2017-03-29 00:00:00 Running a Business English Take note of these three stumbling blocks that e-commerce businesses face, and learn how to overcome them. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/06/Small-E-Commerce-Business-Owner-Reviews-Her-Online-Orders.jpg https://quickbooks.intuit.com/ca/resources/business/3-biggest-stumbling-blocks-ecommerce/ 3 Biggest Stumbling Blocks for E-commerce Businesses

How to Start An Online Retail Business Successfully

3 Biggest Stumbling Blocks for E-commerce Businesses

Even in the modern technology-driven corporate space, your e-commerce business may still face a wide range of problems. Issues lying in the path of your company’s success can run the gamut from minor inconveniences to serious, profit-hindering malfunctions or interruptions to daily operations. There are a number of obstacles that commonly cause the most headaches for an e-commerce business. It’s important for you to know how to resolve or avoid them.

Mobile Connectivity

Consumers expect to be able to connect to your business anywhere, at any time, with any device, including tablets and smartphones. Failing to adequately serve the travelling or “mobile consumer” can be a major stumbling block for your e-commerce business. These customers are incredibly shrewd and fully immersed in the tech world and expect consistent mobile connectivity, as well as competitive prices and multiple, flexible options for the delivery of their purchases. This means it’s very important that your business website be exceptionally mobile friendly, operating quickly and efficiently on mobile devices without crashing. Because mobile device screens are generally smaller, this also means your website design needs to be easy to navigate with clear markings and a simple, vibrant color scheme.

Quality Content

The dynamics of, and quality threshold for, your business and your products continue to change and develop as the nature of e-commerce continues to evolve. Social media giants like Facebook, Twitter, and even Instagram are perfect platforms to help you create, share, and profit from quality content surrounding your products. The millennial population, which is arguably becoming the largest age group worldwide and has ever more control over the consumer world, overwhelmingly runs the social media show and has the power to expand your company’s audience and connect you to an endless stream of contacts. Millennials are overwhelmingly interested in buying from companies that have a strong core value and message that lines up with their own. Make sure the content you regularly post speaks to your company’s foundational values. This is your opportunity to tell new and potential customers what your business is all about. Consider writing a blog on your company website. When you’re working on a new product, or are excited about new developments or policy changes within your company, share that excitement with your potential customers on social media. Publishing videos is another great option. You may want to take customers on a tour of your company, or make a video answering frequently asked questions. The possibilities are truly endless.

Personalized Experience

Big box stores and franchises, due to their size, sell massive amounts of goods, but while prices are generally cheaper, there is usually a lack of personalization for customers. Your e-commerce business, especially if it’s smaller, has a great opportunity to tailor customers’ experiences to their unique wants, needs, and likes. To make customers’ experiences unique to them, you want to take the time to learn more about each customer. To this end, it may be a good idea to have staff members devoted to collecting specific pieces of information, such as birthdays, favorite products, and regular time of day to shop, and use this to shape the way you approach, interact with, and market to these clients. Ultimately, your customers feel appreciated, understood, and cared for, and this encourages them to continue coming back to your business. There are a number of common stumbling blocks that your e-commerce business may encounter as your company grows and develops. Finding good solutions for dealing with them can turn obstacles into opportunities for more profits.

References & Resources

Chapter 10.
How to Sell to Online Marketplaces 2 min read
Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.