Starting an eCommerce business isn’t easy and running it successfully is even more difficult.
Increasing sales is the most important goal for most eCommerce businesses. This is how you measure your growth and results. But whether you’re employed by an eCommerce giant like Amazon or you run a small eCommerce business, increasing sales takes quite a lot of time and effort.
The reason for this is the fierce competition. How do you compete with big players like eBay and Amazon that have huge budgets and use complex algorithms that enable them to predict and track customers’ needs?
Many new eCommerce business owners will try to stand out by offering innovative products. They’ll spend tons of time and money, only to discover that the same products are already available on the market. Or if they aren’t, they will be very soon.
Instead of focusing on selling innovative products, concentrate on coming up with innovative marketing ideas.
Just take a look at Amazon and you’ll find stuff that’s sold in any department store! So, what’s their secret? They’re selling these products in a different, innovative way!
Offer Outstanding Customer Support
Selling high-quality products and creating great designs certainly helps, but if you really want to stand out in the crowded eCommerce marketplace, you need to provide outstanding customer service.
Studies show that nearly 80% of consumers pulled out of an intended purchase as a result of poor customer service.
Providing excellent customer service means being available on multiple channels, including email, social media, phone, live chat, as well as customer help desk or service center. Your customers need to be able to reach you 24/7 and will expect a quick and efficient response.
Personalize in Real-Time
Almost 75% of online consumers tend to leave sites where the content (promotions, offers, or ads) is not relevant to their needs and interests.
According to reports, more than 70% of customers prefer brands that utilize personal info to create a more relevant shopping experience. In addition, 45% of customers are more likely to make a purchase from websites that offer personalized recommendations.
Use customers’ past searches, preferences, and interests to send personalized and targeted marketing messages. However, remember not to go overboard. There’s a fine line between using customers’ personal info to tailor relevant messages and invasion of privacy!
Optimize for Mobile
In today’s digitalized world, having a mobile-friendly site is a must. According to reports, mobile-only users now exceed the number of desktop users in the States. Moreover, a survey by Google showed that over 60% of consumers said they were very likely to leave if a website wasn’t optimized for mobile.
So, if your goal is to boost conversions, you need to do your best and provide an excellent mobile experience. Here’s what you have to do:
Make sure your website is responsive
Ensure it loads quickly (no longer than 3-4 seconds)
Optimize your mobile website and enhance site search
Make sure the checkout process is simple.
Reduce Cart Abandonment
According to statistics, the average cart abandonment rate is almost 70%! This means that a big number of potential customers add products to their carts but most of them tend to drop out before the checkout process is completed.
What can you do to reduce cart abandonment? Here are a few ideas:
Make sure that the site navigation and checkout process are super-simple
Increase trust by displaying trust symbols and valid SSL certificate
Offer price match guarantee
Send shopping cart abandonment emails
Provide guest checkout options.
Hire Strategic Consulting Services
Still struggling to see the desired results? Consider hiring a strategic consulting pro to help you push the company forward.
Strategy consultants are experts that specialize in assisting companies to identify their most pressing issues. They typically work closely with the executive and management team to evaluate the company’s current status and its marketplace, develop growth strategies, set workable goals, and then streamline your operations to accommodate that growth.
Working with the right strategy consultant will pave a path for success and growth for your company that you would not achieve without that focused & clear outside perspective.
Consider Selling Your Business
When it comes to developing growth strategies for your eCommerce business, prepare as if you’re going to sell it. Not all entrepreneurs start a business with the intention of selling it but who knows? Employing smart strategies may make your business really successful and attractive for buyers.
A business broker has the skills and experience to negotiate and sell a business. This means that they will help you get the best price and any stipulations you desire in the contract. In addition, they have a strong network where they can find valuable buyers and make the whole process much faster.
Running a successful eCommerce business is certainly not a simple task, but if you decide to use these strategies and put them properly in place, you can boost your chances of success.