Setting up e-commerce sites is easy. There are e-commerce solutions that can create a ready-made store for you in minutes. However, running an e-commerce business is a totally different ball game. Driving traffic and generating revenue in the face of fierce competition is difficult. But, businesses that avoid these basic missteps can succeed in building a profitable online business.
- Making things difficult for the customer.This includes almost everything that you can do to turn customers away. This is especially addressed to website design and usability. E-commerce sites must be attractive, easy to use and in today’s market, mobile friendly. A long and complex payment process can also result in customers leaving empty-handed. Even though they were on the cusp of completing a purchase. Add low-quality images and poor product descriptions to the mix and you have put together a potent combination that will definitely prevent e-commerce sites from taking off.
- Not targeting customers.Customer acquisition is one of the biggest costs that e-commerce sites incur. Businesses without a plan for targeting specific customer demographics, as well as marketing to existing customers, spend excessively targeting the wrong audience. To effectively target customers, use the tools available to gather information on your audience. Then you can market at a lower cost in a more personalised manner.
- Low profit margins.Often, e-commerce sites do business at a loss until they achieve economies of scale. If and when they do make money, inventory, payment gateway fees, shipping, advertising, staff and technology nibble away at profit margins. Incentives are a great way to build a customer base but only when the financials are analysed accurately. Customers are always on the lookout for discounts. Providing deals, contests, giveaways, etc., is a great way to build your database and expose your brand to more potential customers.
- Not marketing your business effectively. Marketing an e-commerce company requires savvy search engine marketing, social media marketing and content that fulfils the latest search engine optimisation requirements.
This requires the skills of an expert and extensive data analysis. To maximise growth, take the time to fully understand site analytics as well as the data you’re capturing from marketing channels, social media and search engines.
- Annoying your customers with hidden costs.Customer pet peeves include hidden costs that pop up at the time of payment. Compulsory registration to make a purchase and, of course, selling poor quality products. An e-commerce business must eliminate these.
E-commerce sites | speak to the experts
If you would like help growing your e-commerce site, digital marketing or more general help to grow your business, call Sarah, our company Director and Marketing expert on 0870 062 8760 or email her at firstname.lastname@example.org