With each passing year, eCommerce is further cementing its status as consumers’ preferred way of shopping. The number of new and existing sites committing the bulk of their marketing efforts on online retail has increased dramatically, and due to this growing competition, eCommerce marketing optimization is more essential than perhaps it ever has been.
Yet, despite the development of so many online retailers, a number of misconceptions continue to persist. Let’s review some of the most egregious myths that may be holding you back from realizing your site’s true potential and uncover the facts you need to truly leverage the possibilities of the eCommerce space.
Myth #1: Offer high-quality products online, and customers will come.
Don’t let Field of Dreams fool you. When it comes to an eCommerce site, you cannot simply build it and expect customers to come in droves to purchase your product. The quality of your product and the need it fulfills are absolutely key elements of finding a target audience, but there’s far more involved than just that, especially in the case of an eCommerce business. Whereas brick-and-mortar retailers can in part rely on prospects who may just wander in, your site has no such luxury. Instead, your focus needs to be on spreading awareness through a sound marketing strategy and a genuine sense of trust with customers. Then the engaging content and impressive products on your site can do the rest.
Myth #2: Purchase decisions hinge entirely on pricing.
We’re not going to lie. If you have ridiculously high-priced products, there’s a good chance that most customers will be turned off (though even that can be overcome depending on how you market your product). The good news, however, is that pricing is not the sole deciding factor in locking down a purchase. Often, incentives like free shipping as well as the actual product quality can sway consumers to give your product a chance. When you approach online marketing the right way, you can build a strong relationship with customers through social media and a personalized user experience. This will give them the boost they need to choose your product over your competitors’. Moreover, pricing your items too low only devalues them and attracts customers who have little intention of establishing long-term brand loyalty.
Myth #3: An omnichannel approach isn’t necessary.
You might think that — despite all the evidence to the contrary — developing an omnichannel marketing approach is an unnecessary indulgence for your business. However, we highly encourage you to opt for a unified user experience that connects your desktop site with a mobile version, a mobile application and other formats. This creates the kind of seamless experience that today’s users not only prefer but expect in the companies where they choose to spend their hard-earned money. Keeping your customers engaged throughout should be paramount for any business, but when it comes to eCommerce, it’s all too easy for your site to get lost in the shuffle. Defend your customer base by investing in a connection that will only further develop over the coming years.
Myth #4: Revenue is always the bottom line of your business.
Remaining competitive in today’s eCommerce landscape requires a far deeper dive than years past. Whereas revenue may have been the most significant metric in any sales-driven business, nowadays it’s simply part of a much larger picture. Other key performance indicators and analytics can actually give you a better sense of what’s working and what’s not. Exactly which ones apply most closely to your business will depend on your niche, but the conversion rate is a good place to start. Also, implement ongoing testing with your marketing initiatives and site design to see what you can improve upon. Essentially every bit of data is trackable within eCommerce. So make certain you’re using it the best way you can to develop a sharper understanding of your customers.
Myth #5: Everything must be perfect before launch.
Even if you’re tempted to delay the launch of your eCommerce site until everything is perfect, we cannot stress enough how wrong-headed this notion actually is. Sure, you may wish for everything to be pristine, but perfection isn’t a road to success, it’s a gateway into procrastination. Instead, do what you can to get into business as soon as possible. After all, you can always tweak and fine-tune your approach over time. You need feedback to fuel any tangible improvement. So why not simply get your site up and running now so that you can begin the process of fixing everything that doesn’t work exactly how you had hoped? You’ll never be able to plan for or anticipate every obstacle anyway.
Don’t Myth Out
No matter how well established your eCommerce business is, the fact remains that there is always room for improvement. The industry itself is constantly evolving, with new trends and technology keeping sites like yours on their toes. Considering everything that is at stake, you cannot afford to cling to myths regarding how you can best connect to your prospective customer base.
Even if you currently find yourself busier than ever, be sure to take the time to re-evaluate your marketing efforts. Chances are, some aspects can probably be adjusted a bit and result in infinitely more successful results in the long run.