Ecommerce has been something of a blessing to the retail world, at least in terms of the barrier to entry. It’s true that the industry is dominated by giants such as Amazon, eBay and Groupon, but the space is wide open. Many entrepreneurs have turned to online shopping as a means of implementing an otherwise lofty startup idea.
The ease by which owners can receive orders, ship goods and accept payment makes for a particularly attractive prospect, especially when compared to the logistical nightmare of establishing a brick-and-mortar shop. Of course, ecommerce startups need a considerable share of business working capital, but the initial investment is often much less than that expected for storefronts.
Also, the relative ease of setting up a retail website – whether through services such as Etsy or an independent host – does not come easily. You may have an astounding volume of traffic with the best search rankings and social marketing support – if you can’t turn that traffic into sales then what are you doing? Here are some tips to help you turn a popular website into a fountain of revenue.
Don’t beat around the bush
When you set a price for an item, stick to it. Don’t impose hidden fees or checkout charges (shipping and handling is expected). It can be a real dealbreaker when a customer sees a bunch of added charges on their checkout receipt. In the end, it pays to be transparent. Of course, you can change your prices, but that should also be done under full disclosure.
Expect dissatisfied customers
Sometimes people have buyer’s remorse, and it has nothing to do with the quality of your goods and services. Accordingly, you need to have a return policy in place. In fact, it may help to publish your return procedures in a visible location. If a visitor to your site sees how easy it is to return their purchase, they’re much more likely to make the transaction.
“Make sure it’s easy for the shopper to return to their original shopping cart, by creating wish lists or sending a friendly email reminder,” suggests Buzz Small Business Magazine. “Not every visitor to your site is going to become a customer, but with the proper checkout process, you can increase those odds and cure your small business’ website from the empty shopping cart syndrome.”
Offer a wide array of payment options
You might be surprised by how often shoppers will opt for a different retailer if they’re not able to pay how they would prefer to. Optimize your site to accept all major credit cards. Link it with PayPal. Coordinate with social commerce and mobile access. With the wide variety of relatively inexpensive ecommerce tools at your disposal, there’s no excuse to lose a sale because you don’t accept a certain card brand.
“Not only should you be flexible with purchasing options, but also you should be promoting these options throughout the entire purchasing process, not only at the final checkout,” Buzz adds.
Invest in design and promote security
Virtually everyone can relate to visiting some shady site with pleas for you to buy something. Anyone with a head on their shoulders is able to recognize a lack of professionalism in the ecommerce space, especially in today’s tech-infused landscape. Strong design with a user-friendly interface is paramount when it comes to traffic retention. Equally as important is the level of security you offer. After all, customers are disclosing private financial information to you. They expect – demand – top-shelf security.
