7 Most Important Pieces of Information Every Online Store Should Share
Millions of e-commerce websites — many of which are small and medium-sized businesses (SMBs) — are competing against each other. While maintaining a hold in this market seems impossible, the secret to success is straightforward. Decision-makers should simply tell their customers what they want to know.
Capitalizing on the Success of the E-Commerce Market
The global e-commerce market is booming. Analysts expect it will achieve an estimated 9.49% compound annual growth rate from 2024 to 2029, generating trillions of dollars annually. SMBs may not get the largest slice of the cake, but there is still reason to celebrate. If they appeal to consumers, they may significantly increase their revenue.
Even small enterprises can take advantage of this growth with the right strategy. The key is their messaging. What they share with customers affects their bottom line.
Since analysts expect the e-commerce market to experience immense growth, the number of online stores will soon balloon. Transparency will be key for firms trying to maintain their hold within their niche. The more information they share on their pricing techniques and policies, the more browsers will trust them, granting them a competitive edge.
Key Pieces of Information You Should Share at Checkout
Sharing these four key pieces of information during checkout can help you convert, increasing your revenue.
Checkout Security
How do you secure the checkout process? Many consumers will only trust your website if they know what security technique or tool you use, so make it clear on the page where they enter their card details. The payment card industry data security standard has been the global standard for securing cardholder data since its release in 2004, so it is ideal.
Shipping and Delivery
Besides price, the delivery estimate is one of the most important considerations for online shoppers. They want to know precisely when their order will arrive. Real-time updates and global positioning system tracking are great features to have.
A delivery estimate guarantee can inspire confidence. It is not even a risky business move if you have reliable carriers. A minimum 95% on-time performance is already required by many big-box retailers, and this expectation will likely become the standard within five years.
Stock and Backorders
Imagine getting to the final confirmation page during checkout just to realize the item you are trying to purchase is out of stock. Not only would that frustrate you, but it would discourage you from buying from that brand again.
A stock counter provides key information. It may even cause a fear of missing out, driving sales.
Display the backorder date for out-of-stock items. At the very least, share that you are working on getting that product listing back on hand. If people know you will replenish your stock soon, they will likely return and convert.
Other Pieces of Information to Share With Your Customers
While building trust through transparency during checkout can drive conversions, several other opportunities exist to display essential messaging throughout your online store.
Customer Reviews
Shoppers value existing customers ‘ opinions since there is no way to try on, feel or even see an e-commerce product in person before buying it. Ninety-seven percent read online reviews before doing business with a new company, so do not give them a reason to leave before converting. Display reviews, case studies and testimonials on your site.
The Return Policy
Returns are common in the e-commerce sector. Sometimes, items appear different online than they do in person. Other times, the individual does not need the item anymore thanks to late delivery. Whatever the reason, they are almost inevitable.
Outline your return policy. How long is the return window? Are there any exceptions? Be transparent. In addition to building trust in your brand, you save yourself trouble later on by pointing to your clearly outlined policy when angry customers demand special treatment.
Pricing and Promotions
While sharing pricing history seems counterproductive, it promotes customer retention by building trust. While it may delay conversions — people may want to wait for a better deal — a price drop can encourage a surge in conversions. It may also inspire a fear of missing out.
Another way to share essential pricing information is to display shipping and payment processing fees. Fifty-five percent of online shoppers abandon their carts at checkout due to unexpected costs, so be honest about them upfront to avoid losing sales.
Contact Information
How do people get ahold of you if they have a question, concern or complaint? Clearly display your contact information throughout your website. Ideally, you should offer multiple channels of communication. Website visitors shouldn’t have to hunt through your site to find your customer service department’s email address.
Achieving E-Commerce Success With Key Messages
The e-commerce market is growing daily, and SMBs do not have to settle for the smallest slice of the cake. They build trust by appealing to individuals’ wants through messaging transparency. Once they increase their customer retention, they may even be able to compete with successful big-box retailers.