According to numerous studies, 90% of e-commerce startups go out of business within 120 of their launch. The main reason for this high failure rate is the lack of knowledge of the basic rules governing this activity. This article, therefore, offers a presentation of the 5 essential rules in the development of an online business.
Site traffic
According to statistics from MarketingSignals, the main reasons for the failure of online businesses are the absence or lack of implementation of an effective marketing strategy. This generates a lack of visibility of the business which is then only known by the close entourage of the owner.
The first rule of developing an online business is creating traffic. Indeed, the development of the Internet has led to a significant increase in online business. While at one time it was enough to create your site or business and wait for customers, today it is necessary to develop an effective communication strategy to attract visitors in order to then begin a conversion process.
In this sense, it is strongly advised to test lines of communication and to evaluate the results over time. This will determine the target customer as well as their basic needs.
Offers
The second golden rule in the development of an online business is the mastery of the offer. It is completely useless to attract visitors if the prices charged have no attractiveness.
Nowadays, there is hardly any industry where there is no stiff competition. It is, therefore, necessary to develop an efficient pricing strategy that allows you to compete with competitors while making a profit.
In addition, it is possible to beef up the offers and stand out with packages, promotions or even special offers. For an online business focused on the theme of women’s lingerie, for example, it will be necessary to offer interesting promotions with discounts.
By domino effect, the communication surrounding these various offers will have a significant impact on the visibility and e-reputation of the site or company.
The customer
One of the biggest difficulties of online businesses is the trust of Internet users. Many people hesitate to trust an “unknown” site because they fear poor quality products or simply a fictitious company.
It is, therefore, necessary to reassure customers as much as possible and convince them of the quality of the services provided. In this sense, it is possible to opt for secure means of payment or to set up an after-sales service. This last element is particularly important, because it makes it possible to evaluate satisfaction and to do post-sale follow-up. Moreover, the additional services are particularly appreciated details.
Adaptation
The constant evolution of the Internet forces online business players to constantly adapt. It is therefore important to adapt the operation and organization of its site to market requirements.
If necessary, it is possible to use management tools to determine the recurring needs of Internet users.
