Ecommerce business owners all dream of increasing their income and the profits their websites bring in. Depending upon the niche, ecommerce businesses can easily gross thousands or tens of thousands of dollars per day—and those aren’t great big stores like Amazon or eBay. That's just what relatively small one- or two-person online stores can make.
However, a lot of other ecommerce site owners are earning more like $10 per day, not $1,000 or even $100 per day. Some aren't earning anything at all. What's the difference between successful and unsuccessful ecommerce site owners? In truth, there are a lot of things. For the purposes of this article, we'll take a look at three of these key differences.
1. Successful Ecommerce Site Owners Aren't Focused on Getting Rich Quick
The courses and ebooks for sale online about making profits in ecommerce often make ecommerce success sound exceptionally easy—so easy that even a child can do it. When new ecommerce site owners don't meet with instant success, or when they don't make thousands of dollars in their first few months, they often become discouraged. Some even give up.
Successful ecommerce site owners know their website is a business and, like all businesses, will take time and love to grow it.
Your takeaway tip: Be patient.
2. Successful Ecommerce Owners are Willing to Spend Money
You know the old saying, "You have to spend money to make money"? That's just as true online as it is offline. New site owners are often reluctant to put money into key aspects of their business, especially professional website design and marketing. At the very, very least, new site owners should be paying for premium ecommerce website platforms and themes, like Magento. Better yet, hire a professional website developer who can walk you through the early stages of developing and marketing your ecommerce business.
Your takeaway tip: Don't throw your money around, but don't be a cheapskate when it comes to your business.
3. Successful Ecommerce Owners Understand How to Personalize Their Websites
Imagine you can tell 1,000 people about the amazing product or service you sell through your website. Who would you rather tell: 1,000 people who aren't that interested in those kinds of products, or 1,000 people who you already know have an interest in exactly what you offer?
That's a no-brainer.
Despite the fact that 1,000 people who are already interested in what you do are much better prospects than 1,000 people who aren't that interested, many site owners continue to market to that second group of 1,000 while letting the first group slip through their fingers. Adding personalization to your website and to your marketing will stop that slippage and hugely increase the number of conversions you get.
Before you run off to reinvent the wheel on personalization, take a look at this great, free ebook from HubSpot, the marketing automation company. The ebook will teach you what personalization is, easy ways you can add personalization to your marketing strategy, and how to integrate personalization with Magento, which is one of the most popular platforms for ecommerce websites.
Your takeaway tip: Go download the book –c'mon, it's free. Then apply what you learn to your site right away.
Summary: To Succeed in Ecommerce or Not to Succeed: That is the Question
If your ecommerce site is struggling—or even if you've met with some decent success—compare your own way of approaching your business to what successful ecommerce site owners are doing. It could be that you're just not spending the time and money you need to grow your business, or it could be that your marketing lacks any kind of personalization. Solve these problems, and you can definitely meet with success.
How else do successful ecommerce entrepreneurs differ from unsuccessful ones? Share your ideas in the comments section below.
Originally published May 14, 2014 2:00:00 PM, updated October 20 2016