A brand sells the product online because of several reasons; provide customers with more selection, right convenience, to offer better prices. If done right, a brand can provide customers with an engaging online experience that is incremental to the overall revenue generation for the company. If you have a website, you can use it to – share marketing information, Drive Revenue, build brand awareness and increase customer satisfaction.
In this economy, it is essential to set up an online store. Initially, creating an online store seems relatively simple and straightforward endeavor. However, when you dig deeper you’ll find that it’s a fairly complex undertaking.
Are you in charge?
To avoid confusion, it is very important to identify the key stakeholders and determine who is responsible for the total success of the e-commerce site that you are building for your business. Ask yourself the following questions,
- Who is responsible for driving the business of your website?
- What authority does that person have to impact the success of business?
- Are all the key stakeholders of the business in agreement?
- How are you going to handle channel conflict, when/ if it arises?
What do you want your online store experience to be?
Every business would want the look and feel of their online store to be such that it directly impact sales. If you’re planning to sell your products and services globally your site needs to have visuals, language, don’t and that’s that sets your brand apart from the other businesses and meet the different demographic needs.
What pricing and promotions will you offer?
It is very important to keep your audience in mind when you’re determining the promotions and pricing of products from your site. Do not forget to take shipping and handling costs and taxes into consideration when determining prices, especially of goods that are sold overseas.
What solution to select?
It is also crucial to decide whether you want an on-premise solution or cloud-based solution. When you open an e-commerce site it is essential that you decide where to invest, choosing an on-premise solution has its benefits as has cloud-based Solutions. Understand the importance of Body Solutions consider your company’s capabilities and goals before you decide which one to pick. To help find answers more quickly ask yourself the following questions,
- Can your internal IT department take on the responsibilities of maintaining an e-commerce site on a Cloud Server?
- How fast would you like to get to the online store up and running?
- Can you afford to The Upfront costs necessary to customize your site?
- Do you have enough in-house expertise for an on-premise solution?
Analytic tools to use?
When you have an e-commerce site, it is essential that you use analytic tools to measure and keep track of the traffic, click-through, abandoned cart rates, conversations, and average order values. Having documented data of the site visits and usage would help you to strategize your business planning, product, and in determining ways to exceed customer’s expectations.
- Determine your tools to drive site traffic and improve conversions.
- Choose tools to increase customer engagement.
What’s your strategy?
The growth and success of your online store widely depend on how well you have a thought-out strategy. When planning your strategy, consider the lifetime value of your customer and the ways in which you can best serve that relationship. Decide whether you want an internal team to carry out your direct marketing activities or understand whether you want to hire an outside agency specializing in eCommerce direct marketing.
What type of digital commerce experience do you want to offer?
There are several decisions to make in terms of what you want to include in your customer’s eCommerce experience and how you plan to deliver them. Weigh all your options regarding content management, translations, hosting, and testing. Analyze what capabilities align with your strategy, check whether you want to offer a recommendation and personalization capabilities, understand what capabilities do you want included in your customer’s online shopping experience, and decide how are you going to deliver your customer’s experience.
How to Handle Order Management?
Order management is an integral process of handling customer orders and making sure that they arrive on time. All the management is basically everything that goes on behind the scenes of a customized eCommerce experience. It includes order orchestration, physical fulfillment, customer service, tax calculation, fraud management, invented management, subscription billing and where to buy functionality. It is important that you decide the ways in which you will implement your order management capabilities for a better customer satisfied experience.
What Payment Options to offer?
A good eCommerce website should provide relevant global payment methods for a variety of demographics across geographical regions, but necessary for global success. There are many customers who can’t and several others who simply won’t buy from you if you do not offer the preferred local payment methods. Therefore, you will have to offer:
- Local payment options
- Alternative payment types
- International credit cards
- Wire transfers
- Online banking
- Mobile options
There are several other aspects to look for when building your brand online. By creating an e-commerce website you are not only teaching several million customers, but you are also creating a brand that is reaching the same customers. You need to plan out and strategize properly before you leave your site. Implement Solutions and measures that are going to work for the table for your business and bring in more revenue. This blog is a road map to take your brand online, it is just a brief idea of what you can do in order to make your brand most successful. However, for the detailed reading you can read the white paper from Digital River.
Facts to Tweet:
- Eighty-one percent of shoppers research their product online before purchasing.
- Sixty percent begin their search for their products using a search engine.
- 61 percent will read product reviews before making any purchase.
- On average, an online shopper will visit 3 websites before making their purchase.
- Retail Sales from shopping online predicted to grow to $370 billion in 2017.
Download the Digital River white paper here.