A Guide To eCommerce Marketing Strategy Frameworks
eCommerce marketing strategy frameworks function as a compass to point you toward your marketing objectives. Without an eCommerce marketing strategy framework, carrying out profitable marketing initiatives and campaigns is unpredictable.
Every business has unique marketing objectives and strategies. A framework for an eCommerce marketing plan gives the process of eCommerce marketing, which involves several moving parts and collaborators.
Instead of creating new frameworks from scratch for every new marketing project, marketers may save time by modeling their frameworks inspired by existing frameworks.
eCommerce Marketing Strategy Framework
A framework for an eCommerce marketing strategy describes crucial steps and touchpoints in the buyer’s journey as well as marketing activities and processes. A 360-degree perspective is maintained, and nothing is lost when marketing initiatives are performed using a marketing strategy framework.
There are numerous frameworks for eCommerce marketing strategies, each of which focuses on a different technique for marketing. While some frameworks include elements of others, some can stand alone. Before selecting an eCommerce marketing strategy framework that assists in achieving goals, businesses must first define their priorities and objectives.
Benefits of an eCommerce Marketing Strategy Framework
eCommerce marketing strategy frameworks help in creating a successful marketing strategy.
Frameworks for eCommerce marketing strategies assist marketers in:
- Creating eCommerce marketing strategies by determining the crucial steps for each stage of the client journey.
- Reviewing the whole customer journey and previous marketing results to find obstacles to conversions.
- Recognizing chances to influence clients to take the desired actions
- Fostering harmony between collaborating teams to avoid hand-off gaps.
- Making the experience as seamless as possible.
Best-Rated eCommerce Marketing Strategy Frameworks
RACE Planning is a mnemonic that stands for Reach, Act, Convert and Engage. It was developed by the learning platform Smart Insights. These four steps refer to the online marketing activities you should carry out as you interact with customers through various channels and at different points in their buyer journeys.
- Reach: The primary objective of the Reach process is to increase brand visibility and awareness. Creating website traffic, outside links, social media engagements, and earned media are all included in this.
- Act: Act refers to convincing site visitors to complete a particular action on a sales page, social media account, or website. Primary information for this stage includes the bounce rate, average time spent on a web page, and the number of subscribers.
- Convert: Convert is concerned with turning ardent supporters into paying customers. Key performance indicators include the number of leads, sales, and revenue growth.
- Engage: To boost client retention, Engage is the practice of building sincere relationships with them. Two crucial performance indicators are the customer churn rate and the repeat customer rate.
One of the most popular eCommerce strategy frameworks, Marketing Funnel shows you the paths customers take while engaging with your business. There are four stages in the marketing funnel:
- Awareness: Awareness occurs when a prospective consumer views a social media post or banner advertisement or learns about your company from an influencer or a friend.
- Interest: A potential customer is intrigued by your brand and is exploring other websites or reading reviews to find more information.
- Consideration: A prospective buyer recognizes their issue and your brand as the solution.
- Action: The potential customer purchases a product or schedules a meeting with you.
A foundation for a customer-focused eCommerce marketing approach is the flywheel model. The flywheel model’s functions are all designed to optimize the customer journey by removing obstacles like inconsistent brand messages that slow down the buying process.
The customer journey is divided into three stages by the flywheel model:
- Attract: It focuses on using organic or inorganic eCommerce marketing techniques to draw attention.
- Engage: Emphasizes developing a connection with your audience and telling them about your products.
- Delight: Focusing on assisting and facilitating enjoyable experiences and meeting their needs
Customers consider several factors when making purchases. The majority of customers begin their buying process by looking for product reviews and social media recommendations.
The following steps are part of a consumer’s decision-making process:
- Trigger: Users become aware of an issue and need a product or service to solve it.
- Initial criteria established: People think about their initial consideration set or the recognizable brands that immediately come to mind when they are thinking about making a purchase.
- Evaluation: To choose which brand best meets their needs or wants, consumers research information from different sources, review websites, and conduct online searches.
- Purchasing: The customer selects a brand and places an order after narrowing the options using data from the Evaluation step.
- Ongoing exposure: After purchasing the product or service, buyers form post-purchase expectations that affect their choice to purchase in the future.
- Loyalty loop: Depending on how effectively the product meets the demands of the user, they may grow to be devoted customers and brand ambassadors, bringing in additional clients for your company.
eCommerce marketing strategy frameworks help in predicting variations while maintaining a predetermined formula as the landscape of eCommerce marketing evolves. Even the most seasoned eCommerce marketing strategist may use frameworks to help them make decisions and optimize their marketing efforts.
Implementing eCommerce marketing strategy frameworks in your marketing practices can help you understand what each individual wants and understand your audience in the diverse sea of online consumers.