Keep customers (Bad Product Offering, Bad Pricing / Value, Poorly Designed Site, etc.)
Provide a good service
The top ten reasons why E-Commerce startups end in failure:
Poor online marketing – 37%
Lack of online search visibility – 35%
Little to no market for their products or services – 35%
Running out of cash – 32%
Price and costing issues – 29%
Got outcompeted – 23%
Retail giants dominating a large share of the market – 19%
Lack customer service – 16%
Poor team around them – 14%
Product mistiming – 11%
Typical traits of successful E-Commerce stores:
Customer experience above everything
Brand appeal
No unnecessary extra costs
Social proof (testimonials and reviews)
Accurate product descriptions and specifications
Top-notch customer service
Quicker website load speeds
Abandoned cart recovery
Average conversion rate on non-promotional events is 3-5%.
According to Shopify statistics conversion rates for sales channels are:
4.29% for email campaigns
3.04% for organic search
2.93% direct
1.81% social media referrals
Facebook is unsurprisingly number 1 as a source of social traffic and sales. Almost ⅓ of all social media visits to Shopify stores come from Facebook.
Facebook has the highest conversion rate among all social media e-commerce traffic – at 1.85%. 85% of orders originating from social media from Facebook traffic.
On average, email campaigns and general SEO efforts geared for general search engine (Google, Bing, etc.) queries produce the highest conversion rates. Small-budget paid ad campaigns did not fair well.
66% of online sales and over 70% of traffic is now through mobile devices. (Is your store optimized for mobile?)
