The fashion industry is fierce. It always has been, and it will always be. With a low entry barrier, rising cross-border competition, and a gloomy economic outlook, 2020 will be a tough year for the fashion industry. The lockdowns and pandemic have reminded brands of the importance of having a strong digital presence, and due to this, eCommerce will be a strong focus on their priority this year.
The metrics
When it comes to eCommerce, the math is simple, get more customers, get more of them to convert, and get them to buy more. In other words, traffic, average conversion rate, and average order size. The strategies to improve one of these metrics can differ, and marketers should be mindful of how each of these metrics interacts with others.
Solely focus on traffic will only lead to low-quality traffic that does not convert well. Concentrate only on conversion will lead to higher conversion but not unsustainable growth. Similarly, higher average order value can booth revenue but is sustainable without fresh traffic.
Therefore, marketers should focus on getting quality traffic, maximizing the conversion, and squeezing the most money out of it.
Personalization
Personalization has been a hot topic in recent years, and brands are getting better than in. Businesses have been more proficient in personalization more than ever due to easier access to personalization tools. Personalization has also been found to bring monetization benefits. According to Econsultancy’s report, 80% of the business reported an increase in revenue after the use of personalization.
So what is personalization, and how can a fashion eCommerce tap into the power of personalization? In fashion eCommerce, personalization can help to show customers the right discount that will pique their interest. If a customer enters an online store looking for a white blouse, a pop-up showing 20% a pant might not be as convincing as the same pop-up discount showing a black blouse.
Video for products
Video is everywhere, and it has become one of the most consumed media formats on the internet. There are many ways fashion businesses can use video to attract more traffic and increase conversion rates. For example, Asos.com is famously known for using video to showcase most of their products in addition to images.
By having a video of the product, Asos.com can convey information that is otherwise cannot be done over a photo, such as how does the dress look like when it’s worn while it’s on the move, how tough the fabric is and does it flows naturally.
Live Video
Source: News Cision
Live video is getting used by a lot of brands in Asia, and it’s getting big. The live video is usually broadcasted within a social media platform by influencers. There are a few reasons why live video is a powerful way to attract new customers. One reason is that it allows people to interact with the host, replying to enquires that the customers have. The host can also put new emphasis on the product showcase that are others difficult to be described through words itself.
Live video first started having traction in China, and slowly became an Asia phenomenon. With the COVID-19 and lockdown in place, businesses that are forced to close their door flocked to live video and propel it to a new height.
The Japanese C2C marketplace, Mercari, is also famously known for using live video within their App to promote their products to customers.
Video Advertising
Prada’s Facebook Advertisement
Unlike a static image, advertising using a video format can significantly enhance the visual and audio stimulation, enabling to further captivate users’ attention the way images can’t. Video advertising can be further optimized by only showing products that the users have seen on your website using tools like Repro to help brands find new customers based on people who are most likely to purchase the said item.
Brick & Mortar Partnership
Gucci’s partnership with Jojo’s bizarre adventure
Partnerships can be done in many different ways, depending on your brand messages. Fashion businesses can work together with other stores that are genuinely interested in their product. For example, fashion brands can work together with stores that sell soap or perfume by putting their products as a store display, introducing the piece. A cross-promotion can help each other to acquire new customers they would otherwise not been able to.
Partner with Influencers — the right ones
Tiffany & Co. partnership with Jenner
Social media partnerships with influencers have been one of the most used ways to gain new traffic and eyeballs around the industries for the past few years. However, with users getting social media fatigue and less engaged with social media these days, brands have to choose their influencers before initiating a partnership.
These days, working with influencers who are not passionate about your product will only lead to higher traffic with little to no conversion. This is because consumers are getting more aware of influencers taking sponsorship from brands when they introduce a product.
Getting Email Marketing Right
Email marketing should not only be about new promotions, arrivals, and abandoned cart emails. A well-devised email marketing campaign should be personalized. Strategies you can use using email marketing.
- Personalized wardrobe recommendations
- Invites customers to follow your social media accounts
- Discount on products saved as wishlist
- Informing the latest partnership with other brands/influencers
Referral Marketing
Referral marketing can be a powerful tool when used right. Many businesses have been able to tap into the power of referral and use it to be the main source of growth for their businesses. Referral marketing has to be executed at the right time and the right moment with the right deal, to ensure that customers will click the “Refer a friend” button. We usually use Repro to perform that. Repro is a customer engagement tool that can deliver messages to visitors when a certain criterion is met. Not only that, Repro can be used to show highly personalized messages, increasing the referring rate.
Personalized Advertising
Is no longer enough to a generic advertisement and put it on social media or advertising network. The advertisement should be more personalized and only show products to users who are more likely to purchase to maximize advertising costs. This can be down by turning visitors from your website into potential target audiences. For example, showing a video advertisement of the products they viewed on your website or a referral ad to those who just made a purchase at your website.
