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Ideas On How To Expand Your E-Commerce Business
How big is the global e-commerce sector? In a word – very! At the close of the current decade, e-commerce worldwide is expected to be a $27 trillion industry. More people are spending more money online than ever before. Which is, quite clearly, an incredible bonus for those running e-commerce businesses of all sizes.
But with such high competition, how can you make sure it’s your brand that gets ahead? Or for that matter, remains relevant long-term?
The answer…well, there are thousands of things any e-commerce business could do to improve performance. But if you’re looking to make a real difference from a 2020 perspective, the following enhancements are near-guaranteed to transform the way you do business:
Dynamic Shopping Experiences
First up, ‘dynamic’ in this instance refers to anything you can do to take the shopping experience to the next level. For some, it’s about offering interesting resources related to the store’s niche. Others create and publish tutorials, others focus on competitions and so on. Whatever you do, you need to go beyond the basics to provide modern audiences with a little more for their money.
Focus on Analytics
Every e-commerce operation these days is blessed with the ability to work with real-time analytics. Rather than waiting until the month’s or quarter’s end to see how your visitors behaved, you can watch what they’re doing right now. These are the kinds of direct insights that can tell you all you need to know about how to improve everything you do.
Better Support and Engagement
The days of getting away with unbreakable customer-business barriers are over. To succeed today, you need to make your audience feel as if you’re all part of the same community. Social media can help, but you also need to keep on-trend with preferred customer communication methods. A quick fact to drive home the point – research suggests that 85% of customers prefer live chat systems than other methods of communicating with businesses.
Customer Retention
For some, e-commerce is all about expanding as far and wide as possible, in order to maximise potential audiences. For others, it’s about cultivating committed audiences for the long term. No prizes for guessing which of the two approaches tends to yield better results. If you give your customers every reason to keep coming back, they will. If you focus all your efforts on new customers, what’s the benefit in loyalty?
User-generated Content
Last but not least, nothing adds a voice of authority to e-commerce websites these days quite like user-generated content. The idea being that instead of talking-up your products and services, impartial members of the public do so on your behalf. Reviews, recommendations, blog posts, comments, photographs and so on – anything that shows the real value of what you do for real people.