Like everything else these days, business has also gone online. The traditional ways of doing business are slowly losing their charm and the next generation of aspiring entrepreneurs are jumping on the new wave of online business – because if done correctly, adding an ‘e’ to your commerce can take your business to a whole new level. Not just with entrepreneurs, the new way of doing business is also leaving its mark on consumers. According to a UPS study, 70% of users said they prefer their favorite retailer online.
Taking your business online though, is trickier than you’ve imagined. It takes time, patience, and durability to pass through hurdles and run a successful e-commerce. If you’ve decided you want to leave your mark in this burgeoning digital economy and are resolute in your desire, then these 10 basic do’s and don’ts can help you a great deal.
1. Do give your time to make your site look good
The number of entrepreneurs testing their luck in the digital world is too damn high, and giving your business a pleasing professional look is a must if you want to stand out among the myriad of players who are playing the same game. In an ideal world, the content should matter more than cover, but when the competition is too high, little things decide the tie and the design of your site is one of these small things. There are many guides on the internet, which can help you with the design of your site. Website builders are great tools to help you with designing by reviewing your competitors.
2. Don’t just assume people will find your site
The concept of doing good things and selling unique products, and people will find your business, might work in a Disney World utopia, but unfortunately, it does not work in the real world anymore. The internet is simply too big for a random viewer to stumble upon your site. You should work on planning ways to get more direct traffic. Social media reach can aid your business a great deal in terms of publicity. Good SEO also helps public reaching via search engines.
3. Do work on building a concrete platform
It’s obvious that you learn the details of the art through experience, but you cannot always cross the bridge once you reach the river. Having the correct features planned and doing risk analysis always helps. It’s tempting to be courageous and just go out on the battlefield, but you have to make sure you have readied your weapons and prepared a decent backup plan. Some mistakes are costly to fix so make sure you do the best you can to prevent them from happening. You have to take care of technical issues like finding the right hosting solution, managing the scalability of your website, and security along with other non-technical issues such as scalability of business, customer support, and market penetration right from the beginning.
4. Don’t waste your time trying to sustain the company single-handedly
You are the founder, marketer, and leader of your business. So basically, you are a one-man band. But if you’re spending your entire day trying to bring everything into balance, then note that this is an idea that’s not worth pursuing. If you want to launch a successful e-commerce business, then you should be able to do the main work in the least time possible so you can focus on other aspects like growing and scaling your business.
5. Do set a budget aside for tests and trials
The hardest thing for an entrepreneur to do is admit that their product is really not that great. Though you might passionately like the idea you’ve created, there is no guarantee that it will work. If you wait months or even years to find out the actual performance of your product, it might just be too late. Conduct surveys or try selling samples of your product before spending your time, energy, and money on launching your company online. Even if your product has legs, you should always test and refine first.
6. Don’t put features above strategy
It’s easy to be quickly overwhelmed with your efforts. It’s good if people of certain demographics are giving you good reviews, but you can always paint a bigger picture. There are always voids in the market which need filling and always room to innovate something new. If a month has passed and you are still trying to refine negligible design elements, then you are stuck in the vicious loop of feature-bias. Focus on more important aspects, the ones that actually increase the output, not just the appeal.
7. Do listen to your customers
People are entitled to their opinions, and they are opinionated. So you’ll receive all kinds of comments about your business. Yeah, reacting on every single one of them is nothing more than a waste of time, but you should definitely acknowledge their opinions. Your customers help you point out frailties that you otherwise would have ignored. Evaluate their suggestions and work for a remedy. If you listen to your customers, it also develops a bond of loyalty and trust.
8. Don’t inaccurately measure your success
E-commerce is not rocket science. It’s seasonal. It has its carnival and its droughts. Comparing your July traffic to your June data does not give a clear picture of your progress. You should set aside a statistically accurate interval and compare your metrics. Compare July to July, winter to winter, or year to year if you want an accurate report of your progress.
9. Do your best to efficiently manage email lists
If you have done your homework and designed a fantastic site, then growing your email list as soon as you launch an e-commerce is a must. It’s one of the best ways to boost traffic later on. Add email lists as a key-performance indicator when you’re measuring success. If you ignore this part, you might find yourself sunk in a rabbit hole trying to pay your way out through advertising, sponsored content, and other paid outlets.
10. Don’t give up quickly
It’s easy for entrepreneurs to get frustrated if their idea does not work, but many of them fail to realize that it often takes time and patience to thoroughly test out an idea, and success does not come overnight. If you truly believe you have a million-dollar idea, then you should be willing to risk anything for it. You should not hastily desert a project because it’s not working well for the time being, because it just takes relentless hard work and there is always a silver lining. Who knows – you might even get lucky!
In conclusion, e-commerce business can significantly boost your sales if done correctly. It takes careful planning and execution to run a successful online store. Pay attention to the design of your site, work on planning ways for direct traffic, build a concrete platform, manage email lists efficiently, and listen to your customers. Don’t fret over small details and avoid putting features above strategy. Don’t expect instant success and hold on to your idea. With these tips, you can navigate the turbulent waters of e-commerce and emerge with a successful online business.
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