It's Time to Get an All-in-One eCommerce System? -
Whatever you're selling, apps, digital content, or software, you will always have an opportunity be thinking about the best way to monetize your product or service, and expand your business.
Subscription? One-time payment? Does my product or service going to be accessible to anyone anywhere in the world? What is the experience of purchasing be similar to? What's the method to collect payments? There's a myriad of queries that could be going through your head as you begin to explore the e-commerce opportunities for your business.
Investing resources into homegrown tools or collecting point solutions from third parties can only take your business to an unspecified point. When do you know if you should look into investing in an online shop?
In order to make it easier, here are some important external and internal aspects you need to take into consideration before making a decision whether an all-in-one ecommerce solution is right for your business.
External Factors: The State of the Ecommerce Industry
Digital commerce is becoming a popular choice for consumers.
Companies have the chance to get access to the growing market. And the key to success lies in focusing on customer experience.
The focus of companies must be on trends in global consumption.
E-commerce that is cross-border has been growing. Forrester predicts that online shopping across the world will make up 20% of all online sales by 2022, which will be worth 627 billion dollars. Consumers don't have to worry with where to find the business they are contemplating buying online. They have high expectations about their experience shopping.
The key to be successful in the increasingly globalized world is to be able to accept international transactions and to offer localized pricing different languages and currencies as well as maintain the international and local compliance of taxes and regulations. A good e-commerce platform allows an experience of local shopping for every customer around the world.
Internal Factors affecting Your Company
Costs are rising due to DIY or point-solutions can result in fragmented online shopping user experiences.
At first glance, it is logical to put the internal resources to develop your own custom eCommerce solution. The customer Nelio, tried the DIY option prior to selecting the complete eCommerce platform. The internal software typically requires a large quantity of both time and money to run. Internal teams can be utilized for other important tasks, such as the development of new services or products that can increase the scale of your business.
On the other hand, there is no end to the range of tools your business can acquire to control each aspect of your e-commerce experience. Yet, competing products could cost you much more over the long term and make it difficult for your business to provide the best e-commerce user experience customers have come expect.
A low conversion rate could be limiting your revenue potential.
In the case of poor rate of conversion, it's typically your fault, not the users. Are users shocked at the sudden tax bill? Are they worried about their website security, data security, and transactions? Are they irritated by insufficient payment methods?
There are a myriad of factors which contribute to the lower conversion rate for your website. And all-in-one ecommerce solution can provide you with the best techniques and guidelines in the market that will inspire confidence in customers who browse your site. If you're not seeing the kind of revenue you've been hoping for, then it's the time to think about an upgrade.
Incorrect checkout processes are interfering with the expansion of your business.
Third-party hosted checkout pages as well as clunky checkout processes won't change this any less. Customers expect a smooth and professional experience through the checkout procedure. If they do not get the experience they expect, they'll search for alternatives. Making reliance on the resources of developers to update your website's product pages is a waste of time and cash.
Do an audit of the payment process. Heatmaps are a great way to identify the areas that customers drop off before making a purchase. This information is combined with an e-commerce platform of excellent quality can help you create modern shopping experiences with pop-up checkouts directly linked to your page of products, as well as the capability to include promotions, special offers and cross-sells and sales. This is all without having the support of developers!
Do you have some internal and external factors hitting close to the heart of your business? It might be time to move towards an integrated platform for e-commerce that can provide a complete online user experience for your business. Schedule your custom demo today.
Chris Lueck Chris Lueck is the Board Director at . Prior to his appointment at , Lueck served as Co-Founder and Managing Partner of Pylon Capital, a privately-held business that invests in entrepreneurial ventures and technologically-focused, high-growth service businesses. Chris is a graduate with a Bachelor of science degree in Electrical Engineering at the University of Virginia and a Master of Business Administration Degree in finance and entrepreneurship at the University of Southern California. He currently lives at Santa Barbara, California.
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