Top 3 Tactics to Building a Well-to-do E-commerce Business: Revealed

Jul 28,2021 by Manoj Yadav

Today’s fast economic landscape reiterates the common notion – if you do not adapt to change and embrace new and emerging technologies your business will suffer. Reason – a plethora of disruptive technologies have evolved that have completely transformed the long-established way of doing business. These technological innovations are making it easier for end-users to get the product/service online, which is indispensably fueling the growth of e-commerce industry.

Building an e-commerce website is easy, but how you showcase your business and bring users in is not that simple. Businesses across all segments are considering e-commerce platform that is creating a fierce competition in the market. New e-commerce players continue to appear all the time. Apparently, creating a web presence is just the first step to digital journey. Thereafter, you need to ensure online e-commerce success. For this, you need to connect to your target users across all channels and platforms. But, how to do that? Well, by developing a lucid strategy, making little changes, and applying a few tactics, businesses can get a larger chunk of the market share.

Bank on Social Media Platform: Social media platforms like Instagram, Pinterest, LinkedIn, and Facebook are gaining traction these days. Reports suggest that Instagram is one of the online platforms that enjoy the highest average order value as compared to other prevailing social media platforms. On the other side, Facebook is the most powerful platform for user-engagement with the largest user counts. Both Facebook and Instagram can double the chances of end-user engagement. Thus by integrating these top-notch social platforms with your e-commerce business, you can navigate to new heights while proliferating your business reachability.

Inform and Engage: Most of the customers today prefer to read about a product before they purchase it. Herein, your content will act as a strategic asset for converting prospective a buyer into a potential customer. It is important to acquaint your visitors with the product specifications while elaborating how this product is right for them and how it will meet their expectations. You should always try to put strong pictures followed by captivating product descriptions.  

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Build Customer Confidence: If you can explicitly convince your end-users to buy services from you – you have won the race. But, how do you build this confidence in them is the BIG question. A host of recently published reports suggest that more than 60% of consumers rely on the experience of other consumers. Even I believe this. A few days back only, I was looking out to order a microwave. There are so many brands and I was confused for the choices. I clicked on the product, read its specifications, compared it with some other brands, checked how many customers have purchased that, and read the reviews. Ah, then I made the final purchase. And, so far I am confident that I made a right choice. The moral of the story is, you can also incorporate such tips to make your brand most compelling:

  • Put number of customer reviews and testimonials on each product/service
  • Keep your customers updated by displaying ‘how many have purchased’, in stock, or out of stock.
  • Display how many have added the similar product to their cart
  • You can also use recommender, which suggests people who purchased this have also purchased

Dig the reason for Shopping Cart Abandonment: Have you ever tried to find out why people are abandoning your shopping cart? A research shows that there is around 50% shopping carts abandoned, which is entailing big losses to the companies. A plethora of reasons are available for abandonment such as high shipping costs, intricate checkout process, feeble payment gateways, and forced registration process. You can take follow-ups by sending e-mails, you can even ask for the reason for abandoned cart, also you can introduce discounts or deals.  

In order to bolster shopper’s confidence and reduce the cart abandonment rate these pointers should be considered:

For businesses that don’t wish to lose on customers and seeking to build strong e-commerce presence – this is the panacea.

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