If you have taken the time to come up with a solid marketing plan for hot products or services for your online store only to realize that the sales are not flowing in as you had expected, you are indeed not alone.
Like any regular marketplace, the online selling space has its peculiarities and challenges such as stiff competition and visibility which can impact your sales. Other problems you are likely to encounter when running your online store may include:
- Insecure payment gateways- if your payment options appear not to be secure, prospective customers are likely to abandon the cart.
- Improper logistics- online stores from first world countries rarely experience this problem as they have well developed logistical systems. Not all places on the globe have proper logistics so seamless shipping can be a problem as in-house solutions are too expensive.
- Customer loyalty – it might be cheaper and more profitable to work towards retaining loyal customers as opposed to making new ones all the time.
Partner with trusted and secure payment gateways
A big part of increasing your conversion rate is making sure that the e-commerce platform your online store is on prioritizes secure payment gateways. Or at the very least lets prospective clients choose a payment option that they are most comfortable and familiar with.
Two out of three prospects tend to abandon cart for varied reasons most of which amounts to lack of confidence when it comes to payment.
Shopify, for instance, has more than 100 payment gateway options including Paypal and Stripe. However, it does charge a transaction fee for all payment gateways except its in-house payment option. This is not a big price to pay if most of your prospects are converting to sales.
Some common issues such as shipping can be easily solved by building your online store on an e-commerce platform that is partnered with global courier companies such as FedEx, USP, UPS, and DHL. These are e-commerce platforms such as Shopify, BigCommerce, and Weebly.
You do not have to source for your in-house shipping option which can be prohibitively expensive.
More importantly, when your customers see who handles your shipping, they have confidence that they will receive their packages within the stipulated schedule.
Over and above getting the basics right, customer engagement with your brand can make all the difference in maintaining and growing your sales. One of the ways to do this is integrating your online store with relevant social media platforms. When consumers see what others have bought, it inspires confidence that your web store and products are credible. This results in customers purchasing with less or no inhibitions.