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How to Succeed in Ecommerce in 2019
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Surviving as an ecommerce business in 2019 isn’t easy. In fact, underestimating the complexity of running a successful ecommerce business represents the number-one downfall for thousands of would-be entrepreneurs.
The sheer scale of the competition faced by every ecommerce business poses the ultimate challenge to overcome. Not to mention, the fact that more consumers than ever before are focusing on the overall ‘experience’, rather than convenience and low prices alone.
Still, with a recent study having found that at least 100,000 ecommerce businesses are generating significant revenues worldwide, it’s a niche in which there’s money to be made.
The question being – what can you do to ensure your ecommerce business remains competitive in 2018?
As far as the experts are concerned, the key to success lies in four essential areas:
1. Focus on the basics
The first of which being the importance of getting the basics right. There are essentially five things you need to do to run a successful ecommerce business – attract customers in the first place, deliver a memorable first impression, give them what they need as quickly as possible, nurture loyalty at all times and never stop learning from your customers. It’s far too easy to get bogged-down with the complexities of ecommerce and completely lose sight of the most important fundamentals.
2. Get to know your customers
The key to successfully engaging and retaining customers lies in getting to know them at a deeper level. You could argue that identifying demand for a certain product or service is sufficient to drive successful ecommerce operations. But why not dig a little deeper to identify why there is demand for this product or service? Why are other demographics less interested in what you do? What could you do to further improve the product or service? Why are they choosing you over the competition? The deeper your understanding of your customers, the easier it becomes to consistently win them over.
3. Go beyond simple transactions
Always remember that online shoppers these days can get anything they want from about a thousand competing retailers for a very similar price. If you want to both attract them in the first place and retain them, you need to offer them something they cannot find elsewhere. Useful information, regular news updates, tutorials, blog posts, special offers, loyalty schemes and so on – anything that takes things beyond simple transactions. Try to avoid setting yourself up and operating like an online vending machine.
4. Deliver a seamless experience
Last but not least, you only need to take a look at the web’s most successful online retail portals to understand what a seamless experience is all about. Amazon being a prime example – a brilliant user interface, tons of information presented in a concise manner, instant access to related products, customer reviews displayed clearly, fast-page loading times and so on. Once again, it’s a case of ensuring that whatever it is you do, you do it better than the competition.