6 Scalable Enterprise Ecommerce Platform Tips
Most ecommerce sellers launch their stores with growth and diversification as both short and long term visions. Many want even more and in line with this, find themselves desiring a scalable enterprise ecommerce platform.
Often, when e-commerce entrepreneurs first launch their companies, money, time, and expertise can be in short supply, and the temptation for opting for quick-fix, basic and cheap solutions can be tempting.
Building a scalable e-commerce enterprise need not be prohibitively expensive. There are early-measure steps you can take to position your business to leverage on affordable yet total ecommerce solutions like Shopify.
Here, we look at ten tips to build a scalable ecommerce business:
Research is the first step of business regardless of the model. There’s no single business structure that works for everyone. Service-based companies, software, digital product sales, and physical products have different structures.
Growing an online business is an investment and must be treated as such. Before deciding on what to sell online, you need to understand the different ecommerce business models available to decide which one works best for you.
When launching a product or service, you will need to research and establish how well your target market responds. The chances are that you won’t be the only one selling the product, so it is crucial that you study and check out the competition.
2. Choose the Right Ecommerce Platform
An ecommerce platform allows online businesses to manage their operations, including website, marketing, sales, and more from a central location. Ecommerce providers like Shopify offer the powerful tools needed to run a business while integrating with existing infrastructure for increased efficiency.
Whether you are looking to expand brick and mortar stores, taking your ecommerce to enterprise level or even establishing a business from scratch, your choice of ecommerce software has a massive impact on not only profitability, but also the stability of your business.
The ecommerce platform you choose to power your business and ready it for scalable, long-term growth will determine the overall success of your enterprise.
3. Work with Partners Who Have Scalable Capacity
Partnering with the right people and the appropriate businesses is of critical importance to the ultimate success of your business. For example, Great fulfilment and distribution partners can increase your scalability by warehousing your products and handling logistics.
Dropshipping or custom manufacturing relationships for your business need careful consideration. Scalability of any companies you partner with is crucial. You don’t need to get stuck with a manufacturing partner who will leave you back-ordered as demand for your products increases.
Look for partners that integrate with your chosen ecommerce platform. If you partner with a service like Amazon, for example, Shopify will give you seamless integration to the service for complete logistical and operational support for order fulfilment.
It is in the interests of any business to offer the best possible quality prices for the products it sells or the raw materials it uses for manufacturing. Shop around until you find a production support partner you want to do business with long-term. Think scalability from the start.
Every ecommerce enterprise is desirous of increasing traffic and conversions. Ecommerce marketing involves the developing and utilization of promotional tactics to drive traffic to your online store, effectively converting traffic into paying customers and retaining them.
An excellent ecommerce marketing strategy is holistic, bringing together marketing tactics both on and off site. A sound marketing strategy will enable you to build brand awareness, inspire customer loyalty, and ultimately increase your bottom line.
You can use various marketing tactics like ad campaigns to promote your online store and to drive more sales for specific products. Some of the best ecommerce marketing strategies involve email marketing workflows that automatically send targeted messages following specific actions or triggers.
Another brilliant strategy involves the printing of market information on receipts at the POS. Information about your loyalty program, sales promotions, links to your social network sites and coupons are all great marketing tactics that are printable on your customers’ receipts.
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5. Inventory Management
Product inventory is classifiable as a tangible asset because it offers real-time evaluation of the revenue a company is generating. If an ecommerce store can’t move products from its inventory, it is a clear indicator that sales are struggling and must adjust its operations or risk losing profitability.
Inventory management is crucial. As a company expands and depending on the shelf life of some products, individual businesses have to move inventory a lot quicker than others. Too much stock will increase overheads, while too little will reduce revenue.
An ecommerce company looking to scale yet doesn’t have enough inventory runs the risk of losing out on potential sales and overall market share. Ecommerce companies with sound inventory management systems can be continuously updated.
Businesses have more control over multichannel order flow with back-end visibility greatly improved with inventory management software. Additionally, data synchronization is achieved across all platforms and increased visibility results in the enhanced overall product organization.
6. Customer Service and Analytics
The statement “the customer is king” rings even truer when it comes to ecommerce. Without an actual person to talk to when they need information, a concern addressed, or product advice, online shoppers can abandon an online transaction in a heartbeat if your customer service is not switched on.
Critical to your business’s long term success, customer service is one area where there should be no compromise. A few great ways to make sure you cater for your shopper’s needs are; creating self-service content and a detailed FAQs page, offering live chat support, product reviews and are chat bot integration.
Customer relations will give your business great insights on spending habits, product popularity and more. Excellent customer service will help in building customer trust and loyalty. A happy shopper will always come back, ready to spend.
Finally, as a business and brand, you should never stop evolving. Technology, trends and customer tastes will change, and you must strive to keep up if you want to succeed in such a volatile and variable market. With these six tips, you will be well on your way to scaling your ecommerce business. Read More