Why Your eCommerce Business is Not Doing So Great.
Starting an eCommerce business is easy. However, creating a successful eCommerce store that is attracting customers and converting well is a big challenge. A significant number of online stores fail.
Here are a few reasons your eCommerce 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 ahead of time. The holiday rush starts after Halloween and pretty much continues until the New Year. Black Friday, Cyber Monday, Christmas, are the main Holiday rush.
Related: 3 Ways to Avoid Holiday Shipping Disasters,
No video
Including product videos can have a significant impact on sales, with a potential to increase sales by about 144 percent. 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.
Related: Start a YouTube Channel for Your eCommerce Store.
Navigation problems
Some eCommerce failures are due to site navigation issues. As a result, visitors struggle to locate the shopping cart and checkout buttons or they aren’t able to easily register their account. If your online store provides a frustrating experience for shoppers, they end up abandoning the cart and going over to your competitors. Your online store interface should be user friendly, so users are able to quickly process their request and checkout. Their shopping becomes quick and painless and you get paid quicker.
Related: Decrease Your eCommerce Store’s Load Time and Increase Sales.
Lack of a return policy
Make returns and exchanges 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: Customers Want Easy Returns and Exchanges.
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.
Earn trust
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
Display your company’s privacy policy
Provide a working phone number
Offer multiple payment options
Send timely updates on shipping and status of delivery
Related: 4 Quick Tips: Boost your eCommerce Store’s Trust Factor.
Shipping
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. OR go the easy route and outsource order fulfillment to save money on shipping.
You may want to offer a discount for advanced payment.
Related: Free Shipping Versus Fast Shipping for eCommerce.
Payment processing
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.
Related: 3 Quick Tips: Start Your Cross Border eCommerce Business.
Cart abandonment
According to Baymard Institute statistics, about 68.63% of online shoppers abandon their cart because of high shipping cost, complicated checkout process, incomplete delivery details, lack of security features, complex interface, poor layout, long loading times, hidden charges, and high price among many other reasons.
Related: Why Do Online Shoppers Abandon Carts?
Bottom Line
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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