Is it Time for an All-in-One Ecommerce Solution? -
If you're selling apps , or online content applications, there will always come a point when you must seriously contemplate the best way to make profit from your service for the sake of growing your business.
Subscription? One-time payment? What is the likelihood that my item going to be available across the globe? What is the buying experience going to be like? How will I collect payments? There are a myriad of issues that may be in your mind when you start thinking about the ecommerce possibilities for your company.
The investment in tools that are made by homegrown companies as well as accumulating point solutions from third parties will only get your company to a certain level. But how do you know when it's the right time to purchase a complete ecommerce solution?
To help you out in your quest, here are a few tips for both factors both internal and external to take into consideration before deciding on whether an all-in one eCommerce platform is suitable for your company and you.
External Factors: The State of the Ecommerce Industry
The digital marketplace is now the preferred choice of consumers.
There's an opportunity for businesses to profit from this expanding market. A key element to success is focusing on the customer experiences.
Businesses need to focus on global trends for consumers.
E-commerce that is cross-border is expanding rapidly. Forrester estimates that international trade is predicted to make up 20% of the ecommerce market by 2022 . It will amount to $627 billion. Consumers don't have to worry about where the company is located when they're considering purchasing from the internet. And they expect a great online shopping experience.
One of the keys to success in the ever-changing global marketplace is to be able to accept international payment methods and providing localized prices in a variety of languages, and maintain global and local compliance with tax and regulation. An effective e-commerce platform can provide an experience of localized shopping for every buyer around the globe.
Internal Factors; Your firm
The increasing costs associated with DIY or point-solutions are creating fragmented online shopping user experiences.
It's logical to allocate your own effort into creating an online shopping system that you can customize. Actually, a client, Nelio, explored the homegrown option before selecting the full platform for eCommerce. But, internal applications typically require a large period of time, as well as funds to maintain. The internal team members can utilize their time and energy for bigger issues like developing new services and products to increase the size of your enterprise.
However the other hand you're not limited to the amount of points that your company can buy to manage every aspect of your eCommerce customer experience. Yet, the competing tools could cost you more in the long time and also limit the ability of your company to provide the best customer experience that customers come come to.
Insufficient conversion rates can hinder the growth potential of your earnings.
If you're seeing low conversion rates It's usually youand not the user. Are your visitors shocked by tax charges that are unexpected? Are they concerned about site's security of data and transactions? Are they frustrated with the inability to pay methods?
There are a myriad of factors which can cause low rate of conversion for your site. An e-commerce system that is comprehensive will provide you with the best practices and industry standards which can boost the confidence of visitors to your website. If you're not seeing the amount of sales you're looking for, it could be time to consider making an upgrade.
Outdated checkout flows are interfering with the expansion of your business.
The third-party hosted checkout pages or cumbersome checkout procedures will not suffice any longer. Customers expect a smooth and branded experience through the checkout process. If customers don't receive what they want and expect, they'll turn to other competitors. And depending on the resources of devs to update your pages for products wastes time and resources.
Do an audit of your check-out procedure. Heatmaps are a great way to identify those areas where customers fall off their purchases prior to making. The combination of that data with a leading ecommerce solution which will assist you in making modern purchasing experiences with check-out pop-ups right from your website's product pages, as well as the capability to include promotions, special discounts and cross-sells and sales. It's all done without the requirement of the assistance of your the developers!
Do you experience internal and external factors hitting right at home? Perhaps it's an ideal time to transition to an all-in-one platform to manage all aspects of the eCommerce customer experience for your business. Schedule your custom demo today.
Chris Lueck Chris Lueck is an active Board member for . Prior to his time at , Lueck served as Co-Founder and Managing Partner for Pylon Capital, a privately-held business that invests in entrepreneurial ventures and technologically-focused, high-growth service businesses. Chris earned a Bachelor of Science degree in Electrical Engineering in the University of Virginia and a Master of Business Administration Degree in business and finance from the University of Southern California. He currently lives at Santa Barbara, California.
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