The e-commerce industry is growing worldwide and is predicted to reach about $27.7 trillion US dollars by 2020. Yet, this does not necessarily mean that all e-commerce companies are consistently increasing their online sales. In fact, working in this industry is not exactly simple, as companies face many challenges that can impact in ecommerce growth.
It is necessary to control, measure, follow and adjust everything, all the time; from maintaining the page to offering the customer the best customer service possible. An e-commerce owner should innovate, improve the website, be active 100% of the time, adjust their store to the market.
Of course, you want to be one of the top e-commerce companies out there. But, how did the best online retail companies did it?
By performing tests and anticipating trends. There are times – especially during crises – when you have to stop to review practices, choices, and strategies.
In order to increase sales of your virtual store, there are few questions you should ask yourself i since without reflection and analysis it is almost impossible to produce a really effective diagnosis.
Here are five of them.
1. Are you following the right metrics?
If you want to find out what is keeping your e-store from growing, the first step is to measure all your store’s data, comparing periods of time and the impacts of any change you’ve made.
We’ve already talked about e-commerce KPIs in another article, so if you have doubts on how to measure your store’s performance it’s worth it to read and learn how to identify errors and plan strategies.
2. Is your store’s website optimized?
Have you ever thought that your page might be exactly what you think it should, but that (and perhaps for that very reason) customers do not feel satisfied or comfortable while they browse?
E-commerces should be thought for customers, not for their managers – the user should always be at the center of the goals when seeking to create a virtual environment.
3. Are you selling the right product to the right people?
how have you been choosing to communicate your proposals to the chosen audience? If you’re not getting the expected return, something should not be working well in channel choices (social networks, television, offline advertising, etc.) or even in the outreach message. And when you think about it, be sure to improve content production for e-commerces to create materials that convert more sales to your store.
4. Are you using an efficient marketing strategy?
How have you been choosing to communicate your proposals to the chosen audience? If you’re not getting the expected return, something should not be working well in channel choices (social networks, television, offline advertising, etc.) or even in the outreach message.
And when you think about it, be sure to improve content production for e-commerces to create materials that convert more sales to your store.
5. Are you offering the right payment options?
Sure, credit cards are the most popular payment method and it is probably the only payment option you offer your customers.But, if you sell across borders, accepting only this form of payment is one big mistake. Every region of the globe has their own culture and habits, and it is not different when it comes to payments.
You might been losing sales among your international customers because you are not allowing them to pay for their purchases the way they are used (or the only way they can): with local payment methods. Customers in Latin America, for instance, have a strong preference in using cash to pay for their purchases, even the ones made online. The brazilian boleto bancário, the mexican oxxo are some of the options available in the market.
Even foreign credit card users might’ve not been able to purchase from your shop, since in many countries, only a small portion of cards are enabled to mke international purchases.
Because of those reasons, having the services of a local payment processing company, which allows the international online store to accept payment through national cards or through other regional payment methods is essential. The consequence is increased sales and higher approval rates.