In today’s technology-run world, more than two billion people now shop online. This means ecommerce businesses need to create an outstanding ecommerce experience to satisfy their new and existing customers—but how?
Below, we answer ecommerce questions that will help you get the most out of your ecommerce business.
Is My Business Considered Ecommerce?
Believe it or not, some businesses aren’t 100% sure if they’re considered to be ecommerce. Many confuse ecommerce with e-business, which refers to the aspects of operating a business online.
By definition, ecommerce is the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.
No matter what business model your organization falls under (e.g. B2B, B2C, C2C), there’s a possibility it could be ecommerce. As long as there is a specific transaction of goods and services, you’re running an ecommerce business. This shift in thinking can help your organization break out of traditional practices and embrace new methods that lead to higher sales.
How Can My Business Stay On Top of Ecommerce Trends?
With so many ecommerce businesses out there, it can be difficult finding new ways to stand out. However, staying on top of trends that affect your business, customers and industry can be a gamer changer in keeping your company’s competitive edge at an all time high.
These six tips will be helpful as you begin trend searching:
Read all you can about ecommerce within your industry.
Attend events in your industry.
Network with people in ecommerce roles in your industry.
Use social media to stay in touch with customers.
Watch what your competitors are doing with ecommerce platforms and websites.
Flex your creativity to find long-term solutions to problems.
What Are the Benefits of a PIM For My Ecommerce Business?
A PIM is a software solution whose foundation is a robust centralized repository for inputting, storing, organizing, modifying and disseminating product data. But what does that mean for your ecommerce business?
For ecommerce sites that offer multiple products from a variety of manufacturers, a PIM ensures all product data is uniformly entered and displayed for your customers.
A good PIM setup will make life easier for you and the rest of your ecommerce business. How? Check out this list of all the benefits you can expect from implementing a PIM:
Shorter product lead times.
Consistent cross-channel information.
Cleaner user experience.
Better product findability.
Fewer product returns.
How Do I Choose the Right PIM System?
If you’ve just decided to implement a PIM system, finding the right platform for your ecommerce business can feel a bit overwhelming. There are so many to choose from—how do you know which will perform the greatest for your organization?
Before making any final decisions on a platform, it’s helpful to understand the features and benefits related to each individual PIM system. Asking yourself the following questions will help you better gauge if a platform is a fit for your business:
Who will be using your PIM system? (e.g. number of users, type of users, etc.)
What data functionalities do you need? (e.g. onboarding, DAM, integrations, etc.)
What data challenges do you anticipate?
What business requirements do you have? (e.g. multiple taxonomies, product relationships, etc.)
How Can I Create a Personalized Experience for Our Customers?
As we mentioned, today’s consumers expect their preferred suppliers to know about their past purchases and preferences. Not only that, they expect the communications coming from your company to reflect what you should know about them.
By making your product data more custom and personalized to your customers, you can easily:
Make purchase recommendations.
Improve the experience of your customers, no matter what platform they are using (e.g. desktop, mobile).
Target product information better based on where your customer is.
Facilitate up-selling opportunities.
How Do I Get My Product Data Organized For My Ecommerce Website?
Two words: Data. Governance.
Data governance is the management of data that ensures the effective and efficient use of information per the requirements, standards, or rules that an organization has set for its individual business goals.
Implementing a data governance strategy within your business will help you get your product data organized for your ecommerce website.
By following these four essential steps, your ecommerce business and data governance strategy will be set up for success: