Composable Commerce could be just thing you were searching for to elevate your eCommerce strategy. Find out if it’s ideal for you. Here are the top five factors for determining if Composable Commerce is going to be ideal for your […]
Composable Commerce could be just thing you were searching for to elevate your eCommerce strategy. Find out if it’s ideal for you.
Here are the top five factors for determining if Composable Commerce is going to be ideal for your company.
The commitment to electronic differentiation. You think digital is an intrinsic part of your trade strategy which lets you outpace competitors. So site experiences are only 1 part of the mystery, and you wish to be able to innovate and optimize with genuinely differentiated trade experiences to keep and attract new clients.
Flexible architecture is vital. You would like to design your distinctive vision and iterate with no interdependencies. By leveraging the trunk and liberty of MACH and front and flexibility of JAMstack, you need to set up your team to deliver your distinctive vision with small technical debt.
Out-of-the-box is not enough. You are unsatisfied with these out of the box features and realize the advantages of a designing and building your custom fit solution for your exact needs. By building with Composable services, you need to remove that bloating in the backend that normally causes your slight to be slow which are associated with these unwanted attributes from out-of-the-box platforms.
Quick adaptability. You understand the need for an agile solution to support your company centric functions. Whether it be an unprecedented pandemic or just another altered customer addiction, you need to have the ability to use quick-starts in addition to business analytics and business tooling, to have the ability to respond quickly and outperform competitors.
And, lastly, cost decrease. That you need to drive revenue through invention without hurting your pocket. Because of the rigidity of traditional legacy platforms, customization and other changes affect both time to market and your budget. You need a solution to supply the very best for your business whilst at the same time staying on your CFO’s good graces.
If these concerns resonate with you, then it could be time to upgrade to a Composable Commerce solution. If you want to find out more about the Composable Commerce solution and how Elastic Path may help, don’t hesitate to reach us out, we would be happy to assist you.
The Top 3 Mistakes Companies Make in Implementing B2B Ecommerce
Recognizing this volume, a growing number of producers and distributors in traditional businesses are starting B2B ecommerce efforts. Unfortunately, many businesses don’t do their due diligence before starting an ecommerce initiative. This leads to less than optimal ecommerce platform deployments, ineffectively structured associations, and missed chances – that create inefficiencies and stifle growth. This typically results in the requirement to replatform that could be an extensive endeavor.
By understanding these common mistakes, you can avoid the common pitfalls associated with implementing B2B ecommerce. Bearing this in mind, let us look at three of the most frequent mistakes companies make when implementing B2B ecommerce–and what you can do to prevent them.
Mistake #1: Struggling to Define Your Requirements in Detail
Frequently, I see companies don’t put in the time necessary to create a comprehensive set of requirements for their ecommerce system, grounded in a good understanding of business objectives. In doing this, these companies drastically increase the likelihood they’ll decide on the wrong platform –that prevents them from having the ability to take complete advantage of the ecommerce opportunity.
Taking the plunge into ecommerce for the first time is a very time-consuming procedure. The last thing you need to do would be to replatform soon after launching since you made the wrong decision to start with.
Because so much is at stake, it’s very important that you select the ideal platform the first time–one you can live with for five to ten decades, or more. The only way you can ensure that this is done properly is by extensively documenting your needs up front. Make certain to include information regarding attributes, workflows, pricing, contract service, flexibility, integrations, and much more.
Your company isn’t probably an expert in ecommerce, so deciding on the best platform from the start may be tricky and taxing procedure. Due to that, many companies outsource these duties to firms that are specialists in the area. Yes, this requires extra upfront investment and time, but the ROI and risk reduction make it worthwhile.
Mistake #2: Underestimating the Significance of the User Experience
I’ve observed that B2B businesses generally have a nasty habit of setting up ecommerce storefronts that are difficult-to-use, bolt-ons for their current ERP (Enteprise Resource Planning) systems, and just expecting orders to come flowing in. When they do not, they blame their clients or figure that ecommerce won’t work for them.
They are wrong on both counts.
When implementing an ecommerce system, it is vital to focus on the user experience (UX). Today’s B2B buyer anticipates the digital user experience to make their tasks’ simpler, and reflect consumer-like online shopping experiences. If the UX is badly implemented and the resulting web site is tough to use, how do you expect customers to really use it?
Bear in mind that business buyers‘ expectations are set by their own personal experiences in buying from the most advanced ecommerce websites on the planet. Advertisers such as Amazon continue to set the bar extremely high for internet retailers–that includes your company, whether you like it or not. While B2B web sites must adapt B2B purchasing workflows and nuances like customer-specific pricing, custom catalogs, and payment on credit conditions, the foundational elements of a B2C website are also essential to incorporate. If your website search, navigation, product information, list pages, shopping cart, and checkout are not optimized to meet the criteria of contemporary online buyers, your ecommerce website won’t be effective.
Invest heavily in building a desired UX, and clients will keep coming back.
Your sales team is anxious. They hear the term”ecommerce” and they think competition and lost commissions.
Fear isn’t justified in the huge majority of cases. However, several B2B ecommerce replatforming efforts are launched without input from the sales staff –at least in regards to planning and execution. Because of this, a large quantity of value is left on the table, and sales teams will struggle against adoption of ecommerce one of your customer base when you’ve launched your website.
In fact, ecommerce is a force multiplier for the sales staff by enabling partners to spend more time on strategic issues with key accounts. An effective ecommerce website eliminates time spent on low value, routine tasks like entering orders or answering order status queries. And, if sales staff members are commissioned for sales made to their accounts through ecommerce, economic incentives are aligned also.
Do not keep your ecommerce replatforming initiative isolated to a few top executives or driven solely by the marketing group. Rather, use your sales staff . Actual value unlocks are accessible when selling stations are in sync, and getting the sales staff involved early in defining your needs and establishing goals will improve your return when you start.
Benefits of Successful Replatforming
The B2B ecommerce marketplace is growing larger every day. Frost and Sullivan projects that 27 percent of all B2B transactions will be conducted online by 2020. Think about what this sort of revenue penetration could mean to your organization. Not only are sales transacted via ecommerce more efficient to process, but they frequently occur at higher gross margins. Online sales also often represent incremental revenue — via increased share of wallet from the present customers or from new clients.
Capturing these outcomes for your organization requires substantial investment of external and internal resources. However, real return on investment exists for businesses that diligently plan for and execute on this opportunity. Do it right, and you will be eating your piece of this pie in the not too distant future.
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