Top 3 Myths About An e-Commerce Business
E-commerce is the biggest buzz word for the millennium. The boom of Information technology over the last few decades has been immense and entrepreneurs have surely figured out ways to capitalize on it. One such method of reaping the benefits of the budding IT era is to create your online store. Unlike a physical store, an e-commerce set up allows you to reach out to people across boundaries. And it no genius to know that a wider client reach equals stronger revenues. However, before you discard the e-commerce game as a cake walk, it would be wise for you to unearth few myths around it as mentioned below:
Myth No.1: Your product line alone can make or break your business:
It is a given that great products are a must for every business, online or otherwise. However, focusing on products alone cannot make you succeed in the e-commerce domain. Along with a lucrative product line, other aspects worth considering are how to create a personalized experience for your clients and how to best establish this technologically.
Myth No.2: Once your website is set up, traffic is guaranteed:
This is one of the most common myths when it comes to e-commerce businesses. While a great website and app can certainly enable huge sales, this isn’t the only pointer for success. After all, how will the public buy from you if your webpage stays invisible to them despite of going live? This is where effective SEO can help you a great deal. The right keywords along with other engaging content can help you generate more traffic than you would otherwise have thought of!
Myth No 3: Revenue is the biggest performance indicator in e-commerce:
Revenue is certainly one of the most important indicators of success when it comes to e-commerce. However, sometimes we stay content in knowing that earning more than your investment is a good sign and hence you have adequately succeeded in your plan. The thing to remember is that there may still be more room to grow and focusing on only revenues will not get you ahead. When it comes to an online store, aspects such as search engine click-throughs, conversion rate and bounce rate should also be considered as key performance indicators.
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