In 2015, a minimum of billion buyers spent a whopping $1.2 trillion in e-commerce purchases. E-commerce businesses have been growing all across and are projected to grow by almost 60% by the next year. No doubt, the opportunities have been bringing in investors and retailers of all kinds. Both global companies and startup businesses are trying to get hold of the online marketplace with their unique product and e-commerce strategies. It is, however, understandable that this is a sector that has been facing fierce competition from both big and small brands. Hosting an online portal and making it successful worldwide isn’t an easy job. If you are still on for the challenge, here are some tips that will help you sail through.
Before your move on to diversify your business, it would be advisable to ensure that you access your current order fulfillment capabilities. If you are trying to offer products to customers who don’t need them or won’t be able to afford them, it will be a disaster. Also, when entering new markets, ensure that you can provide the adequate shipping needs. It is also necessary that you have the shipping forms you have in other countries.
If you are asking for email addresses and other contact information on your current sales, it would be a good practice to use this double as a feedback opportunity. With some effort, you can translate this information into categorized leads. However getting the information can be a tricky thing. Not all customers would be open to sharing their personal details, even if it is their addresses or phone numbers.
Customer awareness is every step of success when it comes to successful e-commerce solution. Launching a local website in a localized language would be a good step here. You must also be taking good care of the website experience. This comes from a good UI and website design. Hosting an intuitive platform will be both an art and science. Data-driven analysis include conducting A/B testing and other metrics of engagement examination. Optimizing your multichannel ecommerce website for the audience will also improve your SEO and you will be better placed in search engines.
Opposed to the common belief, PayPal and credit cards aren’t the globally accepted means of payment. There are hundreds of millions of customers would are comfortable with other different kinds of payment options, ranging from debit cards to cash on delivery. Companies/businesses must adapt to and support these payment options. Japan for example, largely pays in cash to avoid the cyber risks of using a credit card. Some prefer bank transfers and others would go to a convenience store rather than buy online. The aim will finally be to support the local currency.
Lastly, ensure that you sue the opportunity presented by promotional campaigns. Bearing in mind the international cultures, you will want to invest some resources in understanding the behavior of the demographics you are interested in. Festive seasons can give you the opportunity to increase sales with promotions, discounts, offers and other kinds of deals.
Understanding e-commerce takes a lot of research. You will want to gauge the existing competition, the buyers you are trying to target and the sales pitch that would influence them best.