With businesses too, the gap between relevance and obsolescence grows every day, and must be heeded proactively.
Today, the average S&P 500 company lasts only for about 15 years, and 75% of today’s S&P firms will be gone or going by 2027
When it comes to eCommerce businesses, the sheer competition makes it an even greater challenge to keep up with the times!
Survival Of The Fittest — Be Proactive!
The primary reason for large scale and small and medium-sized enterprises not faring too well is largely their inability to be flexible and proactive to the changing trends in the marketplace.
As consumers increasingly opt for online shopping over in-store walk-ins, you just cannot ignore having a lackluster eCommerce presence or worse, none at all. Building a resilient eCommerce presence is a key to survive in today’s digital world.
It is clear that businesses today need to be flexible, and not just aim at longevity. As, once a company is built to adapt to change, it would automatically succeed and survive in the long run.
Why Modern Companies Should Be Built To Change?
Digital disruptions are coming to the forefront. As a result, modern technology and software are at the heart of driving business and delivering value. With a digital transformation, your business can be built to change and survive in a highly competitive market.
Companies that are built to change are fearless. They can get up and running quickly given any circumstances. Their prime focus is on delivering what the customer really wants.To add value and deliver an excellent customer experience, it’s essential to continually renew yourself by following the current trends and avoid monotony. A built to change company puts the customer at the crux of everything it does, continuously improving themselves with a motive of adding value.
You can achieve this by building a strong eCommerce presence that is dynamic and versatile. Reach out to your customers in the best possible way and change your strategy according to their needs.Built to Last Vs. Built to Change!
Here’s a quick comparison of the characteristics of eCommerce companies that are built to last, and those that are built to change!
Built To Last
Built To Change
Let’s take a look at how you can build a business that’s not rigid to constant change!
How to Build an eCommerce Company That’s Proactive and Can Adapt!
1. Dynamic Software is Essential for Developing Agility
Regardless of your industry sector, your brand is perceived through technology. Whether be it an end consumer who are experiencing your company through apps or industrial customers, digital engagement and interaction have become a basic expectation.
Technology serves as the primary interface between you and your customer. Leverage on the right technology to offer a unique customer experience and stand out from the crowd.
For example, employ paradigm-shifting technologies to build your online presence. OpenStack software, Magento, Prestashop and other change-enabling technologies will help you gain an upper hand.
2. Keep Your Customers Close
Don’t focus too much on your competitors and overlook your customers. After all, they are the ones who can provide you with relevant, constructive and purposeful feedback or advice.
Listen carefully to your customer needs and let their behavior dictate your business strategy. By keeping your customers happy, you are more likely to grow your audience and business.
Deliver a sensational eCommerce customer service by offering live chat, setting up knowledge bases, providing social customer service, video ads and more.
3. Effective Use Of Data To Generate Insight and Leads
It is vital to leverage the extensive amount of data to generate actionable insights which impact business. All the data coming in from several sources need to be assimilated, assessed and analyzed as a medium for predictive modeling and real-time remediation for any business issues.
Today’s modern consumer value a content that is unique and personal to them. With the use of data, you can facilitate a personalized shopping experience for each of your customers.
Develop personalized content in your site with the help of product recommendations and add-ons based on customer preferences, geographic location, market trends, demographics, past purchases, and brand interactions.
You can also use data to accurately predict your customer’s next purchase based on their purchasing habits and leverage your position.
4. Think Mobile First
Visits to retail websites via mobile devices have overtaken desktop traffic. Furthermore, Google has optimized its search engine with a mobile-first web index. Rather than just designing your website to be responsive and optimized for mobile, it’s time to think mobile-first.
Stop thinking of mobile users and desktop users as separate entities. Research clearly indicates that consumers use their mobile to search and make key decisions about product purchases, only then to purchase it on the desktop later.
5. Prioritize Positive Customer Experience
The buying decisions of consumers are largely influenced by social media platforms, word of the mouth and content platforms. Your eCommerce presence should deliver the right experience to your customers so that they act as your brand ambassadors.
70% of consumers value product and brand recommendations from their social circles trustworthy.
With a positive experience, word of mouth increases its reach. As a result, there are huge chances of your products generating interest and even going viral.
We are in the age where we should go beyond successful execution in search for consistent excellence. Having a fruitful online presence is one of the ways to be in tune with the changes technology has brought about.
At Virtina, we use our experience and expertise with eCommerce to help companies adapt to the changing landscapes of business, using unique methodologies and frameworks.
Are you looking to build a successful online store, or optimize and grow your online business
