Ecommerce Myths Exposed

The internet is full of advice on how to build successful ecommerce websites, some of it bad and some of it useful. Whilst it is easy to disregard the bad advice, unfortunately the sheer amount available only encourages bad practice during ecommerce development. We are going to dispel some of the myths that surround ecommerce to ensure that you or your website developer only build ecommerce websites that are full of the good stuff!Myth Number 1 – You can never provide too much informationOne of the most common ecommerce myths is that you can never provide your buyers with too much information. Buying decisions hinge on information gathering, in theory the more information you provide potential customers the more you enable buying decisions. In reality however too much information is overwhelming and can prevent buying decisions from being made. Filling up your product pages with countless choices and unnecessary information only causes confusion and choice paralysis. Encourage users of your site to become customers by providing them with simple product information, and if you really want to provide technical specifications for your products present them as separate downloadable documents.Myth Number 2 – Security badges inspire confidenceMake no bones about it, online security is paramount. Thanks to a surge in media interest, the security of online shopping has taken a bashing of late and many would-be customers are still wary of engaging with ecommerce. As an owner of an ecommerce site you need to inspire confidence in your users, but simply adding a McAfee or VeriSign badge to your checkout pages does nothing to allay the fear of internet shopping! You need to convince potential customers that your site is trustworthy and secure through effective written content; a feeble badge just won’t cut it!Myth Number 3 – Cross-sell at every opportunityWalk into any supermarket and it’s a guarantee that you will be exposed to cross-selling at every aisle and checkout. Even something as simple as purchasing a newspaper from a supermarket subjects you to a range of other products to purchase…chocolates, magazines and supermarket brand credit cards! Cross-selling works in shops, but it doesn’t translate very well online. In a bid to follow the Amazon template many online retailers attempt to introduce cross-selling at every stage of a user interaction including checkout processes. Some website owners even try to cross-sell products which are completely unrelated. This is just wrong wrong wrong! Online buying processes are user driven and checkout procedures need to be fast, focused and efficient. Bombarding your customers with extra choices and additional products when they are in the process of buying from you is off-putting and will simply encourage them to visit your competitors’ websites. Keep all cross-selling and promotional techniques away from the checkout, don’t give in to temptation!Myth Number 4 – Successful ecommerce depends solely on the websiteYour ecommerce website development agency has probably only concentrated their advice and attention on building you the ecommerce site of your dreams, after all “if we build it, they will come”! That’s a nice sentiment but sadly the success of your ebusiness doesn’t rely on the website alone. The real success of your ebusiness is in the service that you provide to your users and customers. User experience is improved by appealing and well design websites, but there are other important components which make up the full experience such as: open communication channels, returns policies, order fulfilment and dispatch, email notifications and complaints handling. Providing excellent customer service online is as important as providing it offline.Myth Number 5 – Ecommerce is easy, anyone can do it!The final ecommerce myth is that setting up and running an ecommerce business is easy. And it’s not just the internet that conveys this message; it’s even on our television screens. Take the current crop of “junior” apprentices vying to be Lord Sugar’s dogsbody for example, at least two of these adolescents claim to be CEOs of ebusinesses. Proof then surely that ecommerce so easy that 16 year old children can do it? Unfortunately it’s not as simple as that! Yes setting up an ecommerce website can be easy, but as we have discovered successful ecommerce relies on so much more. Successful ecommerce is a long term process which incorporates all the elements which are found in bricks and mortar businesses – product, functions, customer service, communication and effective marketing strategies. Now how many 16 year-olds can get their heads round that?!

The Top 10 Don’ts of Digital Marketing

Digital marketing is the method of marketing in which we use various electronic devices such as computers, smartphones, tablets, etc. It also entails the usage of software programs, apps and technological platforms such as email, websites, social media, etc. The world of digital marketing is a vast one in which we can easily get lost.Because of all the advances and changes in technology, it can be hard to keep up on all the latest trends and methods encompassed by digital marketing. Digital marketing strategies include visual marketing, mobile marketing, and online marketing techniques of various kinds so it can all get very confusing and overwhelming.We not only need to know what to do in the digital marketing world, we have to know what not to do. Below is a list of ten of the don’ts to hopefully help you trek through the massive digital marketing universe.1. Closing Your Eyes on Mobile Marketing – The number of people who spend more time on the web with mobile devices is growing at a astounding rate. If you own an online business, you can no longer resist mobile devices as part of your digital marketing arsenal. The first step would be to make your website mobile device friendly. Many site builder programs such as WordPress have plugins and automatic features to do that for you. You can also add a line of code to your site that will format your site to the device being used. Be sure to try your website on your mobile devices to find out exactly how people are seeing it. Go through the mobile shopping experience yourself so you have a full understanding of what you need to do.2. Too Much Social Media – Social media is so much a part of the internet these days it is impossible to expect to build a presence on all of the social sites. You need to pick 2 or 3 of the top sites and start building your brand and setting up your social presence. The most used social sites as of now are Facebook, Twitter, LinkedIn and Pinterest. I get most of my social traffic from Facebook and Pinterest. Next in line is Google+, Tumblr and Instagram. If you can understand your target market you can become a part of the social sites in which they would most likely participate.3. Information Overload – The digital marketing world is so vast we can easily become lost in the information. I, as well as many others, get caught in the trap of spending too much time gathering information from countless sources on various aspects of building an online business. We need to narrow our focus and learn only what we need to learn to successfully build our business. Find a few good sources for this information and stick with them to learn the ins and outs.4. Not Having a User-Friendly Website – Many of us are tempted to create the biggest, brightest, flashiest website possible but this is a big mistake. You want your site design to be simple, easy to navigate and very user-friendly. Add only what is needed to inform your customers. You do want to add some extra content to provide information to your visitors but make sure it directly pertains to what your site is about. Do not clutter up your site with countless ads, irrelevant information or extra steps to get to your call to action. Fancy features and flashy extras will just confuse your customer and possibly drive them to another site.5. Not Keeping Up with SEO Changes – SEO is very pertinent to your website but the rules and regulations are always changing. Find a good source of SEO information and follow it regularly to keep up with the changes so you can make any necessary revisions to your business website.6. Not Utilizing Visual Marketing – By using visual marketing, you could increase your conversion rate by as much as 86%. This is a phenomenal statistic. Place a video on your landing and/or homepage. Strategically place quality graphics in your blog posts and content. Use visuals as much as possible in your social media marketing. Create and use your own infographics for your blog and social media. There are free tools for making infographics. Use a compelling photo or graphic in your articles. It could mean the difference between your article being read or rejected. Look over articles with photos. Does the photo pull you into the article and make you want to read it or does it leave you flat. Take note of the type of image used and what emotion or action it brings out in you. Placing a well-made video on your homepage or landing page will make a substantial difference as well. People will get the message much quicker than by reading and could be the deciding factor as to whether they stay or go. Be entertaining in the video but be sure to deliver your message. Your image and voice will also help your potential customer bond with you. You also want to get started in a fairly new visual marketing technique called meme marketing. This combines humor and real life situations with amusing and/or heartwarming images.7. Not Testing and Tracking – Take advantage of Google’s free tools to study your stats and track your visitors. Google Analytics can help you tweak your site to its performance peak. Test ads, web pages, article resource boxes, etc. Find out what brings the best results and most response and stick with it.8. Not Establishing the Relationship – Doing business with people digitally is much different than being able to talk with them face to face. It is harder for people to trust a webpage than an actual person so be sure to do all you can to build that relationship of trust and respect. Answer all email inquiries quickly and appropriately. Be reliable – if you say you are going to do something, be sure to do it. Be consistent – if you are sending out a weekly newsletter do not get lax and start missing weeks. Update your blog and product information regularly. Do not let your site go stale. Be consistent in your social media. Respond to all questions and comments in a timely manner. Let people know you are available for them and can be trusted.9. Focusing too Much on Traffic and Not Enough on Conversions – Traffic is the lifeblood of an online business but you also need to focus on quality and targeted traffic. Getting 1000 visitors to your site doesn’t do much good if they are not interested in what you offer. Participate in groups and forums where people who are interested in your services might be. If you offer B2B products and services, join groups and forums of home business owners. We all want more traffic but we need to aim for the traffic to whom we can actually sell.10. Charging Blindly Into the Marketing Abyss – Starting an online business and charging headfirst into the digital marketing world is not a good idea. You need to do some planning ahead and research what you are getting into. Know who your customers will be and where to find them. Make sure you are offering a sellable product or service. Be somewhat prepared for your dive into the digital marketing world.These mistakes are very common but need to be addressed. If you are attempting to build an online business you need to be informed and constantly be adapting and learning. Digital marketing has come a long way since the early 90s and we need to grow and develop with it. It will be overwhelming at times but you can work to overcome and build a successful online business.

S&P 500 Biotech Giant Vertex Leads 5 Stocks Showing Strength

Your stocks to watch for the week ahead are Cheniere Energy (LNG), S&P 500 biotech giant Vertex Pharmaceuticals (VRTX), Cardinal Health (CAH), Steel Dynamics (STLD) and Genuine Parts (GPC).

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While the market remains in correction, with analysts and investors wary of an economic downturn, these five stocks are worth adding to watchlists. S&P 500 medical giants Vertex and Cardinal Health have been holding up, as health-care related plays tend to do well in down markets.

Steel Dynamics and Genuine Parts are both coming off strong earnings as both the steel and auto parts industries report optimistic outlooks. Meanwhile, Cheniere Energy saw sales boom in the second quarter as demand in Europe for natural gas continues to grow.

Major indexes have been making rally attempts with the Dow Jones and S&P 500 testing weekly support on Friday. With market uncertainty, investors should be ready for follow-through day breakouts and keep an eye on these stocks.

Cheniere Energy, Cardinal Health and VRTX stock are all on IBD Leaderboard.

Cheniere Energy Stock
LNG shares rose 1.1% to 175.79 during Friday’s market trading. On the week, the stock advanced 3.1%, not from highs, bouncing from its 21-day and 10-week lines earlier in the week.

Cheniere Energy has been consolidating since mid-September, but needs another week to forge a proper base, with a potential 182.72 buy point formed on Aug. 10.

Houston-based Cheniere Energy was IBD Stock Of The Day on Thursday, as the largest U.S. producer of liquefied natural gas eyes strong demand in Europe.

Even though natural gas prices are plunging in the U.S. and Europe, investors still see strong LNG demand for Cheniere and others.

The U.K. government confirmed last week that it is in talks for an LNG purchase agreement with a number of companies, including Cheniere.

In the first half of 2021, less than 40% of Cheniere’s cargoes of LNG landed in Europe. That jumped to more than 70% through this year’s second quarter, even as the company ramped up new export capacity. The urgency of Europe’s natural gas shortage only intensified last month. That is when an explosion disabled the Nord Stream 1 pipeline from Russia that had once supplied 40% of the European Union’s natural gas.

In Q2, sales increased 165% to $8 billion and LNG earned $2.90 per share, up from a net loss of $1.30 per share in Q2 2021. The company will report Q3 earnings Nov. 3, with investors seeing booming profits for the next few quarters.

Cheniere Energy has a Composite Rating of 84. It has a 98 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share price movement with a 1 to 99 score. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 41.

Vertex Stock
VRTX stock jumped 3.4% to 300 on Friday, rebounding from a test of its 50-day moving average. Shares climbed 2.2% for the week. Vertex stock has formed a tight flat base with an official buy point of 306.05, according to MarketSmith analysis.

The stock has remained consistent over recent weeks, while the relative strength line has trended higher. The RS line tracks a stock’s performance vs. the S&P 500 index.

Vertex Q3 earnings are on due Oct. 27. Analysts see EPS edging up 1% to $3.61 per share with sales increasing 16% to $2.2 billion, according to FactSet.

The Boston-based global biotech company dominates the cystic fibrosis treatment market. Vertex also has other products in late-stage clinical development that target sickle cell disease, Type 1 diabetes and certain genetically caused kidney diseases. That includes a gene-editing partnership with Crispr Therapeutics (CRSP).

In early August, Vertex reported better-than-expected second-quarter results and raised full-year sales targets.

S&P 500 stock Vertex ranks second in the Medical-Biomed/Biotech industry group. VRTX has a 99 Composite Rating. Its Relative Strength Rating is 94 and its EPS Rating is 99.

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Cardinal Health Stock
CAH stock advanced 3.2% to 73.03 Friday, clearing a 71.22 buy point from a shallow cup-with-handle base and hitting a record high. But volume was light on the breakout. CAH stock leapt 7.3% for the week.

Cardinal Health stock’s relative strength line has also been trending up for months.

The cup-with-handle base is part of a base-on-base pattern, forming just above a cup base cleared on Aug. 11.

Cardinal Health, based in Dublin, Ohio, offers a wide assortment of health care services and medical supplies to hospitals, labs, pharmacies and long-term care facilities. The company reports that it serves around 90% of hospitals and 60,000 pharmacies in the U.S.

S&P 500 stock Cardinal Health will report Q1 2023 earnings on Nov. 4. Analysts forecast earnings falling 26% to 96 cents per share. Sales are expected to increase 10% to $48.3 billion, according to FactSet.

Cardinal Health stock ranks first in the Medical-Wholesale Drug/Supplies industry group, ahead of McKesson (MCK), which is also showing positive action. CAH stock has a 94 Composite Rating out of 99. It has a 97 Relative Strength Rating and an EPS rating of 73.

Steel Dynamics Stock
STLD shares shot up 8.5% to 92.92 on Friday and soared 19% on the week, coming off a Steel Dynamics earnings beat Wednesday night.

Shares blasted above an 88.72 consolidation buy point Friday after clearing a trendline Thursday. STLD stock is 17% above its 50-day line, definitely extended from that key average.

Steel Dynamics’ latest consolidation could be seen as part of a larger base going back six months.

Steel Dynamics topped Q3 earnings views with EPS rising 10% to $5.46 while revenue grew 11% to $5.65 billion. The steel producer’s outlook is optimistic despite weaker flat rolled steel pricing. STLD reports its order activity and backlogs remain solid.

The Fort Wayne, Indiana-based company is among the largest producers of carbon steel products in the U.S. It engages in metal recycling operations along with steel fabrication and produces myriad steel products.

How Millett Grew Steel Dynamics From A Three Employee Business

STLD stock ranks first in the Steel-Producers industry group. STLD stock has a 96 Composite Rating out of 99. It has a 90 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share-price movement that tops at 99. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 98.

Genuine Parts Stock
GPC stock gained 2.8% to 162.35 Friday after the company topped earnings views with its Q3 results on Thursday. For the week GPC advanced 5.1% as the stock held its 50-day line and is in a flat base.

GPC has an official 165.09 flat-base buy point after a three-week rally, according to MarketSmith analysis.

The relative strength line for Genuine Parts stock has rallied sharply to highs over the past several months.

On Thursday, the Atlanta-based auto parts company raised its full-year guidance on growth across its automotive and industrial sales.

Genuine Parts earnings per share advanced 19% to $2.23 and revenue grew 18% to $5.675 billion in Q3. GPC’s full-year guidance is now calling for EPS of $8.05-$8.15, up from $7.80-$7.95. The company now forecasts revenue growth of 15%-16%, up from the earlier 12%-14%.

During the Covid pandemic, supply chain constraints caused a major upheaval in the auto industry, sending prices for new and used cars to record levels. This has made consumers more likely to hang on to their existing vehicles for longer, driving mileage higher and boosting demand for auto replacement parts.

Fellow auto stocks O’Reilly Auto Parts (ORLY) and AutoZone (AZO) have also rallied near buy points amid the struggling market. O’Reilly reports on Oct. 26.

IBD ranks Genuine Parts first in the Retail/Wholesale-Auto Parts industry group. GPC stock has a 96 Composite Rating. Its Relative Strength Rating is 94 and it has an EPS Rating of 89.