The top trends you need to include in your 2020 budget and plan.
Your 2020 Ecommerce Trend Checklist for Strategic Planning for the New Year!
Contributor: Brandy Alexander-Wimberly, Managing Partner
People often tell me that e-commerce isn’t for them, my response is; e-commerce is for everyone. Whether you sell a product, a subscription, a service or even just raise funds, there is a digital commerce component that you can optimize because the ecommerce of 2020, is quite simply, just doing business digitally.
So if you want to hit your 2020 moonshot, integrating ecommerce into your plan is a good way to achieve any lofty goal.
Here is our official ecommerce 2020 checklist, to ensure you’re integrating ecommerce into your plans, so that you can future proof your brand and offer your customers a seamless way to do business with your company, 24/7/365.
Ensure your supply chain and fulfillment logistics are optimized
Preparing for success is part of the process. If your product mix is prone to supply chain inconsistencies, seasonality, or spikes in sales, be prepared. It might sound simple, but your supply chain and fulfillment setup are the backbone of your ecommerce infrastructure. Shooting for unrealistic revenue goals, while your top sellers are always out of stock, is not the best strategy. Dialing in on your top performers, and bolstering your supply chain and logistics, is the first step in planning your ecommerce goals.
Evaluate your competitor’s ecommerce presence
If your competitors are offering customers an easy, mobile friendly way to order their products and services, then you may be missing the boat if you’re not. Setting up an rock-solid digital commerce website is step one in making sure you’re giving your clients and prospects all the tools they might need to do business with you. The days of you telling your customer how you want them to buy your products are over. Amazon killed any sort of legacy commerce workflow! You really think your customers aren’t evaluating your company based on how easy it is to order from you? Of course they are! You can’t expect them to order from Amazon, and get next day delivery, then come to your site and have to receive a quote, order via fax, or find a dealer that doesn’t have an e-commerce site. It’s time to pivot to the realities of how business and buying cycles work today.
Update your product content
I can’t tell you how many times I hear from a brand marketer that their product is the best in the marketplace, yet their product content looks like something from 1995. This is e-commerce that we’re talking about! Which means your customers can ONLY rely on a digital experience to evaluate if they want to purchase your product, service, subscription etc. It’s time for fresh lifestyle and product photography, comparison grids, “us versus them” infographics, 360 dynamic images, unboxing videos, live streams, lifestyle and how-to videos, podcasts, social media engagement, feedback funnels and relevant email marketing. Your product content no longer needs to be a generic image of your product on a white background. Creating big, bold and dynamic product content experiences is the big e-commerce trend of 2020. Engage your customers and give them a reason to not only buy, but to become brand loyal.
Getting your products and services on multiple marketplaces, can be a time-consuming challenge. But it can also be great for exposure and for testing new markets and audiences. Establishing an Amazon presence is a no brainer, but there are a ton of additional marketplaces, pending your category, that offer relevant audiences and new opportunities for sales growth. From Wayfair to Walmart, consider your marketplace expansion options. It can be a cost effective way to expand nationally and internationally. Also, Amazon Business is a growing channel and should not be ignored. It’s much better to get in on the ground floor, than try to join the party well after the fact. This is where Amazon Business is at right now, it’s in growth mode and B2B brands and manufacturers have nothing to lose by getting on board.
The world is getting smaller, and e-commerce is making it easier than ever to sell your products and services to people around the world. Amazon and digital commerce channels make it so easy to go global, if you’re not already there. It can also help test new markets like India, Australia, Mexico, Canada and Europe. Globalizing your website with appropriate languages, is also imperative as you lean into your globalization efforts. Global e-commerce can be complex, but with proper planning, strategic execution and the right partners in place, it can open up unlimited potential to boost your bottom line and grow your brand presence.
We are excited about the future and these e-commerce trends for 2020. As you plan your budget and goals for 2020, consider a mix of these strategic initiatives.