Five E-Commerce Strategies To Boost Your Sales In 2019
As the markets get crowded, the potential of your e-commerce business to expand and make more profit increases.
Running an e-commerce company can be a very profitable venture, but it is also very challenging. Balancing all the logistics issues with the need to price competitively in markets that are getting increasingly crowded can be a major hassle. As the markets get crowded though, so does the potential to expand and make more profit. More people from around the world are beginning to buy over the internet, and anyone who can innovate a product or service to satisfy a common need will likely make big bucks.
Gone are the days when you could set up a website and focus solely on selling your goods through it. Granted, you can use SEO and other digital marketing methods to drive traffic to your website but taking an omni-channel approach is much more efficient.
Recent studies have shown that online purchasers buy from everywhere; from eBay and Amazon to Facebook and Instagram. Many customers are tied to one platform and attempting to dislodge them would be an uphill task. Instead, invest the time and effort to make your products available on as many platforms as you can. Tools like Woocommerce can integrate your sales and delivery logistics across multiple platforms but be sure you have enough manpower to provide prompt support on each channel.
Efficient payment processing
One of the biggest causes of cart abandonment is customer frustration with the checkout process. Your payment processor can make or mar that process so it's crucial to select one that offers a smooth and secure system. Design a process with as few hoops as possible for your customers to go through before completing their orders. Things like taxes, shipping and conversion rates should be built into the system so that they show up without the customer needing to take extra steps.
Also watch out for how innovative the processors you're considering are. Do they evolve and stay ahead or the pack? In the words of Lissa Harris, writing in Entrepreneur, "With the rise of cloud-based computing, more sophisticated security requirements, and the proliferation of mobile payments, the technology of payment processing is evolving fast. A good processor is one that's invested in keeping up."
Is your customer service system due for an overhaul? "With eight in 10 customers saying they'd switch to a competitor due to poor customer service, businesses have to train their staff intensively to respond to queries in a helpful, human way," according to Hendry Ranawijaya, CEO of VapeActive. "One simple step is to feedback convenient by opening your social media handles to getting messages and publishing multiple channels through which customers can reach out." In addition to that, businesses also have to encourage their customers to use the feedback channels by reaching out to them occasionally and asking them to share their thoughts. It'll help your business create a more engaged relationship that'll translate to increased customer loyalty and revenues.
Creative content marketing
Content marketing has been a buzzword for a while, but the hype has begun to dilute the very essence of what it entails. Many businesses just put up slapdash blogposts and cliched quote pictures on their social media. With the sheer amount of such content online, you won't likely get results with basic stuff. Even if you're not producing Super Bowl level ads, go for top-notch quality. Instead, you should invest the time and effort to produce content of a higher quality and to get them seen by more potential customers. Whether you're using in-house staff, hiring freelancers or contracting a digital marketing company, be sure that they are competent and experienced enough in your industry.
In addition, it's crucial to explore other types of content. Instead of focusing on blog posts alone, try infographics, eBooks, videos (including live videos) and webinars. Those are usually more valuable and will thus likely get shared by more people.
While working to make the purchase journey smooth and efficient, you must be mindful of security. The only thing worse than a cumbersome checkout process is one that allows your customers' financial information to be stolen by hackers and sold on the dark web. Apart from your duty to protect your customers, your small business may not survive such a scandal. To avoid that, be sure to get professional security for your website and servers. It will cost more than relying on plugins and other software but consider it insurance for your business' smooth operation. Professional, dedicated security services are much more effective at preventing hacks or data losses, and they'll get your site back up in a jiffy if a there's a malfunction.