Planning an E-Commerce Brand

Admin | September 29, 2021 | Category: Blog

Here are salient features to evangelize your potential customers into lasting ones; how to twist your e-commerce brand for the better!

It’s always the right time to shop with your e-commerce website or app – be it 2 AM or 2 PM. It allows you to buy or sell tangible goods, products or services online at the place of your convenience. E-Commerce is electronic marketing. Traditional businesses include – manufacturer unit, distributor, wholesaler, retailer, customer, advertisement.

Traditionally, many companies had a perfunctory online presence to supplement their in-store experience. People used to browse online to check the availability of items and relevant price comparisons. Now, these websites help in optimizing the search. Retailers didn’t want to sacrifice their in-store sales.

Why use E-Commerce?

Low entry cost
Reduces transaction costs
Access to the global market
Secure market share

Types of E-commerce

Business-to-business (B2B) online transactions involve buyer and seller are two different entities, similar to manufacturers issuing goods to the retailer or wholesaler.
Business to Consumer (B2C) involves businesses selling products online to consumers. It is the direct online trade between the company and the consumers.
Business to Employee (B2E) involves an intra-business network where companies provide products or services to their employees. E-commerce website development companies use B2E networks to automate employee-related corporate processes.
Consumer to consumer (C2C) involves many websites that offer – (1) free classifieds, (2) auctions, and (3) forums where individuals buy through online payment systems like PayPal.

How does E-commerce work?

Ecommerce websites allow customers to find their product(s), add them to their ‘cart’ and securely enter their payment information to complete their purchase.
Electronic businesses work on business models that facilitate online sales. Consumers use web browsers to connect to the home page of a merchant’s website on the internet.
The consumer browses the catalogue of products featured on the site and selects items to purchase. The select items get a place in the electronic equivalent of a shopping cart.
When the consumer is ready to complete the purchase of selected items, she provides a bill-to and ship-to address for purchase and delivery.
When the merchant’s web server receives this information, it computes the total cost of the order – including tax, shipping, and handling charges – and then displays the total to the customer.
The customer can now provide payment information, such as a credit card number, and then submit the order.
Upon validation of the credit card number, the order completes at the Commerce Server site, the merchant’s site displays a receipt confirming the customer’s purchase.
The Commerce Server site then forwards the order to a Processing Network for payment processing and fulfilment.

What are the pros and cons of E-commerce Websites?

Pros of E-commerce Websites

No checkout queues
Reduced prices
Shop globally
Easy access 24/7/365
It caters to consumers of all demographics – age, profession, preferences

Cons of E-commerce Websites

Unable to examine products personally
It does not work without the internet
There are chances of credit card number theft;

How can you convert your e-commerce website traffic?

A vital part of conversion is to offer customers exactly what they are looking for; It might sound deceptively easy, but most retailers get it wrong.

Companies use – (1) AI-enabled search tools, (2) virtual assistants, (3) advanced search, and (4) suggestions, (5) repeat purchase, (6) related search, (7) what goes best, (8) combo offers, (9) seasonal discounts and offers, (10) festive treats, (11) best in this price, (12) best seller, (13) dollar value discounts, (14) percentage discounts, (15) buy one – get one, gift, and (16) free shipping.

Moreover, engaging the voice of the customer can illuminate what works and what doesn’t for an e-commerce retailer’s site.

Also, the best way to resort and improve the overall customer experience is by predictive analytics. It helps companies understand how much inventory they require in the coming days. It also clarifies how the demand-supply gap comes up; and what the competitors bring up within a similar price range and category. AI enhances forecasting, and AI-driven demand forecasting improves accuracy.

Scaling an e-commerce business enables more precise inventory investment, leading to fewer markdowns and clearance. It prevents waste and enhances sustainability. Predictive analytics manages customer’s expectations on the product, pricing, availability, and delivery times. It personalizes the customer journey, listening to the voice of the customer, and putting predictive analytics to work will be the only way that any retailer can take. But if you offer the customer exactly what they want in a shopping experience designed just for them makes omnichannel promises a reality.

Factors to Consider When Creating an Ecommerce Site

Website safety and security
Optimization before and during eСommerce website development
Website search and filtering functionality
Registration and related issues
Payment options
Shipping rates
CMS integration
Mobile functionality
A website design that matches the products you are selling
Good shopping cart design
Proper product showcase and descriptions
Customer support and contacts – Add various chat options for those who don’t wish to talk on the phone;
Social proof – Written reviews or product unboxing
Good Marketing strategy
Supporting Blogs and articles

Top E-Commerce Platforms of 2021

Best Overall: BigCommerce
Best for Startups: Squarespace
Best for Small Business: Wix
Best for Large Business: Magento
Best for Ease of Use: GoDaddy
Best for Dropshipping: Shopify
Best for International Sales: Smoolis
Best Affordable Option: Square Online
Best for Brick and Mortar: Weebly
Best for Online Only: 3dcart

Critical Factors to Consider While Investing In E-commerce Ventures

Customers leave E-commerce businesses in the dust – (1) If they don’t know how to use the site, (2) If the product value isn’t clear, and (3) Navigation is difficult;
Besides following the software development life cycle, businesses need to consider – (1) Branding, (2) SEO, (3) User Experience, (4) Transparency, and (5) Engagement;

In Conclusion

Electronic commerce websites have brought customers to the center of everything. Companies (1) track their purchase history, (2) preferences, (3) site visits, (4) purchases, (5) relevant assortments, (6) the voice of customer data, and (7) predictive analytics to give brands the ability to be fully customer-centric, allowing the customer to dictate how they want to shop regardless of the channel. Also, rewarding them on their every purchase as percentage discounts, loyalty points – can be a great way to evangelize them. Branding is your purpose; SEO brings in traffic; Customers love a great user experience; Transparency builds trust. Boost overall engagement. Follow us for more relevant updates!

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Tags: eCommerce Development, eCommerce Website