When examining how to make your ecommerce business successful, it’s easy to get caught up in website design, SEO (that’s creating content that helps drive traffic to your website), colours, fonts, and all the rest of what makes your website look good. But even the best looking and best designed websites, with the best SEO content fail as ecommerce businesses.
The main reason for ecommerce businesses failing to achieve the success they originally promised their owners is an inability to convert visitors to buyers. This is highlighted by an average shopping cart abandonment rate of 68%: potential buyers get to the point of buying, and then decide not to.
Recent surveys have pointed to a number of reasons for shopping cart abandonment, but they all add up to a single word: trust. If, when ‘at the checkout’, the customer decides your ecommerce business can’t be trusted, the shopping cart will be abandoned probably for the customer never to return.
How your ecommerce business can learn from Amazon
Amazon is the world’s largest retailer. Sure, it has added new products (Kindle comes to mind, and ebooks have boosted customer loyalty, but there is also the Fire tablets and its latest Firefly phone), but its success owes far more to other factors. When you take a long hard look at Amazon’s ecommerce business model, it does four things exceptionally well; all of which help build customer trust and loyalty.
Transparency and trust in an ecommerce business
Amazon’s policies concerning buying, paying, shipping, and returns, are very clearly laid out in layman’s terms. It understands it customers’ needs and concerns, and demonstrates this with its branding and customer service levels.
Security of payment in ecommerce
When customers get to the checkout, with a full cart, Amazon customers know their card details are safe. It is the responsibility of an ecommerce business to ensure third party payment providers are PCI DSS compliant. Amazon’s reputation is second to none.
Use customer testimonials to boost your ecommerce business
There is no marketing better than word of mouth. The ecommerce business equivalent is the customer testimonial: a customer is able to see exactly what others think of a product or service sold on Amazon. Research has shown that more than three quarters of online shoppers conduct online research before putting a single item in their shopping cart. By allowing testimonials to be easily accessed and read, you are helping this process.
Easy payment processing leads to easier online conversion
Amazon helps its shopping cart conversion rates by providing one-click purchase, but also by providing clear guidance on how payments are processed and from what security card-users benefit. A third party provider will be able to provide all these details, and many customers feel even more secure when a third party payment processing provider’s logo is displayed on screen.
You may not be Amazon just yet, but remember that Amazon was once an ecommerce business as small as you are today. Your success will ultimately be measured by your shopping cart conversion rate, which is why choosing the right partner for your payment processing needs now is so important. A satisfied customer will spread the word at a faster rate than any amount of SEO or website design spending.