There are many things to consider when growing e-commerce business. From managing inventory, fulfilling orders, shipping, and providing five-star customer support, the list is seemingly endless. Even if your e-commerce business runs like a well-oiled machine, there may be small, hidden growth killers that are preventing your business from moving up to the next level. In this article, we will review the top seven most common growth killers that may be impacting your e-commerce sales.
The Top 7 E-commerce Growth Killers
1. Checkout Funnel
This is where most transactions and sales come to a grueling halt. Be sure that your checkout funnel is as easy as possible for customers to complete their purchases. If your checkout funnel involves seven steps, several forms to fill out, and multiple pop-ups in the process, then you are making the customer experience more difficult. As a result, customers will end up getting frustrated and abandoning their carts to shop elsewhere.
2. Available Payment Methods
Similarly, be sure to offer multiple forms of payment for customers, including digital payment methods, such as PayPal, Apple Pay, and Venmo, for example.
3. Mobile Optimization
Is your e-commerce site optimized for mobile? If not, then this is a definite growth killer. Many consumers today make purchases directly on their phones. Your online store should be mobile optimized and make it easy for them to do that.
4. Synchronize Inventory
E-commerce businesses that operate in omnichannel capacities typically struggle with ensuring their inventory is up to date. Be sure that your inventory is accurately syncing across all channels.
5. Customer Experience
E-commerce businesses that don’t take the time or put in the effort to consider the customer experience in their operations are likely hurting sales. Customers’ expectations for seamless, personalized experiences are higher than ever today. Be sure to review your current funnels and channels to ensure that you are providing the best experience for your customers.
6. Marketing Payment Methods
Not only will offering multiple payment options attract both local and international customers, which will ultimately boost sales, but it’s also important to market that your e-commerce business accepts these familiar payment methods. You can advertise this on your ads across your marketing mediums, including social media platforms.
7. Automate Digital Advertising
Similar to the previous point, you can automate and streamline your digital advertising efforts by leveraging technology. For example, AdScale is an AI-powered advertising tool that allows e-commerce businesses to not only automate the process of creating and running ads on multiple platforms but also optimize them. AdScale is a proven solution for boosting marketing ROI and stretching marketing budgets to go further.
Keeping Your E-commerce Business Alive
All in all, your e-commerce business practices and activities must be customer- and revenue-focused. The biggest changes made to e-commerce businesses are typically geared towards adopting new technologies, digital tactics, and innovative ideas. Above all, the most delicious ingredients for success include data, technology, and how you turn those insights into actions for growing your e-commerce business.