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The fact that 90% of online stores fail is a tad scary. All online merchants will encounter challenges, and only those who solve problems creatively survive – the eCommerce world is cutthroat.
Imagine it: your online store was once thriving and now it isn’t. Traffic has slowed down, leads are hard to come by, and no matter what you try, nothing sticks.
Thankfully, others have launched online stores before you, made mistakes, and learned from them. Their experience is your wisdom. In this article, we’ll be running through the top worst-case scenarios online sellers face, as well as what you need to do to avoid them.
Data breaches are bad news for everyone – and they’re more common than online sellers might think. In fact, research has shown that data breaches rose in 2021 and that 294 million customers around the world were affected.
Worse still, cybersecurity incidents rose by 20% in 2020 in the eCommerce sector. What type of cyber threats might an online store face?
Fortunately, there are ways that an online store can protect itself and its customers. Here are some tips:
All in all, it’s important that you take the time to carry out cybersecurity analysis at your store to stay on top of things.
If your competition consistently outdoes you, profit margins will shrink – and you’ll effectively be left without a business. Since the eCommerce world moves at such a fast pace, keeping up with demand and your competitors can be challenging.
Your competitors will look to outdo you on things like branding, pricing and products. They might lower their prices; they might be better at marketing than you – or they might simply have better products.
The good news is that each challenge can be avoided. Here are some tips:
Organic traffic helps you increase sales, generate more leads – and it’s actually really cost-effective when compared with paid search. Besides, organic traffic is responsible for 53% of all traffic.
However, even if your organic traffic is looking nice and steady, it can still tail off dramatically. How come? There are a few reasons, including:
The good news is that all of this can be avoided. A perfect solution is to hire an SEO professional or partner who’ll monitor your website, traffic, and SEO campaigns, as well as look out for glitches, changes in the Google algorithm, and track search intent.
Other solutions include:
A fully optimized supply chain is key to the success of your online store. When you have supply chain concerns, such as transportation costs related to high freight rates, inadequate infrastructure, and inefficient inventory management, you might experience an overstock or an understock. That potentially leads to delays in delivery to your customers.
Data also shows that 79% of businesses that optimize their supply chain are able to increase their revenue compared to those that don’t. To ensure you don’t run into supply chain issues, here are some things you can do:
Even when you manage to generate leads and attract more customers while outperforming the competition, a poor customer experience can still turn them away. Beefing up your security will help a lot, as will offering an omnichannel shopping experience and first-rate customer support.
Other than that, it’s also important to monitor eCommerce trends to ensure that you don’t lag behind when – among other things – new technologies emerge or the customers change their shopping behavior.
*** This is a Security Bloggers Network syndicated blog from Blog Feed authored by Blog Feed. Read the original post at: https://www.globalsign.com/en/blog/4-worst-case-scenarios-online-stores
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The Home of the Security Bloggers NetworkHome » Security Bloggers Network » 4 Worst-Case Scenarios for Online Stores – And How to Prevent ThemThe fact that 90% of online stores fail is a tad scary. All online merchants will encounter challenges, and only those who solve problems creatively survive – the eCommerce world is cutthroat.Imagine […]
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