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Crucial Steps that are involved in Implementing an eCommerce Business

09-16-2021 07:28 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: YourRetailCoach

E-commerce is about giving the best-in-class retail experience through the online medium using internet-based technologies. It is about reaching a whole new generation of tech-savvy consumers through digital media and technologies to leave a mark on the consumer’s mind about the unique value proposition offered by your company. When you decide to implement and embrace an e-commerce channel to your already existing business, it is essentially like starting a new business. You will need to build on the implementation steps, take the steps, deal with the issues that arise on the way, and finally achieve the objectives you intended to start. An e-commerce channel empowers your business to sell your products online day and night. It also reaches new clients in the targeted market segment, establishes an effective brand presence, implements cost-effective, powerful marketing solutions, and builds customer relationships through personalized interactive services. Platform implementation is one of the most challenging and daunting aspects of e-commerce set-up ( ), whether it is for your online store or updating your current platform. It is wise to take help and guidance from an experienced consultant, to avoid cost overruns, programming errors and delays resulting in poor sales and reduced profit margin. The key factors that help to succeed online are:

1. Retail Experience

The last mile experience is the guardian block of the omnichannel experience, reiterating the customer preference to online rather than offline. Therefore, it is fundamental to realize the importance of the last mile delivery experience to succeed in your e-commerce business ( ). This delivery depends on the remaining three factors bullet below.

2. E-commerce technologies:

E-commerce requires you to translate all your operations online with respect to the unique needs of your business. Electronic commerce employs a wide range of technologies such as e-commerce platforms, mobile app and commerce, electronic funds transfer via payment gateways, supply chain management and online transaction processing, inventory management systems and automated data collection systems.

3. Logistics:

Logistics is the management of transportation of goods from the point of origin to the point of consumption to satisfy the demands of the consumers. Without a physical presence, logistics is the core of the e-commerce supply chain that provides the last mile delivery experience to the customer. Therefore, you will need substantial research on last-mile delivery partners to key in on the best partner you can collaborate with, depending on the unique requirements of your market needs.

4. Digital marketing:

Digital marketing ( ) helps you reach out to your target audience with the use of smartphones, laptops, computers, tablets to engage with the customers through various platforms, websites, e-mail, social media etc.

E-commerce technology is a vast area and requires guidance from an expert consultant team to:

· Evaluate and choose from various technology platforms in the market that best suit your business needs and customize as per the requirements of your business and market.
· Asses the server capacity to be able to handle the traffic driven
· Consider and mitigate the security risks associated with customer data theft etc.
· Implement the website layout, functionality, and navigation
· Optimize the shop flows and check out which is integral to accentuating the customer shopping experience and brand value.

Some crucial steps that are involved in implementing an e-commerce business are:

1. E-commerce/IT model:

You could choose to own the software or have it hosted depending on factors like budget, size of your business etc. If you choose to have it hosted, there are different options you could do with a shared or dedicated server, Virtual Private Server, or Cloud. Once the hosting model is fixed, you could zero in on other elements like e-commerce technology budget, including equipment, maintenance, support resources etc.

2. Integration Strategy:

Integration strategy should be in line with your business strategy ( ). Your strategy should streamline your business processes for efficiency to fulfil the needs of your online customers. This depends on how your e-commerce site and ERP work in tandem.

3. Technology selection:

Your chosen e-commerce technology should be fully capable of being customizable and complementing the business model, and aligning with the best practices in offline retail to ensure maximum benefit. The functionalities on your website should be carefully researched and analyzed to suit the industry, the target customers, and the varied customer segments who may be potentially scrolling through your website.

4. Customer acquisition:

The new generation of Internet-savvy consumers has led to the dominance of online marketing through search engine optimization, search engine marketing (paid advertisements), social media marketing, email campaigns and display advertisements.

5. Customer Engagement:

Customers these days are in active engagement with the brand of their choice to understand core benefits and value proposition that the brand offers in the likes of discounts, season sales, and customer services like handling of queries, issues, processing of returns and refunds. Engaging the customers through social media channels is a sure way to increase loyalty and instil trust in the customer’s minds.

Building your e-commerce site takes a lot of dedication and work from the whole team, but it's rewarding all the same. Following the right processes and planning accordingly will help ease the journey for you and avoid maximum bumps on the road. That is why it is important to have an expert team with e-commerce implementation experience to guide and help you build e-commerce platforms and to get your online stores up ( ) and to run on the web.

Get advise for Retail Business Consulting :

3025/8, 4th Floor,
Shrinidhi Chambers, Opp. Passport Office,
Before Symbiosis College,
Senapati Bapat Road,
Pune - 411016

About YRC:
If you aspire to build an eCommerce business or implement the e-commerce channel in your already existing business and capture maximum premium from the retail market, get in touch with Your Retail Coach (YRC) retail experts and explore the opportunity and viability of your business idea.

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