Digital technology today has completely transformed the world. Only a few years ago, mobile internet was unheard of, but today, shopping is only a few clicks away using smart devices. Businesses have also become savvy by keeping up with the growing demand, as shopping methods are changing quickly. Ecommerce websites with the help of capable ecommerce development services help us find the products we need online in a jiffy. However, there are people who have many misconceptions regarding online businesses. Here, we bust the most common myths surrounding ecommerce.
One of the most fundamental misconceptions is that running an ecommerce business is easy! You do not need to have any business experience to succeed online – just luck and hiring a professional ecommerce website development company to build a well-designed portal is enough for success. Tired of doing a job, fed up with the rat race, start an ecommerce business, seems to be the basis for many entrants into ecommerce. These very people would never imagine opening a physical store. Why is online different? A more pertinent question is what makes online business appear easier than a physical one?
It is easy to get customers online and once the website is launched, sales will immediately skyrocket – another very common misconception! ‘Build it and the customers will come’ seems to be the way for scores of start-ups that look for ecommerce website development. Somehow the fundamentals of marketing and build up seem to be skewed online.
The reality could not be any different as online businesses have to work as hard for sales as offline businesses – if not more, first and foremost by choosing a professional agency that provides competent ecommerce development services! Any thriving ecommerce entity strives to offer quality products, effectively reach out to their target audience through channelized marketing – the same way any offline business would work. But going digital does not necessarily guarantee easier or more sales.
Ecommerce businesses see insane profits.
There’s this incident about a person who had registered a bunch of domain names and wanted a company to help him monetize them. For this person, owning the domain name was as good as owning gold, but his expectations were unrealistic, and his concepts of the dynamics of online markets was far from the ground reality.
But this is a more common problem than it seems. Hundreds of entrepreneurs hold onto some flimsy idea or concept expecting it to make them rich overnight, without understanding the mobility of ecommerce website development. The dream being to sell the business to a VC or some such entity – which rarely ends up as expected and more often leads to disappointment.
Real world experience and expertise translates easily into the online world. Over confidence stemming from real world experience is often a fatal flaw. There is a steep learning curve even for the most experienced business-person when they take their business online. Customer behaviour changes drastically online along with expectations and anonymity.
Ecommerce is equally dependant on analytics as brick-and-mortar shops are dependant on relationships. While approaching an ecommerce development services company, it is imperative to ensure that you get as many statistics as possible, such as unique visitors, bounce rates, conversions, funnels etc., aspects which can be confusing to busines owners who are previously attuned to walk-in customers.
Running an ecommerce portal is much cheaper than a physical store. This misconception has its origins in web design & ecommerce website development agencies that design ecommerce sites for clients at unrealistic prices. But ecommerce is much more than just a catalogue and a shopping cart. Sooner or later those who try to cut cost realize the truth – running an ecommerce business is not cheap.
These misconceptions have been highlighted to provide a reality check for newbies who want to get on the ecommerce bandwagon to make a quick buck, without realizing the efforts that go into building a successful ecommerce brand!
Ideally people must:
- Carefully plan their ventures considering all business factors
- Have a business mentor who is experience in the vagaries of ecommerce
- Have realistic expectations from the venture
- Commit to the long term instead of despairing over initial hurdles
- Enjoy the experience, as the journey is immensely rewarding and enriching
If you are looking for ecommerce website design & development services, get in touch with the experts at Smart Sight Innovations for a free quote.