7 Key Factors To Consider For Measuring E-Commerce Success

E-commerce business has hit the plateau of success today. The e-commerce business kept on rising due to the huge number of online shoppers globally. This has also increased the competition among various e-commerce development companies. They do a lot of work on their marketing strategies to achieve e-commerce success.

Do You Know?

• It has been predicted that by 2040, 95% of all purchases will be made through eCommerce.
• 55% of online shoppers tell colleagues and family when disappointed with a product or company service.
• Worldwide, 57% of online shoppers purchase from retailers who are overseas.

Source: Wpforms

Well, if you want your e-commerce business proliferates, then you should filter out what will work for your long-term e-commerce business success.

Measure E-commerce Success To Acquire Beneficial Outcome

In this blog, we have discussed some key factors to measure your e-commerce success. These factors would give a real insight into your e-commerce business at each stage of its growth.

1. More personalized buying experience

Personalized customer experience can boost your e-commerce business multiple times. As per the stats, 64% of consumers today want a customized buying experience and expect that you will predict their next step. In this way, you will adapt to their experience according to your predictions.

72% of buyers stated they only engage with personalized messaging.

Localization is the best way to start the personalization experience. In fact, it is the most significant factor to satisfy the growing expectations of today’s consumers. You can even prove more e-commerce success if you are selling products globally.

So, it becomes necessary for e-commerce development companies to know their customers’ behavior and adapt the experience viz. prices, descriptions, and offerings to their location. This would help companies to achieve e-commerce success for them.

2. Keep an eye on social media trends

Social media helps in increasing the online visibility of any business. It equally plays a vital role in e-commerce success. According to the research, it is expected that approx. 2.5 million people will be using a single or other social media platform in 2020 for their e-commerce success.

The reason behind it is that businesses today know the crucial requirement of social media platforms for their e-commerce success. Social media popularity keeps on rising day by day. Approx. 80% of online campaigns are already running.

85% of orders are placed from social media sites come from Facebook.

The attention span of users is getting shorter and shorter, and e-commerce companies must be sure they capture people’s interest quickly. Smart insights have also presented the best social media strategies that will increase this year. From chatbots to augmented reality, there is a lot to look forward to for e-commerce success.

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3. Display of the products you sell

The display of the products you sell can be either simple and focused or broad and complex. In both cases, the navigation should be easy, and the data should be up-to-date at all times. It is because of the massive global e-commerce sales, especially for mobile shoppers.

Statista stated that E-retail revenues are projected to grow to $6.54 trillion in 2022.

Source: Statista

So it is a must for all e-commerce companies to know the right approach better to achieve e-commerce success. For this, you need to ask the following questions to yourself:

– How many products are you selling currently?

– How much information are you required to provide to your customers?

– In which way do you want to display the product catalog?

– How long will it take to make changes to a product price or description?

– How do you want your e-commerce site to browse as a shopper or as a gauge.

Related Blog: 7 Reasons Why Should Startups Switch To Magento eCommerce Platform

4. Multiple payment options

When it comes to e-commerce business, online payment plays a crucial role in e-commerce success. However, online payments may vary from locally to globally. Some countries prefer to use credit cards for online payments, while some others prefer digital payment systems like PayPal.

Currently, buyers have access to various forms of payment systems, such as traditional credit, Apple Pay, and debit cards, or fast-growing transfer systems such as Zelle and Venmo, in order to make purchases throughout the day. Ensuring that you have multiple payment options available would surely satisfy your customers.

Hence, multiple payments options are an excellent key to your e-commerce success.

THE NUMBER OF DIGITAL Buyers Forecasted TO REACH 2.05 BILLION and 2.14 BILLION in 2020 and BY 2021, respectively.

Want to integrate multiple payment gateways in your online store? Connect with an eCommerce development company.

5. Easy checkout process

For e-commerce success, there should be an easy and fast checkout process for shoppers. Modern e-commerce payment should allow buyers to buy quickly and directly from the page of their product, without having to redirect them to another site or landing page.

With a cart abandonment rate of 75.6% on average, it is crucial now that you address this pivotal moment of truth during the payment checkout process to facilitate the purchase decision, also click on the Buy button. If there are fees by surprise, or the process is too messy and moves your client away from your site, it is proven that you are very likely to lose it.

6. Effective content strategy

Content marketing is one of the most decisive factors to consider while measuring your e-commerce success. Through this, you can engage and retain your customers to your e-commerce store.

It is already proven that new marketing trends require quality content to attract maximum users. From videos to ads to broadcasts, it is the content which can take your business to new levels of e-commerce success.

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Personalized content that is attractive and easy to identify helps visitors get to your e-commerce site. It is believed that content marketing amplifies six times your conversion rates, so you may want to consider spending more time with your content strategies, among other things, to achieve e-commerce success.

7. Design of the store

In addition to the various unique features, the only thing that draws the attention of a client and brings it back is definitely the UX, user interface, and the design of your e-commerce site.

But always keep in mind that not everyone uses the same type of device while they buy. With more people using mobile devices; it is crucial that a site responds, changing according to the size and resolution of the screen used. So it should be device compatible too.

38% of users stop engaging with a website if the content or design is unattractive.

Making use of the small animations, right colors, illustrations, and unique scroll functions can make a massive difference to your e-commerce success. In addition, there are many templates available, such as TemplateMonster, which offer a variety of themes to enhance your e-commerce store.

Also Read: A Comprehensive Guide To Create An Ecommerce App From Scratch

Conclusion

So far, we have seen the various factors that must be considered while measuring e-commerce success. This is because the e-commerce market is prime today. To fight the intense competition, you need to start your e-commerce business in a scalable and profitable way.

Therefore, you need the above-listed factors to analyze your e-commerce success. So are you looking for the next level of growth for your e-commerce business in 2020?

We at ValueCoders are at your disposal. Our e-commerce developers are proficient in delivering high-quality e-commerce development solutions. So you can hire Magento developers, Shopify developers, and more in order to get e-commerce success soon.