Starting an eCommerce business has become more popular and easy to do than ever before. It is one of the better business ideas out there. One just needs a product to sell then post it for sale on an online marketplace like Amazon or Newegg and wait for someone to buy it. Here is how to make your eCommerce business successful and increase eCommerce conversion.
Therein lies the problem, the waiting game in e-commerce could prove fatal to novice online sellers. Merely waiting for an organic sale to place is like playing the lottery. It is a hit or miss scenario when an online shopper goes to your website or reviews the product listing.
Around ninety percent of online businesses end in failure. A steady flow of customers is essential for an eCommerce business to flourish. Without sales, an e-commerce business is doomed to fail.
Make it easy for the customer
Online shoppers have minimal patience. They are well aware of the many different sites and sellers offering the same product. Customers do not like being hassled or forced to register to a site just to make a purchase.
Provide shoppers with the best browsing or window shopping experience and leave each potential customer satisfied. Making the overall transaction easy for the customer will make them keep coming back for more.
There are ways to ensure that the online shopper does indeed become a paying customer. Apply these techniques to help improve conversion rates and achieve a consistent stream of revenue.
Fast loading speeds
Amazon is one of the fastest online marketplaces to date. Their research indicates that for every one hundred milliseconds their site speed improves, their revenue increases by 1%.
Walmart had similar findings and experienced 2% increase in conversions for every one-second improvement to their site speed. Approximately 53% of customers are likely to leave the site if the webpage takes longer than two seconds to load.
One can use tools like Google Pagespeed or Pingdom to verify the baseline speed of their site. Then optimise the website to be faster. If the site was built using WordPress one can download plugins like W3 Total Cache to help load website data more quickly.
W3 Total Cache works by sending compressed cached files to website visitors which improves load times by leaps and bounds. Take a look at the hosting plan of your website as well.
Available hosting plans are usually offered in tiers, make sure to get the plan that provides the best site speed.
Optimised Product listing
Once the customer gets to the site, they will immediately search for the product they are looking for. Provided that the site is fast enough meaning that each page loads in about two seconds then the customer will continue to browse through the available products.
It is crucial that each product listing is optimised for SEO. If the products are also listed on Amazon, then make sure that the products pages fit Amazon listing optimisation standards.
Create a complete product title that includes the brand, size, feature, colour and quantity of the particular product. After that write compelling bullet points about how the product will solve the customer’s current needs.
Once a customer reads that a particular product will correctly do what they require, then they are likely to add that to cart. Write the complete physical and technical specifications of a product. Customers like reading the different specs to make sure they receive what they are looking for.
Some consumers don’t even read the product description and go straight to the images of the product. Around 70% of online shoppers base their purchase decision on pictures of the product.
Good product photos speak for themselves, they highlight a product’s quality and features to make shoppers want to own them. Use only professional images that show the product in use and also in a white background.
Customers want to see the product in all its glory, take photos of the product from different angles. Doing so will provide the shopper with many views of the product they are looking to buy.
It will help them picture owning it which will allow them to envision the product in their daily lives. Great product images will help convert that shopper into a paying customer.
Everyone loves getting a discount. Consumers and online shoppers scour the internet to get the best deal possible. Most shoppers that visit Amazon look for the product they need at the lowest price they can get it for.
They do this because they are well aware of Amazon’s strict policies on customer satisfaction. Consumers will take the risk of ordering a product that is cheaper from an unknown seller even if that product has no reviews.
A seller that offer products that are more affordable than the rest of their competition hold an advantage. One can create promotions or provide discounts on new products to accumulate sales which will help the product rank higher in the SERP(Search Engine Results Page).
A seller can offer the discount until they reach their sales goal. It is a brilliant method to launch a new product or rekindle sales for a stagnant product as well. Create simple coupons that can be shared via social media to get interested shoppers straight to the site.
Make sure to include a direct link to the product listing. Create promotional codes that can only be used once to prevent consumers from abusing the promotion. Some sellers made the mistake of creating just a promotional code which can be used repeatedly and customers shared the code in various forums.
That mistake will cause all inventory to be sold at the discounted rate which is the last thing sellers want. Be careful when using promotions and only set a the inventory quantity to be sold at a discount.
During the time that a product is on sale, take advantage of that and reach out to those customers that bought the product. First, send them an email proactively offering to answer and fix any concerns they may have with their order.
Then once they receive the product send another email a couple of days later asking for their honest review. Make the customer feel how valuable their feedback is to the company. If the customer was indeed satisfied with their purchase, they might feel inclined to write a review.
Good reviews also help products rank higher in the SERP. In case the customer still does not write a review the last resort would be to send them a coupon with a discount code to be used for their next purchase and again ask for a review.
Good reviews help build trust with prospective customers. Experienced online shoppers make it a point to read the reviews before going through with any purchase. Capitalising on getting more reviews will help boost a sellers rating as well as the product’s ranking in the SERP.
Acquiring a steady stream of online shoppers is crucial to the prosperity of an online store. Converting those customers is an art that needs to be mastered. Continuous testing is essential to figure out what design or product image works best to convert more shoppers into bonafide customers. Offer discounts for new or slow-selling products for a nice jump in sales. Make it company policy always to provide stellar customer service and push for reviews.