In this episode, Budai Media’s founder Daniel hosts a round table discussion for Budai Media’s 30th Episode of The Ecom Show, featuring some of the titans of marketing, including one of our own account managers and some former podcast guests too! Take a listen and hear from some of the best minds in the industry like:
Join up and take part in a Retention Marketing Panel and learn about:
✔️ How this year’s Q4 was different from any other year
✔️ Most and least successful ecommerce niches of 2020
✔️ What ecommerce trends to expect in 2021
✔️ Tips for retaining customers next year
✔️ What’s next for these incredible companies?
Everyone can agree that this year’s Q4 was the strangest in recent memory, with a pandemic affecting the ecommerce landscape. Black Friday and holiday sales started much earlier, and brick-and-mortar businesses focused on building an online presence.
Facebook Ads became much more competitive, and people mainly opted to stick with companies they were familiar with rather than jump at the best discounts.
Due to the year’s volatility, companies have had to adapt or risk falling by the wayside. The niches that performed the best this year were childcare products, household items, health and wellness gear, art/hobby supplies, and home appliances.
Food, consumables, and skincare products also did quite well this year, but one noteworthy casualty of COVID was the outdoor gear/survivalist industry, which has fallen on hard times. Major companies also took some time to worry less about sales and more about their community building and audience engagement!
Aside from obvious developments in 2021, like the subscription model’s continued growth and success, there are some other trends you can bank on. Fiona and Martina both agree that the focus on the customer journey will increase, with personalized messages and heavy segmentation to engage the right people.
Charlie mentioned that Facebook ads would become a lot less expensive next year due to becoming a lot more difficult to use! The way Facebook Pixel captures data will shift drastically, so ad agencies are scrambling to get their back-end analytics figured out to brace for the coming changes.
The reason we rounded up this group of experts was to figure out and share the best ways to keep our hard-earned customers in 2021, and the answers did not disappoint! Ben mentioned that delivering on expectations and promises like shipping times and refund policies was critical if you want to keep your customers long-term.
Engaging with customers and asking them what they are looking for or sending them useful content was another helpful tip shared by Mihail. Charlie mentioned cross-selling, upselling, and syncing ads with email campaigns to build brand unity, while Martina kept stressing the importance of personalization. Fiona brought up an interesting point that being authentic practicing what you preach will attract people who believe in the same causes.
Each of the five companies involved has big things in store for their customers in 2021, like Budai Media’s new CRO service, for instance. SMSBump and Octane AI will work on their products and improve their integration with other apps. At the same time, Loyalty Lion has an eye on building a more comprehensive data analytics system to further help their clients. Charlie and Gecko Squared are hard at work focusing on in-house creative production and DIY training programs for brands seeking to run their own Facebook ads.
We’re leaving the gift of wisdom and experience under your tree this Christmas, so don’t forget to unwrap it!
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