As you already know, competition on the eCommerce landscape is ferocious and non-stop. Keeping and increasing your marketshare is tough enough without some unforced errors entering the picture that, if left unchecked, will slow down your growth — and eventually kill your eCommerce operation. Here’s a rundown of five of the biggest self-induced risks and threats:
1. Your site isn’t extremely secure
A decade or so ago, it was enough for an eCommerce site to be secure. Those times are over. On today’s vastly more dangerous and complex threat landscape, your site must be extremely secure. That means locking things down on multiple levels, and demanding robust enterprise-grade security from any third party vendors as well, including web hosts, IT support, consultants, and so on.
2. Poor site navigation and UX
Poor site navigation and UX reduces time-on-site, lowers average purchase amounts, and sends many customers straight to the competition. Running tests to see where tuning out and taking off can help you create an impressive, omnichannel experience that drives engagement — and boost sales.
3. Not having the right eCommerce fulfillment partner
The right eCommerce fulfillment partner is one that uses technology to give you total real-time visibility of your inventory ecosystem, and liberates you to focus on running your business vs. getting bogged down with technical details. If you’re spending your time racing to get orders out on time and manually check stock levels, then it’s past time to partner with a better eCommerce fulfillment company.
4. Not having the right shopping cart
All eCommerce shopping carts are basically the same, right? Wrong! The right one for you fits your needs, including features, integrations, scalability, customization, and of course, total cost of ownership (not just up front fees).
5. Having generic product descriptions.
No, your customers don’t want to venture on a literary journey if (for example) they need to buy an air filter for their car, a gift for their spouse, or a software tool for their job. But this doesn’t mean you should impose generic, boring, unmemorable product descriptions. Remember, your site isn’t a vending machine. It’s a commercial conversation. Make sure you do your part by highlighting benefits, options (colors, sizes, configurations, etc.), and so on.
The Bottom Line
The eCommerce market is surging, and according to eMarketer, global sales will exceed $27 trillion by the year 2020. Following the tips laid out above will go a long way towards ensuring that you enjoy your profitable piece of this gigantic — and growing — pie.