Website Design & Ecommerce – Maximize Studio shares 4 Keys to Success in Ecommerce Business

1. Offer functionality to meet distinct customer needs in dynamic market conditions. Retailers Store use digital to provide inventory visibility online and in-store to ensure that an out-of-stock item doesn’t mean a lost sale. Amazon has continually extended its reach (and monetization) through programs like Fulfillment by Amazon (FBA), which assimilates any willing seller. The Grommet curates new product merchandising ideas, validating the concept through online testing. Retailers and consumers have accepted new models of selling online, such as marketplaces and aggregators, as well as new methods of delivery, such as “buy online, pick up in-store” (BOPIS), digital lockers, and drop-shipped items. Determining which models to use and how to implement them is critical to your overall retail strategy.
2. Have a plan to stand out from the crowd. Consumer electronics retailer Crutchfield has thrived by offering superior customer service that lets shoppers ask for specific sales associates and allows shoppers and customer service reps (CSRs) to co-browse. Online Cutlery and Cookware retailers have developed video demonstrations, customizable and personalization, and even subscription programs to drive market share. Most digital business pros are well aware of their traditional offline competition but also have to battle a broader set of aggressive and successful players like Amazon, where standing out becomes more challenging but is absolutely essential.
3. Thirty-six percent of purchase influencers at North American retail or wholesale firms tell us that increasing innovation is a high priority for the next 12 months. Technology partnerships are an essential practice for acquiring new capabilities, and they involve a combination of technology execution teams, toolkits, and support/service partners to deliver on budget and on time. However, keep in mind the cost differences of working with third parties — as well as the fact that once they exit, they’ll take your digital differentiation with them. Review platforms, suites, tools, and service providers to determine how to fill your gaps and improve delivery capabilities, and study Forrester Wave™ evaluations to help you select the best options. The goal of this action: To clarify the partner teams, technologies, and strategic focus points to extend your eCommerce capabilities. Also, to understand your corporate support structure and business technology resources as part of your strategic thinking.
4. Build strong C-level support. “We’re going to grow eCommerce faster. This company, over time, is going to look like more of an eCommerce company,” declared Walmart President and CEO Doug McMillon to investors in 2016 — and then proceeded to buy Bonobos, Jet.com, Moosejaw, ModCloth, and Shoes.com. Organizations that have committed to eCommerce quality also commit commensurate dollars, resources, and, most critically, corporate influence. You must build the case for, solicit, and capture full support from your CEO with a C-level sponsor to guarantee any measure of success across your digital initiatives. As eCommerce affects a significant part of retail revenue streams, leaders in this space will need to deliver on promised growth — and set expectations appropriately.

Design Your eCommerce Strategic Plan To Complement Capabilities

Creating a successful retail eCommerce business is neither easy nor cheap, and not all companies have the change management abilities or the resources to execute at a superior level. Adapt goal planning to your digital maturity level and capabilities — and, depending on the size of your business, across multiple capability levels in different parts of the company. To best enable their strategic plan, digital business executives must:

Develop an iterative planning cycle to build an ongoing business road map. Evaluate organizational readiness to grow the eCommerce business. Measure what makes sense and cultivate digital analytics, and metrics the mechanism to identify how well you’re doing and whether you’ve reached your goals.

About MaxiMize Studio

Maximize is a results-driven agency that custom tailors the best strategies to help you achieve your goals. We combine creativity and technology to build websites and marketing strategies to make your business thrive in today’s competitive Internet marketplace. While Maximize Studio is a Digital Media Agency with a full suite of services, we offer in-house services, such as Custom Responsive Website Design & Development, Mobile E-commerce, Design & Print, Web Portal & Directories, Mobile Development, Mobile App Development and Online Marketing & Advertising.