There is nothing that can slow down the e-commerce bullet train as new online businesses continually appear on the virtual market place and grow. For customers, it’s the perfect way to get their products shipped to their doorsteps with a few clicks and taps on their mobile phones. E-commerce may seem like an easy way to succeed, but it is also an extremely competitive market and businesses must be ready to adopt changes to stay relevant. If you have your own e-commerce business, take a look at the following trends from ERP to inventory management, that will allow you to leverage your platform and grow it exponentially.
Digital transformation through mobile options is increasing and every business should use this opportunity to grow and enhance their projects. Getting a website or an application for e-commerce is a necessary step as this is the platform your users will frequent regularly. Research shows that four out of every five consumers make their purchases via cellular phones. That’s how important developing an application or a mobile site is, and even though app development may seem like a heavy expense, it is the most needed one. Moreover, mobiles are the most commonly used electronics and your competitors are likely to develop e-commerce solutions for them. In order to stay competitive in the market, your business must have mobile options planned out.
There is no doubt that consumers want the best platform to trade on. Having an e-commerce website or application that takes time to load or facilitate an order, is a high risk to your business. Consumers often get frustrated when a website doesn’t load quickly and it is crucial to avoid that. One bad experience can discourage potential customers and they may end up reaching out to your competitors. To satisfy them you must initiate an app development project that is fast and offers reliable solutions.
Your website or application’s design will have a huge impact on how customers view your platform. Statistics show that businesses can get up to 9900% returns on investment when they place their bets on supplying an awesome user experience. A beautifully designed platform can increase your visitor-to-customer-conversion rate by over 200%. Rich textures, an attractive theme, and an overall captivating look can and will enhance the production of your e-commerce solution.
Secure payment options and the integrity of customer’s data should be the topmost priority of any online business. Getting your app development company to write a secure code and encrypt all your sensitive data is a good start. Additionally, you could implement stronger authentication and deploy tamper detection technologies that alert you if the application faces any kind of tampering threat. Investing in your app and website security is always practical as it shows the customers that their information is valued by the company, and that increases brand loyalty.
Imagine losing out on a sale after a customer has decided to buy, but is confused by a small detail. Most users don’t prefer email support as they don’t want to wait for days to get a response. Statistics show that 85% of consumers will pay extra for a better experience. Customer support options should be focused on by your business as this will have a great impact on your sales. Some app development companies integrate chat options for customers to reach a business directly. This is a great way to engage customers and enhance their experience with your e-commerce platform.
Another great way of keeping your customers loyal is establishing a platform that offers them a unique and personalized experience. Simple, small features like custom buttons or the ability to change background images can have a great effect on your clients. For international businesses, customers should be able to switch languages so that they can browse through your listings and avail your services in their native language. This will create a sense of uniqueness and they will feel valued when they see their personalized features on your platform.
For an e-commerce platform to be authentic and successful, it is crucial that the products and services being offered are worth the customer’s investment. There is no use in selling outdated products that the customers don’t want. Additional content in the form of blogs and portfolios can be added to the platform to improve SEO rankings and bring in more customers.
A study showed that internet users spend about 10% of their day on social media. Whether you decide to market your e-commerce platform in its entirety or advertise your products independently is up to you. As long as you utilize social media to reach and connect with your user base, your business will grow. You may also get new customers and expand your business through effective social media campaigns.
Just getting the sale should never be the end of customer dealing for a business. Post-purchase feedback to get detailed insights about the user's experience is just as important. It shows the area you need to work on to further improve your service and enhance the customer’s experience, and it makes your customers feel acknowledged and validated. Integrating a feedback form right after a user makes the purchase is a great way to gather reviews.
While e-commerce seems like a completely online business, there are real elements to it such as inventory management. Businesses need their inventories to go hand in hand with what they have on their e-commerce store. Listing products that are available and updating which ones are out of stock is essential to keep the customer informed of what they can get, and avoiding disappointment. Similarly, businesses should focus on offering discounts and deals to clear out products taking up space in their warehouse.
Who doesn’t love discounts and promotions? They’re a great way to increase sales and clear out inventories as customers love getting marked reductions on anything they purchase. Discounts and promotions can often result in more profits through a higher number of sales even though you cut out on the selling price. For e-commerce, it is essential to update customers about promotional offers from time to time via push notifications.
Statistics show that a whopping 93% of consumers would rather have free shipping than discounts and deals, if the true value is equivalent. There is a great psychological power in the word 'free' and your e-commerce platform should capitalize on that. By implementing free delivery, you will be able to generate additional profits, despite the small cut on shipping costs.
Enterprise Resource Management Systems or ERP focuses on gathering and organizing data regarding business processes for analysis. ERP tools focus on how well you handle business processes and allow you to improve company operations throughout the departments. Utilizing data for service improvement can boost your e-commerce platform and generate more revenue.
This is another great way to offer value to your customers by strategically planning customer-specific deals. Data regarding special occasions such as birthdays and anniversaries can be collected through the e-commerce app. Integration of an automatic wishing tool and offering unique discounts for the occasion will greatly encourage your buyers. Moreover, customers also prefer to shop on holidays and would love to get discounts during their vacation time.
Most business-owners stress over the products they are unable to sell and divert their attention towards them. This is a huge mistake as it takes the focus away from their best sellers. It is more difficult to increase the sale of your least-selling product than your best-selling one. Let’s say smart TVs contribute to 70% of your total sales while computers stand at 10%. Through effective marketing, your television sales can realistically get a 10% increase while doubling the computer sales is going to be extremely difficult. Hence, prioritize your best selling items and plan your marketing campaigns around them.
Using effective web analytics software to strategize your business plan is essential for you. This is because it will help you understand the target audience and prepare your marketing campaign. You can use analytics software such as Mixpanel, Heap, and Woopra to analyze your e-commerce platform’s main domain, and make crucial decisions accordingly. Not only will this improve your website and app but also impact your business model, paving the way for success.
Conducting an online business is extremely difficult as you must compete with thousands of international companies around the world. The advancements in technology have brought out new ways to do business online and if you fail to adapt, your profits for sure, and your business itself may suffer. In order to be successful in such a hyper-competitive environment, you must transform your business model digitally and leverage these trends to get the most out of your app or website. If you're looking for a digital transformation provider, you can reach out to us. Whether you need web designing, app development, or other digital options, we, at Appedology, will offer the perfect solutions and cater to all your needs. With our help, you can utilize the latest technologies and revolutionize your business. So make the first strategically sound move towards your e-Commerce success, contact us!
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