How to make your e-commerce platform a competitive advantage

To meet the expectations of its customers, an e-commerce platform must, first of all, meet the needs of the company. Breaking it down into five key factors.

Does your organization view its technology stack as a competitive advantage? It should – and this is even more true for e-commerce. According to a recent study by Harris Interactive, “89% of consumers have turned to a competitor because of a poor customer experience.” In short, if your customers find friction on your site, they’ll look elsewhere.

According to a Salesforce report, “Online personalization drives 24% more orders and generates 26% of eCommerce revenue.” Investing in technology to better reach your consumers can therefore lead to additional sales and potentially have a significant impact on your bottom line.

Here are five ways your eCommerce technology can become a real competitive advantage:

1) Scale

First of all, ask yourself if the platform you are investing in will be able to adapt to the growth of your business. It is a question of taking into account the number of transactions or references in the product catalogue, but also security and reliability, including logistics, products and the complexity of orders.

On the other hand, platforms locked into fixed-cost data centers tend to be inefficient, quietly eroding the margins of their businesses. As the HUB Institute points out, cloud-based e-commerce platforms with a MACH-like architecture (microservices, API first, cloud, and headless) scale easily to meet the needs of demanding customers, while competing aggressively to lower prices and deliver greater value. .

2) Optimize the search

Without a platform that can provide real-time insights into customer behavior, your eCommerce business operates in the dark. Instead of guessing, leverage the data your customers provide you, primarily through the queries they make in your search bar.

Often this data is stored and ignored. In France, only 23% of companies use data to better understand their consumers and improve the customer experience and 20% to better understand consumer habits. For your business to grow, you need real-time dashboards that make customer information readable and actionable.

3) Customize the search

Studies show that conversion rates for customers who use the search box through their website are almost twice as high as those who don’t, and 30% of customers use a search box when it’s available. So it makes sense to consider whether you can refine search relevance using machine learning (ML) and artificial intelligence (AI) or through your backend.

Optimization can be summarized as: “If a customer is looking for product x, also show product y.” Based on research, this is one of the ways businesses increase the value of shopping carts and maximize the value of each customer. Furthermore, it is a way of showing clients that there is logic behind the results.

4) Thinking about the relationship with the customer

It’s about convincing customers that your company knows their needs and can meet them. Customer relationship personalization is an incredibly effective way to get your customers to notice your business and influence them when shopping online – 48% of consumers spend more when they receive a personalized experience, generating up to 40% of additional revenue.

As a store manager, a good personalization strategy requires your staff to recognize repeat customers, learn about their tastes and preferences, and make them feel welcome and appreciated. After purchase, the customer should be invited to stay if they so wish, as a customer is not kicked out of the store after completing their transaction. On-platform customization is identical, but on a larger scale.

5) Cart conversion rate

It’s time to close the sale. An e-commerce platform must offer fluid and transparent transactions, allowing its customers to have peace of mind and carry out an online transaction with total security. In fact, 74% of consumers are concerned about the security of their information when paying online, and half expect more fluidity in this area.

With the proliferation of digital wallets, storage of billing and shipping information, split payments, and efforts to make the internet a conducive environment for commerce and transactions, you need to avoid cart abandonment before the end of the transaction.

In conclusion, a good online shopping experience turns visitors into returning customers, increasing your value and the impact of your marketing spend. Regular customers become loyal customers and loyal customers become allies. It all starts with your technology stack’s ability to support and deliver these five key factors in order to properly treat your customers – your company’s most valuable asset.

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