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PTM Assignment Improved

The document provides 9 tips for making an ecommerce business wildly successful. The tips include: 1) Don't rush to launch a website until substantial groundwork is laid; 2) Compensate for the inability to see products firsthand through pricing, shipping, and checkout; 3) Invest in testing and analytics to understand what works and doesn't work; 4) Be personally involved in social media as it gives insight into customers; 5) Include social elements on the website; 6) Build mobile-friendly sites as mobile spending will significantly increase; 7) Stay on top of SEO to stand out from competition; 8) Collect customer information to aid future launches; 9) Continually evolve with changing technology, trends and customer tastes

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Dhabitah Adriana
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131 views

PTM Assignment Improved

The document provides 9 tips for making an ecommerce business wildly successful. The tips include: 1) Don't rush to launch a website until substantial groundwork is laid; 2) Compensate for the inability to see products firsthand through pricing, shipping, and checkout; 3) Invest in testing and analytics to understand what works and doesn't work; 4) Be personally involved in social media as it gives insight into customers; 5) Include social elements on the website; 6) Build mobile-friendly sites as mobile spending will significantly increase; 7) Stay on top of SEO to stand out from competition; 8) Collect customer information to aid future launches; 9) Continually evolve with changing technology, trends and customer tastes

Uploaded by

Dhabitah Adriana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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9 Tips to Make Your Ecommerce Business


Wildly Successful

I n 2015 and for years to come, the ecommerce economy is expected to continue its upward
trajectory and rapid growth. As an entrepreneur, this opportunity for success and sustainability is
exciting, promising and intriguing. Whether you’ve already been involved with the launch of an
ecommerce business in the past or are looking to get involved with your first venture, now is the time to
get your foot in the door. Indeed, from 2010 to 2013, total U.S. retail ecommerce sales increased from
$167.3 billion to $263.3 billion. Last year, that number jumped up to $304.1 billion, and trends suggest
2015 will top off somewhere around $347.3 billion. For perspective, total estimated retail sales in the
U.S. came in around $3.19 trillion for 2014. That means ecommerce sales made up approximately 9.5
percent of total U.S. sales -- and that share is expected to grow.

n However, those numbers pale in comparison to the predictions financial analysts and industry experts
are suggesting for the next three years. In 2016, 2017 and 2018, sources say the total projected U.S.
retail ecommerce sales will come in around $392.5, $440.4, and $491.5 billion, respectively. If those
numbers hold true, that will be more than a 41 percent growth from this year to the end of 2018.

While the ecommerce economy is poised for significant growth in the coming months and years, you can
only expect to see results if you approach it in the right way. That means focusing on the following
critical tips for ecommerce success.

n One of the biggest mistakes unsuccessful ecommerce entrepreneurs make is forcing or rushing the
launch of a website. You only get one shot at launching your website and you can’t mess this up.
While it’s okay to purchase your domain name and throw up some sort of “Coming Soon” page, you
should avoid the big reveal until you’ve laid some substantial ground work (SEO, content marketing,
social media, paid advertising, etc.).

It’s no secret that the biggest shortcoming of ecommerce businesses is the inability to let their
customers touch, feel, smell, and see (firsthand) products before making a decision. While there’s
currently no solution for solving this problem, you can compensate for this deficiency in other areas of
the business. Some of the best tips include offering appropriate pricing, giving free shipping and making
the checkout process easy with simplified shopping carts.

Before, during and after you launch any ecommerce business, you should invest in testing and analytics.
Think like the customer and figure out what’s working, what’s not, and the why behind those answers.
Here’s a look at some of the best A/B testing tools.

Any ecommerce entrepreneur that tells you he outsources social media or delegates it to other team
members is crazy. Social media is the heartbeat of your business, as it gives you an uninterrupted glance
into the lives of your customers. While it’s perfectly fine to have a social-media manager, it’s pertinent
that you’re involved with it, too.
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Going along with the previous tip, it’s a great idea to include social elements on your ecommerce sites.
Things like product reviews and testimonials follow buttons and even social login options all help the
conversion funnel.

Bill Siwicki of Internet Retailer references Goldman Sachs, saying, “Tablets will play an increasingly
important role as worldwide consumer spending via mobile jumps from $204 billion in 2014 to $626
billion in 2018...” If you aren’t building ecommerce businesses with mobile in mind, you may be
irrelevant in three to five years.

As the ecommerce economy experiences rapid growth, more and more businesses will be entering this
increasingly crowded space. That means it will be more important than ever to stay on top of SEO in
order to stand out from the competition. Connecting with a skilled SEO will help you stay competitive in
the long run.

U
nless you plan on launching a single site and stepping away (most entrepreneurs are
tempted to keep trying), it’s critical that you collect customer information and build
databases to aid future launches. Finally, never stop evolving. Technology, trends and
customer tastes will change, and so must you if you want to succeed in such a variable
market. With these nine tips, you can be well on your way to becoming a successful ecommerce-based
entrepreneur.

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