Are you looking for tips on how to manage an e-commerce website? Many investors are now joining the e-commerce industry. This is due to the current state of the e-commerce economy that tends to be favorable to many. For instance, Singapore’s e-commerce income amounted to S$3.74B in 2018 and it is projected to hit a growth rate of 10.1% annually.
If that figure makes you believe that e-commerce has reached its apex, you will be shocked. According to statistics, the cumulative sales recorded from e-commerce are expected to increase up to S$7 billion by 2025. That is a good reason for any entrepreneur to invest in this lucrative venture.
While some entrepreneurs have managed to launch their e-commerce sites successfully, the majority of them have failed terribly. That is a clear sign that success isn’t assured even in the most flourishing industry. Then, what’s the key difference between the flourishing and pugnacious players?
Read through to find out everything you need to know about managing an e-commerce website.
Here are some of the tips to manage a burgeoning e-commerce industry in Singapore. These tips will assist you get high conversions for your online store.
8 Tips for Managing an E-commerce Website
Plan a Professional Launch
The launch of your site must look sturdy and inspirational. That’s to say that you will only launch your e-commerce site in Singapore once you are certain you have completed all the required groundwork and there is no single loose end to it.
Internet plays a vital role in putting you on the international platform and given the fierce competition in the e-commerce field, you will have a chance to display your best. You can decide to buy a domain name and put up a fancy “COMING SOON” message until you prepare yourself for the huge launch. Additionally, take time to create a social media account and define the content marketing strategy before flirting with ideas about the launch.
Purchase a Premium Website Hosting Package
Speed is an important aspect when it comes to running a successful e-commerce site. Every web page must load fast and produce high conversions. Recent findings indicates that even a single second delay in a web page load time will result in a 16% decrease in client satisfaction and a conversion loss of 7%. So, make sure you invest in a premium web hosting package.
Reduced Site Downtimes
When planning to set up an e-commerce site in Singapore, you need to make sure it does not experience any downtime. Every time your site collapses, sales are lost. The impact can be huge such that you will have to lay off your workers during the time of downtime.
The ranking of your e-commerce will also be affected if the user accesses and close the site after they see the downtime mistake. Moreover, this will damage your reputation big time. Therefore, it’s important to handle the downtime issues on time and effectively before they turn to a bother. Make sure you invest in a state-of-the-art backend server to minimize the downtime.
Innovation is king
Just like we mentioned above, the competition in the e-commerce field is fierce and you can’t get recognized if you create a site that looks like the ones that are already on the internet. To make online buyers ditch their favorite e-commerce site, you must introduce something new. Business grows or collapses depending on the weight of technology used.
Contemplate of incorporating modern technology such as virtual reality, allowing consumers to get a great look and feel of your products. You can also use drones to offer quick delivery just to stand-out in your competition. Bear in mind that innovation doesn’t always translate to state-of-the-art technology as it can be something simple like engaging content, special offers, and customized mobile apps to invite consumers.
Choose a Unique Niche
While e-commerce allows you to sell anything, that doesn’t imply that you should do it blindly. The fierce competition in this arena can be too challenging to handle. Therefore, it’s advisable to choose a unique niche. This will assist you to create a clear way towards long-lasting success in the field.
For you to get that niche, you will need to do extensive research to understand the preference of your prospective audience. Use surveys and questionnaires to get the answers you seek. In simple terms, having a single target to aim allows you to emphasize and improve your strategies.
Ensure Your Website is Easy to Navigate
The process from how a consumer looks for a product to how he/she places an order must be short and straightforward. The user-experience has a huge significance just like in any industry. The required number of clicks it should take the consumer to successfully close a purchase should range from 4-6.
You can simplify your site by incorporating tricks like clustering, filters, and visual search. These techniques will make it simpler for the consumer to avoid the clutter and promptly get the product they seek.
A premium-Looking Site
The e-commerce industry has become extremely saturated and it’s always claimed that every entrepreneur is trying to provide the same product with different branding. Branding is the keyword and the way your website looks will say a lot about your brand. The greatest e-commerce site is well designed and has a user-friendly interface.
That is because they know that consumers will not complete a purchase if the site has a boring and unattractive outlook. Therefore, it’s best to offer your site a premium and user-friendly appearance. With top-notch quality product images, clearly written description and call to action, you will transform your site to a great online shop.
Trustworthy Logistics Partner
While starting the business, you can partner with a courier company to do the deliveries. With time, you can partner with a logistics company as this will be beneficial to the growth of the business. You will take advantage of the logistic company’s advanced innovation, and an optimized transport management platform.
This means that you will have time to focus on the main operation of the business. Moreover, by gaining the knowledge of your practice model, the logistics company will assist cut down some cost.
Therefore, these are the primary factors that can define if your e-commerce website will be successful or fail. By wisely implementing these strategies when managing an e-commerce website, you are guaranteed to get a better level of efficiency and output in your online store.
Call us today on +65 6789 9852 for a custom e-commerce website design services in Singapore.