Five Ways Marketing Can Drive Higher Online Commerce Revenue
Description: Now a staple in the diet of cross-channel interactions, e-commerce and online retail has grown substantially, with estimates placing it at $480 billion by 2019. According to Forrester, nearly 70% of consumers purchase online regularly.1 Even with household names like Amazon.com, competition remains fierce and diversified to reach these consumers. Customers in the US now have more than 800,000 web stores from which to pick products.
But with this opportunity comes great challenges for online retail and commerce companies. With huge growth goals, they struggle to keep their costs low while growing revenue rapidly. More than 40% of retailers said that their marketing cost per order increased in the past year, and 46% said that their new customer acquisition costs increased.2 Part of the challenge rests in customers receiving messaging and advertising that isn’t targeted based on their interests, resulting in wasted advertising, bad product targeting and, ultimately, low (2.6%) conver