6 Known Traits Of a Successful E-Commerce Business In 2023
Learn from the masters and cracks the code to festive season sales success with Fynd Platform's Festive Readiness Guide
The factors contributing to an eCommerce business's success are not rocket science. You may have heard of them before, but it is interesting to note that many business firms take these traits for granted and get them wrong. To help you get more out of your online business, we have identified six traits of a successful eCommerce business in 2023.
1. Tones of social proof
Are you aware that 93.4% of customers rely on customer reviews when dealing with retailers not familiar with them? Social proof is powerful. When new customers think of doing transactions with a new business, they want to hear from people who are already existing customers.
Social proof is highly influential for a new business as it leaves everlasting footprints of a brand-customer interaction on the web that millions of customers can read.
Social proof is a natural way to build brand trust, grab customer attention, share independent views on the business, and give a strong thought process to prospective customers that are too confused to make a decision.
Types of social proof: User Testimonials, Key Opinion Leaders (KOL) endorsements, social media proof, and trust badges.
2. Super smooth delivery and returns
Delivery and returns are a huge part of an eCommerce business. 79% of people are more likely to shop online with free shipping, and 60% of customers will abandon their cart if shipping is too high.
It is always advisable to offer free shipping wherever possible to negate cart abandonment and increase conversions. If you cannot afford 100% free delivery, you can provide promo codes to attract and convert more customers.
Another research from Barclaycard shows that free returns have become the 'new' normal. They found a fifth of consumers will only shop at retailers that offer free returns.
Therefore, eCommerce businesses must ensure that the return policy does not discourage potential purchasers from placing an order and offer free returns wherever possible.
3. Quick and easy checkout process
18% of online shoppers abandon a purchase due to the checkout process being too long or complicated. A checkout procedure should be as simple as possible. If the product page has convinced a buyer to add to the cart, it must guide them seamlessly through the checkout to conversion.
Also, it has to be ensured that the eCommerce site always displays progress bars during the ordering phase and that the required checkout steps are kept to a bare minimum.
You can use guest checkout, offer social sign-in, clear Calls to Action (CTAs), flexible payment methods, and highlight security & trust signals to speed up the checkout process.
4. Provide a great mobile user experience
Are you aware that mobile users are 5x more likely to abandon a task if the site is not optimized for mobile? To figure out what an excellent mobile experience looks like, we need to see how it works.
A good mobile experience should look good, run smoothly, and have everything in the right place. You have to make sure that the first impression is good, and your customers are less likely to trust your brand if it looks terrible.
Here are some of the essential elements of a good mobile UX design:
- Useful: It must fulfil the customer’s needs and requirements.
- Usable: Its features must be effortless to use.
- Credible: Users must trust your brand and its products.
- Desirable: It must evoke positive emotions & appreciation.
- Findable: An easy navigation should help users find important information quickly.
- Accessible: Disabled & non-disabled users get the same user experience.
5. Offers great flexibility in payments
Providing flexible payment options is about appealing to the broadest range of customer preferences and ensuring that customers do not leave their eCommerce site due to the unavailability of a preferred payment method.
As credit & debit card use is expected to decline in coming years, successful eCommerce stores need to update themselves with new payment methods like Buy Now Pay Later, cryptocurrency, digital wallets, bank transfers, prepaid cards and a lot more. Take a look here at some of the most popular online payment methods.
6. Provides excellent customer service
Here are some of the tips to provide excellent eCommerce customer service.
- Listen to the customer: Actively listening to the customer, showing empathy, and reflecting on a customer's feelings will help you turn the conversation in the right direction.
- Improve customer interactions: Although a team has good skills in communicating with customers, they must also relate to them. They should try to find mutual interests with the customer, which can help your team understand the conflict & humanize the connection between the customer and staff.
- Be available anytime: If your customers are from different time zones, you should be available at their preferred time.
- Ask for feedback: If you genuinely want to provide the most satisfactory customer service, feedback would help understand what your consumers think about your brand, business, products, and services.
The wisest business entrepreneurs have explored the road to success for eCommerce businesses many times. Any business can achieve these qualities as long as there is a conscious, dedicated & consistent effort to improve.
Now that you know the winning traits of an eCommerce business in 2023. Let's take your eCommerce business to the next level with Fynd Platform. We help you get a sales-ready eCommerce website in less than 30 minutes. Get it today! Click here to Book a demo right now!
Learn from the masters and cracks the code to festive season sales success with Fynd Platform's Festive Readiness Guide
What is the most important factor for a successful e-commerce business in 2023?
1. User Experience: A seamless and user-friendly experience across all platforms (desktop, mobile, etc.) is crucial for customer satisfaction and retention.
2. Personalization: Tailoring product recommendations, advertisements, and customer communication to individual preferences can increase customer loyalty.
3. Payment Options: Offering multiple and secure payment options to customers can improve the likelihood of a sale and customer trust.
4. Delivery and Logistics: Fast and reliable delivery options, along with efficient order fulfilment, can greatly improve customer experience and satisfaction.
5. Mobile Optimization: A mobile-responsive website and optimized shopping experience can accommodate the growing number of customers who prefer to shop on mobile.
6. Product Quality and Variety: Offering a wide range of high-quality products can attract and retain customers.
7. Customer Service: Providing fast, effective, and personalized customer service can improve customer experience and loyalty.
8. Data Analytics: Collecting and analyzing data on customer behaviour and preferences can inform business decisions and improve customer targeting and personalization.
9. Marketing Strategy: A well-planned and executed marketing strategy can effectively reach and convert target customers.
10. Branding: Developing a strong and consistent brand image can improve customer recognition and loyalty.
How can I make my e-commerce website mobile responsive?
To make your e-commerce website mobile responsive, you can:
1. Use a responsive website design framework such as Bootstrap.
2. Use CSS media queries to change the styles based on screen size.
3. Optimize images and other media to reduce load times on mobile devices.
4. Use a mobile-first approach to prioritize the content that's most important to mobile users.
5. Test the website on various devices to ensure it looks good and works well on all screens.
The Fynd Platform provides features and templates to build mobile-responsive websites, such as:
1. Responsive design templates that automatically adjust to the screen size of the device.
2. A mobile-first approach to website design.
3. Mobile-specific features like touch and swipe functionality.
4. Testing tools to check the mobile responsiveness of the site.
5. By using these features, a website built on the Fynd Platform can ensure a smooth and optimized user experience for visitors accessing the site on mobile devices.
How can I personalise the shopping experience for my customers?
Personalizing the shopping experience can help build customer loyalty and increase sales for your e-commerce business. Here are some ways to personalize the shopping experience:
1. Recommendation engine: Use data such as purchase history, browsing behaviour and customer preferences to make personalized product recommendations.
2. Personalized product searches: Allow customers to search for products based on specific criteria, such as price range, brand, and product features.
3. Customer accounts: Encourage customers to create accounts so that you can store their personal information and preferences, and use it to provide a more personalized shopping experience.
4. Customised product pages: Display product information and recommendations based on the customer's location, past purchases and browsing history.
5. Personalised promotions: Offer customers personalized promotions based on their past purchases and interests.
6. Customer service: Provide a personal touch by offering personalised customer service. Respond to customer inquiries on time and offer tailored support based on their needs.
What is the best way to ensure fast shipping for my e-commerce business?
Fast shipping is crucial for the success of an e-commerce business as it directly impacts customer satisfaction. Here are some ways to ensure fast shipping for your e-commerce business:
1. Partner with reliable shipping carriers: Choose shipping carriers that have a proven track record of delivering packages on time and invest in shipping methods that offer fast delivery options.
2. Location of warehouse: The closer your warehouse is to your customers, the faster your shipping times will be. Consider opening multiple warehouses in different regions to reduce shipping times.
3. Order processing: Streamline your order processing systems to ensure that orders are shipped out as soon as they are received. Automating certain processes can help to speed up the process.
4. Inventory management: Maintaining adequate stock levels of your best-selling products can help ensure that you have what you need to fill orders quickly.
5. Real-time tracking: Provide customers with real-time tracking information so they can follow the progress of their orders and plan accordingly.
How can I make sure my e-commerce website is secure for my customers?
Security is a crucial factor for building trust with customers and ensuring the success of an e-commerce website. Here are some ways to ensure the security of your e-commerce website:
1. SSL Certificates: Install an SSL certificate to encrypt sensitive information, such as payment details, that is transmitted between your website and your customers.
2. Strong passwords: Require strong passwords for customer and admin accounts and regularly update them.
3. Regular software updates: Keep your website software and plugins up to date to patch any known security vulnerabilities.
4. Firewall protection: Implement a firewall to prevent unauthorized access to your website and protect against malicious attacks.
5. PCI Compliance: Adhere to Payment Card Industry (PCI) standards to ensure the secure handling of the credit card information.
6. Regular backups: Regularly back up your website data to ensure that you can recover from any data loss due to a security breach.
7. Monitoring and logging: Regularly monitor and log website activity to detect any suspicious behaviour and respond quickly to potential security threats.
How do I make sure my website is user-friendly for customers?
To make your website user-friendly, consider the following factors:
1. Navigation: Ensure that the navigation is clear, intuitive and easy to use. Use categories and subcategories to organize products and make it easy for customers to find what they're looking for.
2. Design: Use a clean and attractive design that is visually appealing and easy to read. Consider using a responsive design that adjusts to different screen sizes.
3. Load time: Make sure that the website loads quickly. Slow-loading websites can result in a high bounce rate and negatively impact the user experience.
4. Mobile responsiveness: Ensure that the website is optimized for viewing on mobile devices. A large portion of online traffic comes from mobile devices, so having a mobile-responsive website is crucial.
5. Search functionality: Provide a search bar that is easy to find and use. This can help customers quickly find the products they're looking for.
6. Product information: Provide detailed product information, including descriptions, images, and specifications. This can help customers make informed purchasing decisions.
7. User feedback: Encourage user feedback and respond promptly to customer inquiries and complaints. This can help improve the overall user experience and build customer trust.