Best IT implementation trends to boost your E-commerce business
The eCommerce market is rising globally and is expected to grow at CAGR of 11.1% till 2025. In the eCommerce ecosystem, the B2B market is almost twice as big as the B2C market. All these developments in the eCommerce industry are primarily due to the technological advancements in recent years leading to transition of market from physical boundaries to digital realm at a growing pace. Also a significant contribution is from the rise in mobile and internet usage in the industry and people at large. With the advancement of technology and support system, there has been a significant transformation in the digital sphere catering to the eCommerce platforms, all credits to the hard working developers and IT experts in the industry.
Regular changes and updates in the digital transformation sphere has contributed towards a boom in the eCommerce market and opportunities associated with it. Businesses are undoubtedly in a race to get the competitive advantage by strategic implementation of these major changes in the digital ecosystem and deliver the best they can offer to enhance customer experience.
In this article we will discuss some of the major aspects of strategic and technological implementations necessary to boost any emerging eCommerce business at present day scenario:
To improve customer retention and enhance productivity of any eCommerce business, it is imperative to have a top class user experience. Ultimately it is the user of the platform that decides on the usage frequency and timeline. The better the experience, the better is the retention and engagement. The experience has to be seamless and user friendly throughout the transaction. Tools that are increasingly getting popular these days are:
Visual search: Using image recognition technology, scanning a picture of an object to find an exact or nearest match of it from the product catalogue available online can make the work of the user much easier and hassle free.
By using voice recognition technology and matching the keywords of the products with the query of the user, appropriate supply demand matches can be achieved and the user can save a lot of time usually wasted in manual search and sort process.
Augmented Reality (AR)/Virtual Reality (VR):
Allowing the user to see and experience the products in 3D and realistic environments using AR and VR technology to ease out the decision making process of the user can definitely increase the conversion ratio and business returns. This requires a combination of hardware and software implementation in the existing platform.
Multi Channel selling:
This involves integrating eCommerce interfaces into different popular channels including social media platforms to enable users to access and do the necessary transaction without having to navigate through the main website or main channel.
Using Customer Experience Management tools can help in tracking and organization of all customer interactions and feedback so that the business can focus on the actual needs of the customers. This enables in filling the gap between the desired customer experience and the actual customer experience.
Use of advanced chat-bots powered by AI and machine learning can automate the dispute resolution process and make the customer support system very efficient and robust while reducing the cost associated with manual intervention as much as possible.
Infrastructure & Operations
To make the business as cost effective and flexible as possible, use of advanced technology and tools can be very helpful. Tools and technology such as ERP, AI and Machine learning, IoT, Robotics and Automation, Industry 4.0 etc.
Control over analytics
Using appropriate analytics and data presentation tools can significantly assist the stakeholders in gaining insights on business processes and thereby improving business efficiency. Maintaining an easy to access and easy to use dashboard where most of the data from various sources can be collected, analyzed and displayed across platforms is something the business needs.
Speeding up shipping process
The faster the delivery, the better is the customer satisfaction. There is no denial in fact.
Most of the successful B2C and B2B eCommerce businesses are successful because they deliver as per their promise and while timely delivery is a norm, early delivery results in customer delight. To achieve these results, one needs to improve the Manufacturing, supply chain, logistics and planning of operations.
Efficient planning coupled with other parameters will enable a business to speed up the delivery process.
Subscription, rewards and loyalty
Subscription based model is successful because of the fact that services and offerings can be more personalized and presented in a way that can promote the user to access the services more frequently. Along with personalization, rewards and loyalty programs enable the customer to feel delighted for getting more than what was wanted and forms a way for the business to express gratitude to the customers for their loyalty and regularity. All of these programs including point based loyalty mechanisms need a dedicated interface and digital platform which the developers can very easily integrate into your existing platform.
The eCommerce industry is transforming drastically every year and it is very critical for your business to analyze the latest trends in the industry and implement them in your business unless you want to stay behind and get lost in the crowd. An easy approach to this is to take help from Industry leaders like Metricoid Technology Solutions Private Limited. Having a talented team of more than 12 years of experience in the field of digital and IT solutions for numerous companies, Metricoid can really handle the requirements of all eCommerce development needs with ease and at most affordable pricing. Do check out the website for more information.