The pandemic saw unprecedented growth in the e-commerce industry as people started shopping online to avoid the virus. The situation surprised many small businesses since they relied on in-store sales for their revenues. While many businesses closed, others started building their online presence to connect with their market.
After the situation improved, some businesses that closed started to reopen. And they also started planning to open online stores to reach out to their customers. But these businesses should avoid some mistakes that will affect their revenues when they enter the online marketplace. Here are the mistakes that these businesses should avoid.
Overlooking Market Research
Businesses looking to connect with customers online should research the market before launching their online stores. Market research gives businesses information about their potential target markets and how they can connect with them.
Understanding the market also allows them to know the best product they can offer on their online store. It also facilitates their digital marketing efforts to ensure they are cost-effective. The market research also facilitates the identification of their competitors and projects their share of the market once they start offering their products online.
So, businesses should always research the market before offering their products and services online to increase their chances of succeeding.
Failing to Identify the Target Market
When businesses enter the e-commerce landscape, they should also have an idea about their target audience in the market. It’s challenging and costly to sell products and services to an audience that does not need them.
To avoid this situation, businesses should identify their target market. This allows them to understand the needs and wants of their market. Understanding these needs and wants allows businesses to fine-tune their digital marketing strategy so that they can connect with their market.
To facilitate this, businesses should implement different market segmentation strategies to identify a specific target market. The strategies involve categorizing the market according to demographic, psychographic, geographic, and behavioral segments. This will make it easy to identify a specific segment in the market that the business should offer its products and services.
Using the Wrong E-commerce Platform
An e-commerce platform is the foundation of the online store of a business. These platforms offer different features that allow businesses to increase their revenue. Businesses can use several e-commerce platforms to create their online store, including Shopify and Weebly.
Businesses should check each platform and decide which one provides all the features they need for their store. Some platforms offer basic features, but they do not have an option that allows businesses to upgrade. On the other hand, other platforms have a lot of features but are costly to maintain due to some hidden fees when using these features.
Businesses should weigh the advantages and disadvantages of using each platform. They should make sure it’s cost-effective to use the platform before committing to using it. They should also take note that it’s not easy to migrate to a different platform if they are not satisfied with the one they are using for their online store.
So, businesses should be diligent when researching the different e-commerce platforms to allow them to choose one that’s cost-effective and suitable for their needs.
Ignoring Website Security
When the pandemic started, the authorities noted a rise in cyberattacks in different parts of the world. While these cyberattacks focused on individual users, some cybercriminals targeted small businesses that did not invest in security for their websites.
Businesses should be concerned about online security to protect their e-commerce websites from cybercriminals. This is particularly true if the website accepts online payments from customers. Once cybercriminals have access to the website, they can steal information stored on the website.
Even if the website does not store financial information, cybercriminals can steal the private information of customers. And in these instances, the business will have to deal with penalties and lawsuits that will affect their finances. So, businesses should ensure their online stores have proper protection against cybercriminals.
Using Low-quality Images
After businesses already know their target markets and the products they want to sell online, they should upload images of the products into their online stores. But businesses should use high-resolution images of the products. These images should also look appealing so that they can entice their market to buy them.
Businesses should also avoid using stock images that come from their suppliers. Instead, they should take their pictures and make sure to use the highest resolution available on their cameras. High-resolution images will make the products stand out and attract the attention of potential buyers.
Entering the e-commerce industry is essential for businesses to increase their sales in the middle of a pandemic.
