eCommerce Strategy

5 Signs Your eCommerce Strategy Is Falling Short

Do you know how much eCommerce sales have grown since the start of the coronavirus pandemic? Going by current industry estimates, online shopping represented as much as 21.3% of total retail sales for the year 2020eCommerce Strategy

As the eCommerce sector has become more crucial, it has become more competitive. Retailers and brands are constantly going through digital transformation and rolling out innovations to differentiate themselves and engage customers.

But is your eCommerce platform optimized for digital transformation? Are you meeting your goals and objectives? If you suspect that the answer to these questions is no, then your eCommerce strategy may be falling short. But how can you know for sure this is the case?

Here are five signs your eCommerce strategy might be falling short.

1. Poor Customer Experience (CX)

Do your online shoppers feel less than thrilled about their entire shopping experience in your eCommerce store? Low online conversion rate, high churn rate, increased return rate – these are only a few of the vital metrics that point to a deeper malaise in the customer experience (CX) you’re delivering.

A recent study by American Express found that 86% of customers are willing to pay more for a better online experience. On a similar note, a PwC research study concludes consumers are willing to pay up to a premium price of 13% for luxury items and services – provided they have a great online experience. That’s the upside of providing a great CX. The downside of not doing so is high too. 50% of potential buyers will not return to your store if it is not optimized for their mobile phones. An example of the business impact of CX is that of the online grocery retailer, Albertsons which lowered its bounce rates by improving its basket size and building speed by 25%. This is how crucial a good CX solution is for your business success.

2. Lack of SEO Optimization

Do your customers find it difficult to find your online store – or their desired products in your store? That is due to a lack of SEO optimization.

In today’s digitally connected world, search engine optimization (or SEO) is a crucial part of any eCommerce platform. Why? Because at least 35% of consumers start their search for any product or service from search engines like Google. According to Serpwatch, nearly 40% of the eCommerce traffic globally comes from search engines – with Google still dominating this space with 79% of the organic traffic.

No matter whether you are new to eCommerce or not, good SEO practices like focusing on enriched and relevant product descriptions, using the right keywords, internal linking, and optimizing images and videos can maximize your “searchability”.  Do you want to improve your product listing on Google? Google Shopping can be the answer for showing better organic results.

3. Lack of integration with third-party solutions

Are a growing number of customers seeing the dreaded “out of stock” notice for the products they need? Are they not able to efficiently track their orders? Are they unable to get any information about product availability? On a related note, is your high shipping or delivery costs a hindrance? That apart, are your business executives or employees complaining about having limited access to vital business data that is crucial for taking proper decisions?

These issues could primarily arise due to the lack of meaningful integration between your eCommerce store solution and the third-party solutions the rest of the business relies on. Business solutions like your ERP, inventory management, order management, contain crucial information that must be tapped to provide more transparent visibility to customers and employees alike for impact and efficiency. For instance, poor inventory management could lead to either under-stocking (leading to out-of-stock products) or over-stocking (impacting your cash flow in sunk inventory).  Online sunglasses retailer, Shady Rays, implemented an efficient inventory system that could deliver 10,000 orders in a single day in 2019 – up from just 20 daily deliveries in 2012.

4. Poor marketing and customer acquisition

Are you finding it hard or more expensive to get more customers and grow your user volumes? Well, you’re not alone.

Customer acquisition is hard and costly – 31% of companies report that their acquisition costs are increasing. Also, there is the problem of marketing budgets going to waste due to a lack of nuance and careful consideration. A common mistake is that retailers and brands apply the same marketing and communication strategies that worked for them in the offline world to their online strategy to, not surprisingly, no effect. According to this CMSWire article, 80% of marketing spending in the eCommerce sector is wasted by companies in an attempt to increase their market reach or encourage repeat purchases.

eCommerce platforms need to find innovative ways of acquiring and retaining customers to improve their marketing ROI. Be it effective SEO marketing or through content marketing, an efficient online marketing strategy is the backbone for any eCommerce platform. For instance, customer analytics can drive better personalization and targeted marketing. Becoming visible to new customers and convincing them to make the trip to your eCommerce site depends on your ability to connect with them and resonate with the value propositions they care about. That’s where “knowing” the customer can go a long way in improving your marketing ROI. In that context, with more online consumers moving towards unified commerce – involving multiple touchpoints, eCommerce marketing also needs to evolve to cater to changing buyer behavior. For example, home improvement retailers have increased their conversion rate by implementing a unified omnichannel experience for their consumers based on an understanding of the complex research and buying journey they undertake.

5. Lack of quality product information

Are you seeing more abandoned shopping carts? Are your buyers spending a long time, perhaps too long, on the product pages? This could be because the product information is inadequate or ineffective.

The eCommerce sector has long understood the value of good content on their online stores attracting new visitors, reducing abandoned shopping carts and bounce rates, and driving buying decisions forward. Detailed product information that empowers easy product searches or proactively addresses queries is key.  Quality content also allows your users to learn about your business and make them feel comfortable shopping with you. An interesting case study is that of popular American retailer, Torrid, who was able to win their customer trust by simplifying the search experience on their store.

Conclusion

For success in the eCommerce domain, online retailers need to be mindful of several critical factors but also crucial is the ability to see the signs of trouble early so fixes can be applied. Getting the eCommerce platform right is a big part of the strategy, as are several other significant areas. As an eCommerce expert, Ignitiv has enabled its customers to revolutionize their online business model.

Looking to revamp and transform your eCommerce platform digitally or build a powerful future-focused strategy? Contact us now.

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author: Name of Author     Date:Jun 2,2021

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Ignitiv, a leading eCommerce agency is proud to announce the addition of a new customer, United Hardware. Ignitiv will deliver to United Hardware, a state-of-the-art eCommerce solution powered by Kibo Commerce’s Unified Commerce platform. United Hardware aims to use eCommerce as a driver for, both, business growth and enhancement of customer experience. Once live in Q3 2021, the site will allow customers to get rich product information, check for availability in nearby stores and buy online to pick up in stores. Store managers will also get the flexibility to communicate their offers and promotions.

Doug Audette, CEO of United Hardware, said, “Building a modern personalized eCommerce site is a strategic push to enable our dealer stores to present a better omni-channel experience for our customers”.

Rajib Das, CEO of Ignitiv, added, “With our home improvement industry eCommerce solution built on Kibo, we are delivering, within budget and time the solution that enables United Hardware to execute on growth and customer experience”.

United Hardware Distributing Co. is a dealer-owned corporation based in Plymouth, Minnesota which provides distribution services for about 610 member-owned stores operating under the Hardware Hank trade name.

#unitedhardware #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce

 

Coastal Construction Products Partners With Ignitiv and Kibo to Jumpstart eCommerce Growth

“With this solution, we want to establish and sustain digital leadership in the construction industry." - Tim Lavinder, Director of Digital Strategy at Coastal

CUPERTINO, CALIFORNIA, US, May 28, 2021 /EINPresswire.com/ -- Ignitiv, a leading eCommerce agency, and Kibo, the leader in unified commerce, are announcing that Coastal Construction Products has selected Ignitiv and Kibo to jumpstart their B2B Commerce growth with Kibo’s Unified Commerce Platform. Coastal’s B2B Commerce solution will combine unified omnichannel B2C-like experiences with streamlined B2B processes. Coastal’s business customers will get personalized product information, rich associated content, real-time inventory updates, customer and job-specific pricing, and the ability to order quickly and in a streamlined manner – all leading to a superior experience.

Coastal will also benefit from a seamless integration between Kibo and Prophet21 ERP software using SimpleApps’ REST API.

Tim Lavinder, Director of Digital Strategy at Coastal, said, “With this solution, we want to establish and sustain digital leadership in the construction industry. Our goal is simple - deliver real and unique value to our customers through a tool that puts their needs first.”

“Coastal’s strategy to create unified ecommerce experiences for their customers is the best way forward in our omnichannel world, continually improving performance and process at across every customer touchpoint. We’re excited to partner with Ignitiv and Coastal as part of their integrated, data-driven approach,” said Brian Wilson, COO, Kibo.

“Great mobile-first design that optimizes the customer journey, a platform that combines Commerce, Order Management and Personalization, and comprehensive integration to ERP are the three levers we are using to build a platform for growth for Coastal Construction Products,” said Rajib Das, CEO of Ignitiv.

Coastal Construction Products is one of the largest independent distributors of caulking and sealants, waterproofing, concrete repair, and fire protection products in the United States. With roots going back 40 years, Coastal Construction Products has worked with its construction industry customers across the Southeast and the Caribbean, assisting them with quality materials and support.

About Ignitiv
Ignitiv is a full service agency that combines strategy, digital marketing, technology and customer analytics expertise to help craft integrated digital experiences that deliver more customers, more revenues and more profitability. Ignitv is the partner of choice for Home Hardware, Canada Post, United Hardware and Bi-Mart.

About Kibo Commerce

Kibo is the only extensible, unified commerce platform that delivers personalized, omnichannel experiences. The platform combines AI-driven personalization from industry leaders Monetate and Certona, omnichannel commerce for B2C and B2B models, enterprise-grade order management, and AI-driven point of sale. Global clients like Office Depot, Taco Bell, and Patagonia rely on Kibo's API-first, microservices-based architecture to support a wide range of commerce strategies, including headless commerce, that meet high growth goals and customer expectations at a manageable cost of ownership.

#ignitiv #leadtheexperienceeconomy #coastalconstruction #ecommerce #kibocommerce #unifiedcommerceplatform #prophet21

 

United Hardware to fuel eCommerce growth with Ignitiv and Kibo

Ignitiv, a leading eCommerce agency is proud to announce the addition of a new customer, United Hardware. Ignitiv will deliver to United Hardware, a state-of-the-art eCommerce solution powered by Kibo Commerce’s Unified Commerce platform. United Hardware aims to use eCommerce as a driver for, both, business growth and enhancement of customer experience. Once live in Q3 2021, the site will allow customers to get rich product information, check for availability in nearby stores and buy online to pick up in stores. Store managers will also get the flexibility to communicate their offers and promotions.

Doug Audette, CEO of United Hardware, said, “Building a modern personalized eCommerce site is a strategic push to enable our dealer stores to present a better omni-channel experience for our customers”.

Rajib Das, CEO of Ignitiv, added, “With our home improvement industry eCommerce solution built on Kibo, we are delivering, within budget and time the solution that enables United Hardware to execute on growth and customer experience”.

United Hardware Distributing Co. is a dealer-owned corporation based in Plymouth, Minnesota which provides distribution services for about 610 member-owned stores operating under the Hardware Hank trade name.

#unitedhardware #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce