As the E-commerce industry is growing at a fast pace, so are the businesses evaluating their options to establish their digital presence. According to statistics, around 75% of global customers prefer to shop online. Hence, it is not a surprise to witness that more and more brick and mortar stores are transitioning into online stores. Establishing an online presence requires strategic planning and thorough evaluation.
As businesses decide to venture into the e-commerce industry, the very first roadblock occurs in deciding on the right platform. What we mean by the right platform is an e-commerce platform that aligns with your organization’s needs and vision. Well, if you are experiencing this block, worry not, for we have got you covered!
We have compiled this comprehensive guide that consists of important factors and aspects to take into consideration while evaluating the best e-commerce platform that suits for your business. So go ahead and give it a read!
Evaluate your Business
The very first step for evaluating which e-commerce platform suits your organization is to think about your business and try to answer questions like “What do you want to sell? How complex are your existing business processes?” etc.
Based on the answers, you can look up a wide variety of hosted platforms and Cloud-based e-commerce solutions. Hence the trick here is to weigh everything from existing infrastructure and processes to future plans to ensure that the chosen e-commerce platform aligns with your business goals.
Technical Considerations to Evaluate E-Commerce Platform
The next step in evaluating an e-commerce platform for your online business is to take into consideration the following technical considerations
Scalability is one of the most important aspects to be considered while selecting your e-commerce platform. If your internal applications are sluggish and the customer-facing applications are unresponsive, it is going to affect your business. Hence choosing a scalable platform is important. More so, a website is worthy only if it can handle peak traffic. The e-commerce website needs to be such that it can scale with minimum efforts when need be.
Sound Business User Control
While evaluating the e-commerce applications, you must make sure that the application you select shall be technically and architecturally sound with proven capabilities. You must also look for tools like easy inventory management, a smooth checkout process for the best customer experience, and other digital marketing tools that your business managers can use for themselves.
Effective Search Tool
Search tool is often the first interaction of an e-commerce customer with your website. Hence, while evaluating e-commerce applications, look for business controls that support a compelling and personal search experience.
Reporting and Data Analytics –
E-commerce websites are a treasure trove of information about your customers, their buying behavior, and their preferences. However, businesses usually seem to struggle to figure out how to leverage this data to provide business value. Hence, while evaluating e-commerce applications, ensure that your e-commerce functionality provides you with valuable rich insights because remember that you can’t control what you can’t measure.
Key Features to Consider while Evaluating E-Commerce Platform
It is important to analyze each platform’s strengths and weaknesses. And the best way to do so is to identify the offerings of the platforms in terms of their key features. Here are a few factors you’ll want to consider before you adopt an e-commerce platform.
Check for the basic offerings made by the e-commerce platforms. Typically Standard e-commerce features include a checkout, credit card authorization, cataloging, and more. Compare the offerings made by different e-commerce platforms to find the one that suits your needs.
While selecting an e-commerce platform ensure that your e-commerce platform can communicate with external systems and plugins such as
- ERP and CRMs
- Accounting System
- Support for Different Payment option
- Site Speed
Another crucial factor to consider while evaluating the e-commerce platform is the speed of the site. According to statistics, one out of every five people abandons their carts because the transaction process took too long. Hence it is imperative that your e-commerce site do not slow you down.
Compare Ecommerce Platform Costs
Another important aspect to consider while evaluating e-commerce platforms is to compare the costs. e-commerce platform costs can range a bit high, however, they can be broken down into one of two pricing models the upfront costs, and monthly models.
For, Cloud-based e-commerce or Saas platform, the cost models are as follows
- A monthly platform subscription
- Percentages on a per-order basis
- Monthly fees for additional plugins or services
Find the Most Suitable E-commerce Platform for your Business
Transitioning into the world of E-commerce may not be as easy as it may seem. It needs a thorough evaluation of a lot of aspects. However, e-commerce is surely going to make a massive difference for your business, and hence all the efforts in choosing the right e-commerce platform are worth it
We at KLoc Technologies have an excellent e-commerce website development team that can guide you throughout this process. Contact us today so that we can help you identify and support your specific business needs and build an e-commerce website that fits your needs.