Like anything else, being organized is one of the keys to success.
As your online business grows, it’s important to take inventory of your company’s organizing habits.
0 Comments
Customer service might not be the first topic to come to mind when brainstorming solutions to improve your ecommerce store’s sales conversion rate. But it should absolutely factor into every business owner’s equation.
Good customer service is one of the main drivers of customer attrition, i.e. the retainment of existing customers. And “it costs 5 to 25 times more to acquire a new customer than retain an existing one," according to a Bain study. You’ve come up with a great business idea. Now you need to decide how to bring that great idea to market.
Should you rent out a retail space and outfit it to suit your needs? Or put your capital toward creating a professional ecommerce website? Back in the day, trust in business was established primarily by word of mouth.
Friends and family members would recommend shops, restaurants and businesses, then you’d build your own trust on the foundation of a personal relationship with the shopkeeper. But in the globalized, digital economy, this is a much smaller reality. For many ecommerce store owners, shipping is an afterthought.
They work hard to develop a good product, build a website and a brand, and attract loyal customers in the process. What they forget is that the last piece of the equation — shipping — is a major determinant in a shopper’s final purchase decision. A dozen or so years ago, any mention of the word blog would probably have conjured images of a sappy online journal chronicling a person’s day-to-day life. But the modern blogging world has turned that paradigm on its head.
Blogs have become a critical tool for businesses both large and small. And their function can be summed up in three words: consistent content marketing. Simply stated, today's ecommerce blogs serve as the engines that drive traffic to websites and often result in increasing sales. Of the billions of people that shop on the internet worldwide every day, few of them have any real intention of buying something.
Startlingly few, in fact. Just about 8% of online shoppers are high-intent shoppers. That means they're consumers with specific items in mind and a genuine intention to purchase them. The other 92% are just browsing. Managing ecommerce inventory for your online store is likely the most important aspect of your business after generating sales.
Because, while sales equal revenue, proper ecommerce inventory management ensures those sales can be fulfilled accurately and in a timely manner. Think of some of the most iconic brands in the world — Apple, McDonald's, and Starbucks, for example.
Products aside, what’s the one thing that each of these brands has in common? A niche. Having great products won’t get you very far if nobody knows about them.
How about marketing your products to the right shoppers at the time they are most likely to purchase? That is the power of ecommerce advertising with Google Shopping Ads! |