5 truths ecommerce business owners need to understand

It’s very easy these days to set up an online business selling products. You don’t have to be an expert in web design or even create your own products.

Thousands of keen entrepreneurs in the UK set up new online retail businesses every year. According to research from Instant Offices, using data compiled from Companies House, over 24,000 ecommerce businesses were started in the UK in 2023.

Ecommerce platforms like Shopify and Woocommerce to name but two, make creating a selling platform incredibly easy. Then you can either sell your carefully crafted or manufactured items, buy stock in or even drop ship, and you’re in business.

The trouble is, it’s not as easy as people first think. And many give up early (within the first 4 months) without seeking the support that will help them.

There are a few key things that ALL ecommerce owners simply must understand in order to succeed.

Ecommerce is a numbers game. If you’re not looking at your numbers, you won’t know how to win the game. This means you MUST be looking at your analytics. Regularly. Shopify has a great built-in analytics system but you’ll also need to use Google Analytics (it’s free!) to really get into the detail and integrate all the other marketing elements you use, like social media and email marketing.

There IS an audience out there who is desperate to buy your products but you need to make it easy for them to find you. Use ‘discovery’ strategies to bring in a steady flow of traffic. SEO and outreach marketing like lead magnets (yes, lead magnets for retail!) will bring new visitors your way.

Experience is everything. It’s what attracts customers AND what will keep them coming back so make the shopping experience on your website the best it can be. Extend that experience to post purchase as well – this is often forgotten. The relationship customers have with you doesn’t end once they click ‘buy’. 

There is much to be gained by taking small steps. Never underestimate the impact something small could have. Many progressive small steps add up to a substantial leap forward, which directly impacts the sales you make and the profit in your pocket. Aim for these small, marginal gains every day. 

Email marketing is THE BEST THING you can do for your ecommerce business. Email continues to perform at a far higher conversion rate than any other marketing channel. Focus on email as your no. 1 marketing activity and it’ll pay off big time.

Can you tick off these 5 truths? Or is there work to be done? 

If you’re one of the 24,000 new ecommerce businesses set up in 2023 and you find you might be struggling a little, don’t give up! I can help you. There’s always free support in my Facebook Group here, and I offer a free call too where I can give you some personalised help straight away. Just click here and book your call in today.

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