7 Costly Mistakes made by Ecommerce Business Owners + Tips to Avoid them
The Figures don’t lie – Ecommerce is Huge!
…And it’s not just giants such as Amazon and EBay that are raking in Heavy on it, small businesses and Marketers are experiencing the Exact Same Trend.
But Here’s the problem…
Most Ecom Business Owners, especially newbies, shoot themselves in the foot long before their Return on Investment (ROI) starts flooding in. This is usually because they make some mistake that has some ‘fatal’ consequences.
Here are 7 “Killer” Mistakes Most Ecom Business Owners/Newbies make;
1. Selling what Nobody’s buying
This is the most common mistake most Ecom Owners Make.
The e-commerce space is very competitive so you need to look out for where you have an advantage. This could mean selling a product you create, selling to a niche community, or picking up on new trends early. However, this could be Tricky as ‘All that Glitters isn’t Gold’. Some products might look cool to you but they are not in demand.
2. Hooking up with the Wrong Supplier/ Agents
Ecommerce Business hovers around one word; TRUST. You could have all the Hot-selling products but without Trust, but without Trust, nobody will patronize your Store. Trust comes from shipping purchased product at the promised time – no issues! If you got a shady supplier, this will be very difficult to achieve and you will get a lot of refunds with negative Reviews.
3. Selling your Products for the Wrong Price
You can’t just attach a price to any product without carrying out a Competitive analysis. You’ve got to find out how much other successful Ecom stores are selling theirs (Amazon, Ebay, Aliexpress etc). This will also help you know your ROI on each product.
4. Targeting the Wrong Audience
From my experience designing Ecom Stores for Clients, this is one of the Most Difficult aspect of the Ecom Business. Now you’ve got the right product, supplier and PRICE.
Question is How do you start attracting Buyers?
Running Ads, especially on social Media isn’t as easy as it Looks. For Example You can’t Target a Makeup product to Men, or woman above 60 years.
5. Using a Crappy Ecommerce Website:
Ever visited an Ecom Store and instantly fall in Love with it, not just for their products but for the interface?😍
Yes, an E commerce Store with a Good User interface will definitely keeps Visitors Glued to the products on it.
6. Not using the Right Automation & Dropshipping Tools:
We’re in 2019, where Automation rules! It’s always very Difficult to Fulfill Order, especially when they’re a lot of them..and believe me, there will be a lot of them if you learn from the 5 Mistakes as Listed above.
If you’re shopping from Popular stores Like Aliexpress as you should, you can fulfil orders by connecting your store to aliexpress through Dropshipping apps.
7. No Social Proof on your Store
People tend to follow what others are already doing, also known as the ‘herd effect.’ Having social Proofs on your Ecommerce Website converts visitors from the thought of ‘you’re about to make a mistake’ to “So many people can’t be wrong. If they are already in, then this is a good deal. I need to get in on this too.”
Well I’m not a Complete Ecom Guru, but I’m confident that learning from the above-explained mistakes, you have a 90% chance of dominating the Ecom Industry.