Is it Time for An All-in-One eCommerce Solution? -
No matter if you're selling an app, digital content, or software, there always comes an opportunity be thinking about the best way to monetize your product or service, and grow your business.
Subscription? One-time payment? Is my item or service going to be accessible to anyone in the world? What will the purchase experience be similar to? What will be the process for collecting payments? There's an endless number of questions that are likely running through your head when you start exploring the ecommerce potential of your business.
Investing resources into homegrown tools as well as accumulating point solutions from third parties can only take your business to a certain point. How do you tell when it's the right time to consider investing in a full online store?
For your convenience Here are some of the external and internal factors you should consider before deciding 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.
There's an chance for companies to gain access to this growing market. And the key to success comes down to focusing on the experience of customers.
Companies must be focused on global consumer preferences.
E-commerce that is cross-border is increasing. Forrester estimates that shopping from across the world will make up 20 percent of ecommerce by 2022, which will be worth $627 billion. Customers aren't concerned about where they can find the business they are considering to purchasing online. They have high expectations about their experience shopping.
The key to be successful in the increasingly globalized world is the ability to accept international payments and offer localized pricing different languages and currencies as well as maintain international and local compliance with taxes and regulations. A good e-commerce platform allows localized shopping experience for each customer around the world.
Internal Factors; Your Company
Increasing costs by using DIY or point-solutions are creating disjoined ecommerce experiences.
At first glance, it seems sensible to invest your internal resources in developing a custom eCommerce solution. Indeed, the customer, Nelio tried the DIY option before choosing's complete ecommerce platform. These internal products typically require a large quantity of both time and resources to manage. Your internal teams could be used for more important things--like building new services and products to increase the size of your business.
On the other hand, there is no end to the variety of point solutions your business can acquire to control every element of the ecommerce experience. However, these competing tools can cost your business more in the long run, and will limit your organization's ability to deliver the perfect e-commerce user experience customers have come expect.
The low conversion rate is limiting your revenue potential.
In the case of low conversion rates, it's usually youand not the user. Are site visitors stunned by the unexpected tax bill? Are they concerned about site's data security and the transaction? Are they annoyed by the insufficient payment methods?
There are so many factors that play a role in the low conversion rate of your site. And all-in-one ecommerce solution can provide you with the best methods and standards in the industry that inspire confidence in the customers who visit your site. If you're not getting the amount of sales you were 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 as well as clunky checkout experience will not make it any more. Customers expect a smooth and branded experience during the checkout process. If they don't get what they want then they'll look to rivals. And relying on dev resources to make updates to your product pages wastes precious time and cash.
Take the time to do an audit of the checkout process. Heatmaps will help you find areas where customers are dropping off prior to making a purchase. Combining that information with an e-commerce platform of the top quality that will help you build modern shopping experiences with pop-up checkouts that are directly linked to your page of products, as well as the ability to add special discounts, and offer sales and cross-sells. It's all done without having to depend on support from developers!
Do you have some internal and external factors hitting close to home? Perhaps it's time for you to move to an integrated e-commerce platform to handle the complete ecommerce experience for your business. Schedule your custom demo today.
