Boxwood Bulletin: ECommerce Marketing News and Tips (April Edition)

Spring has sprung, and it’s time to blossom into the season with another Boxwood monthly eCommerce news wrap-up! We’re bringing you more findings you should know to keep your finger on the industry’s pulse. We also have more tips for using the news to your advantage to keep your eCommerce marketing strategy humming.

Let’s go!

It’s almost impossible to deny TikTok’s impact on everything from popular culture to buying trends. Still, recent developments have dimmed the social media platform’s shine. 

Recently, concerns about TikTok user privacy and safety have prompted lawmakers to take action. On March 23, 2023, TikTok’s CEO faced intense questioning. There are indications that lawmakers may be considering drastic measures to resolve the situation, such as severely limiting or banning the app altogether in the U.S.

To say the latest developments have swept brands and their social media agencies into a frenzy is an understatement! With a user base of over 150 million in the U.S. and a jaw-dropping nearly 50% of users reporting they have made purchases after seeing products featured on TikTok, the platform has become a star performer. 

However, the current situation has caused a major shift.

Last year, agencies and companies clamored to invest in TikTok. Now, they are forced to re-evaluate their decisions.

Let’s take a breath before succumbing to our first reactions. Here’s how we recommend handling the news:

1. Concentrate on organic reach instead of paid ad spending if you’ve invested in TikTok. After all, one of the targets lawmakers are aiming for is paid ads.
2. Harness the possibilities of owned channels. If most of your spending goes to social media, consider reinvesting that in your site and other channels. 
3. Mix up your platforms. Video is in vogue, so try building your audience on YouTube Shorts. You can share videos and optimize for SERPs simultaneously using the platform.

Feel encouraged rather than discouraged by this news. Just like the changing seasons, opportunity awaits in the social media shift.

Google’s had a rocky last few months. The tech titan, which governs over 90% of the search market, has had its feathers ruffled by AI tools that could overcome the company’s longstanding reign. But, of course, Google isn’t going anywhere without a fight.

The company has launched new products to reassert its dominance. Two that we’re most thrilled about are:

• Project Magi, which adds new features to the current Google Search and lets users finish purchases within the search engine.
• A new AI-fueled search engine touted to deliver users a more customized experience, likely bolstered by Bard, Google’s chatbot.

Google’s AI-powered search engine will analyze user searches to learn their preferences, giving them more personalized results. You can use this feature to better understand current and potential customer tastes. This allows you to offer personalized product recommendations, deals, and services more likely to capture their interest.

Project Magi simplifies online transactions, eliminating shoppers needing to leave the platform to complete a purchase on your site. This seamless integration allows customers to easily buy your products without extra steps or interruptions.

Even with a predicted decline in onsite conversions due to Project Magi’s streamlined checkout process, eCommerce marketers and businesses can still benefit from increased exposure and traffic from the platform’s user base. Here are some actions we recommend: 

• Expect traffic patterns to shift and more shoppers to visit your site for brand, product, and service information, rather than making a purchase.
• Optimize your site for ease of understanding and navigation to maximize your conversion potential.
• Ensure that all traffic, regardless of source or intention, is greeted with optimized copy and a brand experience that communicates your unique value proposition, motivating shoppers to purchase.
• Meet your customers where they shop, whether on your own site or Project Magi, to build brand awareness, foster customer loyalty, and ultimately increase sales.

The payment model “Buy Now Pay Later” has been gaining popularity, allowing customers to purchase on a website or physical store and pay for them in installments.

According to Oblero, in 2021, 4% of all online buys were paid using the BNPL model, a figure predicted to more than double to 9% by 2025. With the rise of brands like Visa and Apple in the BNPL game, we feel even more certain that the payment plan could dethrone credit cards as the most popular payment method option for online purchases.

BNPL’s advantages benefit merchants just as much as shoppers. Customers receive their desired services and products, and business owners receive full payment. Win-win!

If you haven’t already, we suggest hopping onto the BNPL bandwagon. Here are a few more reasons:

• You attract more customers. The impact of BNPL extends beyond younger demographics. Even though Millenials and Gen Zers are among the biggest proponents of the payment model, shoppers from every age group are getting in on the action.
• You boost conversions. Raise your hand if you’ve had enough of high cart abandonment rates. One reason customers may delay a purchase is because of higher-than-anticipated costs. By letting shoppers know you have a BNPL plan, you boost conversion chances. 
• You can see higher average order values. Once customers know they can buy now and pay later, they could spend more time browsing your store for more purchases.

If you’re considering BNPL, you have several service provider options. Don’t miss Shopify’s informative post that outlines the pros and cons of the most commonly used providers.

In the eCommerce industry, social proof is the new currency. Statista’s global study revealed that conversion rates get a two-digit percentage boost on sites that share online reviews.

Google Customer Reviews, formally known as Google Trusted Badge, is an effective way to make customers stop and pay attention. The new badge is a site seller rating, appearing on Shopping and Search ads.

Interested in joining the Google Customer Reviews program? Sign into your Google Merchant account and join in a few easy steps.

With the eCommerce industry becoming more crowded than a Coachella concert, standing out is more important than ever. By sharing reviews, you build customer confidence, which can boost sales.

While Google sends shoppers surveys if you join Google Customer Reviews, it’s still important to help customers complete the survey and leave you a good review. Here’s how:

1. Optimize your site so it’s simple to comprehend and navigate. Bad site designs are a surefire way to send customers rushing for the back arrow.
2. Focus on site copy. Copy is like the sales associate at a physical store. Woo customers with engaging, informative content that encourages them to buy.
3. Simplify the checkout process. Give customers multiple payment options, if possible. Also, make checking out quick and easy, so customers complete their purchases and are more likely to leave a review.

And that’s another monthly wrap! For more helpful information and updates delivered straight to your email inbox, subscribe to our newsletter on our site. Interested in enhancing your eCommerce approach with help from skilled experts? Book a consultation with us.