While there are many reasons why developing an eCommerce strategy is a critical first step in your eCommerce efforts, there are two reasons that rise to the top.
The first has to do with competition. At this very moment, there are multiple companies trying to draw away potential customers from you. More than ever, more people are choosing to buy their products and services online. They are also more demanding and expect more sophistication from their retailers. This means you have to be better, faster, and more responsive to the needs of your customers than ever before. If you’re not, you can be sure your competitors will.
The second reason is conversion. In reality, a small percentage of a website’s visitors actually go all the way through the conversion funnel. The reason for this is because the typical conversion funnel has many holes, where customers can easily drop out of the conversion process. Those holes could be anything from a slow-loading website and poor checkout process to navigation issues and poorly written product descriptions.
Taking the time to devise a thoughtful eCommerce strategy will go a long way towards helping a company confront these two unavoidable realities of doing business in the digital world.