Learn from the Ten Best Online Retailers in the World
If you are a business owner, you have undoubtedly realized that the Internet can help you increase your overall sales. Whether you are a one-person operation or a huge company, if you have one or more products to sell, the Internet can allow you to tap into a global market of consumers. However, as you may have experienced first hand, the Internet is not a sure fire way to unload your inventory. While it would be great if all you had to do to dramatically increase your sales was throw up a website and wait for the orders to start rolling in, in reality it requires a lot of work to become a successful online retailer.
If you have been struggling and don’t know where to go for guidance, I highly recommend using the following ten online retailers as models for your own business. According to GrokDotCom, these are the top ten online retailers for the month of May:
Image from Marketing Charts
(These are based on Nielson Panel data and are calculated by user to final conversion. Conversion-rate data is based on visitor conversion rates, not session conversion rates: i.e., No. of unique customers/No. of unique visitors.)
While this is interesting information to look at, the real value comes from examining what these companies are doing to become the top converting online retailers. I have thought of some areas that you should look at if you are interested in using these as models to improve your own online retail efforts, and I would love for you all to share any other areas that you think have value for business owners who would like to learn more from real life online retailers:
Branding: What are these companies doing to not only distinguish themselves from their competitors, but to make their customers comfortable enough to pull out their credit cards and transmit that information over the Internet?
User Experience: How easy is it to go from browsing to checking out on these websites? What kind of steps have they taken to eliminate as much inconvenience as possible for their customers?
Marketing: What kind of online marketing are these companies engaging in? Are they relying solely on organic traffic, or also employing PPC advertising? Are they focusing on any offline marketing efforts?