Anyone running an e-commerce business needs to be aware of the strategies to grow their sales for generating revenues. The growth of e-commerce business has been on the rise from the past decade, and it is estimated that this only will generate around $4 trillion of sales by the year 2020. This is purely attributed to the fact that e-commerce businesses are now reaching a global audience.
Due to this globalization, western as well as non-western countries are now adopting e-commerce business trends. The e-commerce platform is not just for B2C selling; it is also essential to cater to the need of B2B. An e-commerce business must know tactics and trends to use for driving other companies or customers. Here we have come with a 6-step guide of best revenue driving e-commerce growth tactics in 2020, and an e-commerce business can use.
- Sales driving factors
- Search Engine Optimization
- Mobile application market revolution
- B2B and B2C platforms to drive traffic
- Delivery time and method
- Retargeting potential customers
1) Sales Driving Factors:
Any e-commerce business has the potential to generate massive revenue, and individual elements can help to achieve that. For generating revenue, a suitable content that describes the product that we are selling needs be published in the form of a blog post, a video, an image, audio (podcasts), product comparison, etc.
The content which is used for describing a product needs to be acute and to the point. This type of content is useful for our potential customers to decide and choose the desired product from our list. We all have heard the phrase that the material is the king, and it will prove as a king in the coming years.
Content creation has also seen the major shift from a blog post to a video and audio format.
Anyone is likely to search for a product on google as well as on YouTube. Other platforms can help maximize revenue. Recently TikTok has launched the Edu-talk program. This platform is now expected to be the next Instagram, like the platform for creating good quality content. Good quality content always wins but, more importantly, will be given to the platforms used. In 2020 it will prove as one of the leading factors to generate massive revenue.
2) Search Engine Optimization in 2020:
Any e-commerce business and Magento extensions or any content created needs to have traffic for conversions to happen. The best way to generate traffic organically is to optimize an e-commerce website or material that follows the norms of the search engine algorithm.
Every year the algorithms to rank the page first on a google search are changing. In 2020 investing a little in SEO to rank the page is a must because of its variable factors. With the introduction of the voice search option now, the algorithms for ranking pages are likely to change in 2020.
3) Mobile Application Market Revolution:
Mobile phone application has become the most powerful tool for the success of any e-commerce platform. Because of its user-friendly nature and ease of accessibility, it will garner more than $150 billion in revenue by the year 2020.
More than 50% of consumers use a mobile app for shopping purposes. Creating a mobile app will give a boost to your e-commerce platform. Most people do not have access to desktops and laptops, but mobile has been very economical, and most people have access to mobile phones at their fingertips. So, creating an app will accomplish the customer’s frictionless experience with shopping online.
4) B2B and B2C Platforms to Drive Traffic:
B2B means Business to business and B2C means business to consumer. The best platform an e-commerce business can use to drive more traffic for B2B type is LinkedIn, Twitter, and up to some extent, Facebook. These platforms are most favorable to attract other businesses to engage with your business.
For B2C type, the traffic is gathered through platforms such as Instagram, tiktok, and Facebook. By 2020 it has been estimated that the B2B is going to grow two times more than B2C. Therefore, promoting e-commerce activities that can be useful for other businesses can be helpful in generating massive revenue.
5) Delivery Time and Method:
Most customers prefer the quick delivery option. And in 2020 drone delivery method will be used as the fastest delivery option. This is also the main factor that can affect the revenue of any e-commerce business.
6) Retargeting Potential Customers:
Using retargeting, e-commerce websites can increase their income significantly. For retargeting, the most widely used tool, any e-commerce website can use is Adroll. This direct to customer tool can help businesses to retarget their potential buyers easily, which helps increase the conversion rates.
So, in conclusion, any e-commerce website only with a product is not going to work in 2020. These businesses need to have quality content which follows the algorithms of search engines. The mobile application has brought revolution to the way anyone shops online. B2B will be most helpful for generating revenues in the coming years. Some people visit our website but never buy anything. But adroll had made the game easy ever before.