Learning from the mistakes of other experienced eSellers can help you avoid some of the heartache and financial difficulties that get in the way of a successful online business. The following is an overview of several common mistakes eSellers make, along with insights and tips on how to avoid them.
A Well-Planned and Intentional Marketing Strategy
There is much emphasis placed on website development and user experience in eCommerce, and rightfully so. However, any experienced eSeller can tell you that a fantastic website that no one visits does not pay the bills. You need a well-planned, intentional strategy for attracting the right customers for your business.
From the beginning, build your website and pages to optimize search engine rankings. Consider the keywords your customers will use and build landing pages to match. Social media, email and digital ads are other no-cost or affordable ways to promote for eSellers. Just ensure you map out your strategies before you start!
Leveraging the Right Sales Platforms
You have a lot of options for distributing your products through well-established online platforms. Amazon and Shopify are just a couple of prominent examples. Each sales platform offers pros and cons. Part of your business strategy should involve determining whether a concentrated sales approach makes sense, or whether you benefit by getting your products in front of a diverse mix of customers across various platforms.
Integrating Peer Influence
Nothing you can say about your business or products will carry as much weight in the minds of your visitors as the input they receive from peers. People value review and testimonial input from online strangers as much as they do personal recommendations from close family and friends. Thus, take advantage of the influence of your most satisfied customers.
Integrate customer reviews on your product landing pages so visitors can see what other customers have felt about their experience. Add testimonials that highlight positive feedback you receive by email or on social media.
A Concentrated Business and Product Strategy
Some eSellers attempt the catch-all or kitchen-sink approach to eCommerce. They figure the one-stop shop approach seems to work for Walmart and Amazon. However, attempting to build the next Walmart or Amazon with your online business is likely a fruitless endeavor.
Instead, find niches where a specialized category of product solutions align with the needs of a discerning and under-served marketplace. This approach allows you to build an appealing business and effectively communicate benefits to your audience.
Utilizing Global Payment Solutions
It is a huge mistake to build an online business that doesn’t take advantage of access to a global marketplace. The world wide web enables you to sell products and generate revenue from around the world. However, to optimize financial performance, you need to utilize a payment processing services with global benefits.
Payoneer’s Global Payment Services, for instance, allows you to effectively receive payments globally with limited risk and minimized transaction fees.
Conclusion
Recognizing these five common mistakes that eSellers have made and proactively avoiding them can mean big things for your online business. Plan ahead and learn from the misfortunes of others!