The sky’s the limit when it comes to eCommerce. You’ll find businesses online ranging from the small to the multinational. The advent of Etsy and Shopify have enabled many aspiring entrepreneurs to showcase their wares directly to customers without the hassle of storefronts, while the success of corporate giants like eBay and Kogan have spurred on competitors to follow suit. There’s no denying that eCommerce is where business is heading. Still, it can be difficult for startups and established companies alike to grow.
If your business belongs to either of these categories, here are some things you should be investing in:
Investing in a good website is a given. Unless you’re tech savvy with a flair for design whilst also being a user interface veteran, you should employ the services of web designers, graphic designers and a marketing team. After all, your website is the face of your business. It’s your chance to make a good impression. Studies have shown that the average website has 7 seconds to grab a visitor’s attention. Make it count. Also invest in promoting your brand: feature in blogs and articles, ramp up your social media campaigns and advertise. Make it easy for your customers to find you.
It’s an unfortunate fact of business that even the act of accepting payments itself will cost you money. Relinquishing a percentage of your sales to merchant fees is daunting. But it’s imperative that you make your business as flexible as possible for your customers. It’s worth it. Figure out what payment methods your target market prefers and make sure that they’re available on your platform.
Would you trust a company that keeps losing your order? What about a company that doesn’t seem to know what it’s doing? Your customers certainly wouldn’t so it’s well worth your while to get organised. If you run a small drop-shipping store, why not hire virtual assistants so you can provide 24/7 customer service? Or if you have a large inventory, hiring a labelling and coding company like Insignia can help you keep track of stock. Automating and simplifying company processes will save time, allowing you to focus your energy on product development and acquiring new customers.
Each and every eCommerce business may be unique, but they all possess the same potential for growth. The accessibility of the internet has made the world of online business a level playing field, where everyone has a global reach. While your specific strategy will depend on your target market, there are three investment opportunities no business should miss:
- Establishing a robust online presence and making yourself known to your customers.
- Making it easier for your customers to pay you by accepting various payment methods.
- Getting organised in order to let your customers know that you can be relied upon.
These factors, coupled with a great product, equal growth.