10 Key Factors for Successful E-commerce Business

Ecommerce

Sunny Chawla, Negosentro |  Tell me, what are those things that motivate you to buy a product from a particular website? What all factors you consider?

These are the factors that you must consider to bring success to your own e-commerce business. These are key factors that will help your Ecommerce store gain edge over the market competition and ultimately sell more!

 

Business Branding

 

Do you have a preference for brands like Gucci or Prada?

A brand helps to develop a strong belief. For this reason, even though the price is high, still people prefer buying branded products. If your business is not able to follow brand building or lacks a proper scalable process, then you need to fine tune to brand building.

How can you build a strong brand?

  • Offer unique design, exclusive products and maintain high quality.
  • Use social networks to exhibit your products and follow innovative brand promotion techniques.
  • Plan multiple display advertising campaigns.
  • Participates in question and answers forums and ask questions about your brand.
  • Showcase reviews, testimonials, and feedbacks across networks and site.

 

USP

 

What is the Unique Selling Proposition of your business? How are you different from other companies in the same line?

Usually, buyers spend a good time on research. They are curious to know about a product’s quality, price, guarantee, customer support, and payment plans. When finding the business USPs, exhibit it everywhere. This will help buyers make a reliable decision.

 

E-commerce Store Experience

 

It is of utmost importance to give buyers a rich store experience.

Make your store user-friendly. Design a pleasing layout, speed-up uploading, streamlined navigation, and simple buying process. With a good e-commerce platform, it is possible to get more customers than otherwise.

 

Think About Customer Retention

 

Your business cannot succeed until you have a pool of loyal customers. Customer retention is important to get more sales and build the positive image of your brand. A loyal customer not just buys from you, but he also helps to increase your sale through word of mouth.

Moreover, you have to out in fewer efforts to sell products to your existing customers. They are already aware of your terms and policies and won’t be affected by any doubt.

Stay connected to your existing customers and makes them feel special to retain them.

 

Plan Multi-Channel Marketing Strategy

 

The Internet is full of lucrative opportunities. Businesses who take them in consideration are able to make more and succeed as compared to those who are not able to do this.

The success mantra is to spread your reach everywhere. Plan multi-marketing strategies for business promotion! Don’t depend solely on search engines to bring in desired results. your marketing strategy must focus on different marketing channels, such as referral marketing, affiliate marketing, SEM, Social Media, Email marketing, and other offline campaigns. This will branch out your reach.

A single source would not be able to bring you the regular and high volume of buyers.

 

Regulate Product Pricing

 

Customers do compare prices between brands. To be a successful entrepreneur you need to be aware of pricing policies of the competitors.

Out there are various tools available, which you can use to compare prices, like Import.io and DataCrops.

Think of an effective pricing strategy to get the sweet spot in earning and attractiveness, depending on the market and type of products that are priced. For example, keystone pricing is a common pricing strategy that almost doubles the wholesale price.

Competitive pricing, psychological pricing, discount pricing, and value-based pricing are other strategies that you can consider.

 

Create a Lasting First Impression

 

Users know whether they like a site or not by glance and the first impression usually lasts.

Making a good first impression is essential to get more online customers. Create an eye-catching design that can entice people and encourage them to use your e-commerce site.

There are certain specific principles related to good designing, which you need to follow. This will convince people. It must not be too barren or too loud. Everything on it must be easy to comprehend and yet maintain your exclusive personality.

 

  • Maintain High Shipment Security

 

A major fear that keeps away most of the people from buying products from e-commerce store is the problem of security.

With financial and personal information available online, there is a scope for potential sites to get compromised and experience customer’s data stolen. This is particularly true for information related to the credit card that is entered online.

Hence, you need to use an SSL system to offer a secured shopping experience to your customers.

 

Take Advantage of Mobile Commerce

 

There is a tremendous increase in mobile users over the last couple of years. Hence, make sure you keep your e-commerce store mobile-ready.

If your e-commerce store is not optimized then you might miss lots of business. Some important things to optimize your ecommerce store for mobile is a responsive design, easy-to-use navigation, convenient payment and checkout plans, robust mobile search features, and more.

 

Maintain High-Product Quality

 

Might be practicing all above measures may increase your overall cost to some extent. But this does not give you space to reduce the product quality.

Make sure you maintain high product quality and are able to procure product from a reputed and trusted suppliers. You need to uphold your standards high across the board. If you ever offer a low – quality product to customers then it can break your business down.

Other than this, keep the feedback system transparent to changes in the input and take necessary corrective actions as soon as possible. This is a lasting process as there are always ways to enhance and improve.

Final Words

If you are planning for e-commerce development then this is a perfect time. With more people getting familiar using e-commerce to avail various services and products, we will surely witness more amazing features and solutions in the e-commerce industry.

Think about the success factors for your business. How can you sell more? If still need some help for your e-commerce store then contact us.

Author Bio :

Sunny Chawla is a Marketing Manager at AIS Technolabs, which provides Custom E-commerce Website Development, helping global businesses to grow in the online market. He would love to share thoughts on Application Development and Digital marketing.

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