In 2022, the worldwide internet user population was estimated to be 5.3 billion, which translates to 66% of the global population. This large user base is one of the reasons why the eCommerce market reached a valuation of USD 16.6 trillion in the same year.
It’s 2023, and we’d like to believe that by now most B2C businesses, not only have their own websites up and running, but have also mastered the finer nuances of eCommerce business. The pandemic and the consequent lockdown, coerced businesses worldwide to shift their attention online and there has been no turning back for most. Businesses that resisted the change of digital transformation from Toys R Us to Borders eventually lost their market foothold despite their strong offline presence.
But simply setting up a website doesn’t guarantee anything. According to a Forbes article, a whopping 90% of eCommerce businesses fail within the first four months of launch. The implausible attrition rate is the result of the technical challenges faced to successfully launch and run a B2C eCommerce business, combined with a lack of expertise and experienced guidance.
In this post, we explore factors and challenges that can undermine your B2C eCommerce success and ways to combat them.
Imagine you are hosting a party at your brand-new residence but you forget to invite your guests.
A marketing plan and a strong digital eCommerce strategy not only enable you to ‘extend the invitation’, they also comprise of strategic planning, content marketing, design, and advertising.
Taking into account your buyer persona, customer preference, competition, targeted and retargeted ads, and other such specific considerations, will maximize your website’s potential and boost your go-to-market strategy for eCommerce business.
In layman’s terms, search engine optimization (SEO) is you putting your business out there in the big internet world and telling your potential customers "Hey! Do you have a problem? I have the solution!”
SEO will improve brand visibility in organic search results. It enables you to generate quality leads while also considerably impacting the quantity, by bringing the attention of relevant audiences to your brand and website.
"SEO is not just about ranking high in search results. It's about making sure your website is visible to the right people at the right time."
Rand Fishkin, founder of Moz
According to Adobe, 38% of users will stop engaging with a website if the content or the layout is unattractive. Your website is the face of your business online. The look of your website plays a key role in attracting and engaging customers.
More engaged customers mean minimal bounce rate. With the help of relevant content, you can build curiosity, boost customer engagement which eventually results in increased customer acquisition rate.
Building a strong foundation of trust and reliability is more important to thrive online than it is for offline businesses. Research by Baymard Institute states, that more than 17% of customers abandon their carts due to concerns regarding payment security and 18% due to a lack of trust in the website itself.
Building trust among potential customers is a crucial step that requires the expertise of a B2C marketing partner. Steps like securing the website through a valid SSL certificate, and opting for secure payment gateways can clear out initial inhibitions. Prompt customer service, easy returns, and exchange policies can also help overcome trust barriers.
While technologies like iTAD are already in the works to combat the issues of ‘touch and feel’ when it comes to online shopping, there are more than just a few ways to address this issue. Augmented Reality (AR) has helped the eyewear, footwear, real estate, automobile, home decor, and furnishing industries to provide lifelike experiences to their online customers.
Simple solutions like multiple high-resolution images and videos, combined with user reviews and easy return policies, have enabled top eCommerce apparel and accessories websites to overcome the ‘touch and feel’ barrier.
It is a legal requirement in many countries and regions to follow data regulation and compliance practices. Not only does this ensure the protection and integrity of consumer data, but it also helps to build trust and improve brand reputation.
To ensure they are following best data regulation practices, more and more businesses are hiring Data Protection Officers (DPOs). Also, an experienced marketing partner can guide and assist you in creating a data-compliant eCommerce business.
Your inventory may be well-stocked, but if your Purchase Order Lead Times (POLTs) are significantly higher than your competitors, it could create a negative bias among customers.
According to MetaPack, 96% of consumers say that delivery is an important factor in their online shopping experience. 48% of customers abandon their cart because of additional costs like shipping, taxes, and fees, according to a Forbes article.
With the help of strong logistics partners, prompt customer services, and most importantly, reasonable to non-existent shipping costs, you can boost customer retention and acquisition rates.
The number one reason people shop online is free delivery.
Oberlo
Creating a frictionless and easy-to-navigate experience for your customer must always be a priority. It is important to streamline the purchasing processes- from browsing to checkout, by ensuring website speed and responsiveness, providing clear and concise product information, offering multiple and secure payment options, and ensuring hassle-free returns.
A seamless user experience with the help of an efficient eCommerce CMS platform, can have a tremendous impact on customer satisfaction, brand reputation, as well as organic brand promotions.
As a business, you do not want to seem aloof and disinterested in your customers. An experienced marketing partner such as ewiz commerce knows that this is a prerequisite.
With the help of Artificial Intelligence (AI) and Intuitive Technology, you can create a frictionless and omnichannel experience for your customers that intrigues and improves customer engagement and satisfaction rates.
In the eyes of customers, old-line companies don’t listen; they advertise. They don’t adjust themselves to our needs; they try to sell us what they’ve got. They aren’t flexible, because they have strict policies to ensure consistency and efficiency—and deadening, impersonal aloofness.
‘The Human Brand’
B2C eCommerce platforms have also revolutionized the way entrepreneurs run their businesses. eCommerce has empowered businesses to take control of their operations and streamline processes without having to rely on multiple external providers. By understanding the common pitfalls and taking the necessary steps to avoid them, businesses can set themselves up for success.
With the right tools, strategies, and an agile mindset, entrepreneurs, and most importantly a reliable marketing partner, you can unlock the true potential of your eCommerce ventures and achieve long-term growth and profitability.
If you are interested in exploring the unlimited opportunities of the eCommerce world, ewiz commerce is just a call away.
Factors that can sabotage your B2C eCommerce business
