By Mike Parsons
Running an e-commerce business is an incredibly versatile business opportunity, seeing as how you have so many choices to make and so many options to customize your organization. Unlike traditional businesses which are logistically bound by a certain pattern (no matter how loose this connection may be), as an e-commerce business, you will have a major organizational choice at every turn. These choices, however, aren’t just formalities, seeing as how each of them has a potential to completely revolutionize your business, even determine your success rate. With that in mind, here are five right choices for you to make in order to improve your e-commerce business.
1. Simplify your checkout process
The first thing you need to think about is the simplicity of your checkout process. This alone will make a huge difference in your sales, as well as help you capitalize on the concept known as impulse buying. In the era of mobile phones, this is especially true, due to the fact that your audience can purchase an item in a matter of seconds if they choose to do so. Another thing worth doing is starting a membership system based on subscriptions. In this way, you’re not just helping your audience but also automating your profit. For a new business, this can make all the difference in the world.
2. Don’t present your audience with too many different options
This particular opinion may seem as somewhat controversial, however, the number of options seriously affects one’s ability to make up their mind. One survey proved that the test participants who were presented with 6 different varieties of the same product were 10 times more likely to make up their mind than those who were presented with 24 varieties. Of course, adding items in a different price range is completely fine, especially since it helps your audience make a mental comparison of the product’s true value.
3. Looking for open source platforms
Another thing you might want to do is make your e-commerce website on an open source marketplace platform. First of all, open source usually comes with a better quality code, which makes your life significantly easier in the future. Second, due to the fact that it always comes with an active community and customer support, innovation is always rapidly implemented. This directly contributes to the stability and security of the platform. Most importantly, the aforementioned fact that the community is numerous and active can be taken as a plus on its own. Lastly, you get a much greater freedom, adaptability and scalability, each of which would be a good enough reason on its own to look for open source platforms.
4. Consider free advertising
One more thing you need to understand about the world of e-commerce is the fact that the average order has a low value of $28. This means that you might not be able to justify overspending on your digital marketing. Fortunately, there are so many free ways to promote your e-commerce platform and your brand, in general. One of these opportunities are platforms like YouTube and Pinterest, while there’s no reason for you to avoid major social networks like Facebook, Instagram and Twitter. Blogging may not be free but it’s definitely a low-cost form of making a name for yourself.
5. Data analytics and responsiveness
No matter how great your initial plan is, you need to embrace the fact that things change over the course of time. Top searched items and top-selling items will change with time, which is why you need to respond to this by adjusting your offer. In fact, even things like top searched keywords and the most lucrative demographic may change. By finding a way to address this in a timely manner, you’ll not only gain but also maintain your competitive edge over a longer period of time.
The best thing about these five tips is that all of them, in a way, reduce the overhead, the necessary maintenance and the overall effort one needs to invest to run their platform. Most importantly, all of these improvements give an immediate boost to your business, which means that you’ll be able to see the positive effects of your decisions right away.