Sales Strategy
2023 Ecommerce Strategies: Tips for Retailers and Advertisers to Thrive March 17, 2023 (0 comments)
New York, NY--A importance of data-driven e-commerce strategies for retailers and advertisers to succeed in 2023 cannot go unnoticed. With the current economic volatility and changing consumer spending habits, marketing intelligence for pricing, advertising, and promotions will be critical for businesses to stay competitive.
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An article shares four key tips for creating successful e-commerce strategies in 2023:
Enhance trustworthiness: Retailers should focus on showcasing customer reviews and ratings, using trust badges and seals, offering secure payment options, displaying contact information prominently, and maintaining a strong social media presence. Additionally, good shipping and return policies, enhancing the website's user experience, and shopping ad extensions can help build trust and increase conversions.
Optimize Return on Ad Spend (ROAS) by lowering advertising costs: Retailers can pursue a holistic search strategy, improve keyword quality scores, optimize product experience, ensure affiliate compliance, monitor brand term violations, and enforce MAP compliance to reduce advertising costs and boost ROAS.
Implement dynamic pricing optimization: Staying informed about current market pricing and using dynamic pricing strategies will help retailers maximize their margins while remaining competitive.
Develop strategic promotional planning: Consumers are looking for promotions and discounts in the current economic climate. Retailers should create strategic promotional plans to optimize advertising and conversions.
The article notes that retailers and advertisers should remain flexible, adaptive, and affordable to gain an edge against competitors and maximize their market share in 2023. Businesses can use a data-driven approach to develop marketing strategies to improve their chances of success in the ever-changing retail landscape.
Learn more in the article.