Key Ingredients Required for a Successful E-Commerce Business

ecommerce-websiteThis is a guest article by Carlo Pandian, a freelance writer who blogs on e-commerce, small business and technology covering everything from management software to the online customer journey. When he’s not online, Carlo likes visiting the countryside and going out for a BBQ dinner with his friends.

What Are the Key Ingredients Required for a Successful E-Commerce Business? 

Why is it that there are so many ecommerce websites which flourish and find great success and so many others which simply drift along and eventually fail? What are the basic ingredients that are necessary for e-commerce businesses to have in order to be successful? There are a few things that successful ecommerce websites will have in common with each other and these secrets to success can be applied to your business. Here are a few of the traits that highly successful ecommerce companies have and why they are crucial on the path to success:

A Clear Vision and Goals

In order to achieve great things in the world of ecommerce you need to know exactly what you want to achieve. Having a laser focus on one specific goal will prevent you from getting bored, burnt out or discouraged. Sit down and set some very clear goals for your online business. Don’t worry if they are quite lofty, the excitement of big goals will make you more motivated to achieve them. Start with the big idea, then work backwards and figure out what steps you need to take to get yourself there.

A Commitment to Continuous Improvement

A successful ecommerce business is not something that you can simply set up once and then receive continued growth from forever. In order for your business to keep on growing and getting better, you need to be constantly learning, growing and improving. Many businesses will entirely redesign their website every six to twelve months. The best businesses are always thinking about what they can do to improve their user experience as well as their products and services. Resting on your laurels is dangerous when you are running an online business, because you never know what might happen and which newcomer might sweep underneath you and take some of your business.

Search Engine Optimisation

Another important ingredient in a successful E-commerce business is search engine optimization. You need to be able to rank high in search results so that you can bring in more traffic. The more traffic you bring in, the more sales you are able to make. If you are not optimised for search you are losing out on a lot of online business. If you are not an expert in SEO yourself, it is worth it to hire a professional SEO consultant who can help you to maximize the potential of your website and get more people visiting. You can also look at other ways of attracting attention to your website such as blogging, press releases, content marketing, videos, social media and much more.

An Easy to Navigate Website

The truth is that no matter how great your products are, if your customers can’t navigate their way around your website to find them then they will not buy them. Your website should be as usable as possible so that your customers can get around easily and navigate their way to the products and services that they are interested in. Sometimes websites overcomplicate things, which can cause users to give up in frustration and abandon the purchase. Pay attention next time you order something on another ecommerce website. Was the experience streamlined? Did you have any problems along the way? How could you improve on it?

Strong Money Management Skills

This is an ingredient which is crucial in any small business, because you need to be able to manage your finances if you want your business to be sustainable. Luckily, if financial management isn’t your strong suit there are plenty of great programs out there which will help you such as the QuickBooks Online invoicing software so that you can keep all of your orders and files organized and stay on top of your accounting. These are just a few of the most important factors that you will need for a successful eCommerce website. With these important ingredients and the right attitude, you will be well on your way along the path to success.

Infographic by Competitions.com.au

  • http://www.havefunandprofit.com/ Jordan@How to Start an Online Business

    Hi Damien, I really love this article of yours. These key ingredients for a successful e-commerce business is just perfect for everyone who wishes to join the world of Online Business… What is difficult for almost everyone is the “Strong Money Management Skills”. This is where most business falls down apart. Thank you for sharing this. I really like this article.

  • http://cogentys.com/ Gary Stein@Learning Management System Software

    These are great keys to being successful in eCommerce. I think having SEO skills is a HUGE plus.

  • http://www.mzihc.com/ Andrei@healthcare software

    Great guest post, Carlo! I love that you shared the infographic. Can I use it for my own blog? Anyway, these are some useful data. The numbers are very relevant especially for mobile marketers and everyone in the e-commerce field. What I like best about your article is that it reminds me to commit to continuous improvement.

  • http://blog.foundermates.com Raunak Guha

    Hi Damien,
    One of the key aspects to create a successful e-commerce site is to go niche and not try to do everything and anything under the sun which big players can afford to do. Going niche, can help you charge premium for your product and you sell low volume but high margins. Here is an article I published after doing an interview with an e-commerce expert from India: http://blog.foundermates.com/in-e-commerce-new-comers-should-find-niche/

    • Damien Elsing

      Great article, thanks Raunak.