Regardless of the potential it has, the rapidly-growing ecommerce market is not quite easy to conquer. In 2016, 53% of all internet users had made at least one online purchase, according to the US Government – as number of those who prefer this shopping route instead of the traditional brick-and-mortar stores continually increases, more aspiring entrepreneurs choose to sell their goods in the online environment. In most ecommerce niches, the competition is already fierce; in 2017, some of them will be almost impossible to enter.
But such talk is for the fainthearted. Regardless of how challenging, the ecommerce market will always welcome those ambitious enough to make smart, calculated moves and offer original and exciting customer experience. When armed with a USP that the audience finds irresistible, even the least experienced of ecommerce rookies can stand out from the crowd, find their place and succeed.
Here’s what strategies they need and how to make sure they are infallible.
- Build Trust, and They Will Come
If your online store is already up and running, the chances are good that you’ve already experienced the ultimate ecommerce nightmare – an abandoned cart. Though this may be a signal that it’s time for some radical changes, it may simply mean that your brand still hasn’t earned the audience’s trust. Like in any other business, credibility comes with time, but what should you do when you don’t have a lot of it?
A study from Actual Insights have a quick solution to your problem! According to results, over 75% of online shoppers eventually abandon their carts simply because the ecommerce store is not branded with a trust seal! Be that a badge or a logo, customers actually perceive them as a decisive factor while choosing whether to make a purchase or not, so be sure to obtain one.
- Make Paying Convenient and Reliable
Choosing the most suitable payment system is vital for so many reasons. Not only can additional fees and conversion rates cost you a lot of your hard-earned money, but the wrong payment option can actually drive many of your prospects away. Customers prefer to be in complete control of their payment process, which is only natural. Allow them to choose for themselves!
Though different payment systems have their own advantages, try to include as many of them as possible. Most common among niche leaders, a combination of credit card processing and online payment systems perform the best, so make sure to check https://www.crowdreviews.com/best-credit-card-processing-companies for most reliable credit card processing companies and to include PayPal on your store as well.
- Master Customer Lifecycle, Provide Lifetime Value
So much has been said about modern marketing strategies in the last couple of years, but when it comes to ecommerce, it’s actually retargeting that mostly seals the deal. While the first will only get your store filled with excited prospects, of which over 50% will leave within the first minute or so, retargeting strategies will give them an engaging reason to return and stick for a little while longer, until eventually, they convert.
Even then, your ecommerce business wouldn’t be able to grow if your conversion rates don’t match the number of your returnees. Just like outreach and retargeting, lead and customer nurturing plays a crucial role in the marketing lifecycle, so be sure not to leave them out.
Blast them will irresistible email offers, offer fresh discounts on a regular basis and have them custom-tailored to your long-term customers’ needs, preferences and pain points. Whatever you do, focus your customer experience on providing lifetime value for your clientele, and they will have no reason to look for it elsewhere.
- Embrace Reviews, Positive and Negative Alike
Never fear customer reviews, even if they aren’t positive. Transparency is one of the best ways to secure trust, so let both good and bad feedback stay apparent on your ecommerce site. Instead of making things worse, negative reviews will actually add social proof and credibility to your brand, not to mention that they give you the opportunity to learn from your mistakes, improve and progress.
Always contact your unsatisfied customers for additional feedback! Ask them what went wrong and what can you do to make things better and offer a special deal to compensate for their unpleasant experience. That way, your professional renown will not be placed in jeopardy and you’ll gain valuable insight that you can use for further improvement.
Just like any other business, or even more so, ecommerce is all about happy customers. In order to grow, you’ll need them to purchase from you on a regular bases, so be sure to be the most delightful, original, attentive and convenient shopping companion there is.
Hear them out, value their opinions and act on them; go the extra mile to remind them that you’re there whenever they need you and that you offer the easiest and most secure transaction route. That’s the most certain way of acquiring their trust, and most importantly, their loyalty.