Saturday, July 24, 2021

13 Reasons Why Your Ecommerce Business Is Not Successful Yet!


Running your own ecommerce businesses is not as easy as it might seem in the very first instance.


To start and run a successful ecommerce business, you will need a full-proof marketing campaign that aligns with the business goals you want to achieve.





There are several common mistakes that ecommerce store owners make when it comes to marketing, especially those who are new in business!


If you want to ensure maximum growth and sales, you have to think about your overall marketing approach right at the onset.


E-commerce has become the ‘new normal’ in the world of retail business. This makes the ecommerce market highly competitive.


Hence, one silly mistake in your marketing strategies can make or break the future of your ecommerce business.



Let’s take a sneak peek at the most common mistakes in eCommerce Marketing.

#1. Not Knowing Your Target Audience



Every successful digital marketing campaign begins with in-depth customer research. You have to know who your target customers are, what they like, what they need, what they are looking for.





Ecommerce store owners need to be clear about who their clients are and accordingly align their marketing efforts to drive as much traffic to their website as possible. 



#2. Trying to build an online store on your own 


Many new ecommerce store owners try to do everything by themselves, instead of hiring an ecommerce development company or agency.


Being self-sufficient is good, because it gives you flexibility. But if you’re not an expert in ecommerce development, you can end up making adverse mistakes.


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The best option is to hire an expert ecommerce development company like AchieveX and let them do the work, while you can focus on more important business decisions.


The experts will study your store requirements and choose the development platform that is suitable for building your store.


There are several experienced ecommerce developers that come with varied skill sets and offer services at reasonable prices.


Agencies like AchieveX Solutions can deliver the perfect ecommerce store suited to your business-specific requirements.



#3. Extremely wide range of products 


Starting your ecommerce store with too many products all at once can be a dicey approach. It would be wise to begin selling fewer products when you just start out.


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Once you get the hang of it, you can keep adding more products as your business expands.



#4.  Not focusing on Average Order Value 


Another common mistake made by new ecommerce store owners is focusing too much on the sales funnel and focusing too less on the average order value.


Consider the costs of marketing for each new customer and focus on the average order value.



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For instance, if you have 3 new customers who are spending $20 each to make a purchase from you, it is better than having just one customer spending $60 to make a purchase. 

Why? Because more customers indicate more brand recognition, which is important to ensure the long-term growth of your business. 

#5.  Poor product descriptions and unoptimized images 


“A picture speaks a thousand words” isn’t it?


If you share poor quality product images on your ecommerce store front and product listings, online buyers will conclude that your product quality is just as poor as the image quality.




Inconsistent product descriptions or insufficient product description can drive your potential customers away from your ecommerce store to your competitors.


Online shoppers look at everything before they make a purchase.


Beginning from your product images and descriptions to reviews and ratings, they will consider all the information before they buy even the smallest product from your ecommerce store.



Hence, it is important that you hire a professional content writer and also a professional photographer, to make your product images and descriptions look appealing, genuine, and comprehensive.



#6. Wrong Pricing 


The pricing is a tricky aspect of any business. Getting the pricing right is not going to be a piece of cake for you!


If you set a pricing that is too low, as compared to your competitors, your potential customers will associate the low price with poor product quality.


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On the contrary, if the prices are too high, customers will consider it unreasonable and arbitrary.


Both the circumstances will only deflect your leads to your competitor’s ecommerce website, and you don’t want to put your business through that kind of loss. 


#7. Ignoring mobile users 


Everybody is using a smartphone. Mobile users are all over the web looking for information on the go.


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A large part of the potential customers for ecommerce businesses are mobile users.


So, if you want to penetrate into the mobile market, you will need to build a mobile-responsive ecommerce website. 

You don't want to lose customers just because your website does not function seamlessly adapting to a mobile device. 


#8. Poor Marketing 


Creating content is just the first step, but making sure that people read your content can be a real struggle!



No ecommerce business can afford a poor marketing strategy because the consequences are only derogatory.


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If you don't have the proficiency to do it yourself, go ahead and hire an expert, but never compromise on your marketing efforts.

Marketing helps you to sell and generate profits, and you don't want to sabotage the future of your business by making such irrelevant mistakes.


When your goods satisfy the need or desire of your target customers, it is important that you don't just stop at selling.


If you want your products to cater to the needs of more customers, you have to keep your voice consistent so that they never forget about your offerings.



#9. Using the wrong CMS  


Choosing the right CMS is extremely important. Content is King, and it always will be, no matter how digitised the world becomes.


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So, you should never compromise on quality when it comes to your content management requirements.


Consult with an expert and take suggestions on the best CMS platforms that you have at hand, and choose what suits you best.


But don't compromise on the quality just because it’s expensive. A poor CMS platform can actually result in more losses for your business.



 Choose a user-friendly CMS platform that allows you to scale your website up or down based on your demand and sales.



#10. No Contact Information 


Irrespective of what you are selling on your online store, customers tend to trust businesses that are easily accessible in case any problem arises.


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Hence, sharing your contact information on your ecommerce website is more than just important. It is essential.

Queries could be about different issues relating to product quality, delivery, shipping, and more.


Your customers should easily be able to reach out to you with their queries.


Zero contact information makes customers doubt the authenticity of your ecommerce business. 





#11.  Forgetting About the User Experience 


With new online businesses emerging every day, e-commerce is developing quickly,
and so is the competition.
  

Hence, online shoppers have a wide range of options to choose from when buying online.


If your website does not look professional and organised, if your website does not load fast, your potential customers will simply turn their back on your website to turn towards your competitor websites.



Build a website that looks familiar and offers a seamless user experience, right from the time when your potential customer enters your website till checkout. The keynote here is to make the shopping experience as simple, as convenient, as fast, as possible.


#12.  Lacking social proof 


Social proof is the most significant criteria that consumers today use to determine the position of any business online.


Customers want to know what other customers have to say about your product. This helps them make a decision.

 

Hence, make sure to display customer reviews and comments on your ecommerce website, because that acts as a social proof for your online business. 


This contributes to building confidence and increasing conversion rates.

Online shopping does not give customers the opportunity to hold and feel the products they are going to buy. Hence, it is important that you share as much product information as possible, especially visual.


Encouraging customers to share product images when they make a purchase from you can be a good marketing tactic to generate social proof.



#13. Not Analyzing Your Data 


Your marketing campaigns and strategies are of no use if you don’t collect or analyse data.


Why? Until and unless you track and analyse the results that you have generated with your marketing efforts and activities, you will never be able to identify the loopholes and mistakes in your marketing campaign.


You will see that your efforts are not generating the desired results, but you will never be able to identify the exact reason behind the failure until you analyse your data.



Is your content getting sufficient reach? Are your ads reaching out to the right customers? Is your monthly sales generating enough profits?

Data Analytics is the answer for all your questions.


Are you one of the new ecommerce business owners who may be making these common mistakes? Then you have landed on the right piece of content! Hope we have been able to address all your pain points when it comes to starting your own ecommerce business.

Feel free to share your valuable inputs in our comment section below.


Every suggestion counts! For more information on e-commerce solutions and development, contact AchieveX Solutions.

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Wednesday, July 21, 2021

Steering Technological Innovation To Ensure Data Security.



Data Security is one of the biggest challenges in the current digital era. Data-driven strategies stand at the core of achieving success in the 21st century.


Digital data opens the pathway to the emergence of new trends that help migrate socio-economic activities to the digital space, while reducing costs of data collection and maintenance.


With the digitalisation of data, both startups and large enterprises are being able to maintain huge volumes of data easily at a centralised location, preferably the cloud.




Insightful data sets have become a core asset in the global economy helping industries and businesses use the data collected to stay ahead of market competitors.


Both private and public organisations now have the opportunity to obtain in-depth data, but that comes at a cost.


The cost would be the risk of data breaching, data hacking, and data misplacement. These potential risks bring data regulations and security features to the forefront.


Governments are also doing their best to establish a proper regulatory system in response to data security threats.


  The whole scenario of data collection and management makes it important for all organisations to thoroughly understand what data is, its types, importance of data privacy, and more.


It is important for entities to understand how data is driving innovation.


What is data, What are its types and What is data privacy?


The term 'data' refers to a representation of information, facts, opinions, concepts, or instructions in a manner suitable for communication, interaction, interpretation, or processing by people or by automated machine. 


In terms of presence or absence of identifiable information related to consumers, data can be broadly classified into two types:


  1. Personal data

  2. Non - Personal data


Personal data- It includes data relating to a natural human (generally referred to as data principal) that directly or indirectly identifies that individual.


Such data may incorporate details regarding any characteristic, attribute, trait, or any other feature of the identity of such a natural person . It can be further categorized into-



Sensitive Personal Data: It includes sensitive information, which if misused, can be a problem for an individual. Examples would be passwords; health data; official identifier; financial data; genetic data; biometrics data ; tribe; religious or political beliefs, etc.



General/ordinary personal data: General personal data consist of personal identification details such as name and address, tax-related matters ,customer relationships, etc.



Non-personal data: It basically consists of data that are neither completely related nor identifiable to a natural person, which was initially personal but was later aggregated and made anonymous. Broadly three types of non-personal data are there.


Public non-personal data: owned and monitored by governments, such as vehicle registration data and anonymized land records.


Private non-personal data: owned and monitored by non-government players and obtained from assets or processes that are privately-owned. 


Community data: The raw data of a group of people that may also be collected  by private players. This may include some data collected by the public electric utilities, municipal corporations, and private players like telecom, ride-hailing companies, and  e-commerce.


The Generation of large scale data generally in the form of personal data leads to the urgency of data privacy. 

                


Data Privacy or Information privacy encircle 3 key elements: 


  •  Right of a person to be left alone and should have control over their own personal data. 

  • Procedures for proper handling, collecting, processing, and sharing of personal data. 

  • Compliance with data protection laws.



How is personal data driving innovation in the present times?


Advancement of technology in the field of Artificial Intelligence, Machine Learning, Big data analytics, Cloud computing etc. has revolutionized the extent and nature of how information is generated, stored and analyzed in today’s digitized world. 


Some major areas where personal data is currently driving innovation are as follows:




Online advertising/ Targeted ads: By collecting and using huge amounts of customer data, the advertising Industry is  now determining which kind of customers are most likely to be influenced by a particular ad and whether the advertisement has actually succeeded.


For example, search engines like Google place ads on SERP based on one’s browsing histories.


•Health Sector: Collection and analysis of huge data sets of  (EMRs) or health 

records can assist health care providers to make diagnostic predictions and treatment suggestions.


For example, using devices like Fitbit, medical practitioner can help understand Blood Pressure patterns of a patient enabling a more precise intervention. 


∆ Also, such records can facilitate research bodies and public health institutions in research and development in healthcare solutions and policy formulation.


•Operational Efficiency: Large-scale collection of consumer data can also increase a firm’s operational efficiency through


∆ Effective and efficient  management of the supply chain.


∆ Design and development of recommender systems: 

to offer recommendations according to the user's preferences, interest, or observed behavior about any product.


∆Development of customized products as per consumers’ needs and interests.


Governance-Personal data can be used by state machinery for purposes such as targeted delivery of social welfare benefits, effective planning and implementation of 

government schemes, etc.


For example, the idea of Data based policing can enable more efficient utilization of available human resources. 


•Other potential innovative outcomes: 


Finance and Insurance: Data derive a unique opportunity for most financial services and banking organizations to leverage their customer data to transform their business, realize new revenue opportunities, manage risk, and address customer loyalty.


Transport: An individual’s personal locational data could be used for monitoring traffic and improving driving conditions on the road. 


Conclusion:

Technological enhancement should not come at the cost of privacy. Privacy is a fundamental and inalienable right.  As long as we create regulation that is predictable, nimble and fair, there is no reason to believe that regulation will impede innovation.


In fact, trust will form the right environment for greater involvement and participation in the digital economy, thus strengthening businesses, Industries and innovators.


Therefore, innovation in Technology and privacy of data can be made compatible by striking a balance between effective data gathering and a respect for consumer choice in matters of privacy.




Let us know if you found this insightful!


Stay tuned for more from AchieveX!



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