Would you be surprised to learn that only a small percentage of E-commerce sites gain any traction at all? Most dwell in obscurity.
Consider these observations from Cent Muruganandam, writing for Business2Community.com and check out the infographic shown below his quote:
“You might be astounded to know that there are between 12-24 million E-Commerce websites online. But what’s even more intriguing is the fact that only about 3% of them (650,000) ever make it past $1,000 in annual sales, according to Internet Retailer. What’s the point I am trying to establish here, you might wonder? Well, from where I see it, a whopping majority of E-Commerce outlets fail to make a significant amount of money. It’s not that there’s no money in the E-commerce industry. It means is that majority of online retailers are not doing things right, because if they had been successful in doing them right, the number of outlets making more than $1,000/year would have been way more than a mere 650,000.”
I was very surprised to see the number of ecommerce sites that actually exist.
A question I have to that number is how many are actually active?
You see the bigger stores, and sites offering many of these “hacks” because they have the brand reputation, and capital to be able to do these things. Obviously free marketing through consumer satisfaction helps to spread a sites name.
I have found that many college students try to go and buy things from third party sites because of the prices, and more genuine, or unique designs that people do not have.
This list is helpful and can elevate a small private e-commerce website to the level of a mass retailer like say, Amazon. Getting into the nitty gritty of the list, if a e-commerce business applies potential offers such as Money Back Guarantee and Price Matching to its website, that shows a business that is consumer oriented, and one whose methods match those of other, larger retailers such as Best Buy or Amazon. In the end, there should be a more satisfied consumer base.
Improving e-commerce success in a B2B business can sometimes be a challenge. Where I work now I was assigned to create an online campaign t promote one of our product lines. We did this by creating a new youtube commercial and aligning al of our social media platforms and websites with the same message. We were giving our 200 samples of our product in a sweepstakes format with the goal of sending all 200 samples out and entering more people to potentially win a gift card to the e-store. We were afraid we wouldn’t even get 200 people to give us their information but with within a week our campaign blew up and we are at 2,500+ entries and scrabbling to ship the 200 samples. The work FREE really grabs consumers attention even if it is B2B. We hope they love the product and use the promo code we gave them to go to our e-store and buy more!