Tips for successful e-commerce website

Besides the traditional sales channel, today more and more brands and new businesses prioritize and invest in the development of sales websites. When the needs of the market change, it requires you to change to survive, grow, and meet the new market.

In this article, we will analyze the factors that affect an e-commerce website's growth and tips for a successful e-commerce website.

Think about it, when everything around you changes over time, and you are still standing in place, you will be left behind, and will not even have a foothold in the new market.

Under the influence of many factors, including both subjective and objective factors, the e-commerce industry has made great strides. Regarding the subjective factor, in a society gradually approaching global integration, people tend to shop online more and more popularly.

They often not only shop at the stores around where they live. Thanks to e-commerce, buyers can buy goods from all over the world. Especially young users are more knowledgeable about technology, the easier it is to shop online.

In terms of objective factors, from 2019 when the Covid-19 epidemic appeared, it has had a great impact on the market economy. At the same time, it is also an opportunity to develop the e-commerce industry as well as promote the technology of shopping and selling.

So, the first thing we need to think about to meet this trend is how to grow an e-commerce website.

Figures to evaluate a successful e-commerce website.

Building a successful commercial website and growing it is not easy. There are many criteria to evaluate an e-commerce website. Let's first learn those criteria to know what we need to do to develop our website.

1. Short-term valuation.

• Website CPO, CPA, ROAS

Many people may already know about these terms, but in this article, I will still reiterate the definitions for you to better understand and know their importance in evaluating marketing effectiveness and measuring the success of the website.

• CPO (cost per order) is the average amount spent by your company to persuade a consumer to buy a product or service.

• CPA (cost per acquisition) is the amount your company pays to get a new consumer to buy a product or service.

• The term "ROAS" stands for "return on ad spend" or "revenue on ad expenditure". ROAS is a metric that may be used to assess which marketing initiatives are generating the most income for a company.

To run an e-commerce website well, you need to define your CPO or CPA goals. Determining your price per order or price per acquisition target needs to depend on your business and financial goals to make your store profitable.

• Social channels, Mail list, and Customer data analytics

These are also extremely important factors that determine an e-commerce website's growth.

Social channels: Nowadays when people tend to use social networks more and more, the habit of surfing Facebook, Twitter, Instagram, etc. has almost become an indispensable part of our lives. People often update information, share status, advertise, and even buy and sell on social networks.

Therefore, for more and more customers to know your website, promoting it on social networks is indispensable. Good interactive traffic on social channels shows website coverage, customer interest, and the success of branding investments.

Mail list: Not every customer is eager to leave their email address when shopping or ordering. Only consumers who are interested in the product and the store will leave their email addresses so that they can quickly receive store notifications and receive the latest product information. Therefore, a list of customers with valid emails proves that the business has reached a certain scale and has a stable customer base.

Customer data analytic: Customer analysis reports are usually based on: age, gender, country, products they buy, etc. Having accurate and specific customer data is the foundation for successful advertising campaigns. It is also a data source for product development and service improvement.

• Customer satisfaction

If you do all the steps well but don't make your customers happy, then everything will be meaningless.

Customer satisfaction includes satisfaction with the purchased product, and customer care service before, during, and after purchasing the product. Make sure that besides taking care of your website, take good care of your customers. One of the ways to help you understand your customers better and also to attract new customers is the reviews of customers who have purchased products from your store.

Customer reviews are the most honest reviews that help you know your strengths and weaknesses and are also the most reliable evidence of the product that you can provide potential customers. Therefore, creating favorable ways to encourage customers to leave reviews is extremely necessary.

If you do that, your store will be the first one customers think about when they want to buy something similar.

2. Long-term valuation:

• Stability and Strength

Stability: We say a website grows when it remains stable over time, the number of customers and traffic also increases steadily. More and more people shop online, and if after 1-2 years your website still maintains the same number of customers and sales, it cannot be considered development. Therefore, a website needs to have a stable development process and speed to be sustainable.

Strength: Every business has strengths and weaknesses. For your company's website to grow, you must concentrate on the strengths of your business, constantly refresh and improve your strengths, and examine and discover solutions to overcome the weaknesses to improve.

• Business age, Trademark, and Copyright protection, Market share

Business age: The multiple you earn will be influenced by the age of your company.

A company that has been profitable for less than a year is called young. There simply isn't enough evidence to predict whether or not the company will survive in the market. Businesses from 3 years and above in the market will have proved their worth and can be given a higher multiple.

For example, when you are going to buy a new phone or laptop - things with high value. If you could choose between Apple, Dell, Asus, etc. with a brand you don't even know its name, which would you choose?

Not to mention the price, I am pretty sure that you will not hesitate to choose the famous brands that you are familiar with because it has existed and developed for a long time, as well as have affirmed their position in the market. Why did you choose that? You simply have more faith in those brands!

Trademarks and copyright protection: Trademarks demonstrate that your brand is well-known, registered, and protected by law. This reduces the risk of copycat vendors and counterfeiting products - a constant problem for successful e-commerce enterprises. Also, a protected trademark helps prevent piracy. Help customers identify the origin of the products and services they are accessing.

Market share: Market share is your company's total sales in a particular industry. The higher the market share, the more customers buy your company's products. For example, in the e-commerce industry in 2020, your company has a 35% market share, which means your company's sales are extremely good, accounting for 1/3 of the market.

Tips for a successful eCommerce website

Along with the current development of modern life and information technology, the field of e-commerce is expected to grow continuously in the coming time. You will only see results and success if you approach it correctly. Concentrate on the following tips for a successful e-commerce website to achieve your goal.

1. Prepare well before launching

You only have one time to launch your business website, so be prepared for everything. Please carefully check the website details before putting it into operation, prepare content, marketing methods, marketing communication, SEO, advertising, etc.

Besides, you also need to spend time researching and analyzing customers. Try to put yourself in the customers' position to understand their needs, thereby knowing what your website needs to focus on. Anyway, you can't rush but get ready!

2. Don't ignore social factors and social networks.

As we said above, in an era where everyone's life is tied to social networks, your business cannot stand outside. You will lose a huge number of customers if you do not work closely with social networks.

Facebook, Twitter, Instagram are the most popular social networks today, make good use of them because this is an extremely useful channels to acquire new customers and maintain interaction with old customers.

In addition, include social elements on your website, for example, creating social network links on your website so that customers can easily click to follow you on the social networks they often use is a great idea.

3. Set User-Centered Goals

Putting customers is the center of all thinking and development of the website to serve customers in the best way. Think of your customers and stand in their position every time you are going to do something with your website. For example, design a website, provide photos of products, encourage the customer to leave comments, etc. In general, focus on the user experience.

4. Mobile responsive

A seemingly simple but extremely important thing for e-commerce website growth that sometimes we don't pay attention to is the responsive interface with different devices.

Nowadays, when the number of smartphone users is increasing, people also often have the habit of accessing the internet via phone because of its convenience. So, if you just build your website responsive to a desktop, you've made a big mistake. With today's mobile and tablet traffic, building a responsive website with many different devices is extremely necessary.

5. Focus on SEO ranking

How can customers know your store and buy your products when they can't find you on search engines? Usually, most people will only click on the results on the first search page, so the top search results will increase the rate of sales conversion, and improve your brand spreading and brand recognition.

6. Update information and constantly change

Collecting customer information, user preferences, and trends to analyze and build a database is an extremely important step when you want to build a successful e-commerce website.

Besides, you also need to regularly update customer data, market trends to promptly change, refresh, and improve to help your website develop sustainably.

Developing a successful e-commerce website is always a concern and effort of many businesses. With the criteria for evaluating an e-commerce website growth and the tips for a successful e-commerce website provided above, we hope that you will build your own orientation for your website and achieve your goal. Have a nice day!