Do you think it is time to get an all-in-one Ecommerce solution? -
Whether you're selling an app, digital content, or software, there will always be a time when you need think about what you can do to make money off your product or service to grow your company.
Subscription? One-time payment? Will my product or service be available around the world? What would the purchasing experience be similar to? What will be the process for collecting payments? There are infinite number of thoughts that will be in your mind when you are beginning to think about the ecommerce potential of your business.
The cost of investing in tools that are homegrown as well as accumulating point solutions from third parties will only get your company to a certain point. However, how can you determine when it's the right time to purchase a complete ecommerce solution?
To help you out, here are some of the external and internal factors you should consider when deciding if an all-in-one eCommerce platform is right for your company.
The External Factorsand the State of the Ecommerce Industry
Consumers are embracing digital commerce.
There's an possibility for businesses to profit from the market that is growing. The key to success lies in focusing on the experience of customers.
Companies must be focused on global consumer preferences.
Cross-border ecommerce is on the rise. Forrester estimates that international commerce is expected to comprise 20% of ecommerce by 2022, and sales will reach $627 billion. Consumers are no longer concerned about the physical location of the business they are considering to making a purchase on the internet. They have high expectations for their shopping experience.
They key to success in the increasingly globalized world is to accept global payments that offer localized prices, various languages as well as maintain the global and local compliance of tax and regulation. The right ecommerce solution will manage localized purchase customer experiences for every customer around the world.
The Internal Factors; Your Company
Increasing costs by using DIY or point solutions are making e-commerce experience disjointed.
It may appear to make sense investing your funds into creating a homemade ecommerce solution. Actually, a customer, Nelio has explored the homemade option before choosing's the complete platform for ecommerce. However, these internal products typically require a large period of time as well as money to maintain. And the focus of your internal teams could be better utilized for more important things--like building innovative products and services that aid in the growth of your company.
On the other hand it is not possible to limit to the amount of points that your company can buy to handle every aspect of the online shopping experience. But, the competing solutions will end up costing your company more in the end run, and will limit your business' ability to deliver the perfect e-commerce customer experience that they have come to expect.
Low conversion rates are limiting the revenue you can earn.
When it comes to poor conversion rates, it's typically you, not the customer. Are site visitors shocked by tax-related surprises? Are they concerned about the site's data security and the transaction? Are they annoyed by the limited selection of payments?
There are many elements that play a role in low conversion rates on your website. An all-in-one solution for e-commerce will empower you with best methods and standards in the industry that inspire confidence in your site visitors. If you're struggling to achieve the sales volume you were looking for, it could be time to make the switch.
Checkout processes that are out of date can interfere with the growth of your company.
Third party hosted checkout pages as well as clunky checkout experience will not make it any more. Consumers expect a seamless, branded experience throughout the entire checkout process. If they don't get the experience they expect then they'll look towards companies. Relying on development resources for updates to the pages of your products is a waste of time and money.
Take the time to do an audit of the checkout flow. Heatmaps can help you identify areas where customers are dropping off prior to making purchases. Combining that information with an e-commerce platform of the top quality that will help you build modern purchase experiences featuring popup checkouts that are directly linked to your product page, the ability to add discounts that are exclusive, as well as offer sales and cross-sells. This is all without having to depend on support from developers!
Do you have some external and internal forces affecting your business close to home? It may be time for you to move to an all-in-one ecommerce platform that can manage all aspects of the ecommerce experience for your business. Schedule your custom demo today.
