Technique 3 minutes, 2 second read Paul Adams, CEO, Tambo
In the last 18 months online shopping has boomed, with the ONS reporting the proportion of retail spending online soared to 35.2% in January 2021, the highest on record and up from 19.5% reported in January 2020. This is largely down to the pandemic shutting the high street and pushing consumers online.
The retail market stepped up, innovating in ecommerce and now a new, wider audience has discovered the increasing level of convenience of ecommerce. In the long term, we expect consumers to continue shopping more online, even with the return to the high street. The choice for consumers online is also growing; subscription services, next day delivery and pay-later initiatives all offer increased choice and convenience.
A more inclusive approach
In terms of marketing, this means we have to shift our ways of thinking when it comes to promotion, branding and discoverability. With more demographics than ever embracing online retail, we need to be more inclusive in our approach to marketing online retail opportunities.
If done right, it presents a huge opportunity for brands looking to grow market share.
Online marketplaces, in particular Amazon, are great opportunities for data-driven insights that can inform marketing strategy. It’s where choice and convenience come together for consumers, making it the first port of call for many consumers, whose data can be analysed.
Your brand is probably already available on Amazon
Being a marketplace, however, any merchant can set up a ‘stall’ and sell any non-restricted products they like through the platform. If you’re not using Amazon as a sales channel, you can guarantee your brand is being sold there by someone else. The time has never been more perfect – or important – for brands to take control and ownership of how their brand is being marketed and sold on marketplaces and to reap the associated marketing and sales benefits.
To understand how to market on Amazon and other marketplaces, however, you need to understand the nuances of the space.
According to data from Amazon Advertising, shoppers take on average between six or seven days to make a purchase online and will typically browse 14 different brands during this time. Brands have a huge opportunity to be seen by consumers throughout the process and there are powerful insight tools on offer through Amazon’s platform to utilise in your marketing strategy.
As the third biggest advertising platform behind Google and Facebook and one of the fastest growing, Amazon boasts an impressive targeting capability for brands to explore, including competitor analysis and brands keywords.
Analysing search terms and ensuring they’re included in copy for appearing high up in results for your category are one way that brands can get ahead of competitors – and even appear in competitor-centric results. Further, understanding which terms perform best means brands can see what people who are looking for their product search for – and this can be applied more widely to ecommerce strategies to improve SEO for direct to consumer sales too.
An important shop window
Brands can also ensure success by taking care over their product page and content. This is especially important in highly considered and competitive categories like electronics and beauty. Detailed and engaging copy, as well as high quality images and video that tell a brand’s story are all important factors which will ensure brands can utilise this channel to its full potential.
With consumers using Amazon and marketplaces more for research as much as purchasing, brands need to pay attention to how they appear through this channel. Ultimately, online marketplaces like Amazon are now the shop window for new products.