The world of online e-commerce businesses is rapidly becoming one of the fastest growing online sectors in the world, with a U.S. Retail report stating that as of the third financial quarter of 2021, roughly 13% of all online sales were made through an e-commerce business, platform, or website. But before you decide to take the jump into the world of E-commerce, there are quite a few important things you should know in order to make the transition into this new market a smooth one. Let’s break down a few of the most important things you need to keep in mind before starting your own e-commerce business.
As with any rapidly growing industry sector, the world of e-commerce is a highly competitive market landscape. With over 20 million different e-commerce websites already on the internet, it might seem daunting in terms of how your business will succeed in this market. However, with the right ideas and using creativity, you can find ways to get your store noticed and to the head of the pack.
Email marketing is free to use and easy to optimize. By utilizing analytics, you can fine-tune your email marketing strategy to improve your engagement rates and sales. It’s important when using an email marketing campaign to find out a number of things such as the percent of users who read your newsletters, when they’re reading them, and what action they’re taking afterward. Utilizing email marketing campaigns is one of the fastest and most inexpensive methods you can do to grow your e-commerce store in the early stages.
One mistake many businesses make when attempting to build their customer base or social media following is to utilize what’s known as bot followers. These programs give businesses plenty of likes on their page but don’t think this is the proper way for you to build an organic brand that will lead to your businesses’ success. Customers aren’t dumb, and if they see that only bots are interacting with your posts; they’ll be less likely to do business with you. This is why cultivating an organic brand with real, passionate followers and a community should be a primary goal for your company.
In point one, we mentioned the sheer number of competitors in the eCommerce market. This is why finding a way to stand out from the crowd and draw your customers in is one of the most beneficial things you can do for the success of your business. Ideally, this is something you can try to figure out before launching your business; but you should never be afraid to incorporate new and unique ideas into your business models which can boost your awareness and engagements.
There are a number of e-commerce platforms available for businesses to utilize, but not all of them are created equally and some might not work for your specific line of business. It’s recommended that you do extensive research into the various platforms available, consult the reviews, and find the platform you feel will fit your business the best.
Search Engine Optimization or SEO is a massively important online marketing strategy that helps get your website noticed by raising its rankings in search engines based on keywords, relevant content, and an optimized web experience from your site or platform. The better your SEO plan, the better your overall search rankings. It’s important to remember that Google accounts for 33% of all traffic routed on the internet, so getting to the top of their lists and other search engines is a key aspect of your e-commerce success.
One thing your e-commerce store will need is high-quality pictures of the products you’re selling. This is important for a number of reasons, but primarily it gives your customers an accurate portrait of what they’re purchasing from your store and in turn, gives them reasonable expectations of what they’ll receive. You can also utilize things like logos, symbols, infographics, and more to spread awareness about your business, its products, and its services. Plus, studies suggest that customers are thirty times more likely to read or interact with content that has a visual element.
For independent business owners, networking is one of the backbones of getting yourself known and attaining success for your business. Whether you’re networking to find like-minded people to work with you or to receive mentorship from those already in the e-commerce industry, networking provides you with a unique opportunity to make useful connections while learning more about the in-depth processes of the e-commerce business world.
Businesses, especially those in their infancy or incubation period will commonly make mistakes that are easy to avoid. For e-commerce, this can be a number of things such as not conducting proper market research, not properly researching or developing a new product, or ignoring important customer service aspects like personalization and availability. By utilizing common sense and having a source of mentorship, you can help your business avoid these starting pitfalls so you can come out of the gate strong.
Success takes time. Your store likely won’t become an overnight sensation, especially with the sheer number of competition you’ll be facing. This is why hard work, dedication, and understanding & anticipating the needs of customers go a long way in determining the long-term success of your business.