E-commerce is a tricky business. Unlike other businesses that rely on one specific area like marketing or logistics, eCommerce requires skillfulness in almost all areas. With eCommerce giants like Amazon in many ways monopolizing the online marketplace industry, retailers need to be able to compete using sophisticated technology, not to mention supply chain and customer service.
For other eCommerce stores, keeping up with the competition can be a daunting task, but the good news is that it can be done through third-party SaaS software that helps businesses execute various functions without them having to do the legwork.
To compete, first, eCommerce stores must establish a website. Seems like an easy task, but not so fast — getting a website up and running can be the most challenging aspect of the business. Not only must you design a website that is aesthetically pleasing, you must also create separate pages for each product in your inventory. Software provided by companies like GroupBy makes it possible for you to build effective sites.
Next comes inventory management. Typically, there are two important components to consider, which are the cost of shipping and shipping duration. Unlike Amazon, a startup eCommerce store may not have the luxury to offer competitive shipping amenities like free or overnight shipping. However, there are many SaaS apps that help you build a supply chain network.
All eCommerce store owners know the importance of providing a seamless customer service experience. In fact, positive customer relationships and user experience play a significant role in improving your ROI. If the website fails to cater to the customer experience, the customer will look elsewhere for the same product or service.
On the other hand, satisfied customers tend to stay loyal to a brand and are more likely to recommend them to others. GroupBy’s SaaS-based software provides features for data enrichment, search, navigation, personalization, merchandizing, among other areas. GroupBy’s predictive, intelligent search features will get customers exactly what they want and as quickly as possible. It will also increase the retailer’s understanding of buyer behavior by providing insights into purchasing patterns and intentions based on what they’ve typed into the search field.
Lastly, SaaS technology can help to assist eCommerce stores with their marketing processes. Online stores typically advertise over Google Adwords and Facebook Ads that are also integrated with social media platforms like Instagram. Encouraging your target audience is an important aspect of any marketing strategy in eCommerce.
The bottom line is online shopping is not going anywhere, and as the owner of an eCommerce store, you need to stand out to customers. You’ll also be required to wear multiple hats so it may be beneficial to utilize the SaaS-based tools discussed above. Not only can it help you set up and manage your website, but it can also help you bring down operation costs, thereby boosting your bottom line.