New year, new me? eCommerce trends for the new year
Did you know, a study presented by Strava, stated only one in ten people keep to their resolutions with many not making it past the first month! In this blog we will talk about the eCommerce trends that you need to consider this January.
Many people are motivated to make positive changes in their lives at the start of the year with the most popular resolution being ‘improved physical health’ which suggests that many customers will be spending more on health and wellness in January and considering trying new products or services helping them to achieve their goals.
Targeting new customers
The NYNM campaign is an excellent opportunity for a brand to connect with consumers. Acquiring new customers is a critical part of growing a business, here are some strategies to help you this January:
- Use social media and other digital marketing channels.
- Collaborate with influencers or partners
- Offer special discounts or deals
- Host a lunch event or promotion
- Create educational content
Targeting existing customers
Studies show it is more cost-effective to target an existing customer rather than acquire new customers. Existing customers are more likely to make repeat purchases as they are already familiar with a brand and are often more inclined to make additional purchases. In time, these customers can become more loyal, so investing in building relationships has long-term gain.
Here are a few strategies for targeting existing customers:
- Offer special deals or discounts
- Create a loyalty programme
- Personalise your messaging
- Ask for customer feedback
The NWNM trend is a great strategy to increase sign-up acquisition for email. This makes it an ideal time for businesses to launch email marketing campaigns to promote their products and services. Leveraging the ‘new year, new me’ mindset, email marketing can create urgency and encourage people to purchase. Further, email marketing platforms such as Klaviyo, Bloomreach and Mapp, allow a brand to personalise emails based on the specific needs and interests of the individual recipient driving more conversion.
As best practice, a brand needs to create one single master list to help manage, maintain, and report with customers tagged as either a prospect or customer. Then, focus on the welcome series split by prospect and customer to take the individual on the brand’s journey.
Nosto eCommerce trends
“Brands have been focusing on ROI more than ever in 2022, and we’ve seen lots of merchants looking to consolidate their tech stack. Merchants are focusing on data and are looking to nail 360-degree personalization, shifting from the use of point solutions that only cater to individual areas of customer experience.
This is where we saw features like search come in. If a user searches for ‘scarves’, merchants now want that query to influence things way beyond the products it immediately returns. If your search is integrated with your personalisation technology, it will inform the content that the user experiences or, for example, which products are surfaced if/when that user returns to the store.
In 2023, brands will also have to work harder to reassure their customers., so we expect to see an increased appearance of user-generated content and social proof. For example, one of our fitness clients is looking into Nosto UGC at the moment for the launch of a sweat suit, to show customers how much you can sweat and the suit itself in action, being used by real people!”
REVIEWS.io eCommerce trends
“Accentuate Targeted Communication. Sound familiar? Good, it’s still trending.
Distributing reviews based on conditional logic elevates the customer experience by issuing the capture of data when it is most convenient. Customer surveys and reviewer attributes are a means to drive zero-party data allowing a tailored campaign strategy suited to the current priorities of the customer. Providing a well-curated customer experience to increase conversion rates and loyalty. Loyal customers amount to 8% of the total 41% of an eCommerce store’s revenue. Nurturing that 8% will greatly benefit the overall conversion rate.
Our prediction at REVIEWS.io is that in 2023 AI will be encompassed in comprehending & identifying review insights.”
The New Year, New Me trend will always come around each year. This means a brand should have a specific, bespoke strategy based on the month of January, following the run of December. There is a plethora of tech platforms out there to help you achieve the needs of your business, if you are lacking resources or witnessing stagnant growth then reach out to us at email@example.com and we will run an audit to overcome these pain points.