BEING SUCCESSFUL IN AN E-COMMERCE SATURATED WORLD
eCommerce has been steadily increasing and has no halt in sight. By 2020 the online retail market worldwide is expected to be more than double what it was at just three years ago. With new businesses having the ease of launching an online store almost anyone can be an entrepreneur but not every entrepreneur will be successful. Over 90% of new online businesses are shut down within 6 months of opening. According to Marketing Tech, most of these failures are due to a few easy to fix mistakes.
A common mistake is throwing together a website without taking the time to make sure the site is easy for consumers to navigate. This mistake is often due to new business owners focusing more on appearance than the function of the website. While the design is an important aspect of an online store, the user experience on your site will help determine whether or not a consumer continues to use your business or switches to one of your competitors.
Offering too much or too little information regarding your products and services can be detrimental. If there is too much information requiring the consumer to read unnecessary information and keywords to find out about the product, they are likely to be turned off. The same concept is applied if there is too little information about the product or service offered. If the consumer does not know or understand what is being offered, they will not make a purchase. Clarity and conciseness are two very important factors when giving descriptions of your business.
Failing to define your target audience and instead, trying to reach the masses, is a common practice among new online business owners. While the thought process is usually along the lines of the more people, I can reach the more I can sell, this thought process will result in a lot of wasted time and money trying to convert consumers that are not interested in your business.
While the hot new trend is social media marketing and focusing on the easy, less time-consuming marketing practices, content marketing is still a major key in a successful eCommerce business. Content marketing provides 6x more leads than most other advertising methods. Investing in creating blog posts, quality product descriptions and on page content will likely lead to a larger return from your marketing efforts.