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Online retailers must choose carefully who to work with. In addition, hiring the wrong partners or agencies to help you implement projects or oversee marketing campaigns may also limit your growth. They must choose the right shopping cart solution, inventory management software, email software, CRM systems, analytics and so much more. Retailers wanting to achieve growth must be built on a good technology foundation. Some online retailersВ may face growth challenges because their techonology is limiting them or theyвЂ™ve hired the wrong partners/agencies to help them manage their projects. Online retailers must always find ways to cut inventory costs, improve marketing efficiency, reduce overhead, reduce shipping costs and control order returns. Increasing sales is one way to grow the business but in the end, what matters most is profitability. Retailers must implement tactics to help them get the most out of their customer base in increase customer lifetime value. Retaining customersДЄttracting new customers is more expensive than retaining the current ones you already have. Conversion optimization is a continuous process. Retailers must constantly optimize their efforts in converting both email leads as well as website visitors into customers. At a certain point, you need to convert those leads in order to pay for your marketing campaigns. Converting shoppers into paying customersДriving quality traffic and nurturing leads is key if you want to close the sale. Value and entertainment goes a long way but that requires moreВ work. Online retailers put a lot of focus on communicating product offering as well as promotions, but prospects need more than that. Nonetheless, retailers must always deliver valueВ with their email marketing efforts. Having a large email list is worthless if youвЂ™re not actively engaging with subscribers.ДЄ small percentage of your email list will actually convert into paying customers. Retailers must craft the right message for the right audience in order to convert them into leads with hopes of turning them into customers. Not only will help you communicate your message, but it will also allow you to prospect betterВ using tools such as Facebook Custom Audiences. Building an email subscribers list is key for long term success. With conversion rates ranging between 1% to 3%, they must put a lot of effort in generating leadsВ in order to get the most out of their marketing efforts. Online retailers are spending a significant amount of money driving traffic to their online store. They must be visible where their audience is paying attention.

TheyВ must effectively leverage SEO, PPC, email, social, display ads, retargeting, mobile, shopping engines and affiliates to help drive qualified traffic to their online store. Retailers can no longer rely one type of channel to drive traffic to their online store. Generating targetedВ trafficДigital marketing channels are evolving.

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Retailers must figure out where their audience is and how to attract them efficiently without killing their marketing budget. They get easily distracted with technology and social media. Lots has changed including the way they consume content and communicate online. They use their smartphones to read product reviews while in-store and pay for purchasesВ using all sorts of payment methods. They ask for recommendations on Social Media. They use Amazon to search for products (not just Google). Online shoppers donвЂ™t shop the same way as they used to back in the day.

TheyвЂ™ve simplified product sourcing by giving access to Chinese manufacturers within a couple of clicks.ДЄll of this has made it very difficult for retailers to source unique products unless you they decide to manufacture your own.Д¬lick here to learn about вЂњHow to Find a Product to Sell OnlineвЂќ Course 2. Their marketplace and fulfillment services have enabled sellers from all over the world to easily reach paying customers. Anyone can launch an online store within days and start selling all sorts of products.ДЄmazon is taking over the eCommerce world with their massive online product catalog. Shopping cart platforms like Shopify have eliminated many barriers of entry. Here are the top 10 most common challenges faced by eCommerce businesses of all sizes. China is opening up to the world and technology is now affordable. Now, Amazon is a major competitor to everyone. CompetitionВ was minimal, technology wasnвЂ™t as affordable as it is now and access to product was limited. IвЂ™ve been involved in eCommerce since 2001В and I can truly say, A LOTВ has changed.Д«ack in the day, you can sell just about anything and make crazy money.

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