Ecommerce is indeed a lucrative and interesting option for merchants. But, the competition in this field has reached a point where you need to come up with the best USP to thrive. No matter how rare your products and services are, the probability is there are already hundreds of websites offering similar services.
When you decide to create an eCommerce website, you need to take certain marketing and website management factors into consideration. For example, inventory management, shipping costs, customer experience, delivery, content management, and sales tax are some of the essential elements that the webmaster needs to manage.
Before you even plan on starting an eCommerce website, you need to select the most suitable CMS. So far, Magento has proven the best platform for eCommerce website developers. Sure, the store management on Magento is quite simple. But, there still are certain factors that could impact your website performance and conversions negatively. Here is a list of things that can impact your Magento sale.
1. Complicated Checkout Procedure
No matter what device they use for shopping, they expect a hassle-free and convenient shopping experience. A complex checkout process often results in cart abandonment. In fact, it is the leading cause of the high cart abandonment rate. Let’s see how you can improve your checkout page.
• Keep it Short and Simple
Nothing is more annoying than a lengthy checkout process. Do not force people into filling meaningless information such as their office phone number, social accounts, and more. Use the auto-filling feature for the ZIP code section and ask only minimal details that are mandatory for the purchase.
• Optimize Your Site for Mobile
In today’s mobile-driven world, website optimization for mobile has become a necessity. Most people visit your website and shop for their desired products on smartphones. That said, you must optimize your site for all screens.
• Offer Guest Checkout
Don’t force people into signing up for your store. Guest checkout allows them to purchase their favorite products without having to go through the lengthy registration process.
2. No Flexible Payment Options
You don’t want to lose out your customers to the competitors just because you couldn’t offer flexible payment options. People want multiple payment options so that they can choose the most suitable one to initiate the transaction. The absence of flexible payment options will have a negative impact on your conversion rate.
Consider your audience before selecting the payment options. Will your audience want to pay through debit/credit card? Or, do they like to process the payment through bank transfer? The best thing is to play safe. Let your customers choose from a wide range of payment options including e-wallets, third-party payment gateways, debit/credit cards, and bank transfers.
3. Inefficient Payment Processing
Customers get super conscious when it comes to payment processing. No one likes to wait for hours and days for the payment to process. Inefficient payment processing is another hindrance to your store’s development.
Gone are the days when customers didn’t mind the manual payment processing task. Today, they will probably search for the product on other websites and buy it from your competitor’s store than processing the payment manually. You should consider automated payment processing for smoother and seamless customer experience. Moreover, the checkout process should seem authentic to your customers.
4. Poor International Growth Plan
With a majority of eCommerce stores going global, it is time to consider expanding your business to the international level. The major issues with global orders are shipping costs, cart abandonment, taxes, and high fulfillment costs.
First things first, you should allow payment in multiple currencies on your Magento store. Currency conversion is the most hectic job for people out there. Allowing multiple currency options will help you catch your user’s attention. Another important thing to consider is aligning your Magento store with international fraud protection. No one will initiate the transaction if your store doesn’t look secure.
5. Absence of Omnichannel and Personalized Customer Experience
Technology has grown to a point where offering a personalized experience is no longer challenging. Artificial Intelligence and machine learning have helped eCommerce stores to record customer’s preferences and track their buying pattern. This information plays a crucial role in offering a personalized and seamless shopping experience to your new and regular buyers.
You are likely to lose a large number of prospects if you don’t consider the Omni-channel presence. Your customers want to search your store across different channels to ensure that you are a reliable and renowned brand. They also look for the eCommerce websites that offer a personalized shopping experience.
You need to collect customer’s data, track their browsing history, and record their past purchases to provide them with personalized recommendations.
These were the major factors that affect the growth of your Magento store. Consider the above-listed points and improve your Magento store and make it up to your customer’s expectations.