There’s no doubt that the future is digital! While the high street will always play a part in the way in which our customers buy our products, only the most foolhardy of businesses will eschew ecommerce altogether.
Trading online offers a number of advantages that make it appealing for the nascent small business. It requires comparatively few overheads when compared to an increasingly and prohibitively expensive high street presence.
Moreover, it offers a far wider reach making a “blended” approach to retail increasingly attractive for brick and mortar retailers.
But while it’s easy to see the benefits of ecommerce, it’s not all plain sailing. Even with a great product and a whole lot of passion it’s easy to fall afoul in the increasingly cutthroat and competitive world of online retail. If you have a new ecommerce business, or are in the process of setting one up, be sure to steer clear of these commonly encountered pitfalls…
Using the wrong platform
It’s easy to assume that any ecommerce platform is the right one for you, but this is a dangerous fallacy that could seriously hamper your business.
What’s more, the right platform for you when you start up may not be the right platform for you a year or two down the line. Thus, it’s worth talking to a specialist about ecommerce migrations.
They can help you to identify which platform is best for your unique needs and help you with the logistics of migrating your inventory to a new platform quickly and efficiently. Signs that you may have outgrown your ecommerce platform include;
- You’re getting less and less value per transaction
- It doesn’t provide accurate or responsive reporting
- Customers comment that your website is frustrating or hard to use
- It struggles with third party integration, costing you sales and damaging your reputation
A wealth of competition
While the digital era has empowered and emboldened you to go into business for yourself, it’s also provided the same opportunities for your competitors. This wealth of competition can be problematic when you’re dealing with customers who know that they can afford to be fickle.
It’s essential to carry out competitor analysis regularly, ensuring that you are always aware of what they are doing and what they offer their customers. This will allow you to adapt quickly should they gain an edge over you and reclaim your market share by taking a closer look at what they do and finding a way to do it differently and better.
In an era where customers are growing increasingly fickle, how can you ensure that they keep coming back to you, when there are a plethora of similar websites from which they can buy?
The key lies in creating retention programs that build value for your customers and reward their loyalty in ways that are meaningful for them.
The more personal and specific you can make your rewards, the better. Show your customers that you value their business and are prepared to give them a little something extra to prove it and they will be far less likely to stray.
Steer clear of these perilous pitfalls and you have every chance of success in ecommerce.