e-Commerce is one of the hottest buzzwords in the market today: since there are so many players and competitors, it has largely become a rat-race. From its inception to the present day, the rules of the e-Commerce game continue to change. There are a lot of smart strategies involved today and there are a lot of companies that are using these strategies for their benefits.
Despite this heavy market saturation, there are a lot of factors in the e-Commerce sector that are knowingly or unknowingly overlooked among the positives of e-commerce. E-Commerce start-ups face a lot of challenges, so it is vital that these facts are known so new companies will be able to create a workaround for these common issues.
Commonly Faced e-Commerce challenges
Let us take a look at a comprehensive list of challenges that many new e-Commerce businesses face:
- What do you want to sell?
This is perhaps the most important question and the first thing that comes to mind when starting a new company. The questions that need to be focused on include:
- What is it that will connect to the masses?
- What are the products that have been seemingly untouched by the growing e-Commerce market?
- What are some companies doing wrong that you can do right?
- What is going to set your company apart from others that are selling a similar product?
A great deal of thought needs to be put into these questions to start a successful online business.
- Getting the customers in
Fast forward a little: you have a website set up for your business and you are live. However, people don’t know about it. If you are just sitting there idling your time away hoping that someone stumbles upon your website by chance, we’ve got bad news for you: you won’t be getting any traffic.
Attracting the right set of customers is an art, and this is something that hugely successful companies have perfected. All the factors of your target demographic need to be taken into account without disturbing your existing budget requirements.
- Getting the traffic
There is a lot of scope for improving your digital marketing strategies, as they continually change over time. It would be foolish to think that fresh e-Commerce businesses would be able to attract traffic with just one method alone.
That kind of thinking would be the death of your business, in a literal sense. Experiment on getting high traffic! This should include steps like SEO, email marketing, mobile marketing, PPC, and social media presence.
- Choosing the right technology
e-Commerce companies need to be in sync with the technology of today. Staying up-to-date and employing the latest merchant processing shopping cart solutions, managing the inventory, getting email software for connecting with the clients, and tracking analytics to see how the business is operating are just a few of the technique that your competitors will be using.
- Accepting Credit Cards
Here’s the last step: you have the website set up and you have some inventory. However, you don’t have a merchant processing service behind your business. An online business that doesn’t accept credit cards – in our opinion – isn’t really an online business at all. There should be no restriction on what type of card they can and cannot use.
Companies need to have a merchant account setup and a payment gateway for receiving payments into the Company account. All the additional fees and other points need to be taken into consideration by them.
There are a lot of e-commerce business challenges that cause issues with companies who are starting to explore the field. The points can help many businesses to resolve problems and plan a suitable workaround for the same. We recommend choosing a product to sell, then do it better than everybody else. After that, you need to acquire customers, then keep them loyal by utilizing the best marketing practices, client acquisition methods, and technology available. With the right merchant processing services, marketing campaigns, email software, and online presence, you can turn your start-up e-Commerce business into a thriving revenue stream.