Ecommerce is a relatively young niche, and one that’s seen spectacular growth over the past decade or so. With all the accessible platforms out there, it’s hardly surprising that so many budding entrepreneurs are starting their ventures with ecommerce stores. Although ecommerce has massive potential, there are various challenges that merchants face on a day-to-day basis. Here are a few you need to be aware of:
High Bounce Rates
This is not only an exceedingly costly challenge in the ecommerce niche, but is also very frustrating. You’ve read all the marketing guides, done your best job at a content campaign, paid for PPC ads, and yet people seem to leave your ecommerce store with seconds of visiting it! The good news is, you’re not alone. Bounce rates are a problem for pretty much every ecommerce business, but there are a range of ways you can mitigate it.
Engage your visitors with tools designed to assist them with finding the products they’re after. You can make the process more intuitive by offering the same search options as Google – refining search terms and recommending products or offers based on visitor behaviour. The faster they find the product they want, the less likely they’ll be to change their mind.
Like many new business owners, you might have raised your eyebrows at this point. Rapid growth for any business is a good thing, right? Well, it can be, but only if you know how to handle it. As your business expands rapidly, your cash flow will have more factors thrown into it, making it much harder to keep track of. You may have to find staff in a hurry, taking a step back from the day-to-day work and into a more taxing leadership role.
More products, more marketing campaigns, more anything means more to worry about. If this kind of change comes on too quickly, it can be overwhelming, leading to operational clumsiness and a shortfall in customer service. The challenges of rapid expansion can be simplified with multi channel software solutions for order management and various other technological tools. However, you should still try to pace yourself and avoid biting off any more than you can chew.
This is like having a high bounce rate, but even more frustrating. You get customers to your website, they browse your pages and fill their shopping cart with the products they like. They make it to the checkout page and then… poof! They disappear in a puff of code. Billions of dollars are lost every year to cart abandonment, and although you can’t eradicate it altogether, you can certainly grind it down.
There are many reasons for this phenomenon, from internet crashes to shopper’s moms calling them right before they’re about to buy. However, one of the biggest causes is the lack of a clear call to action. With all the super-speedy technology we have at our fingertips these days, everyone’s in a big rush online. If it isn’t obvious how your customers can complete their purchase, they’re not going to stick around.