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e-Commerce Industry News


March 12, 2015
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What separates winners from losers in ecommerce?
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March 12, 2015
SKUTEST-1
What separates winners from losers in ecommerce? What separates winners
from losers in ecommerce?
Competition has heated up in the digital commerce arena as more entities have begun to aggressively approach electronic payment processing and Web based sales platforms. As a result of the saturation still rising in this respect, business leaders have to ensure that they are taking every step to distinguish themselves from the competition, and a few trends have emerged that are very telling with respect to best practices and successful strategies.

First and foremost, ecommerce strategies and general brand initiatives should be viewed as one and the same, as firms are essentially working to boost visibility, conversions and loyalty in various mediums and platforms. When a company already has a strong marketing and sales strategy in place, turning ecommerce into a revenue-driving engine will be a relatively straightforward process from the strategic end, and can be accelerated through the support of a qualified service provider.

The brass tacks
Forbes recently listed some of the more essential ingredients to a successful ecommerce strategy, affirming that the first crucial component is a solid brand identity. Remember, marketing will likely see the wheels come off if there is a lack of understanding as to the basic and more complex aspects of the brand image, and companies will certainly struggle to give prospects and current customers consistent experiences in these situations.

According to the news provider, the next key component is, not all that surprisingly, commitment to customer experience optimization, with businesses that succeed in offering the most exceptional service to clientele enjoying the highest potential for revenue growth and profit health. As for the websites that ecommerce activity will be taking place through, the source argued that their design must maximize user-friendliness, otherwise bounce rates and other issues can become troublesome problems before long.

Additionally, a common theme that has been circulating in these types of discussions is that companies must focus on 360-degree coverage of customer interactions, ranging from marketing and lead generation to eventual loyalty programs and the like. Forbes affirmed that marketing departments should be working with ecommerce professionals and others throughout the industry to ensure that all efforts are coordinated and on point.

Maintain agility
Now, once the business has an optimal ecommerce strategy in place, it is important to note that it will not remain as such for long if nothing changes. Markets are evolving increasingly rapidly as the years go on, with consumer and corporate purchaser preferences remaining in a perpetual state of flux that makes it more difficult to stay relevant when the business is otherwise stagnant in its client-facing practices.

Have a plan in place to not only evaluate the performance of ecommerce strategies, but also to swiftly overhaul any or all of the various components as the demands of customers change and evolve over time. With an agile approach sitting on top of a solid foundation within the brand management arena of business, ecommerce can be a highly beneficial pursuit for any company.