6 Known Traits Of a Successful E-Commerce Business In 2024
The factors contributing to an eCommerce business's success are not rocket science. You may have heard of them before, but it is interesting to note that many business firms take these traits for granted and get them wrong. To help you get more out of your online business, we have identified six traits of a successful eCommerce business in 2024.
1. Tones of social proof
Are you aware that 93.4% of customers rely on customer reviews when dealing with retailers not familiar with them? Social proof is powerful. When new customers think of doing transactions with a new business, they want to hear from people who are already existing customers.
Social proof is highly influential for a new business as it leaves everlasting footprints of a brand-customer interaction on the web that millions of customers can read.
Social proof is a natural way to build brand trust, grab customer attention, share independent views on the business, and give a strong thought process to prospective customers that are too confused to make a decision.
Types of social proof: User Testimonials, Key Opinion Leaders (KOL) endorsements, social media proof, and trust badges.
2. Super smooth delivery and returns
Delivery and returns are a huge part of an eCommerce business. 79% of people are more likely to shop online with free shipping, and 60% of customers will abandon their cart if shipping is too high.
It is always advisable to offer free shipping wherever possible to negate cart abandonment and increase conversions. If you cannot afford 100% free delivery, you can provide promo codes to attract and convert more customers.
Another research from Barclaycard shows that free returns have become the 'new' normal. They found a fifth of consumers will only shop at retailers that offer free returns.
Therefore, eCommerce businesses must ensure that the return policy does not discourage potential purchasers from placing an order and offer free returns wherever possible.
3. Quick and easy checkout process
18% of online shoppers abandon a purchase due to the checkout process being too long or complicated. A checkout procedure should be as simple as possible. If the product page has convinced a buyer to add to the cart, it must guide them seamlessly through the checkout to conversion.
Also, it has to be ensured that the eCommerce site always displays progress bars during the ordering phase and that the required checkout steps are kept to a bare minimum.
You can use guest checkout, offer social sign-in, clear Calls to Action (CTAs), flexible payment methods, and highlight security & trust signals to speed up the checkout process.
4. Provide a great mobile user experience
Are you aware that mobile users are 5x more likely to abandon a task if the site is not optimized for mobile? To figure out what an excellent mobile experience looks like, we need to see how it works.
A good mobile experience should look good, run smoothly, and have everything in the right place. You have to make sure that the first impression is good, and your customers are less likely to trust your brand if it looks terrible.
Here are some of the essential elements of a good mobile UX design:
- Useful: It must fulfil the customer’s needs and requirements.
- Usable: Its features must be effortless to use.
- Credible: Users must trust your brand and its products.
- Desirable: It must evoke positive emotions & appreciation.
- Findable: An easy navigation should help users find important information quickly.
- Accessible: Disabled & non-disabled users get the same user experience.
5. Offers great flexibility in payments
Providing flexible payment options is about appealing to the broadest range of customer preferences and ensuring that customers do not leave their eCommerce site due to the unavailability of a preferred payment method.
As credit & debit card use is expected to decline in coming years, successful eCommerce stores need to update themselves with new payment methods like Buy Now Pay Later, cryptocurrency, digital wallets, bank transfers, prepaid cards and a lot more. Take a look here at some of the most popular online payment methods.
6. Provides excellent customer service
Here are some of the tips to provide excellent eCommerce customer service.
- Listen to the customer: Actively listening to the customer, showing empathy, and reflecting on a customer's feelings will help you turn the conversation in the right direction.
- Improve customer interactions: Although a team has good skills in communicating with customers, they must also relate to them. They should try to find mutual interests with the customer, which can help your team understand the conflict & humanize the connection between the customer and staff.
- Be available anytime: If your customers are from different time zones, you should be available at their preferred time.
- Ask for feedback: If you genuinely want to provide the most satisfactory customer service, feedback would help understand what your consumers think about your brand, business, products, and services.
The wisest business entrepreneurs have explored the road to success for eCommerce businesses many times. Any business can achieve these qualities as long as there is a conscious, dedicated & consistent effort to improve.
Now that you know the winning traits of an eCommerce business in 2024. Let's take your eCommerce business to the next level with Fynd Platform. We help you get a sales-ready eCommerce website in less than 30 minutes. Get it today! Click here to Book a demo right now!
