The Significance of eCommerce

The Significance of eCommerce

What is eCommerce?

Electronic commerce, often referred to as simply ecommerce (or e-commerce), is a phrase used to describe business that is conducted over the internet using any of the applications that rely on the internet, such as e-mail, instant messaging, shopping carts, Web services, UDDI (Universal Description, Discovery and Integration), FTP (File Transfer Protocol) and EDI (Electronic data interchange) among others. Electronic commerce can be between two businesses transmitting funds, goods, services and/or data or between a business and a customer.

Tips for eCommerce Testing

  • Don’t start with the home page – Conversions don’t happen on the home page and a large portion of your visits won’t even land on your home page. Rather, test downstream in the conversion funnel (aka checkout), because visitors that get that far are more likely to convert than others who checkout at the initial steps.
  • Don’t start with your worst performing page – This is another myth that has gained popularity. Yes, you want to improve bad pages, but even if you get, say, a 40% lift – it’s a 40% lift on a low traffic or low value page. 40% of almost nothing is still almost nothing. If you pick a good performing page to optimize, it’s much more exciting.
  • Test your search result and category pages – These pages often lie in the shadows of your attractive home page, product pages and checkout, but they’re a key to getting visitors to the product pages!
  • Choose pages with the most expensive traffic – If you’re shelling huge amount of money to attract new visitors to a product or category, you would want to make the most of that, spend by minimizing bounce rates and maximizing committed purchases and cross-sell/up sell.
  • Run tests on affiliate landing pages – Unlike paid search traffic, you typically don’t pay for visits referred by affiliates, but affiliates are more impressed by online merchants that test. You may even give them custom landing pages and allow your affiliates to provide some input, as they are master marketers themselves.

E-commerce in future Trends

Revenues at e-commerce firms grew to Rs.13, 900 crore in 2012-13 from Rs.1, 500 crore in 2007-08, according to a January report by research and ratings agency Crisil Ltd. By 2016, the number could touch Rs.50, 000 crore, it projected. The report put the current size of India’s organized retail market at around Rs.1.78 trillion.
E-commerce technology is vital for any organisation that looks to use the web to sell products or services, or simply to engage better with customers.
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