Pitfalls of an Out-of-the-Box eCommerce Solution
With the world going online, digital business is an opportunity for entrepreneurs of all kinds. While the internet is brimming with eCommerce websites, one might start to wonder what new can be brought to the table? The online space is certainly congested with myriads of sellers who are trying to make it in the highly competitive arena of eCommerce. But that does not mean that they are all winners in this game.
A successful eCommerce solution requires careful planning and execution, and you may fail to create a brand out of your startup as you had initially planned. So, what can you do to make sure that your enterprise proves to be a success? In spite of a deep study of the market, competitors and marketing strategies there are certain risks involved in every business. In this article, we bring you face to face with the pitfalls involved in every eCommerce business that will help you understand what and what not to expect while starting an eCommerce business:
1. Out-of-the-Box or Is It?
For decades, we have been told to think out-of-the-box but it’s time to rearrange that thought and think smarter instead. The winner in the business of eCommerce is not the one with the most innovative idea but the one who knows how to master the key rules of the business. There are so many startups in the market already that no new idea is new anymore. So instead of hoping to breed a never-thought-before idea, focus on ways you can sell your idea better than the rest. Most of the times, more than the idea it’s the strategy that sells.
2. Wrong Development Platform:
Like every other eCommerce entrepreneur, it is almost inevitable to come face to face with the biggest platforms ruling the market currently like Shopify, BigCommerce, Magento and so on. It is crucial for you to think thoroughly and decide on what suits your requirements the best. Before settling on a choice, it is best to understand all your options, see what serves your purpose best and which platform will be the ideal choice in the long term. For example, Magento is a popular choice amongst eCommerce solution providers however, it may prove to be an expensive choice to maintain in the future. Henceforth, it is always best to consider all your options and decide carefully before making a decision.
3. Lack of Customer Retention Strategies:
Just like any other amateur, most eCommerce entrepreneurs fail to understand the importance of customer retention. They focus on conversion and profit margins so much that they lose on retaining customers. It is important for any eCommerce fresher to understand that it is as necessary to retain old customers and as it is to attract new ones. A major part of the company’s marketing and conversion relies on customer’s loyalty. Therefore, in the beginning, it is more important to aim at smart SEO strategies instead of profits. Retention strategies along with new traffic are extremely important to grow your business.
4. AdWords Campaigning
Everyone in the eCommerce arena knows how effectively Google AdWords can be used to advertise their business. What most people fail to understand is that it requires smart and well thought out campaigns to actually increase conversion rate through Google Ads. How is that done? By targeting specific keywords. Instead of trying to up the rank of your website in hay full of top-ranking world-class brands, target your efforts towards particularly easier and specific users. This will not only bring you more results for the dollars spent but also help you take the better advantage of an ideal advertising platform.
5. Social Media Endorsement
As millennials, we all know the amazing platform social media provides to reach out to the farthest of the corners of the world via a few clicks. However, now social media is more than just a pathway to reach people around the world. Social media has now evolved to the level that it is now one of the most effective ways to introduce, build and even sell a brand. Take your time and learn the little tactics of how to advertise your brand on social media platforms to make the best of it.
6. Mobile Incompatibility
While every eCommerce startup makes the best of efforts and takes maximum time in building a user-friendly website, what they usually fail to do is to make it responsive. Statistics from 2018 indicate that 54% consumers visit eCommerce sites on their mobile devices and 30% of those make purchases on the same. What is more alarming is the number of users that moved to the competing seller after a bad mobile experience: 40%. So, undoubtedly, a responsive mobile website is an extremely factor to consider while building an eCommerce solution.
Rounding it Up
Every business has some pitfalls, especially eCommerce but they can be overcome with forethought and careful planning. What makes up for a good business idea is creativity, forward-thinking and smart planning that goes into it. And not to forget to maintain top-notch business practices while going at it!
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