Growing a small business is no easy feat. Knowing where to focus your limited time and resources like Common Thread Collective can be challenging with many competing priorities. If you’re looking to grow your e-commerce business in 2022, these are the five areas you should focus on.
What Is E-commerce?
E-commerce, also known as electronic commerce or online commerce, refers to buying and selling goods or services over the Internet. With e-commerce, businesses of all sizes can reach a global audience of potential customers and conduct transactions without needing a physical storefront.
E-commerce has become increasingly popular in recent years, as technological advances have made it easier for businesses to set up and operate online stores. According to a report from Statista, global retail e-commerce sales were expected to reach $4.13 trillion by 2020.
Types of E-commerce Businesses
There are four main types of e-commerce businesses:
- Business-to-Business (B2B): B2B e-commerce involves transactions between two businesses, such as between a manufacturer and a wholesaler or between a wholesaler and a retailer.
- Business-to-Consumer (B2C): B2C e-commerce refers to transactions between businesses and consumers, such as between an online retailer and an individual customer.
- Consumer-to-Consumer (C2C): C2C e-commerce describes transactions between two consumers through an online marketplace like eBay or Craigslist.
- Consumer-to-Business (C2B): In C2B e-commerce, consumers sell goods or services to businesses, such as when freelance designers sell their services to companies on Upwork.
Diversify Your Product Offering
In the realm of transport logistics, differentiating your business becomes crucial when selling similar products as competitors. To attract new customers and stand out, consider diversifying your product offerings. This may involve introducing new categories, forming partnerships for exclusive products, or carefully curating your product selection.
Invest In Search Engine Optimization
Search engine optimization (SEO) is one of the most effective ways to drive traffic to your e-commerce store. Optimizing your website for relevant keywords can increase your chances of showing up in search engine results pages (SERPs), ultimately leading to more website visitors and potential customers.
Offer Free Shipping
According to a report from UPS, nearly 60% of shoppers said they would abandon their purchase if they faced unexpected shipping costs. If you’re not offering free shipping, you could lose out on a significant portion of potential sales. If free shipping isn’t feasible for your business, consider submitting it for orders over a certain amount or providing discounts on shipping fees.
Increase Your Social Media Presence
Social media is a powerful tool that can be used to reach new audiences and drive traffic to your e-commerce store. Consider investing more time and resources into promoting your store on social media platforms like Instagram, Facebook, and Twitter. In addition to organic growth strategies, you can also use paid ads on social media to reach an even wider audience.
Improve Your Website’s User Experience
Within the realm of IT priorities, the impact of a negative encounter for potential patrons exploring your e-commerce platform cannot be underestimated. Hence, consistent evaluation and enhancement of your website’s user experience hold paramount importance.
Streamlining the checkout process, validating link functionality, and optimizing page loading speed constitute pivotal strategies to elevate user satisfaction and drive conversions.
Final Thoughts
Growing a small business takes a lot of hard work and dedication. Suppose you’re looking to grow your e-commerce business in 2022. In that case, these are the five areas you should focus on diversifying your product offering like Common Thread Collective, investing in SEO, offering free shipping, increasing your social media presence, and improving your website’s user experience. By focusing on these critical areas, you’ll be well on your way to achieving success in the coming year.
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Source by geekinsider.com
