Remember when e-commerce was all we talked about?
Ten years ago, it seemed as if every company in the world was trying to figure out its "e-commerce strategy”. Analysts were touting the newest 3D catalogs, where shoppers could twirl images around to check out sizes and colors from all angles.
And it seemed like every day there was a new startup offering e-commerce related solutions. Then, the talk turned to social and content, and the search for e-commerce optimization declined.
Going Down, Down, Down
In fact, according to Google Trends, interest in e-commerce is roughly 60 percent of what it was seven years ago.
But does that mean the e-commerce problem was solved? No. In fact, e-commerce is being as disruptive as every other space.
Does it mean that e-commerce is losing steam? No. In fact, in the digital content and commerce industry, one of the things that tends to get lost in all the talk of managing experiences — and the need for brands to evolve into more sophisticated ways of presenting them — is just how rapidly e-commerce continues to grow.
As Forrester just recently predicted, there will be $249 billion of e-commerce sales in 2014, almost doubling to $414 billion by 2018.
And certainly that growth is partially due to successful companies evolving related trends including mobile and social.
Revving the Revenue Engine
More e-commerce brands are creating powerful buying experiences online. Consumers who were once cautious about purchasing something online now find every reason to shop from myriad devices. The competition for those buyers' attention is rising just as quickly.
Whether it’s an online magazine on a tablet platform, a social e-commerce experience or even a more traditional content-driven web site, today’s e-commerce providers must be faster, more flexible and more relevant than ever before.
In fact, a recent comprehensive study of e-commerce driven businesses done by MarketingSherpa found customer acquisitions costs are rising more broadly. Businesses that had decreasing customer acquisition costs were more likely to rely on organic search or content marketing than those with steady or increasing costs.
To put it simply, creating a multichannel and relevant e-commerce strategy is now truly about creating a multichannel and relevant content and marketing strategy.