It appears we are far from a consolidation of competition in eCommerce as entrepreneurs and established companies alike enter the digital marketplace. In fact, eCommerce has experienced growth year over year of 23 percent, yet 46 percent of American small businesses do not have a presence online.
As more people around the world gain internet access, the economic impact to online business will likely grow accordingly. Although industry-wide growth is a great indicator, this highly competitive environment means consumers have more options than ever. Most products online are easily substitutable, unless your product is highly differentiated and can defend against competitive infringement.
It is vital when a potential customer enters your online store – you need to have everything in place for an easy purchase. If anything seems out of place to this easily spooked site visitor, they will certainly be scared off at the slightest glitch or out of place image. The fickle consumer of eCommerce highlights the importance of optimizing your site’s conversion performance. Driving a ton of traffic to your site is a great start, but it is not sustainable with current customer acquisition costs. The true measure of a successful online company is the conversion rate and we have compiled 20 tips to improve yours.
It is not enough to simply implement all these tips and expect to see double-digit conversion rates. Optimizing an eCommerce store is a slow and steady process of testing, measuring, and tweaking. Implement these tips one at a time to find what works for your market and continue to learn from customers, or more importantly, from the ones who do not become customers.
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