With over 14 million e-commerce websites owned by US businesses, doing the basics is simply not enough to cut through the noise and secure those profitable conversions. Running a successful e-commerce website requires strategic planning, technical expertise and creative execution. To have a profitable online store, business owners need to ensure that the right platform is utilized, with seamless user experience, and robust cybersecurity.
Below are key considerations that are essential for launching and managing a thriving e-commerce business in today’s competitive market.
1. Select an E-Commerce Platform Specifically for Your Business Needs and Plans
The platform you chose for your business online will impact each aspect of your business. The way your product is displayed, transaction processing, scalability, site performance and user experience are highly dependent on the ecommerce platform.
When selecting an e-commerce platform, consider the following elements:
Whether you have a B2B, B2C or a hybrid business, the ecommerce platform you chose will have to cater to your specific model. For smaller businesses, SaaS (Software as a Service) platforms like Shopify, BigCommerce, or Wix may offer the right balance of ease of use and functionality.
Larger or more complex businesses may prefer self-hosted solutions like Magento or WooCommerce, which offer deeper customization and control.
Your platform should accommodate business growth without significant downtime or performance issues. Platforms like BigCommerce and Shopify Plus are designed to scale effortlessly, supporting high-traffic stores.
Then, there is the cost structure. Evaluate the total cost, which may include fees such as setup fees, transaction fees, hosting, extensions, and payment processing.
Platforms like WooCommerce are open-source and free to use, but you need to factor in hosting and maintenance costs. SaaS platforms often include these but may charge for additional features or high-volume sales.
Consider what level of customization and flexibility you need. If you need greater control over your store’s functionality or to integrate it with other business systems, prioritize platforms that support flexible development.
Open-source platforms such as WooCommerce or Magento allow greater freedom but demand more technical resources. SaaS platforms typically offer less customization but are easier to manage.
Your e-commerce platform should effortlessly connect with essential business tools like CRMs, ERPs, payment gateways, marketing automation systems and shipping providers. Make sure the platform you select fully supports your desired integrations without requiring complicated solutions.
Finally, consider platform-specific features like search engine optimization (SEO) capabilities, email marketing, social sharing, marketing automation and analytics can streamline growth efforts. With mobile commerce growing, the platform must offer mobile-friendly templates and features.
2. Focus on User Experience for Maximum Profitability
User experience is crucial for turning visitors into customers. To create a compelling and effective user experience, there are a few fundamental principles to follow.
Clear and intuitive navigation: This can include organized categories, subcategories and breadcrumbs to help users easily locate products. Minimize the clicks required to reach a product with a well-structured mega menu or sidebar navigation.
Website design: Design your site with a visual hierarchy to emphasize key elements like calls to action, promotions and product details. Use size, color and placement thoughtfully to guide users through the purchasing journey.
Mobile-friendly approach: Over 60% of website traffic comes from mobile devices so business owners need to ensure that their online platforms are completely suitable for mobile usage.
This can include the implementation of responsive website design, to ensure that each aspect of a landing page (such as CTA buttons, imagery, content) adapts smoothly across different screen sizes and touch interfaces.
Simplified check-out process to maximize profits: With mobile users having the highest cart-abandonment rate and almost 70% of shoppers abandoning their cars overall, a user-friendly check out process is essential.
Ideally, aim for a single-page checkout that is straightforward and uncluttered with a variety of payment options and buy-now-pay-later solutions to accommodate vast customer preferences.
3. Optimize Website Functionality to Overcome the Competition
Effective product management features are key to a smooth e-commerce operation. These include inventory management with real-time updates, low stock alerts, and integration with warehouse management systems, which will allow businesses to effectively manage their inventory to keep customer satisfaction high.
From a user experience perspective, robust search and filtering options that allow users to quickly find what they need is non-negotiable. On average, people only spend 54 seconds on a website. Including autocomplete search bars, attribute-based filtering, and sorting options will ensure that the site is customized to users’ fast-paced browsing habits.
4. Engaging Web Content to Grab User Attention
Effective, persuasive and high-quality content is crucial for selling products. The content on product pages should highlight each product’s unique selling point and focus on how it addresses a customer’s need.
The highly competitive online environment also encourages website content to be completely SEO friendly and user centric. Naturally incorporate keywords, optimize meta descriptions, and use structured data to improve search rankings, and diversify search results.
Visual content is equally important in online sales. Use high-resolution images from multiple angles, with zoom capabilities and context shots (e.g. lifestyle photos) to provide a comprehensive view of the product. Include product demonstration videos and testimonials where possible to increase engagement and offer deeper insights into product usage.
5. Maintaining Strong Cybersecurity
Cybersecurity is critical in e-commerce, where sensitive customer data is frequently exchanged.
Key security measures include SSL certificates, which encrypt data transmitted between the user and your site, protecting sensitive information like payment details and addresses.
Compliance with the Payment Card Industry Data Security Standard (PCI DSS) is essential. This is mandatory for businesses handling credit card payments.
Implement Two-Factor Authentication (2FA) for both customers and administrators to add an extra layer of security to login processes. Regularly apply software updates and security patches to your platform, plugins, web application firewalls and themes to protect against vulnerabilities.
Success in E-Commerce
By following all the proper steps, you will set yourself up well for a profitable and successful e-commerce business.
