ExecutiveChronicles | Simple Secrets: 5 Strategies Used by the Most Successful eCommerce Companies | Running an eCommerce company can be a fantastic way to build your wealth. After all, more than 90% of the world’s population already shops online, so the market is massive. With that said, it’s safe to say that competition in the eCommerce industry is fierce. You must go above and beyond to stand out from the rest and attract customers to your store.
When consumers shop online, they are looking for specific perks from the businesses they visit. If they don’t find these benefits, they will move on to a competitor who offers what they want. If you run an eCommerce business, the strategies below can help you become an online success.
1. Offer Several Payment Options
The more payment options you offer your customers, the more inclined they will be to complete their purchases and not abandon their carts. Most eCommerce fulfillment companies offer a plethora of payment options, so be sure to confirm this important feature when choosing your fulfillment partner.
2. Make It Easy for Customers to Find What They Want
Most online shoppers know exactly what they want when they land on your site. They don’t want to waste time browsing through all your products before finding the ones that meet their needs and desires.
To help make shopping quick and easy for your patrons, include advanced filtering options that help pinpoint exact products quickly. Advanced search options will allow customers to sort products by category, which increases convenience and, in turn, boosts your bottom line.
3. Feature New Products
There’s a certain allure when new products come on the market, and you can use this to your advantage in your digital store. Showcase new products, as well as those that sell the best. Place an urgency on buying these products by listing them as “limited quantity” or “for a limited time.” This entices shoppers to purchase the items right away or risk missing out. Don’t forget to collect email addresses so you can send regular newsletters announcing new products and sales. This is a crucial step in turning casual customers into committed brand fans.
4. Offer Discounts
It goes without saying that shoppers love to save money, so offering and highlighting savings will encourage conversion in your digital store. You can use discounts to reward returning customers by implementing a loyalty program, or you can entice new customers to shop by offering a discount if they sign up for your newsletter. Offering regular discounts that customers come to expect in the form of weekly sales is another great way to keep people coming back when they need what you’re selling.
5. Offer Free or Reduced Shipping
Nearly 50% of online shoppers admit to abandoning their carts because of high shipping costs. That equates to thousands of dollars in missed sales simply because the store owner wasn’t mindful of their shipping rates.
If you aren’t sure that you can afford to offer free shipping, try implementing it for a limited time and see the effect it has on your bottom line. Alternatively, you could offer free shipping for spending over a certain amount or for signing up for an account on your website. This way, not everyone is eligible for free shipping, but if it’s important enough, the consumer will do what you require to get the perk.
An online store can be a lucrative business, but competition is fierce. Your website needs to stand apart from all the others to attract and retain customers. Implementing the strategies listed above can help you do precisely that, getting you a few steps close to the success you seek.