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Pinakin Darji SEO Expert | KNOWARTH Technologies
SLIDE TITLE On one hand online shopping has transformed into a simplified, way of transacting, Click to editprofitable Master text styles on the other it has managed to lure most Second level businesses into its enviable charm. Creating an Third level online platform that is feasible, easier, Fourth level trustworthy, andmost importantly, one that Fifth level generates most revenue is not an easy job.
Unfortunately most startups fall for the ‘It is not a big deal going online’ trap and end up with not so happy results. Yet E-commerce is an emerging and evolving industry, here’s an attempt to help you distinguish misconception and reality. © 2015 KNOWARTH Technologies Pvt. Ltd.
SLIDE TITLE 10 Common Misconceptions about E-Commerce Click to edit Master text styles Second level Third level Fourth level Fifth level
© 2015 KNOWARTH Technologies Pvt. Ltd.
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10 Common Misconceptions about E-Commerce
Misconception 1: Revenue is the foremost metric to Click to edit Master text styles measure Second level
Reality: You need a strong financial base to buy ThirdThe level merchandise, Fourth level pay your employees and stay breakeven among a million other things. But there are several web Fifth level metrics like your search engine click-throughs, conversion rate, and bounce rate that can paint a better picture of where your company stands financially and will give you a more realistic view of your online presence.
© 2015 KNOWARTH Technologies Pvt. Ltd.
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10 Common Misconceptions about E-Commerce
Misconception 2: Low Prices = More Customers Click to edit Master text styles Second level Third level The Reality: The price battle will always exist, so will the Fourth level consumer psychology of “pay less and get more”. But the final purchase decision, especially in case of an online store, Fifth level is made through factors like availability of product, inventory management, brand popularity, loyalty, credibility, and round the clock customer support. So price your products based on the quality and not on herd mentality.
© 2015 KNOWARTH Technologies Pvt. Ltd.
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10 Common Misconceptions about E-Commerce
Misconception 3: All E-Commerce Click to edit Master text styles platforms are created equal Second level Third level The Fourth level Every product has its own way of selling itself, Reality: Fifth and no two level purchase processes can be exactly alike. The
time, money and energy invested in buying a cell phone will be different from that of a shampoo. So understand the mechanisms of your product and create a feasible site for selling it online.
© 2015 KNOWARTH Technologies Pvt. Ltd.
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10 Common Misconceptions about E-Commerce
Misconception 4: Oncetext thestyles site is live, it will start generating Click to edit Master traffic Second level Third level Fourth level
The Reality: Fifth levelSuccessful ecommerce ventures use professional techniques like SEM, SEO, SMM, PPC advertising, etc. and will actively promote their brand to build a market place. All this coupled with internet marketing will drive traffic to your online store.
© 2015 KNOWARTH Technologies Pvt. Ltd.
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10 Common Misconceptions about E-Commerce
Click to edit Master Misconception 5: You don’t need to have business text styles experience to level succeed online Second Third level The Reality: Fourth level Building an online business is the same as building brick and mortar company. You need a Fifthalevel strategy, you need a business plan, and you need some good experience. You need to build a clear definition of the company’s target markets and have a thorough understanding of your customers’ needs. It is no different than running a physical store.
© 2015 KNOWARTH Technologies Pvt. Ltd.
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10 Common Misconceptions about E-Commerce
Misconception 6: Running e-commerce store is much Click to edit Master textan styles cheaper than a real world store Second level
Third level The Reality: E-commerce is a process, a journey to Fourth level improve experience. It is more than just a Fifth customer level catalog and you need to realize that it is not cheap. Ideally, it follows the process of carefully planning the venture, keeping realistic expectations, committing to a long term business and a focusing on profit generation.
© 2015 KNOWARTH Technologies Pvt. Ltd.
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10 Common Misconceptions about E-Commerce
Click to edit Master text styles Misconception 7: Product Data is easy Second level Third level Fourth level
The Reality: The more the products the harder it gets to Fifth level manage. Putting up loads of information about the product will only do the job of a brochure. What you need to do is arrange for generating conversion, have outstanding visibility, ensure appealing call to actions, and a plan a hassle free layout.
© 2015 KNOWARTH Technologies Pvt. Ltd.
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10 Common Misconceptions about E-Commerce
Click to edit Master text styles Misconception Second level8: Design is not a motivating factor Third level Fourth level
The Reality: Fifth levelA survey suggests that consumers will make a purchase decision in the first few minutes that they spend on your site. The factors that play around here are the design, the security and the layout. Be aware that if you focus on being a price leader and overlook the design aspect, you could be viewed as a “possible scam”.
© 2015 KNOWARTH Technologies Pvt. Ltd.
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10 Common Misconceptions about E-Commerce
Click to edit Master text styles Misconception 9: Language cannot become a barrier Second level Third level Fourth level
The Reality: Fifth levelResearch has shown that less than 30% of the consumers do not buy from stores that don’t support their native language. If you’re looking at a global audience, let your website support multiple languages. Because even if the products seem visually good, customers may not buy them if they don’t understand the language.
© 2015 KNOWARTH Technologies Pvt. Ltd.
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10 Common Misconceptions about E-Commerce
Misconception 10: Your Ecommerce website is the total Click to edit Master text styles plan of your online business Second level Third level Fourth level
The Reality: Your website is only one single part of your Fifth level business plan. Analysis of the current trends along with potential risks, efficient marketing and promotional strategies are all a part and parcel of your online store set up.
© 2015 KNOWARTH Technologies Pvt. Ltd.
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10 Common Misconceptions about E-Commerce
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So go on then, get your online store up and running soon! Second level KNOWARTH’s E-Commerce development experts build robust and Third level scalable E-Commerce Solutions that delivers the best user Fourth experience right from level a front-end solution using the latest interface technologies and back-end architecture to solve a systems Fifth level integration problem helping you to reach to global market. Commercium assists Brick and Mortar stores in developing and driving maximum revenue from their e-store and ensure that their customers can buy the products from anywhere anytime using any device
© 2015 KNOWARTH Technologies Pvt. Ltd.
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Thank you! Fifth level
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