- eCommerce

Key Factors for a Successful eCommerce Business

Starting a business today is radically different than it was 20 years ago. With the advent of the internet, more and more entrepreneurs are able to kickstart their eCommerce journey with just a few simple clicks of a button.

However, just because it’s easier to start an online business today, doesn’t mean that there’s no strategy to it. If you want to be a successful eCommerce business, then you need to know the key factors that are crucial for your online business.

Key Factors for a Successful eCommerce Business

What is eCommerce today?

The eCommerce economy has grown exponentially in the last few years and 2018 looks to continue that trend. With the current eCommerce boom happening around the world, especially in big market countries such as China, you can be sure that there are plenty of opportunities for business owners and entrepreneurs.

If you’re just starting your own business and want to make it in the eCommerce market, then there a few factors that you need to have in order to be a profitable and successful eCommerce business.

The quality of your products

The basis for all successful businesses is to have products that people want. The same thing applies for an eCommerce business and having quality products is one of the key factors for making your online business successful.

It has been a long-standing myth that products bought online are inferior to the ones at physical stores. While such beliefs are not as rampant today, you still need to convince your customers that the products you offer are comparable or better than in a brick-and-mortar shop.

Source your products from trusted suppliers and continue to maintain a level of quality for all the things you sell on your site, it won’t be long before customers will go to you as their preferred place for shopping.

Regulate the pricing of your products

In the eCommerce industry, it’s unavoidable to have your customers compare the prices your products to other brands and businesses. As a business owner, it’s good practice to be aware of how your competitors are pricing their products so that you can price yours competitively.

Do a market research on different brands and online businesses just to get an idea of the current market price for your products. Of course, you can also use tools such as DataCrops and Import.io to compare prices among different competing eCommerce websites.

Try to find a good balance between your product’s pricing as too high will turn off customers from buying and putting it too low will not bring you as much profit.

Good customer service is key

Regardless of the size of your business, having good customer service is an important factor to a successful eCommerce website. An excellent customer service will boost your customer’s trust in your business and cultivate a loyal user base in the long run.

What your audience and customers say about you to others can make or break the success of your business. Provide the best customer service you can and people will talk about you. Although some mistakes can come about by a provider or logistics company, don’t ignore it. You should do your best to explain the problem to your customers.

Remember, nothing is more powerful than positive word of mouth, especially in today’s digital age!

Take advantage of different marketing channels

Back in the day, businesses had to rely on the usual marketing approach in order to reach their audiences and customers. With the advent of the internet, there are more ways than ever to market your eCommerce website and your products.

Create a marketing strategy that tries to take advantage of all the different marketing channels. Broaden your reach by using a combination of email marketing, referral marketing, affiliate marketing, and offline campaigns.

Social media marketing is another channel you can not afford to overlook. One of the best ways to market your products through social media is to open a store that attached to the network such as Shopify Facebook store.

Try to go for the broadest distribution possible for you’re as this will give you more opportunities and improve your chances of being successful.

Engage in social media

It’s been over ten years since Facebook was created and the landscape of social media has changed significantly since then. Today, having a social media presence is as equally important as a professionally designed website.

Platforms such as SnapChat, Instagram, FaceBook, and Twitter are important if you want to gain the attention of the large social media audience and the younger demographics. Your eCommerce store could do better if you implement the strategy well.

However, it’s not enough to just be on these platforms. You also need to create and curate content that is highly shareable if you wish to achieve a better ROI from your campaigns. While it might not be easy trying to brainstorm shareable social media content, but it will definitely pay off for your eCommerce business.

It’s also important to set up analytics to monitor from which social media platforms visitors are coming from. You will be able to determine which social media sites are valuable to you.

Improve the overall user experience

When creating your eCommerce website, there are probably a few things that you have to take into account before designing it — what WordPress themes work best, the layout of your homepage, the fonts and color schemes.

Usually, you’ll settle for a slick looking WordPress website and be content with that. But, if you want to build trust and loyalty among your customers, you need to go above and beyond and continually improve the overall user experience of your website.

There are plenty of ways to do that, among them is to use a professional platform such as Shopify store or designing your site to accommodate all sorts of customers. Add different language options to widen your potential customer base, allow specialized themes for people with visual disabilities such as color blindness or impaired vision.

It might take some effort on your part but making your website more accessible will pay off in the long run for your business and your profits.

Explore the mobile market

The number of mobile users today has grown exponentially and it has quickly become one of the key demographics for all eCommerce businesses. With over 60% of smartphone users making their purchase through their mobile devices, it’s important that businesses cater their website for mobile users.

If you do not have a mobile version ready, then make sure that your online store is optimized for the mobile user experience the next time you redesign your website. Factors such as navigation menu designs, mobile search features, streamlined checkout and payment counters on mobile devices, and many more, are important to take note of your overall mobile user experience.

Do you need to use a mobile app just to make a separate website? Not necessarily. As long as your website is optimized, then you will be able to capture the mobile market. Once your online store grows bigger, you can further optimize your website by exploring mobile design and development design for your eCommerce business.

Conclusion

The eCommerce market today is an exciting landscape with plenty of potential for growth and profit. However, if you want to be successful with your eCommerce business, then make sure that you have all of the key factors necessary to do so.


Jessica Bruce – I am a professional blogger, guest writer, Influencer & an eCommerce expert. Currently associated with ShopyGen as a content marketing strategist. I also report on the latest happenings and trends associated with the eCommerce industry.

Follow me on Twitter @Jessicabruc  (https://twitter.com/Jessicabruc)

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