With the rise of eCommerce, sellers now have even more opportunities to thrive and succeed online. On the other hand, increased demand brings additional issues, questions, and concerns.
It’s time to dispel some ecommerce myths preventing your company from growing, impacting your ecommerce ranking, and reaching its full potential. We address the most popular eCommerce fallacies or just plain ecommerce myths. This post examines what it takes to run a successful online store.
The Top 9 eCommerce Myths
These are the top eCommerce myths that are hurting your company. Be aware of these, but take these misconceptions and cast them aside immediately.
Myth 1 – On the net, there is wastefully competition
As eCommerce sales develop, we will see more people shopping online. While the eCommerce industry is competitive, businesses still need to stand out and reach out to new customers. Some say that there is too much competition online.
Yet, eCommerce success can be accomplished in the long term through strategy. In other words, agility, planning, and resilience, all even in vastly competitive businesses.
However, this myth is false because while the e-commerce industry is competitive, new businesses still have room to succeed. With the right strategy and execution, you can differentiate your business from the competition and attract customers.
Here are some tips for competing in the e-commerce market:
- Find a niche: Don’t try to compete with the big e-commerce giants head-on. Instead, find a niche market that you can serve well. This could be a specific product category, customer segment, or geographic location.
- Offer excellent customer service: One of the best ways to compete online is to offer excellent customer service. This means responding to customer inquiries, resolving problems quickly and fairly, and making customers happy.
- Build a strong brand: Your brand sets you apart from your competitors. Ensure your brand is consistent across all your marketing materials and website.
- Invest in marketing: Don’t expect your customers to find you alone. You need to invest in marketing to drive traffic to your website and promote your products. You can use various marketing strategies, such as paid advertising, search engine optimization (SEO), and social media marketing.
Following these tips, you can compete effectively in the e-commerce market and build a successful online business.
Myth 2 – eCommerce sites must be free or inexpensive
This myth is false because while creating a primary e-commerce site for free or inexpensively is possible, several costs are associated with running an e-commerce business, such as web hosting, domain registration, payment processing fees, and marketing costs.
In other words, a physical online storefront requires investment to generate attention, grow sales, and see returns. However, unlike a physical business, your online storefront can reach many clients.
More so, this can be regardless of their location. Your online store is a beautiful investment area to expand your reach and develop your business. That is because it has almost infinite growth potential. Remember, you need to keep your site fresh by reinvesting and website updating.
Additionally, if you want your e-commerce site to succeed, you must invest in high-quality design and development. A well-designed e-commerce site will be easy to use and navigate and make a good impression on potential customers.
Here is a breakdown of some of the costs associated with running an e-commerce business:
- Web hosting: Web hosting is the service that stores your website’s files and makes them accessible to visitors. The cost of web hosting varies depending on the level of service you need.
- Domain registration: Your domain name is your website’s online address. The cost of domain registration varies depending on the domain extension you choose.
- Payment processing fees: Payment processing fees are paid to credit card companies and other payment processors when customers make purchases on your website. The cost of payment processing fees varies depending on the payment processor you use.
- Marketing costs are associated with promoting your e-commerce site and products. You can use various marketing strategies, such as paid advertising, search engine optimization (SEO), and social media marketing. The cost of marketing varies depending on the method you choose.
While the upfront costs of starting an e-commerce business can be significant, there is a lot of potential for profit. With the right strategy and execution, you can build a successful e-commerce business and generate a considerable income.
Myth 3 – My consumers refuse to shop online
This myth is false because if the digital transformation of 2020 has taught us anything, customers can 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.
You’ll lose otherwise eager consumers if you don’t give comfort, advice, convenience, inventory visibility, customization choices, security, and personalization during the buying process.
There are several reasons why customers choose to shop online:
- Convenience: Online shopping is convenient and easy. Customers can shop from home 24 hours a day, seven days a week.
- Selection: Online retailers often have a more comprehensive selection of products than brick-and-mortar stores.
- Prices: Online retailers often have lower fees than brick-and-mortar stores. This is because they have lower overhead costs.
- Reviews: Online shoppers can read reviews of products before they buy them. This helps them to make informed purchase decisions.
You are missing out on a growing market without selling online. Even if you have a brick-and-mortar store, you should consider selling online. This will allow you to reach a wider audience and increase your sales.
Here are some tips for selling online:
- Create a user-friendly website: Your website should be easy to navigate and use. Customers should be able to find the products they are looking for quickly and easily.
- Offer excellent customer service: Make sure you are responsive to customer inquiries and resolve problems quickly and fairly.
- Invest in marketing: Promote your website and products through paid advertising, search engine optimization (SEO), and social media marketing.
By following these tips, you can start selling online and reach a wider audience of potential customers.
Myth 4 – It’s not a prerequisite to improve my website.
This myth is false because improving your website is essential for success in the e-commerce industry. Moreover, you can’t simply build and forget about a website in eCommerce. A good website serves as a basis, but there are always things you can do to enhance, grow, and optimize it. It would help if you kept up with industry trends. Also, keep an eye on your consumers’ behavior and motives and understand what works and doesn’t for your company. Doing nothing with your website might be disastrous for your business.
A well-designed and optimized website will help you to attract visitors, convert visitors into customers, and increase your sales.
Here are some of the benefits of improving your website:
- Increased traffic: A well-designed website is more likely to rank higher in search engine results pages (SERPs). This means that more people will see your website when they search for products or services related to your business.
- Improved conversion rates: A well-designed website is more likely to convert visitors into customers. This is because it will be easy to use and navigate and make a good impression on potential customers.
- Increased sales: By increasing traffic and conversion rates, improving your website can increase sales.
There are several things you can do to improve your website, such as:
- Improve the design: Your website should be visually appealing and easy to navigate.
- Optimize your website for SEO: Make sure your website is optimized for the keywords your target audience is searching for.
- Create high-quality content: Your website should contain high-quality content that is informative and engaging.
- Make it easy for customers to buy: Your website should make it easy for customers to find the products they are looking for and complete their purchases.
You can position yourself for success in the e-commerce industry by improving your website.
Here are some additional tips for improving your website:
- Use a responsive design: Your website should look good and function well on all devices, including smartphones and tablets.
- Use high-quality images and videos: Images and videos can make your website more visually appealing and engaging.
- Make sure your website is mobile-friendly: More and more people are using their smartphones and tablets to access the Internet, so it’s essential to make sure your website looks good and functions well on all devices.
- Test your website regularly: Make sure it works correctly and is easy for customers to use.
- Get feedback from customers: Ask your customers for feedback on your website and use that feedback to improve it.
You can create a visually appealing and user-friendly website by following these tips. This will help you to attract visitors, convert visitors into customers, and increase your sales.
Myth 5 – I’m already earning sales. Therefore, there’s no need for me to make any changes.
This myth is false because the e-commerce industry is constantly changing and evolving. To stay ahead of the competition, continually improving your website and business practices is essential. Therefore, modifying your business to remain competitive repeatedly would be best. This is because 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. Product merchandising, site design, checkout procedure, promotional efforts, and overall brand experience may be differentiated from the competition via innovation.
Here are some of the reasons why you should continue to make changes to your e-commerce business, even if you’re already earning sales:
- To improve your customer experience: Customers constantly look for new and better online shopping methods. By making changes to your website and your business practices, you can improve your customer experience and make it easier for your customers to do business with you.
- To stay ahead of the competition: The e-commerce industry constantly evolves. New competitors are always emerging, and existing competitors continually improve their businesses. To stay ahead of the competition, you must continuously improve your business.
- To increase your sales: You can increase your sales by improving your customer experience and staying ahead of the competition. Even if you’re already earning sales, there’s always room for improvement.
Here are some specific changes you can make to your e-commerce business:
- Improve your website: Your website is the storefront of your e-commerce business. Make sure it’s well-designed, easy to navigate, and mobile-friendly.
- Optimize your website for search engines: Make sure your website is optimized for the keywords your target audience is searching for. This will help you to attract more visitors to your website.
- Offer excellent customer service: Make sure you’re responsive to customer inquiries and resolve problems quickly and fairly.
- Invest in marketing: Promote your website and products through paid advertising, search engine optimization (SEO), and social media marketing.
- Expand your product selection: Offer your customers a more comprehensive selection of products. This will help you to attract more customers and increase your sales.
- Enter new markets: Sell your products in new markets, such as international markets or new online marketplaces. This will help you to reach a wider audience and increase your sales.
Changing your e-commerce business can improve your customer experience, stay ahead of the competition, and increase sales.
Myth 6 – The only thing that matters to customers is the price
This myth is false because price is not the only thing that matters to customers. Also, although 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; some even consider the company’s social responsibility and community participation.
As such, other factors that matter to customers include:
- Quality: Customers want to buy high-quality products. Even if a product is priced low, customers will not accept it if it is of poor quality.
- Brand: Customers tend to prefer products from brands that they trust.
- Convenience: Customers want to buy products that are convenient to purchase and use.
- Customer service: Customers want to feel valued and appreciated. They want to be able to get help when they need it.
While price is an essential factor for customers, it is not the only factor. Customers are willing to pay more for high-quality products, trusted brands, convenient products, and good customer service.
Therefore, consider differentiating your company by building trust, establishing authority, and providing perks such as superior customer service. Additionally, it offers unique product options and convenience of purchasing.
Here are some tips for competing on price without sacrificing quality or customer service:
- Offer a variety of price points: Offer a variety of prices so that customers can choose the products that fit their budget.
- Focus on value: Make sure your products are suitable for the money. This means offering high-quality products at a competitive price.
- Offer discounts and promotions: Offer discounts and promotions to make your products more affordable.
- Provide excellent customer service: Provide excellent customer service to make your customers feel valued and appreciated.
Following these tips, you can compete on price without sacrificing quality or customer service.
Myth 7 – If my items are good enough, they will sell themselves
This myth is false because even the best products must be marketed to succeed. You can use various marketing strategies, such as paid advertising, search engine optimization (SEO), and social media marketing, to reach your target audience and drive traffic to your website.
For example, you can use Google Ads to target people searching for keywords related to your products. You can also optimize your website for SEO to rank higher in search results for relevant keywords. Additionally, you can use social media platforms like Facebook and Twitter to connect with potential customers and promote your products.
So, while your items may be one-of-a-kind, they won’t stand out online unless you have the proper channels to acquire and keep consumers. You’ll need to use marketing strategies such as paid advertisements, search, email, content, and social marketing to boost demand for your business, attract visitors, and nurture consumers into becoming repeat customers.
You must carefully place items in your message to differentiate yourself from your rivals. You can also use merchandising techniques and express your distinct value regularly.
Myth 8 – Selling through other channels is too much work
This myth is also false because there are several ways to sell through other channels without doing a lot of extra work. For example, you can use a fulfillment service like Amazon FBA to handle the shipping and fulfillment of your orders.
There are benefits of selling through other channels. Selling through other channels can help you reach a wider audience and increase sales. It can also help you to save time and money on shipping and fulfillment.
Still, many firms are altering their sales methods in the present commercial landscape to seek new media and generate more money. Product-makers whose closed stores sell directly to consumers, while offline B2B enterprises are digitizing their operations to attract modern buyers.
Thanks to the evolution of online selling solutions to suit these developments, growing into new channels and markets is simpler than ever. For instance, you can use Amazon’s existing market dominance and, with the help of a virtual assistant, expand into an Amazon FBA business.
Myth 9 – My website will never be able to compete in the marketplace
This myth is false because there are several things you can do to make your website competitive, such as offering excellent customer service, unique products, and competitive prices.
There are benefits of having your website. Having your website gives you more control over your brand and your customer experience. It also allows you to collect valuable customer data and track sales and marketing performance.
Yet, 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 solid independent web presence gives you more influence over your company’s performance.
However, there are many things you can do that Amazon cannot provide a brilliant and unforgettable experience that keeps customers coming back.
Let’s say you sell handmade jewelry. You could sell your jewelry on your website, but you could also sell it on other channels, such as Etsy or Amazon Handmade. This would allow you to reach a wider audience of potential customers.
You could use a fulfillment service like Amazon FBA to handle the shipping and fulfillment of your orders. This would save you time and money and ensure your customers receive their orders quickly and efficiently.
You could still maintain your website even though you would sell your jewelry on other channels. This would allow you to collect valuable customer data and track your sales and marketing performance. Additionally, you could use your website to promote your unique brand and customer experience.
By selling through other channels and having your website, you can position yourself for success in the ever-changing ecommerce landscape.
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. Instead, focus on ecommerce best practices and your ecommerce SEO. Now that you’ve debunked some of those myths examine where you’re encountering unnecessary roadblocks to your progress.
Also, this is where you could be losing out on essential possibilities. We’ve been assisting businesses since 2014 in identifying and overcoming the myths and misunderstandings impeding their development and success. Book a free consultation if something is preventing your online company from 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 thwart 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 capturing the email address of someone 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 with 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 on your websites after a set time. For instance, offer a discount coupon or a new customer offer using timed bids.
- It provides consumers with pertinent information that nudges them into the contemplation phase. For example, providing 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.
Please 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 them, re-engage, and recover.
The following are some helpful resources:
Real-time lead capture
Real-time lead capture is a technology that collects real-time data entered on your website (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.
Like 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 an excellent tool for manually contacting 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 for customer recovery emphasizes working on the whole funnel to recover and convert as many consumers as possible.
The strategies above can help you minimize total abandonment, boost average basket size, and strengthen your customer connection.