Digital Marketing for the Electronics Industry
The electronics industry is strongly driven by brand awareness and authenticity. The components that make up the product are less important if the finished product has a reputable brand name on it. A well-known brand using its name on a multitude of products extends the brand equity and can increase the consumer’s perception of value.
Electronics like computers, cameras, music equipment and cell phones are in constant technological evolution, which has caused an increase in competition. With the increasing saturation of electronic products, it’s more important than ever to focus on building your brand, refining its messaging, and increasing your online visibility across multiple channels.
Vertical Rail is experienced in using content strategy to build brand awareness and increase brand value through shopping engine management, PPC and social marketing.
How do companies compete with overseas product knock-offs at much lower price points?
Companies compete with overseas product knock offs by emphasizing their own value and brand significance.
Quality Over Cost
Cheap products sold by overseas companies may have a cheap price, but a significantly lower quality. Again, brand focus is very important. And though an overseas product may cost less initially, there are often high shipping costs involved.
A domestic company needs to emphasize their premium benefits. These benefits often include better customer service available at times when customers need it, and a knowledgeable team that can answer detailed questions about products.
Provide details on shipping times. Ordering electronics from a domestic company generally ensures faster shipping times. Provide tracking information and email updates, so your customers stay in the know.
Domestic companies also can compete with foreign knockoffs by providing information that reassures the customer of their purchase, like brand guarantees or warranties, which can increase the value of the product.
What is important to online consumers in the consumer electronics industry?
When shopping for electronics, consumers want to know they are purchasing genuine branded products. There are so many online retailers that many consumers are suspicious of resellers and search for confirmation of quality before purchase.
Customers are strongly influenced by peer reviews in the electronics industry. Consumers who read about others’ experiences are impacted heavily and are often persuaded to purchase by positive reviews and testimonials. Another important factor in consumers purchase decision is price. Often there are many resellers and price competition is high for consumer electronics.
How cost effective is digital marketing to this industry?
Due to the popularity of the industry, everyone wants to know about what is current and what’s coming. According to PricewaterhouseCoopers, “increasing consumer enthusiasm for the Internet of Things (IoT) and adoption of emerging technology will drive the U.S. consumer technology industry to $292 billion in retail revenues in 2017.”
Digital marketing for electronics requires careful strategy and keyword research to avoid wasted spend from searches without any intent to purchase. Advertising budgets can quickly run away without planning or strategy. The cost effectiveness of digital marketing is also influenced by product pricing. We understand the significance of keyword research and can choose the right products to advertise for best returns for your electronics business.
How can I increase my electronic company’s ROI and ROAS?
Understand that although ROI and ROAS are related, they are not the same thing. ROAS determines whether your marketing is profitable and ROI determines if your business model or strategy is profitable.
There are a number of ways to increase your profit generated by ads, relative to the cost of said ads (ROI = profits-costs x 100 / costs). Here’s a brief look at three of our suggestions.
Increase Conversion Rates
Provide relevant and useful website content to ensure consumers are engaged. The longer they remain on a page and the more you give them the information they ar seeking, the more likely they’ll be persuaded to make a purchase. Provide graphics and hints, perhaps use instructions and a list of features. Reviews from satisifed customers are always a plus.
It’s common when preparing to run a digital marketing campaign that there may be other costs indirectly associated. If these fees are recurring, then your first step is to audit these additional costs. What seemed like a good idea at launch may not provide any value. Examine all costs associated with your business model, and eliminate unproductive keywords to trim advertising costs.
Improve Traffic Quality
It makes sense that if you improve your quality of visitors, your ROI will increase. General keywords can bring in a lot of traffic, but it will be a lot of top-of-funnel traffic, not leading to conversions. Focus on electronics-related long-tail keywords that will bring in quality traffic and increase conversions, leading to a better ROI. Also examine any underperforming keywords and adjust daily budgets as necessary.
ROAS measures gross revenue generated for every dollar spent on advertising. This metric gauges the effectiveness of an online advertising campaign (ROAS = revenue from ad campaign / cost of ad campaign).
Better Landing Pages
Provide consumers with a landing page that is relevant to their search and you’re more likely to keep them on-page, decreasing bounce rate and increasing the possibility they’ll convert. It’s vital to give people the information they’re searching for.
Optimize for Mobile Devices
It’s an absolute must to recognize that consumers are using their mobile devices more than ever to make purchases online – especially in the consumer electronics industry. Businesses need to create a comfortable, responsive experience for shoppers across all devices.
Reconsider your PPC Bidding Strategy
What experience do we have in the electronic industry?
Vertical Rail has worked with consumer electronics to create and maintain marketing strategies in PPC, social marketing, and content creation. We have specifically worked in the Amazon marketplace with sponsored products and product optimization and Google Ads (formerly AdWords) pay-per-click search and shopping campaigns. We understand the importance of brand value and product authenticity as well as consumer trends.
As a Google Premier Partner, we have a higher level of support available for our advertising across Google. That means if one of your products has an issue, we are more connected with support teams at Google to help us resolve those issues.