eCommerce startups are very popular on the internet. This is because people are quickly finding that buying stuff online is much more time-efficient and cost-efficient. Internet entrepreneurs understand this fact and all want to milk this opportunity. Hence, we see so many eCommerce startups mushrooming daily on the net.
In this post I discuss the top 5 eCommerce startup mistakes made by entrepreneurs:
Ignoring Online Trust Issues:
Focusing on web development and neglecting marketing:
This is another very amateur mistake made by first-time internet entrepreneurs. They get so obsessed on making their eCommerce website aesthetic and conversion-oriented, they forget a basic thing – how will people find you? It is just so typical of few entrepreneurs to blow their budget on web development that they are left with nothing for their marketing efforts. Usually, a wise entrepreneur understands that he will need to spend more on marketing than he would do on developing the website. There is no point having a high-conversion website when no one is coming over to actually get converted. It is food for thought – chew on it.
Not Optimizing Your Web Analytics:
For whatever reason, either because some don’t understand web analytics or because they find it time consuming, web analytics of a business website is ignored. Get this one fact straight – your analytics are a treasure trove of intelligence data about your visitors and how visitors behave on your website. Nothing matches Google Analytics, so make sure you take a look and interpret all the data stored in your analytics dashboard. You don’t need to hire a special guy to interpret all the data for you – it literally is child’s play. Just give yourself some time with it.
Forgetting online visitors are not as committed as real visitors:
It is easier for brick and mortar businesses to sell (as compared to online stores). The main reason behind is that online visitors will never be as committed to buying something when browsing websites. Whereas, a person who has drove all the way from his home to your shop will have a much more higher chance of buying something from you.
So what does this mean? Well, it means that even small details will hugely affect your online store performance. Also, there are millions of other eCommerce website options which are just a few clicks away. This is a very tricky situation for any eCommerce startup.
Complicated Payment Gateways:
So many times when I have brought stuff online, the only step that remains is to pay. Then opens a complicated checkout/ payment gateway – if anything I start to get worried about where my money is going. Sometimes I am just unable to figure out how to go about the payment gateway because they look fishy as well as are totally non-intuitive (a very bad combination). Moral of the story– you will lose customers you had by the balls if your payment gateway sucks! Make checking out smooth and easy, even if it means investing that extra bit, because that is what will keep your customers returning to your online store.
That’s all for now folks! Let me know your suggestions on mistakes made by eCommerce startups.