E-commerce has changed the way traders do business. It has opened up a multitude of opportunities that would have never been attainable otherwise. Even the smallest manufacturers who can’t afford the typical brick and mortar stores now have the chance to reach markets thousands of miles away; a fact that is quite marvelous. The revolution created by e-commerce has altered the way business is conducted, bringing new business models to life that can cope with the new market dynamics.
It did not take long for entrepreneurs and aspiring business enthusiasts to realize that this is where the future lies. One look around and you will see how dependent we, as consumers, have become on online shopping to fulfill basic needs; our favorite retailers are only a click away. While it is every consumers’ dream come true, for those working in e-commerce, the challenges are ever multiplying.
The fierce competition, difficulty in shipping, and customer retention challenges threaten to stifle profitability, forcing business owners to continuously try to figure out ways to survive and supersede the competition in what seems like an already saturated market.
If you work in e-commerce, read below to understand how you can streamline the process of your business:
Hire an order fulfillment shipping company
Shipping problems are the most common issues that e-commerce businesses face. Timely, accurate, and excellent condition delivery is where the competition transpires between different retailers. Your shipping process can become more efficient by finding the right partner to help you optimize your shipment fulfillment process. You will no longer have to worry about increasing carrier pricing and external fulfillment fees. By shifting this burden to a trustworthy and experienced network, you will save time and money that you can spend on your e-commerce core business functions.
Simplify the ordering process
Many e-commerce businesses suffer from the common phenomenon of “abandoned cart”. Unless you are selling a niche product, customers can easily lose interest if your online ordering process is tedious and long. Customers can be lazy, so long purchasing processes can make them reluctant to go through with it and simply abandon their virtual carts costing you potential sales. To help you streamline the ordering process on your website, minimize the number of steps the customer has to go through before the final checkout. A checkout system with progress indicators can also help reassure customers that their order process is moving successfully, resulting in higher checkout rates.
Provide real-time customer support
While the appeal of e-commerce lies in the simplicity and speed of automation, you still want to highlight the human aspect. Customers often feel frustrated when they are facing a problem with their order but all they get are automated replies and a set of FAQs. By utilizing the services of a 24/7 customer support through live chats and social media, you will be providing your customers with the human touch they want and increasing your chances of remaining their online marketplace of choice.
Unify customer experience across different platforms
With people depending on their mobile devices for everything nowadays, providing an excellent shopping experience on your mobile app will help you secure even more sales. Customers should have the exact same experience in your online shop whether they are using their smartphones or computer browsers to access it. You want to create a seamless transition across devices; if one customer starts a purchase on their laptop they should be able to easily switch to their smartphone, vice versa. The interface should be uniform and all data efficiently synchronized.
Revise your payment processing system
By providing a range of payment options and accommodating different needs, you will increase your customer reach and consequently your profitability. Cash on delivery system, for example, allows you to tap into the vast pool of potential customers who are still reluctant to share their credit cards and personal details online. Whatever set of options you choose to provide, the most important thing is to secure the whole process and highlight your privacy policy for your customers to ensure your credibility in protecting their private information.
Improve your packaging system
Irresponsible packaging options have triggered environmentalists and pro-waste control activists to wage a war on e-commerce businesses. This has led many customers to boycott even the biggest e-commerce traders as a way of pressuring them to adopt smarter packaging systems. By finding greener packaging alternatives, not only will you be viewed as a socially responsible business, but you will also push down your expenses and enjoy bigger profits.
Succeeding in the e-commerce business will not come easy. However, the key is to have an open channel with your target customers to understand how to serve them better. Extensive market research is needed to find out such answers, but the efforts and money will prove worthwhile when you have a reliable customer base. By streamlining your process, your business will become more efficient and allow you to shift your focus to more important business concerns.
