5 Keys to eCommerce Success
What are the keys to building eCommerce Success? Let's look at 5 ways to shape your strategy.
In recent years, we’ve all become aware of the importance of eCommerce. A gold-standard user experience is now expected by your customers. In fact, global retail eCommerce sales are predicted to surpass 4.9 trillion dollars in 2021. Numbers like this only suggest the business decision to utilize eCommerce to the fullest extent. Is your business maximizing the opportunities with eCommerce?
Keys to Success
Here’s five points to help you on your journey to build your eCommerce…for both you and your customers.
1. Your Site Is Your Hub
Rather than working separately, your digital platforms should operate fully integrated with your website serving as the main hub. From blog posts to case studies and news releases, conversion starts by leading customers to a central home base where your brand lives and breathes. Remember that your website is the front door to your business. It’s a look inside your company, so impressions matter. Visitors decide in seconds if they want to stay and possibly purchase your product or move on to somewhere else.
Your website should provide all the information your customer needs at each stage of the buying cycle...within a captivating design aesthetic. Is the design of your site simple and clean? Is it easy for viewers to navigate and find the products they want to buy? What’s the tone of your content and messaging? All of these things convey something about your company.
Driving traffic and providing content here is paramount, but generating leads and winning customers is what you want. With your site, you need to have all the components necessary to get results. It needs to have clear CTAs as customers move into the next stage of the decision making process. Also, it’s crucial to have a mobile-first strategy. Amongst online shoppers between 25 and 34 years old, studies show that over 40% view the mobile customer experience as being ‘critical’. Overall, smartphones will account for more than 50% of eCommerce sales globally this year.
Since your site is your home, make sure your visitors also feel comfortable with your brand, products, and services. Make your customers feel special, important, and valued as people, not just a consumer or a list. People like to receive offers and content that are actually relevant to their lives and interests. Simply put, personalization is a key component for eCommerce success.
An eCommerce study by Gartner showed that personalization can help businesses increase profits up to 15%. Research also shows that consumers spend 48% more as a result of strong personalization.
Powered by sophisticated algorithms that analyze digital-media trends, ads are shifting towards digitization and personalization. Amazon is a company that understands the power of personalization. 35% of what consumers purchase on Amazon comes from product recommendations based on these algorithms. As more retailers provide a personalized customer experience, the competition to retain and attract new customers will become even more intense.
3. Commit To Marketing Channels
There are many digital marketing channels companies can utilize within their centralized website. Whether it’s TikTok, Facebook, SEO, or email marketing, make sure you commit to the platform that fits your business objectives. Though try not to spread yourself too thin with too many platforms. Be selective. It’s important to look at your marketing budget and strategically decide which channels to thrust company ad dollars toward in order to get the best return on investment. Once you find the right platform, commit to your investment long-term to sustain success, engagement, and eCommerce sales.
4. Find Your Product Fit
Another important ingredient is finding where your product fits in the digital conversion mix. It’s key to know how your product differentiates itself in the marketplace, who will be using it, and why it benefits your audience. Does your product fulfill a certain need of your customer? Is the price right for your market? What digital platforms are appropriate for your brand? (Digital Marketing 101, right?) Once you have determined those factors, take the initiative to go after your target audience and sell your product (and brand) online.
5. Fail Fast, Move Forward
When it comes to any new endeavor, failure (of some sort) is inevitable. Failure is a useful tool in the hands of a person willing to learn from it. With every Edison invention that came to light, a few broken bulbs certainly happened along the way. It’s just the name of the game. Your eCommerce site, at one time or another, will more than likely falter in some capacity. eCommerce is a fast moving industry, and it is hard to keep everything running at 100% all the time. Competition is fierce, regulations change, and logistical challenges happen. The important thing is to get through that early period of making mistakes quickly – acknowledge failure, learn from it, and boldly move on.
Just like a puzzle, as you assemble key elements one at a time…your eCommerce venture will start to take shape. The more selective and structured you are, the more focused your business picture will become. If you want to find out more about leveraging eCommerce capabilities, Cuker can help your company maximize its unlimited potential.