With the rise of eCommerce, sellers now have even more opportunities to thrive and succeed online. Increased demand, on the other hand, brings with it additional issues, questions and concerns. It’s time to dispel some of the eCommerce myths that are preventing your company from growing and reaching its full potential. We address the most popular eCommerce fallacies. Plus, we examine these in this post what it takes to run a successful online store.
Myth 1 – On the net, there is wastefully competition
As eCommerce sales develop, we will see an increase in the number of people shopping online. While the eCommerce industry is competitive, there is still much room for businesses to stand out and reach out to new customers. Some say that there are too much competition online. Yet, in the long-term eCommerce success can be accomplished through strategy. In other words, via agility, planning, and resilience, all even in vastly competitive businesses.
Myth 2 – eCommerce sites must be free or inexpensive
An online storefront, as with a physical one, requires investment in order to generate attention, grow sales, and see returns. However, unlike a physical business, your online storefront has the ability to reach a large number of clients. More so, this can be regardless of their location. Your online store is a wonderful area to invest to expand your reach and develop your business. That is since it has almost infinite growth potential. Just remember you need to keep your site fresh, by reinvesting and updating the site.
Myth 3 – My consumers refuse to shop online
If the digital transformation of 2020 has taught us anything, it’s that customers can and do buy almost anything online. Whether your consumers are hesitant to switch from purchasing in person to ordering online, it’s possible that your existing website isn’t serving their demands or offering a compelling reason to buy from you. If you don’t give comfort, advice, convenience, inventory visibility, customization choices, security, and personalization during the buying process, you’ll lose otherwise eager consumers.
Myth 4 – It’s not a prerequisite to improve my website
You can’t simply build a website and forget about it, in eCommerce. A good website serves as a basis, but there are always things you can do to enhance, grow, and optimize it. You must keep up with industry trends. Also keep an eye on your consumers’ behavior and motives, and understand what works and what doesn’t for your company. The consequences of doing nothing with your website might be disastrous for your business.
Myth 5 – I’m already earning sales, therefore there’s no need for me to make any changes
Here’s the thing: eCommerce is a fast-paced industry. You must continually modify your business to remain competitive. This is since things change and customer brand preferences shift. Even the most well-designed sites may become obsolete, gaining minimal traffic and many dissatisfied consumers. All of this just since they fail to innovate. Your product merchandising, site design, checkout procedure, promotional efforts, and overall brand experience may all be differentiated from the competition via innovation.
Myth 6 – The only thing that matters to customers is the price
While pricing is a significant factor for many customers, most firms cannot afford to provide their items at the lowest possible price. When buying online, customers evaluate convenience, flexibility, and user experience, and some even take into account the company’s social responsibility and community participation. Consider differentiating your company by building trust. Also establishing authority, and providing perks such as superior customer service. Additionally offer unique product options, and convenience of purchasing.
Myth 7 – If my items are good enough, they will sell themselves
While your items may be one-of-a-kind, they won’t be able to stand out online unless you have the right channels in place to acquire and keep consumers. To boost demand for your business, attract visitors, and nurture consumers into becoming repeat customers, you’ll need to use marketing strategies such as paid advertisements, search, email, content, and social marketing. To differentiate yourself from your rivals, you’ll need to carefully place your items in your message. You can also use merchandising techniques, and express your distinct value on a regular basis.
Myth 8 – Selling through other channels is too much work
Many firms are altering their sales methods in the present commercial landscape to seek new channels and generate more money. Product-makers whose stores have closed are selling direct to consumers, while offline B2B enterprises are digitizing their operations to attract modern buyers. It’s simpler than ever to grow into new channels and markets, thanks to the evolution of online selling solutions to suit these developments.
Myth 9 – My website will never be able to compete in the marketplace
It’s no secret that Amazon and other eCommerce marketplaces are big players. For instance, Amazon and other marketplaces can help you generate demand and add to your sales channel. Yet, having a strong independent web presence provides you with more influence over your company’s performance. There are, however, many things you can do that Amazon cannot in order to provide a brilliant and unforgettable experience that keeps customers coming back.
What you should be doing!
Stop believing in eCommerce urban legends
Even the most successful businesses may be fooled by the misconceptions that prevent them from succeeding online. Now that you’ve debunked some of those myths, examine the areas in which you’re encountering unneeded roadblocks to your progress. Also this is where you could be losing out on important possibilities. We’ve been assisting businesses since 2014 in identifying and overcoming the myths and misunderstandings that are impeding their development and success. Give us a call if you believe something is preventing your online company from genuinely flourishing.
Re-engaging and re-recovering customers during the phase of awareness
You have three fantastic techniques at your disposal to re-engage and regain consumers during the awareness phase:
Cause a Potential Exit to be disrupted
To begin, it’s critical to thwarting a customer’s decision to leave your website by re-engaging their interest and directing it back to your store. This may be accomplished in this way:
- When a customer’s mouse cursor moves towards the back or exit button, you may offer them a tempting discount coupon or product offer in return for their email address. Exit-intent offers are fantastic since they refocus a distracted customer’s attention while also capturing the email address of someone who is going anyhow, giving you extra leads to follow up with.
- When a consumer opens a new browser tab, an audio chime is played, and the tab favicon of your website is changed. These are ideal for drawing attention back to your website while also lengthening average session time, which is beneficial to SEO.
Provide a Remedy for Abandonment
The next step is to provide consumers an alternative to abandonment that will get them closer to your checkout page.
This can be accomplished in a variety of ways, including:
- Customers are presented with appropriate offers after a set amount of time on your websites. For instance, offer a discount coupon or a new customer offer, using timed offers.
- Providing consumers with pertinent information that nudges them into the contemplation phase. For example, provide information on free delivery or other payment choices, is known as conversion nudges.
- Back In stock notifications: consumers may sign up for “Back in Stock” notifications for goods that are out of stock or on backorder.
When discounts and free delivery are tied into minimum purchase restrictions, these techniques have the extra benefit of raising average basket size and order value.
Make Contact with Customers Who Are Leaving Before They Check Out
Finally if a client leaves your website during the awareness phase, re-engage, return, and recover them by sending them notifications to remind, re-engage, return, and recover.
The following are some helpful resources:
Real-time lead capture
Real-time lead capture is a technology that collects data entered on your website in real-time (for example, on your live-chat widget or contact page). Therefore aim to obtain the client’s email address early in the customer journey.
Browse abandonment emails/push/SMS
Similar to your cart-abandonment email templates, browse abandonment emails, push notifications, and SMS messages are more relevant and tailored to consumers’ departing during the awareness phase.
Manual outreach (through real-time alerts)
Real-time abandonment notifications allow you to receive emails with the contact information of known abandoners right away. This may be a wonderful tool for manually reaching out to high-value clients by phone or email if you have sales personnel.
You may also utilize these messages to upsell a range of items relevant to their browsing behavior, as these consumers haven’t yet committed to a product in their cart.
Using a Full-Funnel Strategy
Instead of focusing on just one part of the buyer experience, a full-funnel strategy to customer recovery emphasizes the need for working on the whole funnel in order to recover and convert as many consumers as possible. Even better, the aforementioned strategies can help you minimize total abandonment, boost average basket size, and strengthen your customer connection