50 Actionable Tips from Experts on running an eCommerce Marketplace
It is always said that with experience comes wisdom and with wisdom comes success. The eCommerce marketplace has become huge enough to attract individuals from corners of the globe to start their own business.
Motivation is required for running an eCommerce website whether the venture is small or gigantic.
Nowadays budding entrepreneurs are very much interested in commencing their own business. They certainly have their gears in place but what they need is inspiration from people who have already been there and done that.
The void which these youngsters need to fill in the experience gap. To avoid mistakes in the long-run you can follow these eCommerce tips mentioned below.
- Let’s state 50 of the best inspirations tips from the “Masters of eCommerce”.Not hurrying your launch is a much-sorted plan of action. It is commendable that before launching your initiative you must come up with a foolproof plan. Create a flowchart to chalk out the points you must follow.
- Research and develop strategies. Read everything you can find on the internet related to your business. Try to stand out from others. Experiment with everything including the business revenue model.
- Be innovative. Stay aware of the current dominating market trends and try to start something which has never been initiated before. Remember innovation is the key to success.
- Build a strong relationship with the ones who are probably going to be first of the few followers of your venture. By this, you can get a solid grip on the ones who will be looking forward to the growth of your business.
- Try to gather ideas about the positive and negative specks of your market competitors. Ignoring them will be a shortcoming. Try to come to a conclusion as to what features would be commendable for you and your customers. Find a solution to the negative aspects of your competitors and kick off your venture.
- The most important part is to acquire a solution for your business. Getting software by spending a one-time amount is better than starting from scratch. If you are sure about sustained growth then you can pursue any of the two ways.
- Make a thorough investigation of the market and see the best business you can commence. Take note of the products which would create a buzz and actually help your business prosper. Also, remember your eCommerce website can be a service to individuals from any location on the globe.
- Since you are commencing an eCommerce venture you must think of delivery and secure payment. There are certain logistics service providers who will courier your product to the desired location. You can also use courier services but cannot leverage Cash on Delivery with it.
- Choosing a spectacular revenue model is crucial since the aim of your eCommerce website is to monetize it. Experiment by introducing more than one revenue channel and test them frequently.
- If your application is not running on a mobile phone then you need to reconstruct your plan. Mobile-based applications are in way higher demand than web-based ones. Responsiveness and user-friendly traits can also be included in the booming smartphone industry. Give your customers the best browsing experience with your eCommerce marketplace right in their palms.
- Visual appeal is important since customers generally look for designs which are a treat to the eyes. A spectacular design would draw uncountable audiences to your website which was impossible without an impeccable framework.
- Use filters to segregate products from different categories. Rather than involving your customer into a detailed search, you can make it easier for them by classifying products and putting them into their relative categories.
- Proper navigation is a crucial feature for eCommerce businesses having hundred and thousands of product pages. An improper navigation on your website makes it confusing for the customer to look for the specific products he would require.
- Make your URL sweet and simple. The link to your website must be simple but it must explain what niche you are following. Basically, and URL must give the idea of what the website is all about.
- Navigation is primary, but next to it lays the implementation of a robust search feature. The search function is so user-friendly, that it keeps helping customers so that they could lay their hands upon the desired product. Your website needs a spectacular search feature enabling customers to look for what they want.
- Try and come up with a brilliant Search Engine Optimization in order to rank your page higher on search engines. Use niche keyword and the ones in trend and your website will rank better on a search engine results page.
- Create an appealing product page. An appealing product page would contain every specification about the product which you would require along with a detailed image showcasing every edge of the item. Implement zoom-in features for the product images so that an individual can actually get a feel for buying it.
- Include product videos for promotional purposes. How about including all the product specifications in your marketing video? How about speaking about an upcoming product launch or a week of discounts in your video to attract spectators?
- A secure payment gateway including multiple payment options must be chosen since transaction of money is the part individuals actually care about. Build the trust factor between your business and your client. Include payment options such as credit/debit card and also cash on delivery to avoid confusion.
- Incorporating an FAQ page is important since this is the place where all the customer’s doubts will be answered. You won’t need to send support emails anymore since FAQ page will take care of it.
- A chatbot is the most recent development of the Artificial Intelligence industry which enables eCommerce platform owners and admins to speak to the customers in case the clients require assistance. This 24*7 customer service is a notable speck that must be added to build a thin line of loyalty between u and your customers.
- Surveys have indicated that individuals before buying products from you eCommerce marketplace go through the reviews and ratings posted by other buyers from your platform. A review throws light on the product, discusses its flaws and pros and acts as a pre-advice to the customer before taking a step forward.
- Make sure that the languages used are widespread and can allow individuals to speak to their natives. If your venture is across borders make sure your script allows the transaction of multiple currencies.
- If you were unaware then know that color psychology always has been a driving factor. Every color represents an emotion. Keep these in mind while creating a logo for your business. Try and include colors which relate to your brand.
- Implement features for social login so that individuals can sign in to your website with their Facebook or Gmail credentials. This makes the check-in and check-out processes very easy.
- Make sure that your customers do not have to create an account or register in order to buy a product.
- Prevention of cart abandonment depends on features such as “wish-list” and “favorites”. Customers can add a product to their favorite list so that if required they would come back to the cart and place an order for it.
- Reduce the number of steps commenced in a shopping experience. Make the steps from the search for a product to its delivery short and simple so that user-friendliness is guaranteed.
- Introduce real-time tracking features so that once a product is ordered you can follow it with the help of GPS enabled services on the website. Customers can now estimate their product arrival date.
- Use a reputed and trustworthy broadband connection whose bandwidth is enough to suffice your needs. If your website takes too long to load then customers will probably quit your platform and try others.
- Implement the latest technology in the market to power your website. An obsolete technology will reduce your site’s efficiency and make customers leave your marketplace.
- Addition of a blog is crucial to your eCommerce website. Including a blog drives more organic traffic to your website. Your search engine ranking will also improve with this inclusion.
- Test your users as to what they think of your features. If a feature does not attract a group of an audience then you can collect relevant feedback from your customers as to what you can include.
- Your product might be the best, but if not marketed properly won’t be able to generate any kind of profit. Promote your products in such a way that customers come back to you along with their friends as well.
- Create business profiles on social media including Instagram, Facebook, and Twitter to promote your venture. Abundant traffic will be driven to your site and your content will definitely go viral.
- Come up with content you know would go viral. A catchy logo is also a hallmark of top-notch brands. Your company logo tells your customers who you are. To maintain a long-term relationship with a spectacular logo you create.
- If you are serious about a good turnover then you can implement ways to recover abandoned carts. Surveys state that two-thirds of online buyers leave the cart without going forward with it. Since 63% of it is recoverable, try doing the same using specific tools.
- Advertisements play a huge role in marketing your business. Driving traffic to your website is impossible without ads. However, you must put on your thinking caps and invest in SEO and social media marketing to drive enough traffic.
- There are certain websites which only display discount coupons and codes from various sources. Make sure your discount coupon is also listed on those sites so that customers are attracted to the benefits your marketplace offers.
- A loyalty program helps in customer retention. Create a loyalty program which includes benefits and rebates for the customers who are loyal to your business. Customers will repeatedly buy from your website.
- Create an email list to send occasional emails to your most devoted customers which include newsletters and promotions. This will keep customers engaged to your business and make them return once in a while.
- A membership program can also influence the way your customers consider your image to be. Benefits like same day delivery and early bird discounts will attract more audience to your business.
- Make your website user-friendly to both buyers and sellers. Remember they are the main factors driving your business. Features and tools which are crucial for both the seller and the buyer must be present in your eCommerce marketplace.
- Do not charge to ship a product. Individuals want to pay only for the amount which has been quoted on the website. Charging extra would drive customers away from your website.
- Be transparent enough to give an estimated time for dispatch to delivery. Your customers will gain faith and if you can abide by your promise, they will come back with a bigger crowd.
- Offering brilliant customer support generally gaps the bridge between customers and administrators. Answering customer queries and attending to helpless clients will boost you endeavor without a doubt.
- State policies which are beneficial to you as well the customer. Introducing return and refund policies will not only keep your clients loyal but also make your eCommerce marketplace consumer friendly.
- Implement a daily deals section along with another one for gift cards. Let your customers know that they can shop using these cards and get mouth-watering rebates.
- In an eCommerce website, the owners might not sell products directly to the customer. Rather, they include a third-party or a vendor who processes the sales. Initiate a better vendor management system so that the sellers are content with your initiative.
- Make sure the quoted prices are close to what your competitors are offering on their websites. Any individual will be attracted by a lower price. Keep in mind that whatever your offer is close to or lower than your competitor’s quoted price.
With the advent of the internet, launching a business is easier than ever. An eCommerce marketplace when launched needs to think about a lot of other things barring the generation of revenue.
The 50 points stated above will not only help budding entrepreneurs in a long run but also will aid in generating commendable traffic and revenue. Keeping these points in mind you can now run your own eCommerce marketplace like an expert.