E-commerce is the fastest growing retail industry. According to a recent report by the US commerce department, online e-commerce sales surpassed $450 billion with was the highest growth rate since 2011. Needless to say, these figures show a revolution in the way people prefer to shop in this era. Online shopping is convenient, and many customers find it easy to place their orders through an e-commerce website.
However, that doesn’t necessarily mean that all online businesses are an instant success. The reality is quite different. According to a survey, more than 50% of startups fail within the first four years of their launch. The reason behind this compelling figure of unsuccessful businesses is that the fierce competition in the online world. Only the best of the best can survive.
Many reasons lead to the downfall of an online business. Lack of professional customer service, a slow loading website, and poor products are only a few elements of the overall equation. If you want to stay ahead of other e-commerce fashion businesses and grab a bigger market share, then you need to follow a precise marketing strategy. Here are 10 reasons why your e-commerce fashion business may not be doing as well as you expected and strategies to convert your website into a money-making machine:
1- You don’t keep your current customers happy
According to research by Harvard Business Review, it can cost an e-commerce business anywhere from five to twenty-five percent more to acquire new customers than keeping existing ones happy.
In short, if you want your old customers to stay loyal and shop even more, then start working on a strong customer retention strategy. You can introduce loyalty programs and offer other incentives for your frequent customers. It will cost you far less than developing a marketing strategy from scratch and bringing new customers on board.
2- You have inefficient customer support
There is nothing more frustrating than an e-commerce website that offers poor customer service. According to a survey by the Wall Street Journal, about a third of all things bought online are eventually returned. This is why you should have an easy return policy otherwise be prepared to witness your customers buying from a local competitor the next time.
Try to offer around-the-clock customer service and resolve customer queries as soon as possible. A good customer support system can shorten the sales cycle and convert potential leads even faster.
According to Internet Retailer, companies that focus on strong customer engagement strategies retain 89% of their customers, as compared to 33% for organizations that had a weak customer care system.
3- You don’t focus on email marketing campaign
An enticing email marketing campaign makes your customers want to come back. Make sure you notify all your customers about weekly new promotions and other discounts. This way you fashion e-commerce store stays on top-of-mind and can generate more sales and eventually a higher ROI. Read more about how companies increased their open rates by developing a strong marketing campaign.
4- You don’t use professional pictures
You can’t deny the fact that excellent photography increases conversions. If you’re shopping online, the only way to judge the quality of a product is through photographs. Online visitors view a product page and look at the photos for proof of quality and value. For example, if you have an e-commerce website that sells leather jackets online, try to take close-ups that show the texture and quality of the leather material.
Take a look at this beautiful high-resolution picture of a leather jacket. You can almost envision wearing the jacket and feeling the smooth leather;
So, don’t skimp when it comes to taking professional product photographs.
5- Your website takes too long to load on mobile devices
One of the biggest turn-offs customers face while online shopping, is a slow loading website. When a website is not responsive or mobile optimized, the result is often a higher bounce rate and website abandonment. It takes almost 12 positive customer experiences to make up for one negative one. So, start working on decreasing the load time of your website and making it mobile-friendly if you haven’t already.
6- You fail to share user-generated content
According to research by Nielsen Consumer Trust Index, 92% of consumers trust user-generated and organic content more than traditional forms of advertising. What’s more, user-generated content can save you a lot of time, financial resources and boost your credibility instantly. So, encourage your customers to share selfies of themselves sporting your fashion accessories and apparel.
7- You’re not easy to find
Make sure you use search engine optimization (SEO) to your benefit. You can’t expect your e-commerce fashion website to do well if people find it difficult to look for it in the first place. Hire an SEO consultant and add strategic keywords in the copy on every page and product description.
Here are 7 actionable tips for making your fashion website SEO friendly.
8- You don’t develop smart partnerships
You can’t survive in singularity especially when you are in the fashion business. To show how successful your fashion brand is, start building relationships with key fashion bloggers and influencers. Send your products to well-known fashion reviewers who can show the quality of your product to their thousands of followers.
Try blogging, post on guest blogs and ask other industry websites to feature your fashion website.
9- Your product prices aren’t market competitive
Now that we’re almost done with the list of reasons to run a successful fashion e-commerce business, it’s time to convince your potential customers to hit the ‘add to cart’ button. The last thing you want is your customers opting for a competitors website just because they offered a low price. Make sure you do meticulous research before you price your products. Offer discounts for first-time buyers so that they don’t hesitate before typing in their credit card number.
10- You fail to set yourself apart from the others
Lastly, it is important to build your brand identity and highlight the features that set you apart from other competitor websites. Showcase the benefits of your products and why potential customers should shop from your fashion brand in particular.
In this age of digital competition, it is quite easy to get lost in the crowd. So start working on a focused niche and excel in it rather than trying to be a jack of all trades.
We hope these fashion businesses related tips were helpful in understanding that why your e-commerce fashion business is not performing according to your expectations. Once you have applied all these rules, watch your sales grow steadily over the period of time.
Do you have some more tips and tricks that can help a fashion e-commerce business succeed?