What is the secret to successful online sales? There is definitely a right way and a wrong way to manage your ecommerce business. This infographic from Chargeback.com helps merchants by investigating the rate at which ecommerce businesses rise and fail and provides a map for the road to ecommerce success.
Most Ecommerce Businesses Fail
Even when an ecommerce start-up experiences initial success, there is no guarantee of sustainable growth. Most brick-and-mortar start-ups don’t last 10 years. The expectations for Internet start-ups are even grimmer: 90 percent shut down within several months of starting up.
And yet, ecommerce sales are growing and more companies are starting every day. In fact, in the next five years there will be a 15 percent increase in the number of ecommerce businesses. So again, what is the secret to successful ecommerce?
The Secret To Successful Ecommerce
Many people think that starting an ecommerce business is a low-cost option for realizing their entrepreneurial dreams. This might be true for some elements of your business like office space and warehouse overhead. But nothing in this world is free and that includes ecommerce success.
Among the many things in which ecommerce entrepreneurs must invest are resources for designing their site and checkout process, the cost of payment service providers and fraud prevention, expenses for search engine marketing (SEM) and email marketing, and customer service.
Successful ecommerce ventures invest in these resources and others to build trust with their target customers. They invest in robust technology to serve their customers and optimize conversion rates by anticipating and testing their customers preferences.
