On the surface, running an online store might seem like an easy and profitable idea. However, only those who have never tried to actually do it might think that way. As soon as you start to get into the intricacies after launching the story, it becomes clear that there is a plethora of challenges.
Let’s cover these challenges in detail and discuss how one might overcome them. Hopefully, the information proves useful and makes it easier to manage an ecommerce business.
Converting Visitors Into Customers
Most of the traffic that comes to your website is likely irrelevant. And even if they do stumble upon a store, the odds of converting such a lead into a paying customer are still low.
According to Invesp, roughly 2.5 percent of visitors convert. Keep in mind that this is average, meaning that if a store has poor SEO and other aspects, the percentage will be lower.
Ecommerce entrepreneurs need to look for ways to do more than just drive traffic to the website. As soon as a visitor ends up on a landing page, they need to be persuaded to spend money.
For example, social proof, such as customer reviews, is a good example. You can import reviews and have them appear on a visible location on the website. In addition, it is possible to automate the process with the help of relevant tools.
Opinew is a better Stamped reviews import and display tool if you compare the two as they are quite popular.
Finding Reliable Suppliers
Many online stores use the dropshipping model because manufacturing and warehousing goods yourself is risky and expensive. Instead, they stick to a supplier that takes care of manufacturing, warehousing, shipping, and other processes, which leaves room to focus on marketing and customer services.
Having said that, it is not that easy to find a reliable supplier. Because you are going to depend on it, you have to make sure that your supplier will ensure that the goods get to the customers in a timely manner and are not damaged, at the very least.
Dealing With Cybersecurity Threats
Cybersecurity threats might not seem like a problem that stands out for smaller stores, but even those become victims of random attacks. And the more prominent a store becomes, the more likely it is to become a target.
Sometimes, it is competition behind the threats. Other times, it is random DDoS attacks from an unknown source.
The bottom line is that cybersecurity threats are a pain to deal with, and it is necessary to invest in proper security tools. Otherwise, businesses risk exposing client data, facing website downtime, and other issues.
Customer retention is one of the hardest challenges to overcome. Just because someone buys from you once, there is no guarantee that they will return for another time.
Product quality, personalization, retargeting, perks, and other ways to retain customers should be part of a marketing strategy if a business is looking to avoid potential woes.
Failing to create a customer retaining strategy will lead to your customers looking elsewhere and going to the competitors instead of staying loyal to you.
Returning and Refunding Purchases
Returns and refunds are pretty much inevitable. It feels pretty bad when you get an order, see the customer complete a transaction, and get yourself disappointed after they return the goods and ask for their money back.
In addition to making you feel bad, returns and refunds also mess with the business by slowing down processes. The time you spend on dealing with returns and refunds could be put to better use, such as marketing.
Scaling the Business
The goal of scaling the business is quite common because many entrepreneurs wish to increase their profits, hire more staff, and attract new customers.
Stagnation gives a negative feeling in the sense that you start to doubt your judgment after running into a wall and failing to make the numbers go up.
Sure, scaling a business is not something that one can accomplish that simply. It requires planning and emphasis on knowing which moves to make and when to make. Determine whether you should focus on introducing new products, pouring resources into new marketing channels, investing more in current ideas, and so on.
Finally, do not be surprised to encounter moments when the business is not growing despite your best efforts. Sometimes, the transitional period might need more time than you expect.
Offering Exceptional Customer Service
Exceptional customer service sounds nice on paper, but that is not something online stores can accomplish right off the bat.
The buyer’s journey should be with as few obstacles as possible. Ideally, shoppers should not encounter any problems.
From customer support and informative product descriptions to a simple transaction process and timely shipping, it is crucial to provide customers with the necessary things they expect to find on an online store.