The Evolution of E-commerce: Insights from a Marketing Expert

In the ever-evolving landscape of e-commerce, the fusion of marketing and sales strategies has become paramount for brands aiming to succeed.

In this week's episode of the Generation Influence podcast, Chairman & Co-Founder Bill Hildebolt sat down withScott Erickson, Sr. National Account Manager - Amazon, Home & Garden for Spectrum Brands.

Scott revealed his insights around the nuanced strategies that fuel successful e-commerce campaigns given the developments and shifts of the marketing industry over the recent years.. Let's delve into the key insights from the conversation that shed light on the convergence of marketing, sales, and innovation in the digital age.

  • 2023 marketing strategies and innovations
  • Customizing marketing strategies for different platforms
  • Looking at the future of eCommerce

2023 Marketing Strategies and Innovations

Scott and Bill chatted throughout the podcast around different strategies and industry developments as the marketing industry continues to shift throughout the year.  A couple of highlights included: 

  • Augmented reality
    • AR has transformed the way consumers experience and interact with products. Scott highlighted the potential of AR not just as a tool for evaluating aesthetics but also for practical applications, like room measurements and accurate calculations. The technology could empower consumers by providing them with real utility, helping them make informed decisions while minimizing wasteful spending.

  • Balancing ROI Goals
    • Marketing in the e-commerce realm often requires balancing short-term ROI goals with the brand's long-term promise. Scott shed light on the challenge of allocating budgets between various channels. While direct return on investment might not always be the primary goal, preserving brand visibility and space on platforms like Amazon becomes crucial for long-term success.

  • The Secret to Longevity
    • Scott shared fascinating insights into 3M's success, an enterprise boasting a vast and diversified product portfolio that seems to defy conventional wisdom about conglomerates. A commitment to research and development (R&D) and innovation emerged as the secret to 3M's longevity. The company's collaborative approach, underpinned by a periodic table of key technologies accessible to all divisions, ensures a steady stream of breakthrough products.

Customized Marketing Strategies for Different Platforms

Navigating different e-commerce platforms requires tailored marketing strategies. Scott emphasized the significance of understanding each platform's unique audience and shopping behavior. Customization isn't just about adapting content but also about targeting the right keywords and timing based on consumer habits. Flexibility in content creation helps bridge the gap between corporate speak and consumer speak, ensuring resonance across diverse platforms.

We see the same in our influencer marketing data where we see that different social platforms exceed in different areas, and brands should shift strategies depending on their KPIs.

Here are a couple of quick tips for influencer/social promotion by platform.  More info can be found in the article above:

  • YouTube and video placements in general are better at demonstration and relaying more information 
  • Instagram has the lowest CTR of the platforms 
  • TikTok influencers are hustlers. They are on average more cost efficient, more flexible and more friendly than any other platform 
  • TikTok is currently the place where you have the best chance for content to go insanely viral

Importance of Influencer Marketing in eCommerce

In the digital age, influencers hold immense power to translate brand messages into consumer-friendly language. These content creators bridge the gap between brand promise and consumer needs, offering valuable insights into how products fit into everyday lives. Influencers' ability to connect with niche audiences facilitates personalization, a growing trend that resonates with consumers seeking tailored experiences.

eCommerce platforms serve as both retailers and marketing channels, providing a unique challenge in terms of content restrictions and opportunities. Scott revealed the significance of optimizing content to fit within these constraints while harnessing the data insights that e-commerce offers. Understanding peak shopping times and adapting strategies accordingly ensures investments yield maximum returns, making data-driven decisions an essential part of modern e-commerce.

Both influencer and eCommerce can be combined to create campaigns that are optimized in both creativity and the achieving of lower-funnel goals.

Looking at the future of eCommerce

As consumer behavior shifts, the role of marketing continues to evolve. Scott highlighted the significance of aligning marketing and sales efforts, a trend that extends beyond traditional strategies. In today's world, the bottom of the funnel, influencer marketing, and data insights are gaining prominence, reshaping the marketing landscape to prioritize personalization and consumer engagement.

As businesses continue to navigate this landscape, conversations like these remind us that success in e-commerce hinges on the fusion of innovation, data insights, and marketing prowess. As we move forward, embracing the evolving dynamics of e-commerce can propel brands toward sustainable growth and resonant consumer engagement.