How important is the eCommerce market for your business? Before we go any further, let’s look at some numbers to illustrate why growing your online sales is essential.
From just over 1.3 billion online buyers globally in 2014, the number of online shoppers is set to hit 2.14 billion in 2021. That’s an increase of close to 1 billion customers in just seven years. These figures also do not account for the effects of COVID-19 and the associated eCommerce boom.
As the eCommerce customer base grows worldwide, so too does the competition. You’ll have to contend with both other businesses making the transition to online sales and established eCommerce players. Your ability to attract customers will determine your success.
There are four primary marketing channels for an eCommerce store. You have direct traffic, search traffic, social traffic, and Pay Per Click advertising.
Businesses from startups to large corporations use Pay Per Click (PPC) and branded content to acquire customers and expand their reach. This type of advertising covers two significant market segments: customers who are ready to buy now, and those who need nudging towards a purchase.