Is it Time for an All-in-One Ecommerce Solution? -
If you're selling apps or digital content software, there will always be a time when you need to seriously consider the best way to make money off your product or service to grow your company.
Subscription? One-time payment? Is my item or service going to be available around the world? What is the buying experience going to be like? How will I collect payments? There's an endless number of questions that are likely running through your head when you are beginning to think about the ecommerce possibilities for your company.
Investing resources into homegrown tools as well as accumulating point solutions from third parties will only get your company to a certain point. But how do you know when it's the right time to purchase a complete ecommerce solution?
To help you out to help you out, here are a few suggestions for the internal and external things to take into consideration when deciding if an all-in-one eCommerce platform is right for you and your business.
External Factors: The State of the Ecommerce Industry
Digital commerce is becoming a popular choice for consumers.
There's an opportunity for businesses to capture this growing market. And the key to success lies in focusing on the customer experiences.
Businesses need to focus on consumer trends in the world.
Cross-border ecommerce is growing rapidly. Forrester estimates that international commerce is expected to comprise 20% of the ecommerce market by 2022 which will be worth $627 billion. Customers aren't concerned with the location of the business they are considering buying on the internet. And they have high expectations about their experience shopping.
The key to be successful in the ever-changing global marketplace is accepting global payment methods and offer localized pricing various languages, and maintain global and local compliance with tax and regulation. A good e-commerce platform allows localized shopping experience for each customer around the world.
Internal Factors; Your business
The rising costs associated through DIY or point-solutions are creating disjoined ecommerce experiences.
It seems sensible to put your own resources in developing a custom online shopping solution. Actually, a client, Nelio, explored the homegrown option before choosing's the complete platform for ecommerce. However, these internal products typically require a large period of time as well as funds to maintain. Your internal teams can be put to use on more important things--like building new services and products to increase the size of your business.
However the other hand, there's no limit to the amount of points that your company can buy to handle every aspect of the eCommerce experience. However, these competing tools could cost you more in the long time, as well as limiting the ability of your company to provide the best e-commerce user experience customers have come have come to.
Insufficient conversion rates can limit the potential of your earnings.
If you're experiencing lower conversion rates, the problem is usually youand not the user. Are site visitors surprised by unexpected taxes? Are they concerned about site's data security and the transaction? Are they annoyed by the lack of payment methods?
There are so many factors that contribute to poor conversion rates for your website. A comprehensive e-commerce platform will empower you with best practices and industry standards which will boost confidence among the visitors to your website. If you're not getting the number of sales you're looking for, it could be time to consider making an upgrade.
Outdated checkout flows are interfering with the growth of your company.
Third party hosted checkout pages or clunky checkout processes won't suffice anymore. The consumer expects a seamless, branded experience throughout the entire checkout process. If customers don't receive what they want, they will turn towards competitors. And depending on the resources of devs to update your product pages wastes precious time and money.
Do an audit of your check-out process. Heatmaps can help you identify the areas that customers drop off before making a purchase. Combining that information with a leading ecommerce solution which will assist you in creating modern purchase experiences featuring popup checkouts directly from your page of products, as well as the ability to add special discounts, and offer sales and cross-sells. This is all without having to count on the support of developers!
Do you have some internal and external factors hitting right at home? It may be time for you to move to an all-in-one platform that can manage all aspects of the eCommerce experience of your business. Schedule your custom demo today.
