Avoid These Seven eCommerce Mistakes & Let Your Business Thrive!
We all are human, and humans tend to make mistakes. But when you are planning to get aboard in the eCommerce industry, you can’t afford to make continuous mistakes. A study says that approximately 75% of new online businesses fail because they fail to avoid these mistakes. Since the eCommerce industry is a cost-effective business, you may underestimate the risks and mistakes in the beginning. However, starting an eCommerce business, you have to focus more on survival than on the other aspects of this business.
Some of you may make mistakes unknowingly in the initial stage of your business, and it can affect the growth of your online business later. As a seller, you have to make sure that you are capable of providing top-notch services to your customers. Customers have thousands of options available, and somehow, if you miss a chance to fulfill their orders efficiently, they may simply switch to your competitors. To tackle this situation soundly, you must know the eCommerce mistakes that you need to avoid in terms of managing your business effectively and efficiently. In this blog, we have mentioned seven eCommerce mistakes you must avoid.
Seven eCommerce Mistakes That You Must Avoid
No Market Research Before Starting
If you are about to start any business, it is essential to do some research before your start. Specifically, it is necessary to research the latest market trends in the eCommerce industry. It is one of the sellers’ most common mistakes before starting their eCommerce business. Suppose customers are more likely to buy products from the latest trends and you’re launching a new but outdated product on marketplaces; who will buy them? Undoubtedly, no one, and if some may, but then also it can’t provide you the expected ROI. Market research does not only refer to research only about the latest trends, but you also need to rotate your eyes on the other aspects as well, such as what your competitors are selling and what customers prefer more to buy from an eCommerce platform.
Selecting a Wrong eCommerce Platform
You must choose the right platform to start your online business as an eCommerce seller. It is essential because it is the base of the eCommerce business. Suppose you fail to choose the right platform. In that case, you may lose the heavy opportunity to make your business successful in generating revenue and making an enormous customer base. As a startup, you must choose platforms with a solid customer base and credibility in the market, such as Amazon, Flipkart, Myntra, etc.
These prominent platforms have the potential to accelerate the growth of your online business and make it stand out from the competition. As a new seller, you must know the nature of whichever platform you choose to sell your products. Look closely at what categories they are offering and what charges they will deduct from your every order.
No or Less Promotion of Product
If you are new to the marketplaces and customers are not aware of your products, then it is crucial to run promotions related to your products. It is evident if customers won’t get to know about your product, how they will buy it. So in this scenario, you need to make several promotional strategies to make your customers aware of your product. It can be one of the sellers’ huge mistakes in not promoting their products at all. In lack of promotional activities, your business may fail, and you won’t be able to re-establish your online presence.
Why take such a risk when you still have the chance to make it a successful affair for you. Several platforms offer promotional features to their sellers, and you just need to invest a little amount and go with the flow. Promotions can effectively attract customers and let it survive at multiple eCommerce sites. Believe it or not but promotions are the crucial step in establishing an online business or launching a new product.
Lack of Inventory Management
As an eCommerce, you may start selling a small number of products, but as soon as your business starts expanding, you have to manage your inventories first. Inventory management is imperative for any eCommerce business, especially if you want to become a multichannel seller and sell your products on various platforms. Due to the poor inventory management, you can not only miss out on a solid customer base but may also lose on a heavy revenue generation factor.
So it is better to get along with any powerful inventory management software such as eVanik. Such software can provide you with real-time inventory reports. Getting along with software can also save you from overstocking. Apart from that, it effectively helps with reconciling the other inventory-related issues.
Complicated Checkout Process
In the eCommerce world, acquiring the buy box section is essential. To reach this section, you need to ensure that your customers can quickly checkout and buy your products. If the checkout process is complicated and not preferable for the customers, they might not buy your products or simply abandon the cart. To escape this situation, you need to check if the eCommerce platform is offering prominent payment modes or not. There should be the option of credit, debit, Upi, and cash on delivery feature on the platform. Apart from that, if there is any buy now pay later option, you must acquire that also because it can attract customers and make them buy your product even if they don’t need it.
Ignoring Customers’ Feedback
Various sellers on major eCommerce platforms don’t know the necessity of replying to customer feedback or making product changes according to customers’ preferences. This is the reason why they aren’t able to make enough sales. Thus it is one of the biggest eCommerce mistakes that most sellers make today. If you are in the process of selling your products on multichannel or have already started your journey, you should give importance to the feedback of customers.
Understand that you are in this business for customers, and your business may survive because of the customers. So there is no denying the fact that you must focus on what your customers are saying. Must reply to their reviews, in this way you make them feel special and they may become your loyal customers.
Clumsy Product Listing Quality
Apart from all other mistakes of the eCommerce business, meager product listing quality is the specific one, and it can ruin your entire hard work if not done correctly. Most sellers do not focus much while listing their products on any eCommerce channel. They don’t see whether the description is suitable, the title is accurate, and whether the product quality is good or not.
Be aware if you are also doing the same because it can negatively affect your entire business. Think from a customer perspective, will you buy such products that have a poor appearance? It might not make sure that you are adding good quality images, embellished descriptions, and attractive product titles along with the relevant title.
Making eCommerce mistakes is inescapable, and you may struggle to get back on track and make your robust online presence as a prominent seller. However, if you are in the learning process, you must consider the above points and try to resolve them as soon as possible. You can not afford to indulge in such mistakes if you envision expanding your online business and making it successful at any cost.
While associating with the eCommerce business, you need to put your customers first and provide them with a pleasant buying experience. Try to know the customer’s shopping behavior and fix all the hurdles coming in the way of order fulfillment. In this regard, you can subscribe to any automatic order management software such as eVanik OWS to eliminate several issues and speed up this process.