Experts say 95% of purchases will be via ecommerce by 2040. The potential impact of the current pandemic may speed up this trend. So, it’s worth taking a look at some key things you need to know before starting up.
Unique Selling Proposition
The most common reason for e-commerce startup failure is lack of customer demand. Don’t assume the market wants what you’re offering. You have to solve a current market problem. You need to articulate how your product is different from other brands. Make it stand out from the competition. This starts with extensive market research on what motivates customers’ buying decisions.
Attractive User-Friendly Website
An appealing, easy-to-use website can enhance the visitor experience. Beautiful photography is a must. Use a thicker font to highlight new trends or promotions. Display the right amount of white space in combination with bright colors. Try something a little bit different from the rest. Short videos to show how products work are always helpful.
WordPress, WooCommerce, and Shopify are among the available options. Shopify is great if you aren’t technical or have a large budget for a custom website.
First Class Customer Support
Another significant reason behind ecommerce failure is that user feedback is seldom obtained. It’s always good to tackle the issue that generates the most complaints. Offer the following channels to increase customer satisfaction:
- Contact information
- Live chat
- Social Media
- An ‘About Us’ section
Customers want to feel part of an exclusive community. After a customer has purchased from your store once, place them on your VIP list. Private links can then give first access to new products.
Efficient Payment And Returns Process
Imperative to making money is the ability to capture online payments. Having several payment options is helpful. Online payment gateways offer two main benefits to eCommerce businesses:
- A fast, simple checkout process to secure sales
- Protect customers’ information via encryption
Paypal, Amazon Pay, Google Pay and Apple Pay are among the biggest names in online payment options.
The returns process should be accessible and simple. Provide a direct telephone number for added value for the customer. Communicate your return policy on your site footer and encourage customers to use it.
Fast Loading Time
Your website page load speed has a direct impact on conversion rate as well as visitor satisfaction. Host pages need to be reliable and cope with any unforeseen upsurge in visitor traffic. Studies have shown most online shoppers abandon a site after only 3 seconds of loading time. The size of your images can also influence your site speed.
Make sure you’re using a reliable web hosting provider. A2 Hosting, Bluehost, HostGator and Hostinger offer high-speed performance. They also provide free templates, user support and money-back guarantees. Tools such as bitcatcha.com measure server response speed to requests anywhere in the world.
Get the basics right before you start and you’ll save yourself future headaches. Testing out some of these features with your customers may give you the best chance of a profitable online business.