Up to 43% of shoppers use the internet to research products before making a purchase. As a business owner, this is an excellent opportunity to set up your online store for success. Taking advantage of the increased interest in online shopping can catalyze business growth.
This comes down to the products you sell and the experiences you offer shoppers. If you have an ecommerce store, this post will cover some tips to use to grow a successful business.
Pick the Right Products to Sell
Your success hinges on the type of products your sell to customers. As such, it’s wise to spend time researching multiple products and exploring your target market to identify the right products to sell.
Ideally, the right product should solve a customer’s pain point, appeal to hobbyists, and support personal preferences. Take the time to review trending products, fast-moving products, and their related or complementing products. This should guide your product selection.
Understand the Competition
When you pick a product to sell, evaluating its potential goes beyond its market viability. You also have to research your competition to understand their strengths, offers, market share, etc. This is an essential step to building your value proposition.
A simple Google search can give you insights into your competition. Simply search the products you intend to sell, and identify the top 10 or 20 stores in the results pages. Review the stores to understand their audience, target market, strategies, and other differentiating factors.
Deliver Unique Shopping Experiences
Nearly 80% of shoppers are likely to abandon your store if your overall experience is poor. For example, complex return processes or complicated checkouts can be frustrating to shoppers. You need to review your processes and platform to improve the experience for your customers.
Pay attention to every touchpoint to ensure customers can browse your products, search for products, leave reviews, contact support, etc. You should also reduce friction in the buying process by keeping the checkout steps as minimal as possible.
Support Multiple Payment Methods
How are your customers paying for their orders? Just because you prefer a specific payment method doesn’t mean it will work for everyone. You need a payment gateway that supports multiple payment options.
With customers using different payment services, it’s vital to accommodate them with multiple payment options for seamless purchases. Options like Stripe and PayPal let you accept most credit cards. You can also accept payment using Google Pay and Apple Pay. If needed, you can also support buy now, pay later (BNPL).
Grow Your eCommerce Store
Like any other business, running an ecommerce store requires a multi-faceted approach to support growth and ensure steady sales. You need to streamline every aspect of your operations and deliver experiences that capture customers.
eCommerce is growing daily, with the number of online shoppers increasing. It offers unique opportunities for business owners to connect with their target audiences and build their customer pool. Exploiting these opportunities requires a well-rounded operation that meets customers’ needs and embraces digital marketing.
