If you have an eCommerce store, or you plan to start one, the Magento mobile app development service by Dinarys is going to back you in all stages. To ensure higher returns and productivity, we have prepared a list of 5 common (and preventable) mistakes that startups tend to make in the first few years of their lives that reduce sales and conversions.
The goal of the list is to give our readers a realistic understanding of what it takes to determine the success of an e-commerce business and how to proceed to win over potential customers. That being said, let’s take a quick look at the preventable mistakes in an e-commerce project.
Mistakes to Avoid to Build a Successful E-commerce
Online shopping is definitely both luxurious and comforting as you get to buy trendy clothes from the comfort of your home. Globally, 2.05 billion people worldwide make online purchases on a regular basis. Since the business is a full bloom, entrepreneurs can unlock the potential of modern e-commerce with the correct strategizing and planning.
E-commerce or electronic commerce is not just about buying or selling online goods, but it’s more about having a deeper understanding of customers’ needs to make the business thrive. To make your product stand out and get a competitive edge over your opponents, you need to do thorough research about competitors and their product quality.
It takes years to build a unique identity for your product in the market. However, a small mistake can vanish all the efforts that you have been putting through for years. Here’s a list of preventable mistakes that can help your ecommerce business flourish.
Lack of a Product Strategy
One of the main reasons why an eCommerce company will not be successful is the lack of a clear product strategy. In fact, most online stores seem to offer some kind of service – often you’ll find electronics, clothing, cosmetics, and food sections on the same site!
This is not a target line and will make you look like an unfocused company.
Here’s what you need to consider if you want to find the right balance of products to sell on your online store:
- Products that solve a problem: Offering a solution leads to increased sales potential. Keep an eye out for common frustrations and products that can help people shed light on their daily problems.
- Attract Fanatics: When a certain demographic is leaning towards a certain movement or trend, they will want to buy a product associated with your site and engage with your brand.
- Sell Your Experience: Have you solved a specific problem in your industry with your service? Well, that means you can turn this skill into profit and have a one-of-a-kind e-commerce product at the same time.
- Make money on popular products: Follow trends and be the first to offer a new product on your website. Listen to your target market and customers, find out their curiosity, and what they are looking for in online marketplaces.
- Identify High-Profit Products: If you want to sell physical products, start with inexpensive ones so your profits can increase. When you evaluate these elements, consider the entire investment, from finding products to marketing them.
A well-defined and fully-analysed is the success mantra of every renowned e-commerce business. If you want to make money with an e-commerce website, you are obliged to follow the industry trends and keenly observe your competitors.
Missed Opportunities Due to Weak Content
Even if you sell the best products at the best price, without good content, you won’t be able to maximize profits for your eCommerce business.
When people open your website, they quickly decide if you are cheaper than the competition. So good content is the key to convincing others that you offer something more than other comparable websites, be it a product description, photo, video, or blog post.
Weak Ranking System
Even after offering unique products, there is no guarantee that they will rank well on Google. When customers search for a product, they land on a search engine results page (SERP).
As an e-commerce company, your goal should be to get your product pages in the top ten search results. But this is easier said than done. SEO is not an easy task and can sometimes be especially difficult.
Misdirected Marketing Efforts
Having a larger marketing network doesn’t always translate into more profit. Driving inappropriate traffic to your site only lowers your conversion rate.
Take a look at this list and make sure you don’t make the following eCommerce marketing mistakes:
- Brand voice is vague: This is the fastest way to be ignored as an e-commerce site. A clear and relevant brand voice is the best way to make money as an e-commerce site you will lose the trust of potential buyers, reducing your conversion rate to zero.
- Overly Promotional: There is a fine line between marketing and sales, and therefore, overly intrusive sales language will turn people away from your online store. Instead, you need to focus your efforts on meaningful content that will get people interested in your products.
- Unsegmented Emails: Email marketing can be one of the best channels for converting leads. Everyone who usually subscribes shows some interest in your products, but if you want every newsletter to be profitable, you need to segment your subscribers.
Use Excessive Design
In any type of business, not just e-commerce, it is important to have a well-designed site and make your brand memorable. However, web design rules and beauty standards may vary depending on the online store.
The Bottom Line
A modern e-commerce website should be functional, secure, responsive, and fast, but at the same time, it shouldn’t look complicated. If you go overboard with the design, your conversion rate won’t be as high as you want it to be. Make your site interesting yet easy to use. If you have started the Magento 1 to Magento 2 migration process, then we have a Magento 1 to Magento 2 migration service for you.
These are some of the mistakes that you must avoid while launching a new online marketplace and establishing a successful e-commerce business.
So what are you waiting for?
Use these tips to boost your e-commerce business today!