before. So, allow us to explain it with an illustration.
Let’s say you run a large retail store with branches all over the country. Understandably, customers would always want to reach out to you for one reason or the other. In such a case, you can apply conversational marketing by having a chat bot on your website.
So, when people go on your website and have a complaint or enquiry, they can use the chat bot. This bot could give them the basic answers. Then, if it gets to a point that the bot cannot handle anymore, they will connect the customer with a live agent.
This way, you would see that it reduces the number of customers that an agent would attend to in a day. We assure you that this marketing style works for all types of business.s
- Reward systems
Do you have a reward system set in place for your customers?
The idea of a reward system means to appreciate your customers for patronizing your business. It could be that you are appreciating those who buy a certain number of products or those who have bought from your brand for years or months.
It shows that you care about your customers and not only about the money that they bring in for your business. Now, when we talk about a reward system, we are not saying that you should run at a loss. Unfortunately, this is what comes to the mind of business owners when they hear of a reward system.
A reward system could be in the form of a set discount, or a buy 3 get 1 free system. It is dependent on what you decide as a business owner.
You need to understand that you must not copy what others are doing when it comes to creating a reward system. Instead, you should find what works best for you and your business.
It is also important that you do not overlook this trend as other business owners are doing it. If you do not appreciate your customers, another brand will, and they will take your customers.
- Incorporation of artificial intelligence (AI)
It is interesting to see the high impact of technology in today’s world. If this were some years ago, we wouldn’t be hearing about AI. But, you cannot deny that it is almost becoming a household knowledge.
What comes to your mind when you hear of AI? We are sure that you would think it is something that should be limited to only those in the tech space, like those doing robotics. Also, you may be thinking of how AI comes to play in your life as a business owner.
Now, let us tell you that you can use AI as a manager that gives you insights on your customers. If you recall, we earlier mentioned that it is important to collate customer data. We do not expect that you would want to use manual means in getting these data.
So, if you’re looking for an easier and faster way to get more insights on your customers, you should start incorporating the use of AI. you would see that you wouldn’t waste time again. This way, you get to make quick and more informed decisions.
We wouldn’t be in the right space to recommend the best AI tool for you to use for now. You need to research and use different AI tools to find out the best one for your business.
- Voice search
Have you ever tried using the voice search feature on search engines?
You may have not tried it before. However, allow us to tell you that it has become a common trend amongst consumers.
There has been an increase in the number of people who use voice search in 2023. Instead of typing on search engines, these people use the voice search feature. This way, it saves time and energy.
You need to know that humans in general do not like anything that would stress them, and it applies to your customers as well. It is something to explore as well as you are working on the SEO for your brand.
It can also work within your website. When people come to search through your categories and collections, it would come in handy to have a voice search feature. This way, your customers can quickly find what they are looking for on your platform.
Now, imagine having this feature and being one of the first to have it amongst industry experts in your region. You can be sure that it would speak well of your brand and bring goodwill for your business.
You need to join the moving technological trend, and this is one e-commerce trend to jump on in 2023.
- Infusion of sustainability
Now more than ever, there is an increased knowledge of sustainability and businesses are trying to ensure that their brand and products are eco-friendly. Back then, we might say that there was no active awareness on environmental sustainability. But you can be sure that people are now more conscious about sustainability.
You need to understand that people have different beliefs and ideologies. One of them could be sustainability. There is a group of people that strive to ensure that whatever they are getting does not harm the environment in any way, and you could have customers that also fall under that category.
So, you should ensure that you are running a sustainable business. For example, you should use eco-friendly bags in packaging products when delivering to your customers. If you continue using plastic bags, it could be harmful to the environment when they throw it away indiscriminately. But when you use eco-friendly bags, your customers can reuse the bags for other things as well.
As you are thinking of strategies that your brand can adopt to grow the business, you should also think of ways to make the brand sustainable. It is something you have to hack to ensure that your business aligns with the latest trends in 2023.
- Diverse payment options
How do people pay for things on your platform?
It is important for you to have diverse payment options on your platform. For example, it could be that you have the option for people to input their card details to make payment. However, you need to understand that not everyone would be comfortable with this arrangement.
So, it would come in handy to have this payment option and other additional options. You can have an account that people can make transfers or have a USSD they can use instead of inputting their card details. It is important to keep in mind that people are more comfortable when you have various payment options on your payment.
It shows them that you run a flexible business and you are not out to confine them. You wouldn’t want a situation where you lose customers to others because they had a more flexible payment system.
These are the e-commerce trends to look out for in 2023 for a robust business! You will have cause to smile at the growth of your business when you begin to incorporate these trends. Start trying them now!
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