Optimising eCommerce Strategies: The Holistic Approach and Frameworks

The truly revolutionary impact of the Internet revolution can be seen through eCommerce development. This explosive emergence of the internet business as a major worldwide distribution channel of good and services is something which probably no one had foreseen it a few years ago. The eCommerce has profoundly changed the market and industry, economics, consumer segmentation, consumer behaviour and their values and product and services and their flow. However, the impact may be even greater in our societies and above all the manner we see the world and ourselves in it.

eCommerce Strategies

As eCommerce is a growing market, thus every aspect of it should be optimized to provide excellent service to the consumers. As the chances of expanding your business remains higher through eCommerce development, however, the most important question is “HOW” to implement the successful approaches and the right framework for a successful online venture.

Well, through extensive studies and researches, I have found some of the best strategies and solutions to help you grow as a successful Etailers.

The four major approaches for eCommerce development: 

DEVELOP A MULTI CHANNEL RETAIL STRATEGY:

Customer Centricity:

Allow your customer to shop what they want especially through the three important channel- web, store and mobile and measure the offline sale.

Choice and consistency:

The long-tail product strategy is important for a multi – channel retailer.

It is key to use customer insight for better synchronized marketing and optimizing the products and services.

DEVELOP A FULL DIGITAL STRATEGY:

It is important to analyse the market to understand the market size, market attractiveness and target customer. The awareness of the technological trend and your key consumer is critical to support your own choice. However, if you opt for social media strategy, you need to ensure that it is actively managed and well supported.

Experts are predicting that mobile commerce is likely the one area which is gaining in popularity. It is vital to include devices as a touch point approach to ensure web and mobile is catered for.

Decide your investment plan with regard to the digital aspect.  There is a need for high capital when purchasing hardware, building the back-end, the front-end and back-office, building the securities and building the redundancy while you have the option of running your digital presence in the virtual cloud. Besides, you should understand the risks associated with such high investments such as

             What service levels are promised? What redundancies are guaranteed? And what recourse do  you have?

         Understand how well is your critical data secured? Whether it is in line with the governance charter and data security of your board?

          What are the cost structures? Is it a commission per sale or a cost per transaction?

It is key that your business goes digital with the system which will enable the business’s multi-channel strategy through managing the customer data integration.

DEVELOP A FULFILLMENT STRATEGY:

One of the key factors is the integration of the online channel with the other channels in the supply chain. However, many businesses are shifting from stand-alone fulfilment to matrix fulfilment strategy. These involve:

Pick and pack in store.

Pick and pack in DC, ship to customer.

Pick and pack in DC, ship to store.

Pick and pack at supplier, ship to customer.

Pick and pack at the supplier, ship to store.

The key to ensure secured margins and retail selling price is to build the correct distribution channel which will offer an understanding of the costs and complexity in the various channels involved in the business.

DEVELOP AN ECOMMERCE CORE COMPETENCE:

Core competence is required to drive the following:

Traffic or customer marketing that includes:

Community development

Search engine optimization

Shopping site expansion

E-mail expansion

Affiliate marketing

Site relevance that includes:

Shopping cart improvement

Cross/up selling

Site relevancy and re-targeting

Product discovery

Conversion that includes:

Product content improvement

Product review improvement

Navigational improvement

Re-launch user review program

Social media that includes:

Integration of Facebook, Twitter and WI Ki

The integration of UGC.

As you now have the best approaches with you, have you ever thought about the solution of any problem that might occur in the due course of time? Well, if you have not, then I have the top four popular eCommerce solutions for any problem that arise.

OpenCart:

This is an important online shopping solution for your eCommerce website that allows trouble-free shopping to the shoppers. It integrates better functionality than any other shopping cart system. Some of its improved features involve Payment Gateways, Multi-Language, search Engine Optimization, 8+ Shipping methods, Unlimited Manufacturers and many more to add. In addition, OpenCart allow customers to write suggestions and reviews for any product or services.

PrestaShop:

This framework has excellent featured back-office application that allows crucial business operations such as orders, shipping, inventory and customers in real-time. PrestaShop with its latest security technology allow payment directly to your commercial bank account. You can get unlimited amazing themes including responsive themes to set up an online product store.

VirtueMart:

VirtueMart is an excellent plugin for Joomla. It enables you to add unlimited number of products and categories to your online venture. This online plugin distributes the sale of downloadable products when the shopping cart feature is off. VirtueMart plugin is best for supporting different prices for a single product.

OsCommerce:

Packed with amazing features, osCommerce delivers the exact needs of every business by providing complete store solutions to the online business. The greatest feature of this plugin is that it is loaded with innumerable Add-ons which can be customized according to the client’s requirements.

If you fail to connect with your customer, someone else will do the needful. Thus, explore these approaches and the frameworks as much as possible to help your online venture grow efficiently. 

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