Instead, it’s smart to take a step back and realize these blurred lines are part of the same overall goal: increasing sales. We can embrace them with a new strategy in which digital marketing influences all sales, regardless of where they take place.
How shopping is changing
You already know that the COVID era has accelerated a shift to digital-first shopping and buying that was a long time in coming. Embracing a new paradigm starts with understanding that digital plays a role in almost every purchase, whether at the research, comparison, or transaction stage.
Recent data and research bear this out. Retail e-commerce sales are on track to hit over $900 billion this year, an increase of nearly 14% over the already-hot market growth of 2020. Smaller retailers are likely to see higher conversion rates than the giants like Amazon, Wal-Mart, and Target. And, even if you’re a bit slower to the party, it isn’t too late by any measure: by 2023, e-commerce sales are forecast to climb from 13% to 22% of all purchases.
The biggest players in e-commerce are embracing the idea that digital marketing drives both online and in-store purchases. According to research by The Digital Shelf Institute, advertising on retailer sites has a halo effect, driving sales on other platforms and in other channels, such as brick and mortar. In fact, this halo may be as high as $3 to $7 for every $1 spent in digital advertising on Amazon.
Insight into sales channels
So, with proof that digital is influencing sales in all channels, let’s look at the next challenge: breaking down internal barriers. Digital and brick-and-mortar teams have traditionally been siloed—and sometimes even in competition for the same finite resources—but this can (and should) change.
The lever for change is access to insights from business intelligence. This is an area where many marketers struggle, but it’s make-or-break stakes for brands, especially considering how volatile the consumer market is.
For CPG and e-commerce marketers ready to level up their business intelligence insight, Line Item is a lifeline to more profitable e-commerce. This performance analytics platform gives marketers a single tool for insights into what’s working for brands—and what’s holding them back. This includes:
-Insight to optimize SEO strategy and search results
-Ability to identify new or unknown competitors
-Attribute-level insight to understand what drives value
-Ability to monitor third-party activity and pricing
-Visibility into gaps in content, imagery, or product descriptions that might be hurting rankings and much more
With detailed insight via a single platform, Line Item can enable a new, BI-driven approach to marketing that embraces digital marketing as critical to every purchase pathway.
How to embrace a digitally influenced strategy
Let’s get into the details to demonstrate how embracing a digitally influenced strategy empowered by Line Item can change how you resource your marketing—and determine success.
Consider how online and digital initiatives can ultimately influence all purchases. For example, research from GE Capital has revealed that 81% of shoppers start their research online. This means that your SEO campaigns, page rankings, and online product content really matter. If they’re not putting you on page one for organic and paid rankings, you’re missing out—and that’s going to affect in-store sales as well as online purchases. This is where Line Item can really make a difference, with insight into how your campaigns are performing, if you’re getting your share of page one, and if there are gaps in descriptions that are affecting consistency (which will affect your rankings).
Think about what gaps in your tools and resources might be holding your brand back. Do you know how your campaigns are performing, and if they’re profitable? If out-of-stocks are hurting your revenue? If your reviews are hurting your reputation and your sales? Insight into these drivers is critical in helping you boost your marketing return on investment. Line Item gives you the kind of smart insights to drive more sales.
Some of the biggest giants in e-commerce are recognizing the power of digital in influencing their sales and are adopting an omnichannel strategy. We think it’s most powerful when this omnichannel approach is also underpinned by the power of Line Item, with detailed insight into e-analytics and what’s driving your sales. Learn how Line Item can be your lifeline to more profitable e-commerce—and more sales in any channel.