The experts have said it: e-commerce in Australia is getting bigger. According to Statista, the industry is likely to earn over $25 billion in 2020. It can also grow up to 5.8% each year until 2024. By then, the market size will expand to over $30 billion.
Today, the average revenue per user is already $1,408. It then begs the question, why are you not earning that much? Reasons can vary, but it’s more likely you committed these mistakes:
1. Your Website Is Hard to Use
Cart abandonment is one of the biggest problems in e-commerce, and the rate is increasing. It is now between 75% and 81%. You lose about three-quarters of your potential customers!
People leave their shopping carts for many reasons, such as hidden costs or high shipping fees. Several, though, relate to website design:
- It doesn’t have a delivery calculator.
- The customer has to fill out a long form before they can check out.
- They cannot save their shipping and billing information.
- Customers have to go through many stages before they can buy.
- The product page doesn’t display the photos well.
- They cannot read or leave reviews.
Your website is the face of the business online, so you need to make it not only good but also responsive to users. If it’s not cutting it, perhaps it’s time to hire a Shopify web designer. This e-commerce platform is popular because it’s easy to use, but with a designer, you can optimize your store. They can also help you transition from your site to the program.
2. You Don’t Maximise Social Media
Contrary to popular belief, few are buying things through social media. It doesn’t mean you can ignore the likes of Facebook, Twitter, and Instagram. These are powerful—and free tools—for promotion. Hootsuite has compiled some of the reasons:
- Users are spending a lot of time on social media. On average, they dedicate at least two hours daily for these sites. Meanwhile, Generation Z and Millennials are into their accounts for an hour more.
- Time spent on social media increased by nearly 1.5% in 2019.
- Almost half of the Internet users go to social media to look for things to buy.
How can you mix social media with your advertising strategies? Here are the ideas:
- Add a buy button. Facebook, Twitter, Instagram, and Pinterest now offer business profiles or accounts to help you do that.
- Engage with your audience. Provide them the content they’re looking for. Reply to their comments, or run surveys and competitions.
- Offer original kinds of content. Do you have a video? Share it across multiple accounts. Make infographics or illustrations. Remember, many Internet users are visual learners.
- Use social media management tools. Managing social media platforms isn’t a walk in the park. Spare yourself the burden by using management tools like Buffer and Hootsuite.
- Include a Share button on your product page. Allow your customers to share their purchase or the items in your e-commerce site with their friends and family.
3. You Don’t Reward Loyal Customers
Do you know that existing customers will account for over half of your business? Increasing customer retention by 2% can also decrease your company costs by 10%. These ideas can help you create loyal customers:
- Offer exclusive discounts to repeat buyers.
- Ask for testimonials through videos or photos and feature them in your site and social media accounts.
- Offer excellent customer service. Answer their questions within 24 hours or provide several contact details. Make a FAQ page. Create a refund policy, and process returns fast. Protect customer data.
- Perform analytics to provide a more personalized shopping experience.
It isn’t over until it’s over, they say. With these ideas, hopefully, you can turn things around and grow your business the way you want.