How To Create A Successful Ecommerce Platform In 2017
By 2020 global ecommerce might be worth $4 trillion and there’s no sign its growth will slow. How do you create your own successful ecommerce cash cow? Here’s how.
The global ecommerce market has already transformed business.
Psychologically we have also been transformed by ecommerce. As online shoppers our expectations are sky high. Ecommerce platforms have introduced us to things such as price comparison, first class information, 360 degree pictures, 24/7 access and an element of personalization. We’ve seen ecommerce morph into the ultimate egocentric fantasy playground. Dominating the physical shopping space is no longer the only ambition retailers might harbor. Now, building a global ecommerce platform is much more exciting. So how do you start?
Every retailing idea obviously deserves some consideration.
We live in an agile, transformative world. Every day brings new challenges and needs born from the way we live our lives and expect to do business. Retailers must consider cross-channel digital marketing, customer data science, artificial intelligence and internationalization alongside direct-to-consumer fulfilment. The importance of reliable technology and data-driven expertise will underpin every venture beginning now.
We just need a good website don’t we?
You may think that after the good idea comes web development, but wait just one moment. Selling to consumers with heightened expectations makes ecommerce a complex beast. Consumers are empowered. They currently have more choice than any other time in history, and they have significant power to help support or trash your business. Therefore, whatever you promise — you must deliver. To stand out, to differentiate, to fulfil in an omni-channel environment, ecommerce must get it right every single time.
Ecommerce platforms need excellent supply chains.
Your ecommerce platform needs to fulfil orders fast and efficiently. Consider what you are going to offer. Do you have the capacity to offer click and collect? What about returns or exchanges? Will customers be able to pick up their parcel from a post office outlet or a secure locker? Customers are not interested in the how — they simply expect seamless operational excellence and not to think about the rest at all.
Will your ecommerce platform cope with reducing order cycle times?
Think about your own expectations. ‘I want it and I want it now!’ is no longer a childlike tantrum phrase. It epitomizes how consumers operate. One or two hour order delivery windows are part of the new deal. Very few expect or want to wait for a delivery. It’s not how people live today. Consumers want their goods when they need them. They are not interested in additional postage and packaging costs either. ‘Free’ at point of purchase affects psychological decisions at checkout.
It’s also likely online shopping revolves around a single purchase, not a pallet or a crate. Different fulfilment models will affect how you deliver. If you don’t plan for this before you set up your ecommerce platform, the business might be doomed before it begins. It’s a no go to disappoint consumer fulfilment expectations. Expect an immediate social media backlash as a basic response.
Don’t damage your brand by failing to fulfil.
Don’t get caught out by the possibility of unexpectedly high demand. You need to innovate to develop commercial and potential reputational authority that in turn will drive demand as customer loyalty transforms into advocacy. Every ecommerce platform already knows faster fulfilment is the major business fundamental. Don’t get caught out. Plan ahead and know exactly what your customers will expect from a brand new ecommerce platform. Prioritize and innovate should be your new motto. For more information download our guide to building and hosting an ecommerce platform where you’ll learn the 10 steps to get you started.
