NetElixir’s Founder and CEO Udayan Bose will be joined by GovX’s Vice President of Marketing Aaron Pelander to discuss new customer acquisition, the latest eCommerce trends, and fine-tuning the end of the year marketing strategy. 

GovX is the ultimate eCommerce designation for active duty, reserve, and retired members of the U.S. Armed Forces and related government agencies to provide them with extra online savings in return for their brave service to their country. Learn about GovX’s commitment to helping veterans and first responders get the best online deals, especially during the coronavirus pandemic, from our live Q&A with Aaron Pelander.

Pelander has led the marketing team at GovX for the past six years, where he communicates the value of GovX to those who can benefit from it. He works closely with all areas and channels of the GovX business to ensure that the member experience is world-class and rewarding. 

Pelander previously joined NetElixir’s webinar on June 18th, Lessons from Mid-Sized Retailers, where he spoke on his consumers completing purchases more quickly and buying more ‘want’ products rather than strictly essential products. At the onset of the pandemic, Pelander noted that GovX never pulled back on their spending, which helped the brand win more new customers. Join our live Q&A with Pelander on Wednesday to learn how GovX continued to evolve and fine-tune their marketing strategy to engage their new customers and how Q3 compared to his earlier expectations discussed in June.

Real-Time ECommerce Trends

NetElixir’s live webinar presentation will give you latest insights into the following:

• Letting the data dictate direction, as the path to a successful recovery starts with a successful holiday season
• A special insight share that will measure the impact that Election Day had online sales
• Real-time analysis of daily online sales metrics across seven retail categories (Women’s Apparel, Home Decor, Tools & Hardware, Food & Gourmet, Gifting, Pet Supply, and Home Furnishings)
• The continued impact that the coronavirus has had on online shopper behavior, conversion rates, and eCommerce sales
• Significant trends identified across retail categories

Register now for this live webinar.

Understanding the latest trends in how your customers are shopping and searching online will help you meet them at all stages of the purchase journey.

Updated Holiday Forecast for November and December

Receive a complimentary 2020 Holiday ECommerce Sales Calendar with the anticipated biggest online shopping days, shipping cutoff dates, and an analysis of gifting days vs me buy days. Learn the expected Y/Y changes day to day compared to the 2019 holiday shopping season and how the Cyber 5 weekend may turn into Cyber 10. NetElixir forecasts that the aggregate eCommerce sales for November and December 2020 will increase by 30% Y/Y, compared to 2019.

For a more in-depth analysis, join our live webinar next week, on Wednesday, November 11th at 2 PM ET. Register here: https://stage.netelixir.com//webinar/. 

Browse Our Past Webinars:

• Case Study with Cole Parmer: Harness the Power of Customer Data to Make B2B Search Marketing Work
• Pre-Holiday Consumer Trends and Retail Data Insights 
• A Different Holiday: Opportunities and Challenges in a COVID World

The post Live Webinar this Veterans Day appeared first on NetElixir.

VIP Roundtable Discussion

At the first event, Bose discussed how marketers are using their consumer data to make their search marketing better. To Bose, average order value is not as crucial a marker of success, as not all consumers are equal buyers. There is a distinct difference between high-value customers and average customers. Understanding the unique paths to purchase between your high-value and average customers is crucial to an all-around engaging and effective search marketing strategy.

While new customers are important to acquire, engaging your brand’s high-value customers should also be a priority. The lifetime value, order frequency, favorite products, and more purchasing behaviors can vary widely between high-value and average customers, which is easily tracked through NetElixir’s proprietary customer analytics tool, LXRInsights. LXRInsights, as Bose explains, categorizes your customers into “finite, more measurable groups [to] help you run a more responsible marketing campaign.”

A quick way to test your customer base’s actions and evaluation process is an old-fashioned one: pick up the phone and call 100 customers to ask. While 100 may not be much to map out entire customer journeys and experiences, it will allow for a solid, basic understanding of where your customers stand. The personal touch of a phone call will also go a long way in creating engagement and displaying empathy – two important metrics in these difficult times.

As the future becomes more digital, there can be an issue of presenting digital options and changes in a positive light, as many consumers may be hesitant to shop exclusively online. Creating a mobile first and frictionless shopping experience can help ease consumers into the digital world. 

“We are all trying to figure it out together,” Bose says.

In a survey on B2B global sentiment, McKinsey and Company found that at least 80% of respondents are more comfortable continuing with virtual models rather than in person meetings when making B2B purchasing decisions. 

A digital presence is essential now more than ever. B2B searches often begin with generic product names in a Google search (with 42% of those searching beginning on mobile, according to Google) so be sure to strengthen your keyword profile and research how customers are finding your website. 

The digital future cannot be ignored and the evolution relies on understanding your customer data.

Harnessing the Power of Customer Data to Make B2B ECommerce Search Marketing Work

Udayan Bose joined Cole Parmer’s VP of Marketing Andrew Carlson to present a Case Study: Harness the Power of Customer Data to Make B2B Search Marketing Work.

NetElixir managed paid search for Google and Microsoft in the United States, France, Germany, India, Canada, the United Kingdom, and Germany that drove a 20%+ improvement on ROAS and resulted in YoY growth in new customers acquired across all channels. NetElixir also managed Amazon Marketing that resulted in a 5X increase in orders and the SEO strategy for Cole Parmer for complete synergy across all channels.

NetElixir extended the lookback period for Cole Palmer to give products time to accrue revenue. Longer latency periods had impacted optimization techniques, so ad reports were often misleading. Orders with the highest value had the longest time from first visit to final purchase, so allowing for a longer lookback period captured the true customer journey that fully measured how well the product and ads performed.

Cross-channel synergy helped Cole Palmer see how well different products performed in Google and Amazon, as some performed better in one channel but not in the other. Building cross-channel analytics into measurement and optimization cycles creates an easy opportunity to move ad budgets to where products are performing well without scraping entire search marketing campaigns because one channel does not see a lot of success.

“Different customers use these different channels to buy different products,” Carlson explains. 

To help Cole Palmer thrive on Amazon, NetElixir started with brand recognition and then refined further toward exact products and specializations. The formula is simple: continuously expand upon winners throughout the refinement process to build upon success.

Real-time customer analytics empowers more targeted, efficient, and effective cross-channel campaigns for greater success in the future. 

Request your 2021 Digital Marketing Playbook to chime in the New Year.

Watch the full conversation here.

Read More from NetElixir

• Building Trust and Sizing People Up
• Get Results with Progressive Web Apps
• Prime Day’s Impact on Non-Amazon Website Sales

The post B2B ECommerce Search Marketing Case Study appeared first on NetElixir.

NetElixir found that Prime Day had an impact on eCommerce sites beyond the Amazon marketplace. Lingering Prime Day sales could continue to boost online traffic and sales, as the initial two day sales event had a rub-off effect across the digital landscape. 

What Did You Buy On Prime Day?

 Prime Day is a communal event, as friends and coworkers share the best finds. As a hotly anticipated sales event, Prime Day 2020 did not disappoint.

NetElixir found a 61% lift in revenue per day on the Amazon platform within our dataset, compared to regular shopping days throughout the week. While we had bullishly predicted a 90% increase in YoY online sales during Prime Day, the sales event showed a positive start to the holiday shopping season. 

Prime Day encourages splurges on large orders and this year saw a 14% higher average order value (AOV) for purchases compared to the days leading up to the sales event. During this hectic holiday season, consumers are inclined to wait for a sale as they are more conscious about their holiday budgets. With time for more browsing and research, shoppers are on the lookout for the best deals and promotions, leading them to search related products and deals across search engines and social sites. This research prompted a dramatic rise in non-Amazon website traffic and sales. 

NetElixir found that 53% of user traffic came on the first day of Prime Day (October 13th), while 57% of the revenue came on the second day (October 14th) within our dataset. Consumers seemed to spend the first day researching the best deals and products out there, while following through with purchasing on the second day. Day two of Prime Day saw 12% lesser clicks and a 7% higher conversion rate compared to day one. Additionally, majority of the high-value products were purchased on day two, leading to a 44% higher AOV compared to day one.

While Amazon may want to encourage impulse purchases, consumers are a bit more hesitant this year. Expect consumers to continue to research carefully prior to purchasing throughout the holiday season. Retailers should make promotions and sales information prevalent on their website for easy user navigation. 

Across the board, while not releasing their own numbers, Amazon announced that Prime Day generated more than $3.5B for third-party sellers, as this year the retail giant focused more on supporting small businesses. Those billions led to a 60% increase from last year’s sales for small and mid-sized businesses selling on Amazon’s platform – in line with NetElixir’s own research.

The Residual Impact of Prime Day on eCommerce Websites 

While those retailers who participated in Prime Day were able to boost their sales and brand awareness, many retailers saw success beyond the scope of the Amazon marketplace itself. NetElixir had advised retailers to continue promotions across search and social media channels to leverage the surge in online traffic during the two day sales event.

Prime Day triggered a site-wide growth across eCommerce websites that were not linked to Amazon marketplace. During the two days of Prime compared to non-sales days, websites saw the following increase in site performance metrics:

• Website sessions increased by 19%
• Site orders jumped 39%
• ECommerce revenue rose 42%
• Website conversion rates increased by 17%

Over the course of the two days of Prime, shoppers searched for brand and product information across other channels as they conducted thorough research prior to purchasing. Prime Day searches gained 23% more interactions across search engines and social media than non-sales days.

By creating a cohesive digital presence around Prime Day – advertising on non-Amazon channels, showcasing product deals on social media, and leveraging key words like “Prime” and “best deals” – retailers were able to tap into the surge in online traffic and demand generated by the sales event. By showcasing products related to what was on sale during Prime Day, retailers had opportunities to gain market share.

Consumers were already online; retailers didn’t necessarily have to sell on Amazon to reach Prime customers. A strong digital presence will be the key to success this holiday season, as well as timely marketing campaigns around expected surges in online traffic as giant retailers push their eCommerce channels more and more.

The post Prime Day’s Impact on Non-Amazon Site Sales appeared first on NetElixir.

DigitalCommerce360 found that over 100 million products were sold on Prime Day in 2018. Prime Day in 2018 made Amazon’s sales larger than both Black Friday and Cyber Monday of that year. In 2019, Amazon’s Prime Day boosted online sales across America, especially as Amazon’s competitors started their own version of an online sales event. This year even, Walmart is officially launching their own membership program, Walmart+. 

Historically, the two-day event in July kicked off the back-to-school season and provided valuable consumer insights in time for the holiday shopping season. Prime Day’s placement in July encouraged summertime splurges, helping participants acquire new customers, promote brand awareness, and get a sales boost. The buzz around Prime Day this year should continue to encourage consumers to shop online, increasing their familiarity with online services even more in time for the holidays. 

Given Amazon’s importance as a market mover, NetElixir believes that they will try to kick-start the holiday shopping season with their delayed Prime Day. An extended holiday shopping season will ensure customers find a good deal and have enough time to ensure deliveries.

Statista found that the most popular product category in 2019 was electronics, followed closely by clothing, shoes, and accessories; while the coronavirus pandemic will most likely shift the popularity of different categories, it is no secret that consumers are flocking to Amazon for ease of navigation and finding necessary products. Good deals could boost sales in retail categories that have been struggling throughout the pandemic. Amazon has quickly become the “shopper’s search engine,” a market retailers can no longer afford to ignore.

Amazon Best Practices

With Amazon Prime membership at over 112 million people and continually climbing, retailers have a tremendous opportunity to turn their Amazon marketplace presence into a reliable channel. The coronavirus pandemic accelerated the adoption of Prime memberships, especially during the weeks of March 16 and 23, reports Forbes.

Prime Day is a great way to get noticed and gain market share among consumers. Deals will drive the initial discovery, but your brand’s value and service will get customers to stay throughout the holiday season. 

Amazon is an excellent testing ground of new products and campaign performance, as it garners user reviews and feedback that can be used for your main website and e-commerce channel. By learning what customers are shopping and searching for now – and who these customers are – marketers will be better prepared to give customers exactly what they want. 

Anticipating sales and interacting with new brands will get customers prepped for the holiday season, while jumpstarting retailer’s advertising initiatives. 

Sustaining growth and product ranking is different on Amazon than it is on Google and Bing, as Amazon’s new A10 algorithm places more weight on indirect factors such as relevance to shopper’s search inquiry, prior customer behavior, and product rating off Amazon.

Learn more about best practices for Amazon by reading:

• Amazon SEO
• Amazon Automatic Targeting
• Using Amazon to Fuel Organic Growth

The post The New Amazon Prime Day appeared first on NetElixir.

Google Data on the Impact of COVID-19 on Purchase Habits

Dillon is offering, as he says, “practical implications of the impact of the pandemic on consumer and shopper purchasing behaviors.” Google compiled data based on search queries and a consumer survey through Ipsos.

Back in April, 63% of consumers were buying only the essentials – think toilet paper, groceries, hand sanitizers, and wipes. In June, only 50% of consumers were strictly buying essentials. 

As indicated above, while 50% of consumers are still focusing on the essentials, they are currently shifting their attention to different wants and needs. Most importantly, they are planning for future purchases by researching now. Retailers have the opportunity to showcase their product range beyond the essential market and offer inspiration to consumers.

Opportunities abound as Google’s data reveals that 41% of retail web visitors were new to the online shopping experience throughout March and July. These new to online shoppers are an entirely unique demographic providing what Dillon names a “once in a lifetime digitization opportunity.” These shoppers are open to exploring new brands, with 32% of American shoppers saying that will continue to buy from a brand that they discovered during the pandemic. Retailers have an opportunity to cultivate brand loyalty and reach a wider audience than ever before.

Nearly half of the consumers polled by Google and Ipsos say they expect discounts to be offered – and these consumers are committed to keeping up with promotions via store websites and apps, emails, online searches, and digital and paper flyers from stores to wait for those sales. It is imperative that retailers keep pricing information as updated as possible and ensure sales information is widely circulated. NetElixir recommends:

• Using paid search and social media ad campaigns to notify new and potential customers of upcoming sales and reach a broad audience;
• Ensure your website is current in regards to pricing information and that any promotions are notably displayed on your website;
• Make your email subscription button prominent and give subscribers the latest information on upcoming sales, inventory, and new products.

Customers are willing to wait for the best deals. If they cannot find the information they want on your site, they will turn elsewhere.

People now have a new set of heightened expectations, especially in regards to quality, inventory, and shipping. Global search data has increased 700% year over year for “best grocery delivery,” according to Google’s data. Searches for “with free delivery” have increased 300% year over year. Additionally, shoppers want to be notified of shipping delays as much as possible. Consumers expect more convenience in their online experience.

Shoppers have moved beyond the essentials to explore more of their wants and needs and are willing to try new brands. Because consumers expect updated inventory and delivery information and discounts (and will wait for those discounts to be available), an ongoing communication and strong relationship with brands are critical factors to maintaining customer loyalty throughout the holiday season.

“This is a once in a lifetime digitization opportunity.” Bob Dillon, Google.

The Evolving Role of the Brick-and-Mortar Store

Google reports that 52% of survey respondents said that they had visited a store or mall in the last two days in January; in April, that number dropped to just 28%. June saw an increase in foot traffic with 36% responding to just recently visiting a physical store. Shoppers are feeling safe to return – but safety is still their priority.

“There’s a hyper focus on their safety. They want to be in, they want to be out, and they want to be safe,” Dillon says. 

To be safe, consumers are aiming to spend less time in stores and more time planning their trips through online research into promotions, what is in stock and in store that day, and BOPIS options. In-store shoppers are willing to make sacrifices such as not always getting the lowest price, exploring availability with other brands, not always shopping at their preferred store if the space is too crowded, and curbside shopping. 

Curbside shopping, a product of the pandemic, may be here to stay long after the pandemic. Retailers are investing in resources for a more seamless and efficient curbside experience, while consumers are practicing the behavior more and more; the actions of both parties create more value in that behavior. While sameday curbside pickup may not be a necessity, it can certainly be a competitive advantage.

The Google Shopping Experience is reducing friction for omnichannel shoppers by providing store information on availability and distance, BOPIS and ship-to-store options, and curbside pickup services. When retailers make this information available, they have the opportunity to “tell the full story of what they have to offer,” Dillon explains. This allows customers to know exactly what to expect and they can comfortably plan their shopper excursions accordingly.

“I hope that these insights lead you to helpful actions to understand the broader landscape and to drive your business to success,” says Dillon.

Holiday 2020 Expectations

As the coronavirus pandemic continues, the shopping behaviors and insights learned during the pandemic are expected to be the same looking forward: ecommerce will continue to rise, with online shoppers looking for a frictionless experiences and in-store shoppers looking for a safe experience.

As consumers plan for their holiday shopping, 73% say they will shop more online this season. Their behavior will change slightly, as noted in the chart below:

Of importance to holiday shoppers is the ability to conduct strategic online research beforehand to know of inventory and sales opportunities. Shoppers will be patient for a discount, as they will most likely start shopping even earlier this year.

Online shoppers want a reliable experience. Many had a bad experience during the height of the pandemic in terms of shipping delays, so they expect to be notified of any delays, out of stock items, and return policies; these three factors should be prominently displayed on websites and repeated to customers. 

In-store shoppers want a safe experience. Contactless and self-serve checkouts will most likely continue to rise in popularity, as well as BOPIS options. For BOPIS, customers want dedicated lines for just in-store pick up so that they do not have to wait inside for a long time. If possible, customers are also interested in booking appointments to shop online so that they can avoid crowds. 

New shoppers are willing to try new brands so retailers have a unique opportunity to capture and retain customer attention. Messaging of ad campaigns should promote safety and efficiency, prioritizing the customer experience above all else. Media should begin as early as mid-September – or sooner, if possible – to entice early customers and to allow retailers to begin collecting data so as to make data-backed decisions later on in the holiday season. 

“Expect an unpredictable ride,” Dillon says. 

The time to prepare for the holiday season is now! Dillon predicts that the holiday season, “rather than [having] a number of very intense spikes on days like Black Friday, it’s going to be much more of a consistent drumbeat that starts much earlier.”

Google’s Holiday Retail ToolKit

For a solid foundations for retailers this holiday season, Google has compiled free holiday resources:

• Google Rising Retail Categories: realtime data on search queries that shows the rise and decline of categories on a daily and global basis, as well as the keywords driving those changes
• Google Grow My Store: improve your digital window to the world to benchmark how your store compares to your competitors based on your mobile performance, updated information, flexibility, and more

Google’s Holiday ToolKit is available to you now to help you succeed this holiday season. 

Additional Holiday Readiness Resources

On August 13th, NetElixir hosted Connecting the Dots: Holiday Readiness Summit for Retailers to bring together retail industry leaders, marketing mavens, supply chain experts, and strategic thinkers to share their advice, strategies, and holiday marketing resources to help retailers connect the dots for this financially critical holiday season. Each week, we will recap one of these ‘dots’ with any additional information and insights relating to the holiday season so retailers can continue to adapt their strategy and have a successful end of the year.

To help guide retailers, NetElixir compiled consumer insights, four months of research, thoughts and experiences from retail industry leaders, and strategic perspectives from academics into our eBook, Along the Road to Recovery.

The more pieces of information that you have, the more you can connect the dots for a stronger holiday plan. Our Connect the Dots conference may be over, but the holiday season is just beginning. The holiday help continues in our new webinar series Connect the Dots: Holiday Strategies from Retail Leaders. On Thursday, September 10th, NetElixir will be joined by Lenovo’s founding executive of global online strategy, Ajit Saviadasan, to discuss A Different Holiday: Opportunities and Challenges in a Covid World. Register now at https://stage.netelixir.com//webinar/.

Further reading on holiday insights:

• Back-to-School Readiness
• The Holiday Season Starts Now – Celebrate the Small Holidays Like Friendsgiving
• 2020 Holiday Data: Consumer Trends & Digital Marketing Strategies

The post Google’s Digital Insights for Q4 Readiness appeared first on NetElixir.

different parts of the country. With the reopening of brick-and-mortar stores on pause in some locations, online shopping once again becomes customers’ only outlet. NetElixir’s metrics for our six retail categories below account for the first two weeks of July, comparing daily data of July 1 to July 13, 2019 to the same time period for July 2020.

July 2020 Retail E-Commerce Updates

• Retail spending in both online and offline spaces has increased. The Wall Street Journal reports a 7.5% increase in United States retail sales in June as brick-and-mortar stores reopened. CNBC, however, forecasts a 5% increase in retail spending. Retail e-commerce continues to increase. 
• The average order values (AOV) continue to decrease year over year for most retail categories, while the number of new online shoppers and transactions increase across all categories within our dataset.
• Retail e-commerce continually attracts new customers. E-Commerce sales will continue to grow, especially as companies innovate new means to meet their customers. Ordering online for curbside pickup is a steadily growing new retail channel.
• The summer weather seems to have boosted the Apparel retail category’s e-commerce metrics, as the first two weeks of July saw the largest year over year increase in transactions and new online orders yet. 

Food and Grocery

• A 30% increase in website conversions.
• A 40% increase in the number of transactions.
• A 30% increase in AOV.
• A 60% increase in the percentage of mobile orders.
• A 33% increase in new online orders.

The Food and Grocery retail category is seeing some of its lowest growth yet, despite a year over year increase in all online sales metrics. With outdoor dining an option, there is less of a need for people to consistently cook within their own homes. Food and Grocery sales will continue to increase year over year, but most likely not at the rate we saw at the beginning of the pandemic, as eating and cooking within the home is no longer the only option for people.

Apparel

• A 50% increase in website conversions.
• A 138% increase in the number of transactions.
• A 9% decrease in AOV.
• A 28% increase in the percentage of mobile orders.
• A 137% increase in new online orders.

For the first time since tracking the online metrics, the Apparel retail category is seeing triple digit growth. With more and more locations reopening (including the reopening of malls) and even some offices, people want to sport new looks and refresh their wardrobe. After months inside, who can blame them?

Gifting

• A 16% decrease in website conversions.
• A 39% increase in the number of transactions.
• A 15% decrease in AOV.
• A 18% increase in the percentage of mobile orders.
• A 71% increase in new online orders.

As consumer attention shifts to restaurants, clothing, and home improvement, the Gifting retail category has suffered some setbacks throughout the course of the coronavirus pandemic.

Home Furnishing

• A 23% increase in website conversions.
• A 97% increase in the number of transactions.
• A 2% decrease in AOV.
• A 109% increase in the percentage of mobile orders.
• A 115% increase in new online orders.

The Home Furnishing retail category sees sustained growth and a dramatic rise in mobile reach and orders by new customers. It is quickly surpassing Food and Grocery as the fastest growing sector.

Pet Supplies

• A 13% increase in website conversions.
• A 41% increase in the number of transactions.
• A 4% decrease in AOV.
• A 12% increase in the percentage of mobile orders.
• A 81% increase in new online orders.

E-Commerce sales for the Pet Supplies retail category is holdy relatively steady month over month, from June to July 2020. There seems to be no shortage of new pet owners, as orders from new online customers continue to increase.

Tools and Hardware

• A 3% increase in website conversions.
• A 65% increase in the number of transactions.
• A 1% increase in AOV.
• A 12% increase in the percentage of mobile orders.
• A 80% increase in new online orders.

The Tools and Hardware retail category is the only one besides Food and Grocery to see all around positive e-commerce metrics for the beginning of July 2020. 

Upcoming Presentations

For the next Covid-19 E-Commerce Updates Webinar, join NetElixir with our partners at BWG Connect on Tuesday, July 28th at 12 PM for Navigating Through a Shifting Environment: Real Time Data on eCommerce Sales & Online Shopper Behavior presentation.

NetElixir is proud to announce our first virtual holiday readiness summit. Connecting the Dots: Holiday Readiness Summit for Retailers is a ½ summit that brings together preeminent retail industry leaders, channel marketing specialists, supply chain experts, and strategic thinkers from Google, Microsoft, UPS, Columbia Business School, and more. Through this webinar, we aspire to help retail and business leaders rethink their holiday approach and innovate new strategies to move forward during this unpredictable year. RSVP for this summit on August 13th and follow us on social for more updates.

Read More On Retail E-Commerce During the Coronavirus Pandemic

You can join the conversation on social media using #NxInsights. If you have any further questions, please feel free to email us at shareinsights@netelixir.com.

For further reading, you can see our prior retail analytics updates on retail e-commerce and online shopping behavior:

• How Vigilant Organizations Gain an Edge
• June 2020: How the Coronavirus is Impacting Retail Ecommerce 
• Fashion and Apparel During the Coronavirus Pandemic
• Road to Recovery: Lessons from Mid-Size Retailers

The post July 2020 so Far: E-Commerce Updates during the Coronavirus Pandemic appeared first on NetElixir.

According to May 2020 data from Pymnts.com, 66.4% of US small/medium business (SMB) owners said they will rely on e-commerce more after the coronavirus pandemic. As SMBs worldwide rush to get their business online, Facebook wants to grab a large piece of the pie in this “new” e-commerce world. Facebook launches Facebook Shops as an online business solution.

In what appears to be a major shift to enable social commerce and amplify the power of social platforms for simplified shopping experiences, Facebook and Instagram rolled out Shops earlier this week. The challenging economic climate is forcing businesses to rethink and innovate ways to go digital. Facebook couldn’t have launched this new digital distribution point at a better time. Over 1 million businesses have already signed up for Shops within 48 hours of the launch!

Quick Facts of Facebook Shops:

• Businesses will be able to create a Facebook Shop for free, but will pay a “small fee” on each transaction. The Shop can be discovered by customers through ads, stories, Marketplace, or photos tagged on social feeds.
• The closest parallel we can draw to the Facebook Shop is an Amazon Brand Store that offers a complete brand experience outside of the business’s actual website. 
• Facebook will be working with partners like Shopify, BigCommerce, WooCommerce, ChannelAdvisor, CedCommerce, Cafe24, Tienda Nube and Feedonomics to give small businesses the support they need.
• Any seller, irrespective of their size or budget, can move their business online and engage with new and existing customers in a fun social ecosystem.

Our Thoughts On This Launch:

This new digital storefront is here to stay and will benefit from the impact it has for businesses who have been hit hard due to the pandemic. While key stakeholders such as banks have extended small business loans, this announcement has the potential to revive small businesses in an unprecedented way by creating demand in an otherwise cautious spending environment. 

Facebook is looking at major social dominance as it will now have access to shopper insights from millions of users. Brands could benefit from integrated payment options, selling through live video from creators, and offering customers the option to connect their loyalty programs to their social accounts. Influencers will become an integral part of this arrangement as they can drive their followers directly to the Shops on Facebook and Instagram.

As Facebook continues to expand and add focus on SMBs, NetElixir is here to help. We have been partnering with retailers for over 16 years and are prepared to provide guidance, insights and more.  NetElixir is a Facebook marketing partner and a Feedonomics partner, and our team is ready to get your retail business started with Facebook Shops. 

The post Facebook Shops: A New Digital Storefront That Small Businesses Cannot Afford To Miss! appeared first on NetElixir.