Make Your Business Thrive in the E-Commerce Realm
In this digital age, it’s more important than ever to put your focus online. Much of the process consumers take when purchasing a product happens online, even if they don’t make the purchase online. Studies say that eighty-one percent of shoppers research their product online before purchasing it, you’ve heard that before right?
Even when they’re in a brick-and-mortar store standing in front of your product, potential customers pull out their phones to compare reviews, details, and pricing of your product with others before making a final decision to purchase.
Online sales in the U.S. are forecasted to reach $523 Billion by 2020 - up fifty-six percent from $335 Billion in 2015. 71% of shoppers believe they will get a better deal online than in stores. This means you need a strong e-commerce presence to give your business its best chance to thrive. Here's an infographic to illustrate this for you:
So how do people find your E-Commerce website?
43% of E-Commerce traffic comes from Google search, while twenty-six percent comes from Google Adwords. Having a strong marketing campaign is key to ensuring that you draw in and then retain as many customers as you can. Feature reviews in your SEO and make them prominent on your website. Seventy-five percent of reviews left on E-Commerce sites give the full 5 stars, so this will give you an edge over the competition.
Keep in mind that more than half of all customers want to receive personalized promotional offers - this will drive them to continue to invest in your products after becoming a customer.
But what if you have a strong E-Commerce site which is flawless across all devices, has great analytics results, a personalized remarketing campaign, and great product reviews displayed all around and you still can’t get customers to make the final purchase?
Well, you’re not alone: roughly sixty-eight percent of customers abandon their online shopping carts. Here are the top reasons why in order from most to least common:
Shipping costs made the total cost higher than expected
Not ready to purchase right now
Did not qualify for free shipping
Shipping costs only shown late in checkout
Site loads slowly
Did not want to register to purchase
Checkout was too long and confusing
They simply got distracted
What do you need to do to thrive in e-commerce?
Considering these results, the best way for you to engage and retain customers and help them to the final purchase of your products includes considering the following:
Ensure you are very upfront and clear about shipping costs, and how a customer can qualify for free shipping (before they get to the checkout).
Have your website built or optimized in a modern way so it will load as fast as possible; make it very engaging so you can avoid customer frustration and abandonment.
Finally, simplify and condense the checkout and offer the option for the customer to checkout as a guest.
If you need help with your E-Commerce presence, feel free to contact us. We understand that your time is valuable, and you may not have the time to dedicate to this on your own. Allow us to walk you through your best options and help to make your business thrive online!