These days, eCommerce seems to be everywhere. From startups to small businesses and huge brands, everyone is benefiting from the eCommerce website. In today’s competitive world, convenience is what customers see which leads them to no longer venture to the streets to buy anything, instead they shop from the comfort of their homes. This makes eCommerce a flexible solution for both consumers as well as businesses.
Still, have a doubt about whether you should launch an eCommerce website or not? Think no further, here are the top reasons why eCommerce is important for your business and how you can benefit a lot from it in the coming years.
As already mentioned before, there is an increasing shift of consumers to digital channels to shop, easy price comparison, achieve their business goals, and increase customer reach. According to a study from Retail Systems, 78% of respondents say that they have shopped more online since the pandemic and 86% of respondents will continue to shop online in a post-pandemic environment.
In order to gain success on the digital front, retails must provide an eCommerce experience that:
The post-pandemic session has also led consumers and retailers to shop online more comfortably. This has given the retailers all the more reason to invest in e-commerce business.
According to a source from Common Thread, the growth of eCommerce between the years 2019-2024 is expected to rise from physical stores by 900%. This growth is in effect before the pandemic as a lot of companies were planning to invest in sophisticated AI and IoT technologies to support their online business. The provision of a wide range of products and a drive for innovation are raising the consumer's expectations from the potential interaction they receive across the web. The brands that value secure engagement, conversations with customers, providing an efficient service as they need, and solving their problems on a timely basis stand in the front of the digital world. This has led the brands to widen their network as well as build a strong distribution channel with trustable customers.
Your website is considered one of the best marketing tools. This involves the technology that you choose to move forward your e-commerce business is of great importance. If the technology is set correctly then it reacts rapidly to changes and helps you to stay ahead of the competition. A flexible system and an agile approach to development will lead your company to:
Gaining data is one of the most important eCommerce strategies. These data help you to better understand your audience, which in turn assists you to shape new features and make enhancements that leads to better customer satisfaction and high traffic.
Analytical tools such as Google Webmaster, Google Analytics, and many more provide an in-depth insight into patterns and user journeys. It also helps you to know about the topics that users have clicked on your website as well as their location.
The provision of a chatbox in today’s website helps businesses understand and take direct feedback from their customers.
Omitting the overheads of brick-and-mortar stores and in-staff premises, Ecommerce proves to be a cost-effective alternative.
Providing useful products and provisioning clear policy information on your site will lead to increased customer service, thereby reducing the pressure on customer service teams.
Your E-commerce website needs strong accessibility to ensure that customers can find the information that they need. To achieve the motto of “enriched experience”, many E-commerce sites are expanding the option of artificial technologies and innovative designs that are suitable for businesses to achieve their goals.
These e-commerce business reduce their costs by introducing automation, APIs, and a seamless journey for the purchase section.
As your e-commerce business grows, you can seamlessly grow your product range as well as your target audience.
An eCommerce site gives you the comfort to scale your business in terms of allowing you to add more lines of product, add more payment gateways, and grow where to want to ship. This can be done without worrying about the actual location of your store irrespective of a brick and mortar store.
This leads to an increase in marketing opportunities which enhances your sales that lead to an overall boost in your business.
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As your e-commerce business is highly scalable, this comes with the opportunity to earn more revenue. Investing in an eCommerce platform helps you to gain high basket values as well as return visits.
Provisioning your customers with round-the-clock and convenient service helps to increase your market value as well as an upscale revenue.
You can even enhance your e-commerce business by introducing cross-selling and up-selling opportunities that give relevant information about buying trends and patterns of your targeted customers.
Similarly, word-of-mouth also has a high value which you can drive from customer satisfaction. This leads to a decrease in barriers to entry to new markets, regions, and product lines.
Every business wants to know what their customers think of their products and if is there a need to improve them. From star ratings to comments, E-commerce allows you to receive feedbacks that help businessmen to implement potential changes and improvements. In addition, customers will feel heard about their purchases.
Whether you are already connected with the launch of an e-commerce business or you are looking forward to setting your first venture, now is the time to set your foot on the fastest-growing eCommerce
platform. According to a source, the growth of eCommerce is expected to be 41% high by the end of2018.
The eCommerce economy is experiencing significant growth over the years and hence you can also expect to see the positive result if you approach it in the right way. Here are some of the tips that you can focus on:
Do you know it just takes 50 milliseconds for a user to decide whether they like your website or not? If your website is too boring, dull, or too traditional, you will have a high bounce rate.
You must always pay attention that visual communication plays an important role as 80% of the customers remember what they see. The tip is that you browse and see how easy or difficult it is to browse your website.
Email marketing is one of the important methods to shape the brand’s image. Email newsletters are used by most eCommerce businesses to build a huge customer base.
An email reaches 99.9% of customers and those who are online. Try to offer your customers a free incentive to see how positive is their reaction. Moreover, being a decade of 1:1 marketing, the personal touch is missing with the invention of eCommerce platforms.
To foster huge customer loyalty, try to interact and maintain individuality by referring to their names or their interests.
Initially, push notifications are used in blackberry devices to notify users that they have an email. But this system has evolved into a smart marketing technique. A recent survey has stated that a push notification delivers 50% higher open rates than email marketing.
Here’s what push notifications are mainly effective for:
Alaska Airlines witnessed a 95% engagement rate from push notifications within 12 hours. Push Strategy
used by businesses to attract customers and build a higher base needs marketing tactics as well as continuous efforts.
Do you also love free shipping? Well, all online shoppers do. Offer your customers free shipping, you can also add private details. For instance, shop above Rs.2499 and get free shipping. With the help of these offerings, you will be able to decrease your cart abandonment and 95% of buyers will shop more provided these perks. A recent study stated that 93% of buyers love online shops that have low prices. In case of any sale or discount, make sure to bold it and place it all over your website and even on emails. For instance, Alaska Airlines has witnessed a growth of 8% to 12% with the help of email marketing as they offer several offers via emails.
A report by Baymard Institute states that 28% of shoppers tend to abandon their cart just before purchasing due to complicated and fewer payment getaway options. The year 2022 mainly focuses on making the payment experience seamless for your customers if you want to stay ahead of the competition. Offering a smooth checkout process and easy payment options ensures a quick and higher conversion rate.
Keep your website security in mind when you work on making your customer’s purchase journey smooth and efficient. Nowadays, everyone is concerned about compromising their financial information to the hackers.
Investing on professional security for your website and servers instead of plugins or other softwares mght cost you bit more but is a long term investment that helps your business get smooth functions.
Cross-device marketing becomes an important factor especially when there is an increased use of mobile phones and tablets. In both, B2B & B2C spectru,, aligning your cometnt and maintaining consistency is a must.
As a business when you put forward your value proposition in the market, refers your brand message which should be delivered clearly. Unfortunately, 69% of businesses worldwide lacks
cross-device communication plan which makes “engagaement” tough for the business owners.
A study represented that 31% of the revenue of 300 ecommerce websites are generated from product recommendations from the year of 2014.
For instance, Amazon offers product recommendations to its customers. If you are a first time visitor on a site, you may look for recommendations like, “Best Sellers” or “what customers are looking right now”.
You can amke use of machine learning that helsp you to recogize customers changing needs and optimizes marketing strategies for your company.
Nowadays, more than 68% of Ecommerce transactions happens on mobile. According to resorts from Statista, mobile phones accounts for 56% of total organic search engine visits in 2020. This makes mobile SEO an important factr for small businesses and e-retailers to help grow their online business.
In order to make your mobile marketing a successful one, follow these:
Ecommerce plays an important role in your business. So, let’s check the top success factors of eCommerce:
It is practically easy and convenient to start an eCommerce business as long as you select your products and services wisely. Not only this but having an appropriate business plan and connecting with the right partner takes your business to high stages. This will in return increase the total income and results in high ROI for the long term.
Step 1: Own a great idea
Step 2: Find your needs and select your market
Step 3: Make your product viability
Step 4: Do a complete market research
Step 5: Know your competitors
Step 6: Contribute yourself to understanding online business law
Step 7: Build an attractive online website
Step 8: Know your products and get them effectively
Step 9: Marketing: one step closure toward customer service
Step 10: Devote yourself to learning from experts and successful online businesses
There are 3 main types of eCommerce:
According to a report, global E-commerce retail sales will reach more than 2,7 trillion dollars in 2021, and should reach 3,4 trillion dollars in 2025. So, the answer is YES.