Based on 2019 statistics, e-commerce appears to be becoming more popular and online retail sales are expected to account for 13.7% of global retail sales by the end of the year.
This statistic clearly reveals that retail store owners prefer to sell online to get more sales.
For example, in 2018, according to US media, retail stores like Toys “R” Us, Claire, etc. closed their physical stores due to fewer shoppers.
As more and more retailers focus on selling online, the eCommerce industry is facing stiff competition.
Therefore, to carve out your own niche in e-commerce, you need to implement several strategies, keeping in mind the most important factors for a successful hack.
In this article you will find è key factors for success in e-commerce.
7 Key Factors for E-Commerce Success
While there are battles to be fought, it is Is it possible to run an e-commerce business in the midst of this competition. For that, you need to implement the following successful ecommerce strategies.
1. Brand name
Create a memorable brand name: Like Amazon, eBay, Flipkart, etc., your business name and domain name should be simple (maybe one word) and catchy. It must be easy to remember and pronounce. The reason is that most customers want to buy from branded stores. Therefore, choosing a memorable brand name is the first important step in launching an e-commerce business.
Make your brand consistent: Constantly changing the name of your online store affects your credibility as a business and leads to low traffic. Your brand name is your store identity. Once you’ve chosen a name, change it only if necessary.
Avoid changing your domain name: It’s not just your brand name but also your domain name that needs to be consistent. Your customers are familiar with your website, so changing a domain name will make your website less visible in search engines. Being consistent with the domain name gives your customers confidence.
2. Store design
Attractive Design: When it comes to the appearance of the showcase, the design must attract the customers. You need to build the stores with the latest features and display the product line in an aesthetically pleasing way.
Create an easy-to-use interface: The user interface is what grabs your visitors’ attention. You can design the store so that customers can easily find products and complete their purchase in a short period of time.
Transparency of your information: You must display your contact details clearly on all store pages so that customers can communicate with you at any time. Other store details such as product price, shipping cost and delivery time must be displayed accurately as transparency builds trust.
3. Search Engine Optimization (SEO)
Make Your Website Search Engine Friendly: You need to create a search engine friendly website as this helps you rank high on search engines. If you notice the translation of terms and conditions and other legal pages, please unindex those pages.
Use relevant keywords: You can use tools like Keyword Planner and UberSuggest to determine long-tail purchase intent keywords for your store. Using these keywords in your product description will increase your visibility on search engines.
Mobile Responsiveness: Also check your website’s responsiveness to help your mobile users. In other words, your website must be accessible or supported on the mobile device.
4. Multichannel marketing
Promote on social media: According to statistics, there are 3.2 billion social media users in the world. Then you can take advantage of this great opportunity to promote your store. Creating a business page on Facebook and Instagram can boost your brand’s online presence.
Content Marketing: Content marketing is a type of e-commerce strategy that allows you to acquire new buyers. Creating product content and publishing it on your webpage is an added benefit to your website. Likewise, making a YouTube product review video helps you get more traffic to your online store.
Email Marketing: Email is one of the best marketing mediums that allows you to connect with your customers. You can update your store’s current status to shoppers via email.
5. Personalized shopping experience
Customer satisfaction is the key: Customer satisfaction is the main thing to drive your business globally. Every new customer is important for your business; then you have to meet all the needs of the customers.
Simplify the customer’s work: don’t confuse the customer about your product. You need to clearly state what your company’s website actually offers. Therefore, show all the details clearly. Also, your website must have multilingual support if you want to expand your business globally.
Offer discounts and deals: Offering daily deals with lots of seasonal deals and discounts will make your shoppers happy. By doing this, customers will want to come back, whether they’re making new purchases from your store or recommending your store to friends. It is also indirect marketing to grow your business.
6. Multiple Payment Methods
For online purchases, 75.6% is the average cart abandonment rate. To avoid this, you can offer multiple payment options on your store.
Online Payment: Online money transactions are becoming popular now and buyers are familiar with net banking payment method. You can offer options like credit card and debit card, in addition to online banking, so you don’t lose customers. You can even offer your store wallet to pay the amount.
Offer third-party payment: Payment methods like PayPal, Paytm, Google Pay, etc. are more and more used nowadays when some buyers want to transfer money.
Offer offline payment: Customers are also more comfortable paying the amount upon delivery i.e. by cash on delivery (COD) method. So you can offer an offline payment option on your store.
7. Easy checkout process
“Add to Wishlist” Buttons: The “Add to Cart” and “Add to Wishlist” buttons are essential features of your store. These buttons help customers add the products they want. You can give them a red color to make them more attractive.
Single Page Checkout: To save your shoppers time, you can create a single page checkout option. The different segments like personal details, billing statements and shipping information are provided on one page. Buyers can quickly pay for their products.
Third-party integration: You can integrate a third-party shipping method into your store. The third-party member is responsible for delivering products to customers safely and on time.