How does E-commerce work? Why should I sell online? What goes behind making it successful? How to increase profit? These are some of the questions that might pop up in your mind while you are surfing through the internet to know all about E-commerce. A lot of information about E-commerce business might be too much to handle if you are new to the trade.
Therefore, to make your life easier while you are struggling with E-commerce website development, here are a few pointers to help you make it big in the world of online business:
Know Your Business Plan
“The way to get started is to quit talking and begin doing” - Walt Disney
You need to have a plan before you go about implementing the steps to start the E-commerce website. One of the most proven ways to efficiently carry out a plan is to write it and set a dedicated timeline for the same. Self defined deadlines are easily achievable. Also, a written plan will help you track the progress of the plan.
Explore Your Market
Research is the key to establish a successful E-commerce business. Research includes knowing everything about your competitors. The range of products and services provided by them, the price range and support facilities. All these factors contribute in developing a loyal client base for the business.
The more you research, it becomes clearer to define your own range of products and services. Price range of the competitors will help you decide your own price range and whether there should be an increase or decrease in the same. Thus, to sum up research clears your perspectives on running an online business portal.
Set Up Your Online Store
Technological advancement is supported by multiple devices that makes everything easily accessible. To keep up with the technologically advanced surroundings your website needs to be developed according to the latest trends. An optimum user experience, bug free website and a quick page loading speed are some of the essentials for a popular website.
A responsive website basically means the one which is able to fit different screen sizes. Your customer can have an access to the website from any device without having an effect on its overall performance. Our team of experts ensures that we deliver the best in class E-commerce web development services to provide your customers with a qualitative user experience.
In spite of having a beautiful site or popular products, an unclear product description is bound to affect your conversion rates. One of the major drawback of shopping online is that your customers can’t examine the product physically. Therefore, they rely completely on the images and product description.
Think about your target audience and provide a solution for them accordingly. Visual representation of the product is what ultimately convinces them to buy your product. For instance, a 3D representation of the product in real life backgrounds will help them relate more with the product.
Get People Hooked On Your Brand
Content marketing is the latest trend to make your brand visible. Attracting more customers by keeping them hooked with your brand tag line is the strategy. Constant presence on social media will also keep the customers engaged as they will want to check out on the latest addition of products to your list.
Apart from this, providing custom made offers to your existing customers or to the ones who have shopped a few times from your E-commerce website will keep them from shifting to other brands. Because let’s face it, who doesn’t like discounts!
Sell More with Social Proof
According to a recent study, 70% of the consumers trust the reviews of other customers while shopping online. You can take advantage of positive customer reviews to prop up shopper’s confidence and increase product conversion rate.
Some of the ways to get an increased revenue with social proof are:
- Display the number of products sold till date
- Put the total reviews count on display
- Show the number of people who added or saved a product to their wish list
- Testimonials on Product Pages
For any online store, social proof will help drive more sales and also provide potential shoppers with news about other exciting or trending products being sold by the site.
Inviting customers to purchase complimentary or similar items is a well known marketing trick to increase revenue. In real life, it would be like a salesperson suggesting you to buy a complimentary item or service with the product you are about to purchase. You can do that too for your E-commerce store by offering bundled products or accessories to go along with the customer’s actual purchase.
Moreover, you can research and offer products on discount that are often purchased together. Cross sales has turned out be an effective means of increasing the revenue in recent times.
There are a variety of reasons for people to abandon their online shopping carts. According to a research, the average cart abandonment rate is 68.63%. Some of the major reasons for this are shipping costs, checkout process, payment options and account registration.
There is a solution to every problem. The cart abandonment rate can be reduced by making the shipping costs as transparent as possible as that is the leading reason for cart abandonment. Making the checkout process easier will enable a smooth shopping process for the consumer. Giving the customers a varied range of payment options will keep them coming back as they get to pay as per their own convenience. Don’t make them register on your E-commerce site as compulsory registration also leads to cart abandonment.
FOMO is the Fear of Missing Out. These apps will add popups to your online store which will appear regularly while a customer is on the site. FOMO alerts help increase revenues in ways like
- Making the store look busy
- A sense of urgency with constant updates
- Instigating action
- Building Trust
Some Examples of FOMO alerts are
“A customer from Australia just bought an organic beauty product”
“A customer from India just signed up to our newsletter”
FOMO has turned out to be one of the most popular ways to increase the number of visitors on the website, reduce the bounce rate as well as instantly start the shopping process of the customer.
After doing everything that you need to do for your online store, make sure that you are updated with the activities of your competitors as well. The latest addition in product range, discount offers or any additional non-monetary offers for their loyal customer base are some of the things to consider. Information of these things will assist you to stay ahead in the game.
Now that you are familiar with the tricks of the trade let’s get started with your web development requirements. Although it might get a little confusing or difficult to carry out the setting up of your own E-commerce website,remember why you started in the first place.
How about a chat with our experts to tell you everything about having your own E-commerce website? Click on www.kodytechnolab.com now!