5 Characteristics common to almost all successful online businesses

successful online businesses

The online e-commerce market has been catching up in India like wildfire and is growing leaps and bounds. However, where some players in the market are doing very well, the others are struggling to keep up. The reputation a business builds in the local as well as the national market is crucial for its sales and the clientele it attracts.

With advancements in the field of technology and growing consumer awareness, the online markets are dynamic and changing with time. Almost all walk-in stores are trying to expand markets by going digital as it is more convenient and offers better outreach. But, not all websites are doing well because understanding the core of the online market is not easy and requires certain characteristics and features will enhance the website and its offerings. One name that you can vouch for is Amazon. This is the biggest place where you can sell your products across the world using the option of Amazon vendor central.

Here are 5 things common to almost all successful online businesses:

1. Good image of the online brand in the minds of the consumers

The online businesses which are very successful have built a positive perception in the mind of their consumer base which is why they keep coming back for repeat purchases. Also, through their existing base and communication strategies, they attract a potential target audience.

Amazon.in, BookMyShow and Swiggy are online business in different markets which are successful because of the positive image and great service rendered out to customers.

Even though Snapdeal is a leading market player, people don’t perceive Snapdeal to be great because of repeated late deliveries and low quality of products faced by some customers.

2. Shopping cart abandonment solutions

Every Online business has faced the shopping cart abandonment issue where customers just add things to their cart but never really purchase them. This happens due to various reasons- the customer might change his/her mind, better deals on other sites, coupons not working etc. Installation of live chats has hit the online markets by a storm and businesses are trying to use this method to stop customers from abandoning their cart during checkout.

Offers like “30% off on shipping if you complete this transaction in the next 30 minutes” along with cart abandonment e-mailers sent out can also reduce this problem. Also, offer you customers the option of wish list so that they can save items for later.

3. Live chat services

Customers feel more satisfied if they have someone to live chat with while shopping as they might require assistance. This also plays with consumer behaviour as the customer believes that he can avail real-time assistance whenever he wants to. in this way, the business is connected to the customer and can provide solutions instantly.

This is an easy method to gain more customers as a chat window is all it takes to make the customers more likely to buy your products.

4. Customer satisfaction

For an online business to prosper and do well, it is very important to focus on the customer satisfaction aspect as a loyal base assures repeat purchases. When people have a good shopping experience with a website, they are more likely to come back and shop for more products the next time.

For instance, Amazon.in gives utmost importance to customer service through prompt e-mails and query solutions.

5. Constant growth and expansion

Because the online markets are so dynamic, a business cannot afford to become stagnant in the scenario. Hence, all business keep launching new products and venturing into new markets to expand their business.

For instance, OYO rooms started off with offering rooms at budget hotels but has now expanded into OYO prime and OYO cafe as well.