There are certain elements that every e-commerce company must have in order to remain relevant and competitive. Today, consumers can shop for almost anything they need with just a few clicks from their smartphone, and they have more choices at their fingertips at any given time than ever before. Research shows that between 80% and 97% of eCommerce businesses fail, and the main cause is the amount of competition.
Successful companies all have a few things in common. Let's take a look at the most important components that make eCommerce businesses stand out from the competition.
Think of your e-commerce website as if out of your physical location and design with the same customer experience in mind. Visiting your site should be just that, an experience, not a transaction. According to a recent study, 38% of people will leave a website if the content or design is not attractive and easy to navigate. That's a staggering number of shoppers who will leave your site before they start buying, simply based on viewing experience. Every facet of design is crucial, from your homepage to checkout.
Incorporating color psychology, top-notch copywriting, high-quality images, and an easy-to-navigate layout will go a long way to ensuring your site visitors stay long enough to make a purchase . Even if a visitor doesn't make a purchase, the experience needs to be enjoyable and memorable for them to return in the future.
In an age where physical and in-person contact is not only limited, but often prohibited, it's more important than ever that you communicate with your customers, prospects, and the general public, humanizing your brand . Your communication strategy can make or break your business, it's that important. Social media is the way the world communicates today, and your brand is no exception. Take the time to create empathy-based content that evokes emotion, entertains, and educates.
Although social media is the platform of choice for many people, other channels such as email, text, blogging, and video content remain just as important. Be aware of how and when you use each channel. Think about how you would like to receive news from brands and keep that in mind when implementing your communication strategy. If you wouldn't send the offer or message to a friend, think twice before sending it to your customers.
With online sales on the rise, competition is fiercer than ever. It is imperative to have a high-quality, in-demand product that truly sets you apart from your competitors. Differentiation is key. And it's more important than ever to show potential customers why your product is the best on the market.
Customer loyalty is just as important as attracting new customers to your site. And having a quality product that delivers on its promises is key to your success.
Customer experience is a fundamental aspect of companies today. Public reviews are just a click or two away, leaving businesses vulnerable when disgruntled customers take to the web to share their experience. The same goes for positive experiences, as many consumers today make purchasing decisions based on customer reviews. Amazon is a great example of how to create a Customer-centric digital experience, with your fast shipping through a prime membership, easy returns, and customer service at your fingertips. Your customer experience is one of your most valuable marketing tools, and that experience must be optimized at every stage of the buying process.
By implementing a customer-centric experience and focusing on the above components of your shoppers' experience, you can set your eCommerce business up for success and stand out from your big competitors.