These days, e-commerce businesses have more marketing options at their fingertips than ever before. And as marketing tips, tricks, and hacks continue to exponentially increase, it can be easy for an online retailer to get swept up in crazes without carefully examining how well-suited they are to the business and the kind of value they can deliver.
However, there are three marketing trends that are truly not worth missing out on for just about any e-commerce business. Ignoring artificial intelligence (AI)-led marketing, neglecting an original social media content strategy, and overlooking the link between marketing and increased chargebacks, many e-commerce companies are losing out on some seriously lucrative revenue streams.
Mistake 1: Not Leveraging AI-Driven Marketing
AI seems to be everywhere these days, and for good reason. Leveraging AI in your marketing efforts can propel a targeted digital strategy to new heights. By using AI to analyze social media and online behavior data in real-time, companies can gain detailed insights into their customer base and use segmentation to deliver hyper-relevant messages that resonate with customers.
However, many e-commerce brands still see AI as an expense affordable only by large enterprises. But that isn't the case. There are ways for smaller brands to leverage its power through third-party providers.
For example, one consumer insights company gives its customers access to an AI-driven platform that analyzes companies' customer base based on psychographic and demographic data; this kind of in-depth consumer analysis also allows for highly personalized product
recommendations. Using the platform, you can ensure you're sending the right messages to the right people.
It's not uncommon for e-commerce companies to have a very loose grasp on whom they should be targeting, which can often result in wasted marketing strategies that fall on deaf ears. Using AI to power your targeted efforts with detailed consumer insights is a surefire way to maximize your marketing results.