Starting any kind of business is hard. It requires a lot of effort, time, and most importantly resources. But even when if you have all that, it is even more crucial to have a deep understanding of how the business and marketing industry work. The world of eCommerce is fairly new. However, its effect on the whole world is extraordinary.
What is eCommerce?
E-Commerce is a type of business model that runs solely online or through the internet. The term eCommerce particularly refers to the transaction of goods and services completed on an online platform.
eCommerce is not technically new. The first online sale happened as far back as 1979. However, the growth of online businesses and markets significantly grew in the 2000s. Starting from the birth of Amazon, and the development of Paypal, Shopify, and WordPress, the online world slowly paved the way for the eCommerce industry.
By 2021, eCommerce is already integrated into everyone’s lives. According to recent data, there are more than 2 billion digital buyers globally. In the same year, eCommerce accounts for more than 18% of the world’s total sales.
3 eCommerce Business Mistakes You Should Avoid
#1: Choosing The Wrong Platform
When starting an eCommerce business, choosing the platform is one of the most important things that you would have to do. Deciding on a platform is like picking your business location.
Imagine you’re opening a physical store, everyone would say that location is everything. You would have to think about foot traffic, competition, accessibility, and more. The same idea goes with choosing a platform for your eCommerce store.
Platform choices are not all about what’s popular. You need to be strategic and logical. Consider the following when choosing an online selling platform for your business:
- Scalability of business over time
- Types of products you’re selling
- The tools needed for the platform
- User experience on the platform
#2: Failing to Understand How Traffic Works
Just like any other business, you would rely on traffic for potential customers. Whether it’s a busy intersection or a packed transportation hub, businesses need traffic in to draw attention and hopefully make a sale.
However, traffic in eCommerce and online businesses is not as easy. Because it’s online, your competition is endless. You are competing against businesses in the same industry, even if they are on the other side of the world. That is why understanding and drawing traffic to your online business is crucial to its success and growth.
You can increase your website’s traffic in two ways – organically or inorganically. Inorganic traffic is a paid result. You would have to pay for ads or visibility on the internet. It’s costly. So most businesses turn to organic traffic to draw their audience.
In order to do this, you need to understand a variety of online marketing strategies such as content creation, video marketing, search engine optimization, and so much more.
#3: Not Educating Your Team
eCommerce is more than just online platforms, traffic, leads, and sales. In order to build a secure and solid business foundation, it is important to invest in and develop the people that make up your company.
The burden of understanding eCommerce does not end with the business owner alone. In order to build a successful eCommerce business, it is important for everyone involved to learn even the most basic concepts in the industry. Whether it’s your secretary, sales expert, or newly-hired virtual assistant, it is crucial that they share the same degree of understanding of how eCommerce and your business work.
If you’re looking for help in building your eCommerce business, Sidekicks is an on-demand virtual company that provides virtual assistant services of varying industries and fields. We’re eager to talk you through anything you need to know about hiring a virtual assistant. Get a free ebook and learn more about how we can help you by signing up to our newsletter. If you prefer something more personal, click here for your free 30-minute consultation.