7 Success Metrics to Know for eCommerce Marketers in 2019
Prior to the rise of e-commerce, people had to go out to a store to buy something. Today, however, we turn to the internet whenever we want to buy something, be it clothes, shoes, medicines or movie tickets.
In 2019 everyone hopes that the new e-commerce platforms like BigCartel, BigCommerce, and WooCommerce will be a howling success too. Companies of all sizes have also started to work hard to achieve success. Therefore, the business should figure out what will work better for them in the long run.
- According to Kinsta, the e-commerce industry is expected to grow $4.5 trillion by 2021.
- In the U.S., the number of online shopping stores accounts for about 10% of retail sales and this will grow at a rate of 15% on a yearly basis.
- According to the BigCommerce, “nearly around 77% of customers read online product reviews before making a purchase decision.”
- In the same report, they added, “46% of customers want the comparison of products from e-commerce sites and 42% of customers want testimonials from the reliable e-commerce sites.”
In this article post, I have discussed some of the key factors to consider in 2019 to measure your e-commerce success.
1) Customer Satisfaction - Personalization and Localization
This is the most important part of operating a successful e-commerce business, as the more personalized customer experience can drive your business growth to multiple times. According to the stats, approximately 64% of consumers wish to have personalized buying experience and expect that you will also predict their next step.
In this way, the localization of sources is the best way to have a personalized experience. Secondly, by satisfying the growing needs of consumers your business can achieve more success in the industry. So, it is important for e-commerce companies to have proper info of their customers’ behavior, local market, product descriptions, and offerings. All these factors will be helpful for companies in achieving success for their e-commerce business.
2) Social Media Trends - Chatbots and Augmented Reality
The first impression usually lasts. That’s why keeping an eye on social media trends helps in improving the online visibility of any business. In 2018, approx. 2.5 million people will be using single or other social media platform for the success of their e-commerce business.
Also, approx. 80% of online campaigns are running today on social media platforms for e-commerce success.
The chatbots, artificial intelligence, and augmented reality are the things to look forward in 2019 for measuring the e-commerce success.
3) Display Quality of Products You Sell Online
It might seem a good idea to focus on the display of the products you sell online. This would give potential customers a larger variety of choices to choose from and this could mean more business for your online store.
Navigation of your web store should be easy and your data on the website should be updated at all times. This could mean more business for you.
As per market stats, in between 2017 - 2021 the e-commerce sales will increase triple to $2.571 trillion.
Therefore, it is important for all e-commerce companies to follow a better approach to achieve in the long run.
Before setting up your website display metrics, ask yourself the following questions:
- In what way you want to display your product catalog?
- What information do you want to add to your website?
- What are you selling currently?
- What are your browsing requirements for your e-commerce store?
4) Multiple Payment Options
It’s natural for customers to compare prices between different brands. But, when it comes to e-commerce business the online payment also plays an important role in their success. Some portal prefers to use credit cards, debit cards, Apple Pay for online payments, while there are some others that prefer payment platforms like PayPal.
Hence, it’s clear if your e-store has multiple payment options available, this would surely satisfy your customers and this is a key to your e-commerce success.
5) Customers Want Quick and Easy Checkout Process
One of the main concerns for an e-commerce platform is to have an easy and fast checkout process for its customers. With more emphasis on the modern e-commerce payment procedure, your platform should always allow the buyers to buy quickly from the product page, and this too without redirecting them to another site or web page.
This is especially true in case of cart abandonment rate of 75.6%, hence it is vital to address this key moment of truth for the payment checkout process. This factor also facilitates the consumers' purchase decision. So, if there is some confusion or if the payment process is too long or messy, then your client will move away from your site and you are very likely to lose them.
6) Effective Content Strategy
Effective content marketing provides 4x the ROI of your traditional marketing spend. It is true in every sense of the modern e-commerce business. Through the right & effective content strategy, you can engage and retain more customers to your shopping store. Quality content is the key to acquire and attract maximum users. Personalized content can take your business to new levels of success because it is attractive and easy to identify for visitors.
As per the stats, effective content on your website maximizes 6 times your customer conversion rates. So, it is important that you should always consider spending more time & efforts on your content strategies to achieve complete e-commerce success.
7) Design of your Website
Finally, for staying on top of the e-commerce market the only thing that is important is the attention of the clients, the UX, user interface, and the design of your e-store website. Today more people are using mobile devices and it is not necessary that not everyone uses the same kind of device for accessing internet.
This is why it is crucial that a site responds well according to the size and resolution of the screen used. So always careful in designing the layout of our e-store, take care of factors like illustrations, animation, colors, illustrations, and scroll functions.
The success of your e-commerce business is possible. You need to take care of a few things to make the profit for your online business. Therefore, you can get some help from the above-listed factors in order to measure the growth of your e-commerce business in 2019.
By paying attention to these simple points you’ll be well on your way to enjoy the lasting success in this competitive world of the e-commerce industry. You can also hire eCommerce developers who are specialized in a wide variety of verticals. Or, you can contact development team at ValueCoders (Top IT outsourcing company for software development) to design your eCommerce application.