4 mistakes to avoid with your first eCommerce business

Starting an eCommerce business is a great way to make money and enjoy the benefits of international sales. While it takes a lot of work, you’re not alone. According to Insider Intelligence, U.S. eCommerce sales are expected to exceed $1 trillion for the first time in 2022. However, there are some things that can trip you up along the way. To help you succeed, here are four common mistakes to avoid when scaling your eCommerce business.

1. Not targeting your market

Unless you’re Amazon, you can’t be all things to all people. Take some time to create a business strategy and do the research to understand your market. Are they luxury buyers or bargain shoppers? Millennials or Baby Boomers? DIYers or folks that want a ready-made solution? Before creating your eCommerce site, make sure you know who you are selling to.

2. Poor navigation and search

If your customer can’t find what they’re looking for, you won’t make any sales. Your eCommerce store has to be inviting, easy to understand, and easy to search. Otherwise customers will move on to the next vendor. Nothing can discourage a potential customer from making a purchase like poor store navigation. This means clear product images, accurate product descriptions, a simple checkout process, and an easy way to get back to the home page.

3. Creating the right pricing strategy

Just like understanding your audience, creating the right pricing strategy takes some time and research. First, you’ll need to consider all the costs involved in selling your product — your time, marketing, shipping — and then figure out what your customers will pay while also allowing you to maximize your profit margins.

4. A complex checkout process

You can’t make a sale if your customer can’t check out. The easier for your customer, the better. When thinking about a simple checkout process, consider what it will take to collect funds, convert multiple currencies, and apply the appropriate taxes from a local and global perspective.

By avoiding these four common pitfalls, you can set your first eCommerce business up for success. Taking this advice into consideration from the beginning gives you a leg up when it comes to the competition. As you continue to grow and scale your business, finding the right global payment partner can help improve your customer service and create seamless payment options.

Scale your eCommerce business today with LianLian Global.