Technology makes the impossible possible!
In this era, everything around us is technology; it is not that we are using it, we are living it.
The first impression is the last impression, and this cannot be a better fit when it comes to marketing your product internationally. Everyone today is on social media. People often say that they buy things because they liked them in the picture and not actually because they needed it. This is why tech-savvy strategies and intelligent digital marketing are crucial for successful cross-border e-commerce.
Cross-border e-commerce allows you to sell internationally through a website, However, to get into the international marketplace you have to prepare the battleground. Even though there are lucrative opportunities that can maximize revenue and generate great ROIs. There is a lot to work on -technology only helps you if you use it smartly.
Once in the international marketplace consumers will be speaking a different language, paying in different currencies, encountering various issues and you have to keep it all composed. Studies published in Flow Commerce have shown a whopping rise in international sales and purchases by 67%. It has been estimated that by the end of 2021, the total revenue generated by cross-border e-commerce is forecasted to reach an all-time high, 4.8 trillion US dollars.
The success of cross-border e-commerce is directly proportional to the tech-savvy strategies and digital marketing your business utilizes. Therefore, to up your game, we have a few in store for you!
Technology and Digital Marketing for Adept Cross Border E-Commerce
Businesses were doing great, the world economy was flourishing when Covid-19 struck, and things got chaotic, out of control. Avoiding human contact led to unemployment, financial losses, and businesses shutting down. Except for the brands and businesses who knew the underway technology, trends would soon rule the world.
Although many sectors have suffered and struggled at the hands of this deadly pandemic, cross-border e-commerce is now in demand more than ever. People, who used to shop online for luxuries or fun before, are now more accustomed and comfortable with buying the necessities online.
Let alone in China, studies have shown that the Covid-19 outbreak has led to over 30% more online consumers than before. The sales in the country increased from 57% to 70%. With the use of technology on the surge online retailer, small business owners and low-income shoppers are seeking refuge in e-commerce to make a living.
Many merchants and businesses have saturated their local marketplace, and the home market’s growth potential has significantly decreased. Therefore, more than 85% of the business leaders and executives around the world believe that international presence is crucial for survival, especially in the next five years.
However, you have to comprehend the factors and risks associated with cross border e-commerce border, such as:
- Select a marketplace and understand the competition
- Overcome language and currency barriers
- Easy access to your website
- Easy shipment and delivery
- No hidden charges, tax legislation
- Seamless customer experience
After you have designed the strategic framework according to the marketplace you have chosen, it is time to get down working.
Digital Marketing and its Importance for Cross Border E-Commerce
Advancements in technology and globalization, better internet access and connectivity, easy payment methods, adaptable logistics, and seamless shipping procedures have led to exponential cross-border e-commerce. With smartphones omnipresent, e-shopping and e-selling are simplified, and people can easily connect from one part of the world to another. Everyone wants to endorse their brand and add their footprint in the international marketplace from small-, medium-sized to large-sized businesses or enterprises.
The first thing is to make your brand go online but in a smart way. Of course, nobody wants to open up boring or difficult websites. But, on the other hand, if an aesthetically pleasing ad or product promotion shows up on their social media, they will likely search for it, increasing traffic to your website. Therefore, digital marketing can decide the fate of your cross-border e-commerce outcome.
Even before Covid-19, companies were making huge profits that came to their business after digitalization. In 2018, more than 13% of the developed and underdeveloped retailers in Europe were selling their products or services online in the international marketplace. It has been estimated that by 2022, revenues for business-to-consumer (B2C) online sales are expected to rise by 22%. However, as the number of cross-border e-retailers grows rapidly, small businesses and firms are still struggling and lagging due to digital incompetence.
Things you can do for a Lucrative Digital Marketing
The demand for digital marketing in cross-border e-commerce is at its peak. However, to benefit from its efficient and smart use of digital marketing tools is crucial. Because boring and aesthetically unappealing will put you out of business in 2021.
- Build a multi-lingual website that aligns with the international marketplace. If your target audience is German or Chinese, but you did not overcome the language barriers, your Avant-garde expedition of online expansion is going to fail. There will be abandoned carts and unhappy customers. If English is not your first language and you do not have a defined marketplace, add English as an option.
- Learn, understand and incorporate SEO into your online work. SEO or Search Engine Optimization is a digital tool that helps people find you on Google. The better the SEO, the easier it is for you to get on the top of the internet. Hence it navigates potential customers to your brand. SEO is not simple, and you would need help from certified experts. However, a strategic website structure with high-res images, catchy product descriptions, customer support, displaying feedback from customers, and recommendations from other websites sums up to a better ranking for your business.
- Use social media ads for enhanced digital marketing. Google AdWords, YouTube ads, Facebook ads, Instagram promotions are great ways to put your business in front of the world. The best part about these ads is that they allow you to choose your target audience and customize them likewise.
- Utilize most of the social media for thriving cross-border e-commerce. It is not enough to have a website. You need to build your brand’s pages on social media platforms like Facebook, Linked In, and Instagram because most people spend their time. You can also take advantage of social media influencers and bloggers for a paid promotion for your products.
- Use e-mails for ads, feedbacks, and reminders for sales or when a new product shows up. Customers like to be valued; hence a personalized email would allow them to return to your website. Moreover, it provides better customer support.
With the effective use of technology and outcomes from cross-border e-commerce, the US is set to generate 4.9 trillion dollars by 2023. Therefore, the international market is a place that you would regret not going to.
Cross Border E-Commerce- How to Make Things Work
After the dramatic events of 2020, instead of falling prey to the economic crisis and shut down, the Chinese marketplace has accelerated more than ever.
By 2023, national and cross-border e-commerce in China is estimated to break the record by increasing retail sales by 64%. Just by using the internet and digital marketing tactics. Baidu, the biggest online platform in China, generates the major chunk of its ROI as more than 70% of the Chinese population uses it.
Apart from China, other countries like the US, Australia, New Zealand, Japan, Mexico, and Canada are also on the list of benefits from e-commerce. Their economy is looking better than before.
Once you have set a tech-savvy to land in the international marketplace, set up the goals and timeline for your online sales and revenue to help you with risk management in the long run, such as:
- After the substantial advice from your mentors and experts, write down an executive summary or the action plan.
- Highlight the goals and objectives; specify the duration to accomplish a certain amount of sales such as:
- Estimate or express a percentage of sales that your business needs to acquire during the slow season (normal days of the year)
- Estimate the AOV and ROI on special days like Black Friday, Christmas, Cyber Monday, etc
- Evaluate the progress of the website, and work on increasing the digital and e-mail marketing by a certain factor
- Align the goals with your mission and value predisposition
- Evaluate the target market, customers, and personas
- Conduct a survey and situation analysis
- Understand the market demand and the price of your products
- Get technology support and assess the potential risks
- Analyze the distribution of your product in the target market and fulfill the consumer demand
- If the generated revenues from cross-border eCommerce are below your expectation, go back and start again!
Make cross border e-commerce easy and accessible for the consumers
Your customers are your biggest asset. This is why you need to make things work for them. Thanks to the burgeoning social media, public opinion matters the most for any business, especially when dealing with cross-border eCommerce.
It has been estimated that simply improving your website’s appearance and speed can enhance the customer experience by more than 70%. But, on the other hand, China is now every brand’s horizon for future online expansion, as labeled by Tim Brown, the co-founder of Allbirds.
To entail a successful ROI here is what you can do:
- First, enable a great pre-purchase customer experience. Before buying anything, the customer will linger on the website for a while to see if it is what they want. Therefore, equip the site with relevant information, guide, and transparency.
- Build an unbeatable shopping experience. Constantly upgrade your website and other digital marketing platforms to inform the customer about sales and discounts. Ensure that the customer easily accesses the site and checks out; keep an eye on the technical glitches that can negatively impact your revenues.
- The post-purchasing customer experience. Never forget your customers even when they are done with the payments. To make the buy more and come back, stay in contact with them through e-mails.
After the customer pays for the product or service, ensure that their package is safely shipped or delivered. If anything bad happens, your e-commerce may go back to point zero. Therefore, when getting into the international marketplace, evaluate the different modes of freight such as land, water, and air.
For lucrative cross-border e-commerce, your business needs to bring the best shipping solutions to the table. Collaborate with third-party logistics and reliable shipping companies to avoid risks and damage to the goods.
Top Seven Tips and Tricks for a Successful Cross Border E-Commerce
The giant online marketplace of Amazon, eBay, Ali Express, and Ali Baba has become popular worldwide. Countries like North America and China have adapted to flexible policies with warehouses in various parts of the world, trade agreements between China and New Zealand, multi-lingual websites, and expedited processes.
From 2019 to 2026, the US cross-border e-commerce is set to increase from 578 billion dollars to 2,248 billion dollars, expanding the consumer growth rate by almost 18%. To do what the US is doing, here are a few tips from the experts:
- This is the best time to get into cross-border e-commerce if you are considering international online expansion.
- Understand research and analyze the success of your strategic business framework.
- Read the customer’s mindsets- think what they think.
- Ensure the language and payment methods meet the local culture.
- Recruit an expert in each country you want your business to be in, and get to know the marketplace, inside out.
- Always keep a backup for all the data and information because technical failures come without any warning. Open a multi-currency account, so you do not have problems receiving the payments.
- Go for a bigger and wider digital footprint. Mark, your online territories to rule in the international market.
Taking Cross Border E-Commerce Sky-High
Successful people turn every burgeoning opportunity into profitable revenue. Every merchant around the world is striving to take their business across international borders. The proper use of digital tools and tech-savvy strategies can amplify cross-border e-commerce.
What are you waiting for then? Get into the local and the international marketplace, understand the dynamics, and the only thing left is to test, test and test! It is high time to expand your little brand into the international territories.
The only thing that can go wrong is you not taking the risk!
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