Do you think it is the right time to invest in an All-in-One eCommerce Software? -
If you're selling apps, digital content or software, you will be at a point where you need think about what you could do to make money from your service or product and expand your company.
Subscription? One-time payment? What will my service or product be accessible to anyone in the world? What will the purchase experience be like? What will be the process for collecting payments? There are a variety of questions that could be in your mind when you start investigating the potential of e-commerce to your business.
The cost of investing into tools made locally and acquiring point solutions from third-party suppliers can only take your business up to a point. What can you do to tell when it's time to invest in an online store that is comprehensive?
In order to make it easier For your convenience, here are some considerations of both internal and external factors to be considered when deciding if an all-in-one ecommerce solution is right for your company.
External Factors: The State of the Ecommerce Industry
The customer is taking on the world of.
It is possible that companies can make money from the market that has been growing. The key is making sure that the user experience is top of mind.
The focus of businesses must be on consumer trends in the world.
The growth of cross-border commerce is rapid. Forrester estimates that international commerce will account for up 20 percent of all commerce on the internet by 2022. This will be worth $627 billion. Consumers are no longer focused on the geographic location of an organization when they purchase on the internet. They are very confident about their buying experience.
One of the keys to success in a globalized and increasingly interconnected world is to adopt global payment methods that offer localized prices, various languages, and keep local and international compliance with tax and regulation. A good e-commerce platform allows localized shopping and experience every single time for every purchaser around the world.
Internal factors; your firm
The rising costs resulting from DIY or point-to-point solutions is creating disjoint online shopping experiences.
It may appear to make sense to put your own money to create a DIY online shopping service. Actually, a customer, Nelio, attempted to create a DIY solution before finally settling on an all-inclusive platform for online shopping. These internal systems usually require a considerable amount of time as well as the money needed to maintain. The internal team members can be used for more important things--like building new services and products to increase the size of your business.
But on it's also true that there's no end to the variety of points that your business can acquire to handle every aspect of the online shopping customer experience. Yet, all of these options could cost your business additional in the end and limit your organization's ability to deliver the perfect e-commerce experience consumers expect to receive.
Insufficient conversion rates can hinder the growth potential of your earning.
When it comes to poor conversion rates, the problem is usually you, not the customer. Are visitors to your website shocked by tax-related surprises? Are they concerned about site data security and the security of transactions? Are they frustrated by insufficient payment methods?
There's a variety of reasons that can contribute to the lower conversion rate on your website. A comprehensive e-commerce system will empower you with best practices and industry standards which can boost the confidence of those who visit your site. If you're not seeing the sales that you'd hoped for, it may be time to consider making changes to your site.
Outdated checkout flows are interfering with the growth of your company.
The checkout page hosted by a third party or clunky checkout processes aren't cutting the mustard anymore. Customers expect a smooth, branded experience throughout all checkout processes. If they don't get the experience they expect then they'll seek out competitors. Relying on development resources for the latest updates on your product's pages is a waste of precious time and resources.
Do an audit of the checking-out procedure. Heatmaps can help you identify places where people are falling off prior to making purchases. Utilize that information to combine it with an eCommerce platform of high-end standard that can help you build modern purchase experiences featuring popup checkouts right from the page with your products along with the possibility of adding discounts and special offers, and cross-sells, along with up-sells. It's all done without the need to rely on the assistance of your developers!
Do you experience external and internal forces that are affecting your company from the comfort of home? Perhaps you should change to an integrated online platform capable of managing all aspects of your online shopping experience for your company. Schedule your custom demo today.
Chris Lueck Chris Lueck is a Board member of . Prior to joining , Lueck served as Co-Founder and Managing Partner at Pylon Capital, a privately-held venture capital firm that focuses on technology-driven, high-growth service businesses. Chris obtained a Master of Science Degree in Electrical Engineering at the University of Virginia and a Master of Business Administration Degree in entrepreneurial finance at the University of Southern California. He currently lives in Santa Barbara, California.
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