Over the last few months, the global marketplace has undergone a remarkable shift. This all has become possible because of the COVID-19 pandemic. Retail stores, shopping complex, business organizations, manufacturing units and industries are shut. People are advised to stay at home and complete lockdown is implemented by government authorities. However, Ecommerce business has helped people to buy daily products and meet the user needs. Many offline stores have shifted to online selling platforms. Several organizations are investing in Magento 2 Development Company to build online stores for business expansion. Online selling has no geographical borders or location, as well as is more creative with willingness to adapt to new technologies. In particular, business owners who are willing to launch an Ecommerce business will enjoy an enormous level of success.
Interesting Stats of the Ecommerce Industry
One of the best things about the Ecommerce industry is that there is no limit to strong and steady growth. In fact, the sales volume and user base have dramatically increased each year from the past decade.
• An incredible 70 percent of the Internet users have purchased online at least once, while 30 percent are regular buyers.
• Over 71 percent of the shoppers believe they’ll find cheap deals online, in comparison to shopping from offline stores.
• The average Gen X consumer spends 20 percent more online than a Gen Y shopper.
• The total number of online shoppers is expected to exceed 15 billion in 2020.
Tips to Run a Successful Ecommerce Business
If you own an offline store and have thought of launching an Ecommerce website or have an idea for a new business amid COVID-19 now is the time to act. The online selling will only continue to grow in the coming months and years.
Seeing the latest trends and buyer requirements it is quite difficult to build a store without hiring Magento developers and the tips mentioned below will help several small business owners to start online business in right direction.
1. Build Partnerships
It’s impossible that an Ecommerce website becomes a successful venture on its own. No matter how much experience you have, it is important to form strategic partnerships and aligning your brand with firms having influence. Look for the opportunities to find ways to help other brands whenever possible.
2. Drive Traffic with Engaging Landing Pages
To drive large amounts of organic traffic through search engines, it is important to have specific target audience, this will automatically boost your conversion rates. Regardless of whether you sell subscriptions, physical products, digital downloads, or something else, the best approach to drive website traffic is to engage users from social media to landing pages that further take them into the conversion funnel.
3. Eliminate Lengthy Checkout Process
Once a website visitor plans to buy something, they prefer websites offering easy steps to complete the purchase. Each step in the checkout process will increase the abandon chances of transaction. In fact, 35% of consumers said they skipped shopping during checkout because the process was complicated. With Magento Ecommerce this process can be eased. The key here is to get only desired information from the buyer like name, address and payment. That’s all you need to process a transaction. There’s no reason to ask for their middle name, or their favorite vacation spot.
4. Secure Payment Process
This is an important aspect of online selling with so many frauds reported on daily basis. Being a store owner it is completely your responsibility to implement latest security measures for buyers while making payments. Thus, it is important to include multiple payment options like cash on delivery, net banking, payment wallets, EMI options, and credit or debit cards. For customers it is crucial to have a simple and secure payment in their local currency. If you wish to run your business globally, then Magento 2 helps to integrate multiple currency options. Make sure checkout process is simple as mentioned above with guest user option as well.
5. Promote Your Online Store
Once your store becomes live, it is the perfect time to promote your online selling platform. Online promotion is an essential part of the Ecommerce app development life cycle. Rarely the visitors will come to know about your store. Thus, to generate sales and build user base, you have to reach your audience by marketing campaigns. The online promotion campaign needs to be highly effective and with full planning. Right strategy, at the right time will definitely drive potential users.
Frequently Asked Questions
1. Is Ecommerce a good business?
There are many great reasons to start an ecommerce business. If you’re interested in being your own boss and selling products you are passionate about, it’s something worth considering. If you want to speed up the process, you could even buy an established business instead.
2. Why is ecommerce so successful?
They relied heavily on search engine marketing. It’s popular because it delivers customers reliably, but there is a marginal cost associated with each new customer. That cost can grow at periods of peak demand.
3. What are the latest trends of Ecommerce business?
The latest trends of online business are:
• Artificial Intelligence
• Augmented Reality
• Virtual Reality
• Cloud Computing
Running a successful Ecommerce website is not an easy job to perform. Fortunately, you can perform multiple things to improve the chances of driving sales and keeping your customers coming back for more. Follow the above mentioned tips in a proper way or consult Magento 2 developer to get expert assistance in case of any trouble. This will help you to run your business for long term with desired success.