Online businesses have high potential for both massive revenue and healthy profit margins. Today’s society makes growing a successful online business not only realistic, but accessible. Even though the eCommerce economy is poised for continued growth, starting and maintaining an online business is a lot harder than it looks. We’ve laid out the most fundamental aspects of a successful eCommerce business. If you’re overwhelmed, start here.
Treat your E-Commerce Business as a Real, Offline Business.
No, your eCommerce business isn’t a hobby, nor is it something to do in your spare time. Take it seriously! Your store is a real business.
When you’re not automatically making millions off of your business, it’s easy to get into this mindset, but treating it lightly won’t ever get you there. If you seriously have the desire to run a successful eCommerce company, you need to start acting like it. Don’t wait around for your business to grow itself – make it happen. Dedicate your time and treat your eCommerce business as if it’s a real, offline business.
The Check-Out Process
Many business owners don’t understand that the customer’s check-out process is just as important as their first impressions. Having an easy, flexible payment process is a key component in whether or not your online business will be a success. The biggest concerns customers have when shopping online revolve around how they’re going to pay and how safe they feel entering in their information on your site. Having the right payment processing system takes care of both concerns. Choose a system that has a wide variety of payment options, without making it complicated! You still want your customers to have a simple, stress-free experience when they go to pay. The right system will also have data protection technology built in to not only keep payments and customer information safe, but your bottom line as well. Having a secure system with flexible payment choices gives customers the freedom and safety they’re looking for. Find the right software for your business and you’ll already be one step ahead of competitors.
Don’t Rush the Launch
Once your heart is set on starting your own online business, the excitement floods in. We understand that you want the news out as soon as possible, however, patience is a virtue. One of the biggest mistakes unsuccessful entrepreneurs make is rushing the launch of their site. You only have one shot to launch your website. Make it count. Make sure you have your bases covered before the big reveal – social media sites, SEO, content marketing, paid advertisements, etc. Waiting to launch your site until you’re fully functional and prepared will not only attract more customers, but will create a much bigger impact.
Top Notch Customer Service
We all have fallen victim to a bad customer service experience at one time or another. Online businesses are especially linked to having unimpressive customer service. Take that into account when looking at your business! No one likes being ignored. When a customer emails your company, reply. Even when someone complains in an email, reply. You’d be surprised at how much a simple acknowledgement can change someone’s perception of your business. Use different channels to interact with your customers – email, social media, phone support, live chat, etc. Not all are necessary when just starting up an eCommerce business, but it’s important to stay on top of the ones that you do use! Take advantage of all your different channels and deliver a great customer service experience to your customers. Remember, with each customer your goal is to not only get them coming back as a repeat buyer, but to get them sharing their good experiences to others!
Don’t Expect Overnight Success
Remember, realism is important. Sure, there are those who get lucky, but 99.9% of success stories worked as hard as they could to get there. Don’t give up too quickly. So many young entrepreneurs feel defeated after a few months of work and their site isn’t making them millions. If you have a great product and a true passion, it’s worth sticking it out. It’s important to understand that starting any business isn’t easy, especially one on the Internet. Stay dedicated, stay passionate, and your hard work will pay off.