Is Your eCommerce Business Not Doing Great? Here’s Why!
Starting an eCommerce business is easy. However, creating a Successful eCommerce Store is a big challenge.
A significant number of online stores fail. Here are a few reasons your Internet store might not be doing great.
Unprepared for the Holiday Rush
The holiday season is the best money making season for eCommerce stores. However, only a small number of online businesses prepare for the holiday rush season ahead of time — the one that starts after Halloween and continues until the New Year.
Related: Ready Your Online Store for the Holiday Season Despite the COVID-19 Pandemic.
Including product videos can have a significant impact on sales, with a potential to boost sales. However, not all eCommerce stores focus on this aspect of product promotion & marketing. If you’re not using video yet, you may want to get it running soon. Social media is abuzz with product promotion videos, product reviews, and unboxing of new products. Consumers are looking for such content to help in their shopping decision making and video serves as a great promotion tool for eCommerce businesses.
Some eCommerce failures are due to site navigation issues. As a result, visitors struggle to locate the shopping cart and checkout buttons, which is a frustrating experience for them and they end up abandoning their cart. Your site interface should be user friendly, so users are able to quickly process their request and checkout.
Lack of a Return Policy
Make returns easy for customers. Statistics reveal that about 8.1 percent of items are returned in online sales. Yes, every business wants returning customers, but not returns. However, returns are inevitable in business. In fact, 66% consumers read the company’s return policy before making a purchase and 81% expect a simple, hassle-free return process.
Make the whole returns process painless and allow them more time for return. This will help boost trust, and they will be willing to give you another chance and return to shop with you again. Additionally, make sure your policy is clear, visible, easily accessible.
Related: 3 Ways to Make Returns Easy for You and Your Customers.
How to Improve Conversion Rates
One of the prime reasons for poor conversion is the design of the site. Make it easy for visitors to find and use your interface. The site design should clearly lead customers to the shopping cart and checkout buttons. The website interface should be clearly accessible to those with disabilities.
- Be transparent about inventory. If something is out of stock, do not hesitate to declare. This will save customers time and frustration.
- Place security badges to show yours is a secure platform
- Direct visitors to customer feedback and recommendations on social networks
- Provide a working phone number
- Offer multiple payment options
- Send timely updates on shipping and status of delivery
Shipping is one of the key determinants in online shopping. Potential online shoppers may abandon your site if the shipping cost is high. They are more likely to leave if they aren’t happy with delivery time.
The key lies with coming up with a better shipping policy, with marginal shipping cost. Work out a shipping agreement with your vendor to pay less for shipping. If you pay less, you can share the savings with customers. It would also help to negotiate terms with different carriers. You may want to use your carrier’s packaging to save on awkward sized boxes.
You may want to offer a discount for advanced payment.
Give customers multiple payment options to choose from. eCommerce businesses are charged a higher processing fee on credit and debit cards. Consider using online payment services, such as PayPal, to reduce the burden of higher interchange and processing fee.
According to Baymard Institute statistics, about 68.63% of online shoppers abandon their cart for a variety of reasons, including:
- high shipping cost
- complicated checkout
- incomplete delivery details
- lack of security features
- complex interface
- long loading times
- hidden charges
- high total price
Related: 3 Quick Ways to Save Money on Shipping.
Take these simple steps to improve user experience and boost eCommerce business sales. It may be a good idea to use website analytics to see at what point shoppers are leaving. Honesty is still the best policy. So be honest and transparent with customers to improve trust and enjoy a lasting business relationship.
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