With estimated online sales totalling $40.83 billion for the year 2014 and more projected in 2015, the eCommerce industry in Australia is becoming more attractive each passing year. Online businesses have revolutionized the way retail sales are conducted in Australia. And it is projected that online sales will continue to grow in popularity in the coming years presenting significant opportunity for eCommerce businesses.
Online selling can be conducted 24 hours a day and seven days a week. This presents a great opportunity for online businesses to earn windfall returns on investment. Thanks to the ease of setting up a business online, budding entrepreneurs can easily create a start-up business without investing huge amount of money. However, there are certain challenges and roadblocks that business owners have to face when setting up an online business. Here we will take a look at three main challenges faced by fledgling online businesses and the tactics that can be employed to overcome them without much difficulty.
Challenge #1: Constant Flux
The foremost problem faced by online businesses is that the technology and consumer trend is always on the flux. Keeping up with the evolving technology is important if the online businesses want to remain afloat. If the start-up business does not adjust its tactics in line with changing technology and trends, it will lose out on the opportunity of boosting revenues, and even go out of business.
Challenge #2: Satisfying Online Customers
The survival of online business depends on satisfying online customers. Satisfied customers will lead to repeat clients increasing revenues of the company. However, keeping online customers satisfied is no easy task. It may be easy to cater to needs of customers when interacting face to face with them. But catering to online customers requires completely new strategies and tactics. Some of the ways online business can satisfy online contacts include offering 24/7 customer support, buyer friendly return policy, and free shipping. This simple acts will go a long way in ensuring happy customers and making them repeat clients.