Recent research on eCommerce reveals that “By the year 2040, it’s estimated that 95% of all purchases will be through eCommerce.” Whether or not your eCommerce business will be able to take advantage of this enormous shift relies on what you do to keep it running at peak performance.
An effortless, ever-bearing, eCommerce operation is the goal. But how do you keep your eCommerce business in tip-top shape and turning a consistent profit over the years?
In this article, we’ll discuss nine ways to keep your eCommerce business running smoothly, grow your brand recognition, and ensure continual success in sales. Let’s get started.
Focus on the User Experience
One of the best things you can do to keep your eCommerce business running smoothly is to concentrate on your website's user experience. When visitors have an enjoyable experience on your website, they’re more likely to return to it for repeat purchases. Furthermore, repeat purchases and loyal customers are critical to the longevity of your eCommerce business.
You can improve the user experience on your eCommerce website by:
- Optimizing your site for mobile devices
- Simplifying navigation
- Offering various payment options
- Removing friction from the checkout process
- Making contact information visible
- Reducing page load times
- Updating your content monthly
- Ensuring inventory is accurately displayed
- Setting up redirects for 404 error pages
- Adhering to accessibility standards
Also, a massive part of a solid user experience is cybersecurity.
eCommerce websites are a goldmine for cyber thieves because of how much sensitive information is passed.
According to research on data breaches, “There are now more than 900 million different types of malware, created by cybercriminals and detected by cybersecurity professionals.” Their advanced strategies and tools make getting addresses, payment information, and other sensitive data online a breeze if websites aren’t adequately protected.
Cybersecurity is crucial to ensuring your eCommerce business continues to function well and convert.
Your web hosting service likely has built-in cybersecurity tools activated after buying your domain. Refer to this service to see what protection is in place for your visitors. If you need additional support, research tools you can implement. You may even want to hire a cybersecurity professional.
Leveraging data can also help keep your eCommerce business running smoothly.
One of the most compelling statistics on eCommerce is “The four most effective approaches to increasing conversion rates are digital analytics, A/B testing (comparing the performance of two different versions of a webpage or site), user-experience design and focusing on copywriting, according to one 2020 survey.”
The first of the four, analytics, is incredibly influential in keeping your eCommerce business seamless. Knowing what you want to improve, what data to collect to make informed business decisions, and which metrics to pay attention to can help your business evolve.
Monitor the following metrics and conduct an in-depth analysis on each regularly to ensure your e-commerce business remains successful:
- Consumer satisfaction score
- Shopper churn rate
- Revenue per visitor
- First contact resolution
- Customer lifetime value
- Resolution rate
- Bounce rate
- Retention rate
- Net promoter score
Continuously studying your target audience also contributes to a seamless eCommerce operation.
Continuously Study Your Target Audience
Your target audience's needs, desires, and behaviors will change over time. That’s why it’s vital to continuously study your target audience so that you can adjust your eCommerce business to remain relevant and valuable to them over time.
Check on your target audience monthly to monitor significant changes. Keep up on the following:
- Their buyer’s journey
- Demographic information changes
- Online buying patterns and behaviors
- How they’re absorbing eCommerce content
- How they perceive eCommerce businesses
- How they navigate and interact with eCommerce sites
- Their favorite types of content and communication channels
In addition to continuously studying your target audience, you should also learn from your competition.
Image Source: Pixabay
Learn From Your Competition
Learning from the competition is one of the secrets to a smooth eCommerce operation. By mirroring what’s successful in your competitors’ businesses and perfecting what they aren’t doing well, you can stay relevant in the industry and top of mind with customers.
Through data analytics tools and manual research, study the following about your competition:
- Their marketing activities
- The specifics of their target audience
- How they’re handling workflow automation
- Their customer service processes
- Their approach to sales
- The site structure and navigation on their website
- What kind of eCommerce content their producing
Another way to ensure your eCommerce business remains in good shape is to pay attention to how the market evolves.
Pay Attention to How the Market Evolves
Paying close attention to the market and how it evolves is essential to keeping your eCommerce business running smoothly. As the market changes, so should your eCommerce business.
So, be sure to monitor:
- How the market size fluctuates
- Who the eCommerce giants are
- Revenue share statistics
- Notable industry benchmarks
- Growth opportunities
- Future trends
- Who the main buyers are in the eCommerce market
- What those buyers are doing and how to reach them
Next, be sure to keep your business finances clean.
Keep Business Finances Clean
Don’t be the eCommerce business that looks good on the outside but is really unorganized on the inside. Instead, keep your finances and other behind-the-scenes parts of your business clean, organized, and straightforward.
Hire an accountant or bookkeeper if you need to. Just ensure your finances are healthy, investment opportunities are on the horizon, you’re making strategic budget decisions, and allocating resources effectively. You also want to use specific tools to organize, maintain, and make all of your financial and business documents accessible.
Another way to keep your eCommerce business running smoothly is to diversify your marketing efforts.
Image Source: Pixabay
Diversify Your Marketing Efforts
A considerable part of a successful eCommerce business is how it’s marketed. The better your digital marketing efforts, the more likely you will consistently drive traffic to your site, increase brand awareness, and generate revenue.
Diversifying your marketing efforts is key. You can do so by:
- Experimenting with various marketing channels
- Choosing marketing types that will lead to conversions
- A/B testing marketing messaging
- Creating different types of content
- Partnering with other eCommerce brands
- Utilizing paid advertising
- Optimizing your site for SEO
- Leveraging cross-promotion
Lastly, raise the customer service bar all the time to keep your eCommerce operation running smoothly.
Raise Your Customer Service Bar
Customer service is vital in any eCommerce business, especially one that wants to last. All it takes is one terrible customer service interaction to turn customers off and make it, so they never come back to your business. So, make it a point to raise the bar when it comes to customer service continually.
Whether it’s expanding your customer service team, implementing chatbots on your website, or streamlining your customer service workflow with various tools, be sure that your customer service process is as pleasant and straightforward as possible.
Don’t take running an eCommerce business lightly. There’s nothing easy about pursuing a top spot in the eCommerce industry. But if you implement some of what you learned above, you can ensure your eCommerce business runs smoothly and better its chance of having a long, profitable future.