The Major Role of Technology in eCommerce
Over the last two decades, the eCommerce industry has emerged as a disruptive technological innovation, accounting for more than 2 billion global digital buyers. This has been possible due to rapid improvements in information and technology, which has made it easier and convenient to shop online.
For eCommerce companies to grow their businesses and improve their overall functioning, they need to use the right tools and software to anticipate customer needs, fulfill demand gaps, and adapt their approaches to changing environments to stay ahead of the competition. In many cases, hiring a capable IT service, like Seattle IT company Executech, can help with growth and improvement without having to do all the heavy lifting. All this requires leveraging modern technology.
In this article, we take a look at how your eCommerce business can be transformed to generate more revenue and profit using the most cutting-edge technology.
Supply Chain Management
Every eCommerce business strives to build an integrated supply chain system. For this purpose, it is vital to use technology to digitize supply chain management and build capacity for real-time information. This can help improve efficiency and transparency in the production process, prevent delays, and avoid bottlenecks in the supply chain.
Some effective supply chain technologies include using autonomous robot technologies to improve inventory processes, Radio Frequency Identification or RFID to track items in storage, and warehouse management systems for optimizing order fulfillment processes.
In case you operate on an online eCommerce marketplace such as Amazon, you can take advantage of their Fulfillment by Amazon or FBA service. This allows Amazon to handle your supply chain management at their fulfillment centers and allows sellers a 30-50% increase in sales. Once you establish a successful FBA business, you can even search on how to sell Amazon business rights to generate a high ROI.
Mobile commerce, or m-commerce, refers to conducting eCommerce business using wireless handheld devices such as mobiles or tablets.
With 3.8 billion smartphone users in the world, a figure that is expected to increase as mobile penetration shoots up in the coming decade, all eCommerce business owners should focus on building a mobile-first customer experience.
By working on mobile optimization and making your eCommerce business more mobile-friendly, you can ensure that your customer has instant access to your product or service, maintain top of mind by using features such as push notifications and improve customer engagement.
Some efficient ways to increase mobile commerce is by having hassle-free login to your eCommerce mobile app by using social logins or fingerprint login, multiple features such as scanning barcodes and products, voice search and social sharing options, 360-degree view of products, personalized recommendations based on customer analytics, a mobile or digital wallet, multiple payment options such as Apple Pay or PayPal, and blockchain technology to improve security.
As an eCommerce business, you need to ensure that your customer service department is using the latest technology to maintain a good relationship with customers.
This involves making it easy for customers to seek assistance by providing multi-channel customer support through email, call, live chat, and social media. You should also make use of CRM for customer service to improve engagement with customers and enhance customer experience.
Moreover, for efficient and cost-effective customer service, focus on providing 24/7 customer support by automating the process through chatbots. You should also optimize for mobile to ensure that your customers can reach you using mobile apps.
Importantly, you should use technology to hyper-personalize customer support using Artificial Intelligence. This can improve customer service by analyzing customer behavior patterns, speeding up response time, using real-time analysis through natural language understanding or NLU, proactively suggesting actions for agents, and anticipating customer trends and sentiments.
By using technology, you can dramatically improve your marketing efforts to increase conversion rates and enhance customer retention.
Take advantage of customer data and analytics, AI, algorithms, and automation tools to streamline and improve your eCommerce marketing efforts. For example, you can automate cart abandonment emails and notifications or personalize customer experience on your website based on demography and user history.
Additionally, make use of social media marketing by utilizing platforms such as Instagram and Facebook. Consider using social media management software to schedule posts, analyze trends through social listening, and optimize efforts to better reach target audiences. You should also focus on search engine rankings for your eCommerce business and work to improve both on-page and off-page SEO.
The world of eCommerce is rapidly changing with emerging easy-to-use technology that helps to improve supply chain management, better understand and reach the target audience, personalize the customer experience, and enhance marketing efforts.
So if you want your eCommerce business to succeed, it is time you adopt these technologies to increase your sales.