What does E-Commerce mean?
In a nutshell, and in general: e-commerce refers to the buying and selling of goods and/or service over and via the Internet.
Advantages of Ecommerce
- Direct Relationship Between Company and Customer
- Market Growth Potential
- Return on Investment
- Reaching Critical Mass
- Having a Strong Marketing Budget
- Correct Resource Forecasting
- Requirements Management
Analysis and Strategy
The first step is to carry out a correct budgeting – drafting a preliminary income statement and identifying the breakeven. This process needs to be able to take into account all necessary investments as well as possible returns.
How to sell online? Comprehensive knowledge about the scenario within which the e-commerce will operate, comprising the existing market and target audience, is the key to successful business planning.
How to Start an Ecommerce Business – Initial Steps
Competitor Analysis: competition represents an opportunity. Attentive research on what the others are doing is mandatory, that’s why our approach involves studying what the best practices out there are, and devising how to use and improve them. Next we run a technical analysis using dedicated leading-edge software, such as SEMrush.
Product: research continues closely, to ascertain whether other players are selling the same product/service. Next we accurately map direct competition, and quantify the potential market.
Sector: are there players in the market that sell a product/service that meets the same user need as yours? Understanding industry standards regarding UX, buying processes, communication, customer care and so on is crucial.
Choosing the Best Ecommerce Platform
One of the first questions a company asks when learning how to sell online is “What is the best ecommerce platform?”. Actually, the correct question should be “What is the best platform for my project?”. Thanks to long-standing expertise Gruppo CO.’s staff is able to conduct the thorough functional and technical analysis that your company needs to find its ideal ecommerce platform. Only then do we advise on the best choices to make as regards selecting the most effective and appropriate tech stacks.
Some of the most common requirements to start conceiving the technical infrastructure are:
- the need for software integration.
Then, we need to analyze:
- number and type of products
- variants (color, size, weight…)
- tree (categories and subcategories)
and the commercial offer
- price lists and discounts
- bundles and packages
After this evaluation we can estimate costs implied, identify necessary partners, assign the development of functional areas and identify the technological stack.
As regards development we usually provide a choice among three different methods allowing for varied levels of complexity. Those are chosen on the basis of the most suitable tools selected – such as WordPress + WooCommerce, Shopify or full custom development.
Configuring the data model for the products is a crucial step. Next, one needs to define the payment methods (stripe, paypal, payplug, bank transfer, cash on delivery) and shipments (rates, couriers, tracking) and integrations with external services.
What is Store Management
As counterintuitive as it may seem, thinking about store management in advance is vital. That’s why we start focusing on it in the initial setup phase, and keep it in mind throughout the development phase.
To be proficuous, each store management structure needs to be built based on the contours of the company’s specific collection.
Each ecommerce is a sales system facing daily complexities: the value proposition regarding commercial aspects (assortment, price policies…) and the executive management (order processing, logistics, customer care…).
To ensure best results and guarantee autonomy and self-sufficiency we generally prefer training our clients’ personnel. We teach them the required step-by-step procedures, assist where and when needed, and follow up.
Platform development is only the first step of a long journey to healthy and performing ecommerce. Once the platform is ready we need to generate qualified incoming by creating effective communication strategies. Otherwise our website is likely to turn into a white elephant.
Hence we ideate a strategy linked to a digital marketing plan. Relying on SEO, Advertising, Social Media Management, Email Marketing this aims to create a flow of in target users who will visit the ecommerce website.
Next we implement a web analytics setup, that allows you to constantly monitor the main KPIs, both on the sales and web marketing side. We usually use the Google Data Studio tool to collect raw data from the platforms involved (website, ERP, Search Console, Google Ads, Facebook, etc) thus making these available, easy to read, and clear-cut.
CRO (Conversion Rate Optimization): with the data acquired, we formulate a few thesis to improve the conversion rate. The thesis are validated through A/B tests. This approach allows a continuous conversion rate improvement.
On the average satisfied customers tell 4-6 people about their experience, while dissatisfied customers tell 9-15 people. 13% OF THEM TELL MORE THAN 20 PEOPLE!
It’s not hard to see how important it is to set up proper customer care management right from the start. More specifically, creating a set of tools and procedures that allow our customer service to solve problems or give answers quickly is essential. The customer service has to report any critical issue to the other departments, and be aware of the orders’ progress in real time. Operators must also be cognizant about recovery strategy policies applied, in case a dissatisfied customer shows up with a complaint.
Monitoring the channel selection is decisive as well. Every channel has to be monitored both asynchronous (email, social media, form…) and synchronous (phone, chat…), giving priority to those that report a high index of satisfaction (Ex.: chat 73%, Email 61%, Phone 44%).
Seamless operational logistics is a company’s first customer care operator. Flawlessly planned meticulously recorded logistics management, from order receipt to tracking to delivery allows the company to prevent critical issues and any possible disservices, ensuring all-round professionalism.
Find Out More About Gruppo CO. | Web Agency in Florence – Tuscany – Italy
Gruppo CO. has a precise goal, to show the importance of digital marketing in the development of every business. Our web agency works to improve and increase the digital presence of our clients by developing customized web marketing strategies.