The world is changing. Today’s businesses are global and virtual. Global ecommerce business is now worth more than 1.2 trillion dollars. Be it a B2B or B2C ecommerce site, the dynamics are changing and today’s businesses need more than just good products to survive on the web.
Given below are five important components of running a successful ecommerce business in modern age.
Consider Mobile Users
As per reports, the number of people using mobile devices to access the web is now higher than the number of people using computers to browse. This highlights the importance of catering to mobile users.
It is important for your website to be mobile friendly and work smoothly on all mobile devices (tablets, phones etc.). Additionally, having mobile apps can also be beneficial. Almost all big platforms like Amazon and eBay have their own mobile apps to make using them easier for buyers.
According to this report, 90% of a consumer’s time is spent on mobile apps and not mobile browsers. Getting the right app is a big investment but one that pays well.
Offer Discounts and Perks
Buyers are always looking for special perks and discounted rates. They pay the most attention to shipping costs. The #1 reason for shopping cart abandonment rates being as high as 67% are shipping costs increasing the total price.81% customers say they are more likely to make a purchase if an ecommerce business offers free shipping. Click To Tweet
However, businesses do not have to offer flat free shipping. They can make it exclusive to returning customers or customers who meet certain criteria.
The Founder of JennyPresent says,
We offer free shipping on orders of $250 or more. This simple strategy has helped us nearly double our sales. Free shipping hasn’t only brought us new customers, but our existing customers have also started to order more in order to reach the $250 mark.
To ensure you enjoy the full benefits of free shipping and other similar offers, you must advertise it neatly. Prominently display a banner indicating free shipping and provide information about the details on your shipping page.54% customers are more likely to make a purchase if they are offered a discount. Click To Tweet
Display discounts when someone is leaving your site in order to attract buyers back and encourage them to complete purchases. Be sure to offer multiple delivery options to accommodate all types of buyers.
You can offer expedited delivery for extra pay. This is important because a number of people are in a hurry to get the order and may go elsewhere if your shipping is too slow for their tastes.
With over 110,000 ecommerce businesses competing on the web it is becoming increasingly difficult for new and even established businesses to stay afloat. Because stores in the same niche are typically offering similar products, it is important for customers to be able to tell two stores apart.
This can be done with the help of branding. Your customers should not look at you as just another store offering products – they should be able to connect with you.
Big stores like Amazon and eBay make up 34% of the total online sales. This has become possible due to them having their own identity. Amazon branded itself immensely well by introducing Amazon Kindle which caters to readers and writers. Similarly, AliBaba is a B2B site and markets accordingly.
If you have an ecommerce site, make sure to get a solid name and concentrate on a specific niche so that your brand can get an identity and carve out its own niche.
Help and Support
Around 83% of customers agree that they need support in order to complete a purchase. And they need this help quickly. Ecommerce stores can help the cause by having an FAQ section explaining delivery terms and conditions, shipping cost etc.
According to KissMetrics, 28% of customers will abandon a purchase due to unexpected shipping costs. This can be reduced by providing shipping details in advance.
Live chat is believed to be the best way to get in touch with customers. The live chat customer satisfaction rate is 73%, a lot higher than any other option including phone calls and emails.The person handling live chat must be well informed and be able to answer all queries in a quick and simple manner.Click To Tweet
Getting more people to handle clients can be expensive, but considering that over 80% of buyers are willing to spend 25% more if they get good customer service is a reason good enough to invest.
Offer Buyers More Than What They Expect
The Founder if ThingsMenBuy says,
At times it becomes necessary to push your buyers to make a purchase. This can be done by posting reviews and connecting with them on a personal level.
Personalization can help drive sales. Understand your buyers and cater to them accordingly. For example, if your buyers prefer a specific payment method make sure to incorporate it.
Also, take care of security. Around 50% of users abandon a purchase because they feel insecure about sharing their private details, including personal information. The solution is to use the right cart that is not only easy to use but also safe.
Give users suggestions based on their previous orders to make them feel you care. This will also induce loyalty and help you retain customers, which is importance since customer retention is a lot cheaper than customer acquisition.
Simply having products and an ecommerce website is not enough to ensure success. Use these tips to decrease abandoned carts and increase customer loyalty and purchase size.
Latest posts by Ahmad Raza (see all)
- 5 Steps That Will Improve Workplace Productivity and Efficiency - November 28, 2016
- Does My Credit Score Affect My Ability to Start a Business? - September 25, 2016
- 3 Considerations Before Diving in and Starting Up - September 22, 2016