When you know that 90% of online stores fail, it sends shivers down your spine. All online marketers face challenges, and only those who approach problems creatively survive. The world of e-commerce is relentless.
Imagine the following scenario: a once thriving online store is now in decline. Traffic is low, leads are hard to find, and no matter what the owner is doing, nothing is going right.
Fortunately, others have been there before. They also launched their online store, made mistakes and learned from them. As the saying goes, “wisdom comes from experience”. Here, we’ll cover the worst-case scenarios that online sellers face and what to do to avoid them.
You’re a victim of cybercrime In addition to penalizing everyone, data breaches are much more frequent than cybertraders think. Studies confirm an increase in data breaches in 2021, with 294 million customers affected worldwide.
Even worse, e-commerce saw a 20% increase in cybersecurity incidents in 2020. What kind of cyber threat can attack an online store?
• Attacks on point-of-sale terminals (POS terminal malware)
• Phishing emails against employees
• Ransomware attacks
• Violations/Commitments of Social Media Accounts Fortunately, online stores have the means to protect themselves and their customers. Here are some tips:
• Train your employees in cybersecurity. The more the company and its staff know about cybercrime and the threats they face, the easier it will be to prevent them.
• Beware of phishing emails. These messages contain a malicious link that compromises the system at the slightest click. Any suspicious email should be reported immediately.
• Always use a reputable web host. The serious host offers automatic malware removal in its services, as well as regular updates and patches, not to mention alerts.
• Save your data. In the event of a ransomware attack, if our data is “confiscated” and rescued, having a backup in place will make it much easier for the company to thwart their attackers’ plans while limiting the risks.
Overall, you need to take the time to conduct a cybersecurity analysis of your merchant’s website to stay one step ahead.
Competitors do better than us
Be careful not to be systematically overtaken by the competition. In addition to the risk of eroding their profit margins, an entrepreneur can quickly have to bury their business. But given the fast-paced evolution of the e-commerce world, keeping up with demand and your competitors can be tricky.
Brand strategy, pricing and products… Competitors will seek to outperform the company on these different points. One will opt to lower prices, the other will opt for more effective marketing, where the newest will simply stand out with better products.
The good news is that every problem has its solution. Here are our tips:
• Clearly state your value proposition. The stronger (and clearer) your value proposition, the better the company can compete with its competitors in terms of Price and Product. It’s your value proposition that will tell your customers that your offering isn’t available anywhere else.
• Use marketing automation tools to improve the effectiveness of your team’s actions in marketing, brand strategy and commercial development of your e-commerce site.
• Stand out. Before standing out with an optimized website and marketing strategies, it is imperative to identify your target customers and their expectations of an online store.
Organic traffic is falling apart
Organic traffic helps increase sales, generate more leads, and actually proves to be very profitable compared to traffic generated through paid search campaigns (paid search). In fact, organic traffic accounts for 53% of all traffic.
But even if organic traffic seems steady and steady, it can drop dramatically. Several reasons can explain a sudden drop:
• A drop in your ranking (the “ranking”)
• A change in search intent
• Changes to your website
• The application of penalties by Google
• Indexing errors
• A very slow website
Fortunately, all of this can be avoided. The ideal is to hire an SEO professional or an SEO partner who will monitor our website, our traffic and our SEO campaigns. It will also be alert for problems and Google algorithm changes and will track search intent.
Other solutions are also possible. We can like this:
• Take care of your reference on the pages of your website (on-page) and outside (off-page)
• Test your website speed
• Research keywords regularly
• Produce qualitative content
• Optimize your “Products” pages by entering keywords
• Create links
The supply chain is suffocating
The success of an e-commerce site depends on the efficiency of its supply chain, which must be optimized from start to finish. Supply chain issues such as transportation costs linked to high freight rates, inadequate infrastructure and inefficient inventory management can lead to risks of excess or lack of inventory. With the end result of delays in delivery to your customers.
79% of companies that optimize their supply chain are able to increase their revenue compared to those that do not. The numbers speak for themselves. Also, to avoid supply chain issues, here are some steps you can take:
• Outsource storage. Use a third-party logistics provider and establish a strong relationship.
• Invest in inventory management software.
• Choose call centers based on customer data. The company will thus be able to limit costs, while delivering its items on time. For example, if a large proportion of your customers live in Western Europe, but your fulfillment platforms are primarily located in Eastern Europe, your costs will increase. The company can also distribute its inventory across multiple locations to reduce last-mile costs.
• Try, whenever possible, to purchase goods and services from local businesses. This will save the company time and money on shipments and reduce production times. A regional carrier may service the region where the warehouse is located and will offer potentially better rates than national carriers.
Even if you manage to generate leads and attract more customers by doing better than your competitors, a poor customer experience can still scare them away. The company therefore has everything to gain by reinforcing its security, offering an omnichannel shopping experience coupled with impeccable customer support.
And above all, never forget to keep up with the latest e-commerce trends to stay in the race with every new technology that appears or changes in purchasing behavior among customers.