A profitable e-commerce business focuses on these five areas

A profitable e-commerce business focuses on these five areas

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  • Tags
  • E-commerce website
  • Online store
  • Outsourcing service

Running an online business is easy nowadays, but turning it into a profitable business is very hard. You can not expect your business to generate revenue and become profitable automatically. It requires deep thinking and strategies from you. 

 

Key takeaway

Each profitable e-commerce business has these five things done correctly;

  1.  Beautiful website
  2.  Correct pricing
  3.  Marketing strategy
  4.  Customer support
  5.  Delivery channel

You can not grow your business If it has problems in any area.

I am assuming you have demanding products to sell online. Maybe you can start with your digital or physical products. All online business has a basic workflow. 

 

Trustworthy beautiful website 

Your website is the first thing users see before making any purchase. When your website looks ugly, and you did not give any attention to its design, the user will not make any purchase.

Website development is a hard task, and you should invest your time before finalizing it.

Although, if you are a small business owner, you can use any existing e-commerce platform. I have written about the three best e-commerce platforms on this blog. 

Each e-commerce website supports the following features - at least;

  1.  Product management.
  2.  Order management.
  3.  Payment gateway integration.
  4.  Inventory and stock management.
  5.  Marketing tools - email newsletter, wishlist update, and promotions.
  6.  Customer management.

Please make sure your platform or your website has these features. These help you manage your business efficiently.

My team and I have extensive experience building e-commerce websites, and you can hire our expertise.

 

Competent pricing

Do your customers buy higher price items or lower price items? The answer helps you understand what pricing is best suited for your business.

Pricing the product is a bigger question in any business. The wrong price may break your entire business.

You not only need to consider the cost of the acquiring product, taxes, delivery, shipping, and storage, but also need to consider your competitors’ pricing.

If you do not have any competitive advantage over pricing, your customers will not buy from you. I will write more about the pricing strategies in an upcoming blog and link it here.

 

Evolving marketing strategy

You can not grow or sustain your business without a marketing plan. You may have everything: a demanding product, the best website, reliable shipping partners, and a great customer support team.

But if you do not have a marketing strategy, you will fail surely.

Each business requires different marketing tactics. You know better about your business customers. And therefore you should invest your time developing it.

If you do not understand your customers, you already failed your business.  

Marketing is an ongoing activity, and you need to change it regularly based on customers and market feedback.

 

Best customer support team

It is said that the customer support team is your second sales team. You can not ignore it by any chance. 

If you need to increase sales or customer retention, you may invest your time and energy in building a great support team.

It starts with writing a good FAQ page, blogs about the ongoing changes, live chat, or direct contact. I should point out that I hate automatic voice systems when I call customer support. I always want to see a human helping me.

Customer support is the only place where you can create a long-lasting impression. If your customer finds a problem and your support team helps him, you have won his heart. He will make all future purchases from you.

I will add my critical experience here. You should hire experienced people in customer support. The customer asks many questions - sometimes that are deep, and a fresh mind can not cope instantly. Your experience people handle them gracefully.

 

Reliable delivery channel

You want to build a long-term relationship with your customers. If your customer always buys a product from the local store, you do not worry about it. You know each other.

But if an unknown customer buys from you through the online store, you should take special precautions.

  1.  The product reaches on time.
  2.  A good product packaging.  

And that is why you need a shipping partner that understands you and your business. 

There is not a single path to finding a reliable shipping partner. But you can ask some existing e-commerce owners for their shipping partners and get feedback.

Overall, you know now that creating a profitable online store is not a piece of cake. You invest a lot of effort and mental energy to transform it. But it is worth trying. 

It requires different software tools. You can find some premade tools from other vendors. And if you need a custom software tool, you can hire our software outsourcing service from here.