E-commerce is the way new and a very easy way to shop for anything you like. Whether it is fashion or necessary items like groceries, you can get these delivered by just lifting a finger.
Let’s understand what constitutes E-commerce and its types.
What is E-commerce?
Electronic Commerce, popularly known as E-commerce, refers to the common buying and selling of goods and services online. It can be clothes, grocery items, books, electronics, and even food. The exchange of goods takes place with the help of websites and the internet and does not require the buyer, sellers, or any intermediary person to meet physically. E-commerce is largely concerned with its customers, clients, and suppliers.
Types of E-commerce
There are six different types of E-commerce business, depending upon the supplying and the receiving parties.
- Business to Business (B2B)
- Business to Consumer (B2C)
- Consumer to Consumer (C2C)
- Consumer to Business (C2B)
- Business to Administration (B2A)
- Consumer to Administration (C2A)
Best Ways to Boost Your E-commerce Sales
1. Target your existing customers
It is easy to recognize when your E-commerce business starts towards the downward trend. As with any other business, E-commerce is no exception to business failure and likewise can be boosted using various strategies.
Customer acquisition is an important part of any business. You obviously want more and more people to attract and buy from your website, thereby magnifying your sales and reputation.
However, this may not always be the case. When you’re unable to bring in more customers, don’t deem the business as a failure. Instead, shift your focus to existing customers are they are more likely to buy from you.
Compared to new customers and customers who only made one purchase on your website, loyal customers:
- add more items to their shopping carts
- have a higher conversion rate
- generate more revenue each time they visit your site
They have no learning curve and already trust your brand. You should always reach out to new customers, but improving your customer retention strategy can prove to be cost-efficient and fruitful.
2. Paid Traffic
I know what you’re thinking. Paid traffic does not bring much return and is too heavy on the pockets. Well, this is where you’re doing it wrong.
If implemented in an informed and correct way, paid traffic can be one of the easiest ways to attract more customers and bring in more sales.
I have seen many beginners dumping huge amount in paid ads, thinking more money will get more returns. But that’s a common newbie mistake. In fact, you should start with a small amount, around 50$ and then test your campaign. Instead of having one campaign, make multiple campaigns with variation in age or target area, etc.
Paid Traffic is all about testing. You test with different criteria and money, and you do land that perfect campaign, the sales come pouring in. Always make sure you have a thorough understanding of your target customers. Though paid ads are tricky, and not every individual can do it, you can hire a digital marketing company like King Crescent, and make it easy for you.
3. Make it trustworthy
Trust is a huge factor when it comes to shopping online. Since customers are required to put in their personal and bank details, it is natural that the customers would first investigate whether it is genuine or not.
In the last five years, 46% of Americans have been the victims of credit card fraud. Security of their information is a priority for online shoppers.
The first step is to have a secure website with an SSL certificate. This is the most basic step toward having a secure website.
The next step is to showcase the security badges that your website may be using. For example: – PayPal certified badge, VeriSign, etc. From being a Google Trusted Store to Norton Secured, make sure you list the credible sources. Any information on your website should not be misleading or false, as it can get you into legal trouble.
4. Social Connection
With the growth of Social Media and their popularity, it is only a fair decision that your business should be there too.
When your business is on Social Media, it gives your customers a chance to interact, connect, and understand the brand better.
Being present on social media keeps your customer up to date with new collections, sales, and much more. They can contact you directly by dropping a message into the inbox rather than going through the tedious process of contacting customer care.
The visibility of your brand on social media makes a customer trust your brand. Moreover, you can indulge in social media campaigns like giveaways or contests that would allow more people to be aware of your brand name while also acquiring a greater customer base.
5. Checkout Process
Nobody likes to spend their time on sign up and checkout pages as a customer. I personally have abandoned so many carts because of the tedious checkout page.
Let’s see what we can do to shorten the process. The first step is to remove the compulsory sign up and give the customers an option to checkout as guests. Apple does this gracefully and it has led to a rise in the number of sales and customer satisfaction.
All of this helps to reduce friction and therefore makes the job of going through the checkout process easier, and less tiresome. Another way you can make the checkout process simpler is by reducing the number of form fields that potential customers need to fill in. There are plenty of ways through which you can make the checkout process simple and smooth, like adding only the necessary fields, giving dropdowns instead of a manual filling, and much more.
E-commerce is a rewarding business once you know how to navigate it through the hurdles of customers and sales. The best way to go about a business is to implement the tactics that you learn here.
If you have any doubts or queries, feel free to drop it in the comments section below!