How much does a mistake typically cost you? Now, for some of us, mistakes may cost us a minor loss or nothing at all. However, if you are running an eCommerce business, mistakes could cost you thousands or potentially millions of dollars.
Truly, this is every business owner’s worst nightmare. Especially as the landscape for businesses is becoming more and more competitive— the need to avoid these costly mistakes is at an all-time high.
As an eCommerce web design company, Codal has seen its fair share of eCommerce businesses making costly mistakes. Our eCommerce experts have compiled a list of three common eCommerce mistakes, what we can learn from them, and how your business can avoid them:
If you’re a customer shopping online, how much patience do you have? For most of us, that answer would be: not much. In fact, for an eCommerce store, Shopify reports that a mere two-second delay in load time increases shopping cart abandonment rates by 20%.
Often times, as an eCommerce site receives heightened traffic, they are not able to support it. Resulting in this dreaded wait time for users, and this costly loss for business owners.
We recently saw this failure on a colossal scale, as we witnessed Amazon’s Prime Day fail. As their site was flooded with traffic, they were unable to support it, and it crashed. It is estimated that the eCommerce giant lost anywhere from $72 million to $99 million from this flop.
With huge eCommerce events, like flash sales or Black Friday and Cyber Monday, you need to ensure that your site can handle this heightened site traffic. In order to avoid a similar fate as our dear friends at Amazon.
We have seen these eCommerce fails by other businesses as well. In 2017, with increased site traffic, Lowe’s website crashed during Black Friday. The year prior, Macy’s website also crashed.
You can prepare your site for an influx of traffic by preparing early. You should check with your website’s host to ensure that it can handle this surge. For example, you should ensure that your platform is used to handling high-traffic. A platform like Shopify Plus is built for flash sales and is used for big brands like Kylie Cosmetics.
You can also run tests to check your page’s loading time, to ensure you do not experience this dangerous two-second delay.
With heightened site traffic, the rule of thumb is: test frequently and before it’s too late.
As a website design and development company, this section is near and dear to our hearts. With poor site design, you could be hurting your site’s interaction with your users. Poor website design goes hand in hand with poor UX.
Statista reports that bad site navigation is the reason that 16% of its respondents clicked off of a site and abandoned their shopping cart.
With your eCommerce site, you should be making it seamless and easy for your customers to view your products and find out more information about them. Furthermore, you need to ensure that your customer service and return policy is easy to find.
If you have a snappy web design, it can also help with the speed that your website loads for your users. The less content on your site for users to download, the quicker it can download. If your website is optimally designed, it can prevent your site from crashing.
With these high traffic holidays, along with checking your website’s host, you should be analyzing your website’s design. if it’s clunky and not streamlined, your website is in need of a serious facelift.
Checkout seals the deal for an eCommerce site. Completing an order is an integral step for a customer as you nurture them through their life cycle. If you get a customer to complete their order, that’s revenue for your business and (if satisfied) that customer could potentially become a loyal one.
According to a study conducted by Statista, 21% of respondents said that a long checkout process was the reason that they abandoned their shopping cart.
As we previously wrote, “Shopping cart abandonment hones in on arguably the most crucial stage of the eCommerce purchase cycle: checkout.”
You can help the speed of a customer’s checkout with the payment options that you offer. If you offer a user to “login with Facebook,” to “sign up with Google,” or to link their Paypal, it will go quicker.
An agency that specializes in eCommerce can be a helpful tool to utilize when ensuring that checkout is functioning at its highest potential.
Your eCommerce business also needs to be wary of its ability to fulfill orders, provide solid customer service, price your products correctly, have a quick onboarding process, have a low shipping cost, and more.
All of these things can make or break an eCommerce business. Now, these costly mistakes can be scary. But they don’t have to be! Get in contact with an agency that has eCommerce expertise to ensure that your business doesn’t fall victim to these common eCommerce mistakes.