The Australian e-commerce industry has witnessed unprecedented growth in the past few years. With online sales in the country expected to cross $32 billion in 2017, we’re in the list of the ten biggest and most attractive online markets in the world, alongside the United States, China, United Kingdom and Germany, among others. As e-commerce becomes increasingly popular in the country, it’s crucial for businesses to use this avenue efficiently, as a means to overcome saturation in the market. Marketing automation is one such handy tool that can ensure your business stays well ahead of competitors in the industry.
While the term gets used in the media and in boardroom conversations fairly often, marketing automation can sound ambiguous, making it hard to understand as a concept. In layman’s terms, this refers to using pre-existing consumer data to predict and subsequently trigger buyer behaviour in the future. Although businesses have had access to consumer data in the past, there was little that could be done with it in the absence of auto-generated prompts and other automatic tools. Manually reminding thousands of consumers about a purchase through personalised emails would be a laborious task for any business, resulting in this data being relatively underutilised previously. As a result, rewards programs were the conventional method to encourage customer loyalty. However, with online shoppers diligently keeping an eye out for the best deals they find on the internet, obtaining repeat purchases in the present day requires more than just the good old loyalty reward points program.
It’s hardly surprising then that technology comes to the rescue. Marketing automation requires significantly lower manual supervision, making it a cost and time effective tool to invest in. With this tool, your business can use existing data to predict upcoming purchases and remind buyers well in time with an automatically generated email. Your consumers can rest assured that they will receive a reminder from you to purchase a product in a few weeks or months and they no longer have to worry about creating reminders themselves. With marketing automation, you can use consumer data to their benefit, adding a new dimension to good customer service in the process.
Here’s how marketing automation would work on your e-commerce website:
Business logic here refers to predictions you can make about future purchases based on past buyer behaviour and your knowledge of the products or services itself. Such as knowing your customer will run out of a product three months after buying it, hence emailing them a reminder to restock in two months’ time. Evidently, the tool is most suitable for products and services that are used on an ongoing basis, making them a repeat purchase.
So what does this mean for Australian businesses with an online retail presence? For starters, pay more attention to customer actions across your website, since this will provide insight into their purchase behaviour. If yours is a business that supplies products with a high repeat purchase rate, investing in a marketing automation service would be the next logical step. Using technology to remind customers of upcoming purchases would be beneficial both to you and your customers, making it a handy tool to rely on. Simply put, marketing automation will make your e-commerce platform more robust and efficient.
Interested in knowing more about using marketing automation for your business? Contact Netable today to find out how this tool can benefit you.