Common Misconceptions With eCommerce
Common Misconceptions With eCommerce
Over recent years as buyers look for more convenient shopping, eCommerce has exploded in popularity — and it will only keep growing. Market projections show B2B eCommerce growing at a compound annual growth rate (CAGR) of 20% by 2030. B2C sales are also expected to grow at a CAGR of 9.7% from 2021 to 2028.
That said, misconceptions surrounding online business discourage many companies from moving into eCommerce. Here are some of the most common eCommerce myths holding businesses back.
1. My Business Is Too Complex for eCommerce
Many companies believe opening eCommerce channels can add a new layer of complexity to their already intricate systems. This issue usually happens when businesses act too quickly and rush to move everything online without defining clear steps.
While it may not make sense to put everything online immediately, there are plenty of opportunities to streamline sales processes by automating repeatable tasks and calculations. For example, integrating decision intelligence (DI) solutions into your eCommerce stack can help you make more informed decisions.
Working with a reliable IT consultant can help you develop an actionable strategy for building a strong eCommerce channel. Your consultant can also help you determine a reasonable timeline for building your channel, as well as provide technology recommendations to streamline the process.
2. Customers Do Not Want To Buy Online
Many businesses hesitate to branch into eCommerce for one of two reasons:
- eCommerce might kill their brick-and-mortar stores
- Customers do not want to purchase products online
In reality, neither is true. Customers increasingly want purchasing flexibility, a primary advantage eCommerce has over traditional brick-and-mortar businesses.
Customers can buy whatever they need whenever they need it without going through a sales rep. eCommerce also expands their geographical reach, letting them shop beyond their immediate area.
Investing in digital marketing is one of the best ways to bring those customers to your online sales channels. It can also expand your customer base to those who may still be unfamiliar with your brand.
Consulting with marketing technology (MarTech) professionals can help you assess the tools you already use, identify improvement areas and develop an action plan. It can also help you determine where to start if you have not yet.
3. The Experience Does Not Matter
Over the past few years, customer expectations have changed dramatically. Providing a smooth user experience (UX) has become critical for driving eCommerce sales.
UX is a broad term encompassing all the interactions between your customers and your business — if you provide a positive UX, you are more likely to retain customers. A poor UX may drive customers to turn to your competitors.
Some of the most important UX factors to consider for eCommerce include:
- Convenience: Most customers prefer self-service tools to contact sales representatives because it is a faster, more straightforward process and it can be done when they choose rather than waiting for a callback.
- Usability: Your website should load quickly and be easy to navigate. Making your site design more cohesive and removing clutter can help improve UX.
- Personalization: AI can help recommend the right products to the right customers based on data collected on your site, streamlining the sales experience.
Build Your eCommerce Strategy with BDO Digital
If you are considering moving your business into the eCommerce space, working with BDO Digital can help. We will assess your existing digital strategy and provide actionable, innovative services to facilitate a smooth entry.
Submit our online contact form today to get started.