Ultimate Guide to Grow Your Ecommerce Business in 2021

June 17, 2021
 Mins Read

The COVID-19 pandemic compelled B2B buyers and sellers to go completely digital. What began as a crisis response has evolved into the new normal, with significant consequences for how buyers and sellers conduct business in the future. According to recent McKinsey research, More than three-quarters of consumers and sellers now prefer digital self-service and remote human contact to face-to-face contacts, an attitude that has only grown stronger since the lockdowns ended. For one thing, B2B ecommerce makes it easier for sellers to shop. Buyers can place orders online at any time, rather than by phone, email, or during set office hours.

The article is all about the different strategies on how you can grow your Ecommerce business. This Articles Contains:

  • Strategies to Grow Business
  • Challenges Faced by Ecommerce Businesses
  • Effective Growth Hack for Ecommerce Startups to Succeed
  • How Outsourcing can Help Ecommerce Companies

Let's Start While the projections for the upward growth of the eCommerce industry are promising, it all boils down to what they mean for your business. How can you make your online business reach newer heights, what new strategies can you incorporate to increase profits? To get answers to these questions, here is a list of strategies to grow your business this year, and take it to new heights.

Strategies to grow your business in 2021:

Identify and Learn About Your Customers:

The first goal to success in the web marketplace is to identify who your end user is, and then get to know everything about them. The better you understand them, the better you will be able to devise products for them, which will, in turn, lead to improved traffic, sales, and profits.

Implement Email Marketing:

Even with new tools like live chat to woo customers, email marketing is a guaranteed way to reach your target audience and promote your business. This is because of many reasons: according to an article by consultant Francisco Rosales, 95% of online shoppers use email while 91% of them check their email every day. According to another study, 60% of marketers saw a positive return on investment due to email marketing. Email marketing is essential to the success of any online business.

Utilize Social Media Tools:

Social media such as Facebook and Twitter can be a magic wand for online businesses, especially start-ups. It is a great way to use creativity, analytical thinking, and social metrics to sell products and gain exposure amongst your target audience.

Increase Trust & Credibility:

An online shopper is looking for a trustworthy store – one that sells genuine products, has good service, and one where the customer can get value for his money. For this, the customer needs to know you and what you sell. This can be done by posting positive testimonials about previous purchases from existing buyers, and reviews on customer service, delivery and returns.

Challenges Faced by Ecommerce Industry

There are few of the challenges faced by Ecommerce industry. Let us see that

Guide to grow Ecommerce Business

1) Website Navigation:

Customers cannot buy products, if they are unable to find them. In an article on Smashing Magazine.com about a usability research study by the Baymard Institute, customers encountered 900 usability-related issues on popular eCommerce websites. This made them prone to abandon these websites when they had difficulty in locating the products of their choice.

2) Data Security:

In a digital world, with the increased use of technologies and devices, security concerns related to protecting personal and financial information of customers, are also growing. Fobs.com reports that eBay faced a database security breach last year, wherein the non-financial, personal information of several customers was compromised.

3) Underperforming Checkouts:

According to an article on Econsultancy.com, companies should focus on the checkout process for increasing sales. An underperforming checkout process usually asks for customers to register, takes time to load, might include hidden costs and high shipping charges, and will not display return policies. Addressing this challenge appropriately through optimized design of the website and its associated applications could help eCommerce companies to boost sales.

4)Cross-Selling and Up-Selling Challenges:

In traditional brick-and-mortar stores, sometimes even if the consumer is not willing to spend on additional items, the salesperson can effectively communicate the need for purchasing them. E-commerce companies also require efficient customer care representatives to step in to help online shoppers and make cross-selling and up-selling efforts.

5) Digital Marketing:

In an increasingly competitive online space, effective digital marketing strategies need to be in place to reach out to online shoppers and communicate the offering and promotions to them. Besides ranking well in search engine results so that consumers can find it easily, engaging content also needs to be created for social networks. E-commerce companies, thus, have to employ marketing strategies that help customers to differentiate them from others.

These were a few of the challenges faced by the eCommerce business now; let us see a few of the hacks that can help startups to succeed in their business.

Effective Growth Hack for Ecommerce Startups to Succeed

One of the key growth hacks for a fledgling startup would be outsourcing tasks that are necessary for its success, but not mandatory to be performed in-house. These would be activities that involve a large volume of repetitive work, which are capable of being executed with efficiency by providing clear standard operating procedures (SOPs) to an external specialist.

Ecommerce Functions that can be Safely Outsourced by an Online Startup are:

1. Product Information Management

Product information management (or product data management, as it is also known) is a herculean operation that goes on continuously. E-commerce businesses survive on the accuracy of their product data. Any errors in representation would not be easily forgiven by customers who complete checkout. According to a survey by eCommerce insights solution provider Clavi's Insight, only 36% of products across 10 eCommerce sites passed all tests related to completeness, accuracy, and presentation of information. Outsourcing product information management puts extra hands to work on this mammoth task.

As long as an SOP can be established for the job and the Content Management System (CMS) is user-friendly, any data entry, data validation, or data cleansing operation can be outsourced.

2. Customer Service

An eCommerce business may be driven by technology, but that does not take away the need for creating a human interface through in-demand customer service channels. For instance, eCommerce retailer Zappos is renowned for its customer service. The brand displays its toll-free number prominently on its website, encourages shoppers to call in anytime, and is responsive on social media as well, often giving out USD 50 coupons as a means of placating irate customers'-commerce startup brands need to offer customers all options when it comes to customer service, but they certainly do not need to invest in the resources to manage this activity internally. Outsourcing customer service across all available channels of communication is a decision that will greatly benefit an eCommerce start-up.

This will also help you in scaling your customer service operation as required. Contact centre technology can be leveraged and metrics can be put in place to ensure that customer service is being delivered as per the business requirement.

3. Order Management

As customer orders come streaming in, their management becomes critical. Order management activities span a host of functions from the front end to the back end. At the customer service front end, assisting shoppers through order placement involves query resolution, giving quotes, order taking, complaint resolution, managing requests for refunds, providing status updates, collections, and more.

Outsourcing order managemento ensures that there is a dedicated team working on this critical aspect of your operations. With streamlined order management, shoppers will be attended to via live chat or phone, their orders will be delivered on time, there will be no glitches in collection or refunds, and the order database will be updated correctly at all times. All this without internal employees having to divert their attention from their existing focus areas.

4. Server and Website Maintenance

So much of the eCommerce website’s functionality depends on server and website maintenance. This is particularly important at the time when a sale is announced or during peak shopping season when the incoming traffic to the website may spike, breaking its functionality. In 2014, the Black Friday shopping rush brought down the websites of major eCommerce players such as Curry's, Tesco, John Lewis, Best Buy, and others.

Outsourcing website and server maintenance will give access to support staff who will take up the responsibility of determining that the eCommerce portal can handle any demands that are placed on it by the success of the marketing strategy, and customers will be satisfied a lot regarding their user experience.

5. Technical Support

There are two aspects of the help desk or technical support for eCommerce businesses. The first one is more likely in the startup stage, and that is when customers need technical support for their purchases or potential purchases. This is particularly applicable to startups that sell technology-based products. Outsourcing the help desk or technical support enables the queries of customers to be satisfied in a responsive manner.

In case the matter needs to be escalated to the next level of support, a ticket can be raised for the issue and the follow-up. Outsourcing minimizes the number of expert-level technical support agents that an eCommerce startup needs to employ within its own premises, and hence, creates a systematized workflow for problem resolution.

6. Traffic Acquisition and Analytics

For any online business, it is critical to first understand the customer profile and what constitutes good web traffic for it. Public Relations (PR), Search Engine Optimization (SEO), social media marketing, blogging, content syndication, email marketing, video marketing, display advertising and Pay-Per-Click (PPC) advertising need to be leveraged in a balanced and strategic manner to spread awareness about your website, as well as retarget existing customers.

Outsourcing aspects of digital marketing will give internal employees the bandwidth to focus on core branding and marketing activities. The internal team can manage the outsourced work through dashboards, Key Performance Indicators (KPIs), and regular meetings conducted over the phone or video chat. These were few of the hacks to get success in your online business.

How Outsourcing Can Help eCommerce Companies

E-commerce companies can find solutions for the above-mentioned challenges by outsourcing functions for which they require external support and expertise. Some of these functions are described below:

  • IT Support

An experienced IT-BPO service provider can provide eCommerce companies with robust software applications that ensure security and ease of use through the checkout process. By outsourcing the design, development, testing, and quality assurance processes for web and mobile applications, the load can be taken off the IT team of the eCommerce company to focus on other critical issues.

  • Product Information Management

Through effective data management services, a specialist IT-BPO service provider can provide eCommerce companies with optimal product information management. This ensures that complete information, including representative imagery, is available about all the products on the website, in a manner that makes the research and purchase process easy for the user.

  • Customer Service

A specialist IT-BPO service provider can provide a multi-channel contact centre that will help eCommerce companies to address their customer care issues effectively

  • Digital Marketing

By partnering with a service provider that has expertise in digital marketing services, an eCommerce company can improve the traffic it draws to its website. This could also result in an increase in sales and revenue.

This is the Guide to grow an Ecommerce Business. Running an eCommerce business can be simplified with our eCommerce outsourcing services. Our services can assist you in managing your everyday operations seamlessly enabling you to focus on your strategic business plan. Over the years, Invensis has successfully provided eCommerce support services for numerous online retail businesses across the world.

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