eCommerce tips for establishing strong eCommerce operations
Whether you’re a serial entrepreneur looking to launch an additional retail brand or a first-time merchant hoping to ascend from being an Amazon seller, establishing strong eCommerce operations is no easy task. Although more people are buying online than ever before, competition is incredibly fierce. Those looking to forge their own retail empire will have to pay special attention to how they set up their eCommerce operations, taking special note of the merchants who have outperformed in the past.
As a report from ReferralCandy noted, less than half of all eCommerce retailers are generating more than $25,000 annually. This just shows why planning and preparation are key to success for those entering the retail space – half-hearted and poorly thought out attempts will be met with failure. Here are three eCommerce tips for retailers as they look to strengthen their eCommerce operations:
1. Make use of big data
Analytics, metrics and big data may sound like something that only major corporations can afford, but the fact of the matter is that most modern eCommerce management systems provide some sort of tracking and information services that can help retailers learn more about customers and manage their stores in real-time. Successful merchants no longer rely on gut instinct to run their operations, so whether it’s a big-box retailer with millions of customers or a smaller store with only a few hundred shoppers, leveraging big data is key.
“Data analytics lets you predict customer demand and manage resources efficiently,” Business News Daily contributor Chad Brooks explained. “An analytics solution that is fully integrated with your eCommerce site can enable seamless inventory management and real-time resource planning. Big data is transforming the way companies of all sizes manage their businesses and create strategies, so don’t miss out.”
2. Tailor the eCommerce shopping experience
Piggybacking off the first point, eCommerce retailers need to use data for more than just forecasting and purchasing. Customer data can be leveraged to help personalize the shopping experience and capitalize on various opportunities. A retailer can look at items that shoppers have purchased in the past or viewed on the website to offer pertinent up-sell opportunities.
Once first-time shoppers convert, retailers can leverage order history and other eCommerce data to automatically offer highly relevant coupons, bundles and other deals when a shoppers re-visits, based on prior interactions.
3. Don’t ignore mobile eCommerce
Although mobile devices still account for a relatively small part of the overall retail pie, people are spending more time on their phones and using these handheld tools for mobile eCommerce. Retailers need to ensure that their mobile eCommerce websites are easily accessible via these mobile devices. Additionally, these mobile devices should be integrated into the broader shopping experience – account information should be shared between mobile eCommerce and desktop versions.
If entrepreneurs are taking their first foray into eCommerce, it’s pivotal that they set up their eCommerce operations to support the management of big data, the delivery of a successful shopping experience and consistency across mobile channels. This will help retailers establish a successful base from which they can expand their eCommerce operations.