Great Tips for Creating a Successful e-Commerce
10 de November de 2021
10 de November de 2021
Work, gym, supermarket, buying a winter coat, picking up the kids… The pace of modern society and big cities is very different to that of our grandparents. They would run errands; we order. e-Commerce solves the current consumers’ need to streamline their days and having a store that is as big as the whole world. It’s no surprise that, during this last decade, it has been growing non-stop.
According to a report by the CNMS (a Spanish independent competition regulator), e-commerce has grown 9.3% in 2020, with a turnover of 51.6 billion euros — 5.8% higher than the year before. Even those who were suspicious about online shopping have gotten on board after the lockdowns we experienced during the pandemic . Companies —especially SMEs— that didn’t have an online shop, started setting it up as they could and some have paid a high price for rushing and improvising. Because e-commerce is not a race, it’s a journey; not a final destination, but a process. And it takes as much or even more dedication than we would put into a physical store.
Before addressing the keys to setting up an electronic business, let’s start with its benefits. Immediacy and adaptation to consumption habits are some of the obvious advantages of this business digitalisation process. Here are some others:
Cheaper: Fixed costs are reduced in comparison to a traditional business.
International:It can be operated from anywhere in the world and reach every corner of the globe.
24/7: A virtual store never closes its doors. Unlike physical stores, it’s not restricted by time.
Automation: Processes that take hours in physical stores are done automatically.
Multi-channel:There are very diverse platforms and channels. All you need to do is to find what suits your clients best.
There’s one thing that doesn’t change in the virtual world and we must never forget this: Even though the transaction is being carried out through a screen, there’s always a person behind it. It’s crucial to keep them in mind. Their needs and habits are fundamental to gaining some perspective and to successfully launching and managing an e-commerce.
Likewise, the workforce you need is made up of people. It’s not like you’re going to implement a software and start working. It takes a dedicated team: a fraud specialist, customer service, marketing, finance, commercial, logistics… Technology covers the whole process and it provides that added value, but it’s people who make up the whole experience.
The human capital is the most important part of any business, but there are also other key points that will help us design a successful e-commerce:
Analysis You must identify the business proposal and the value model. Like in any other service company, you must differentiate yourself and make yourself unique.
Empathy: Think about the users and their needs. They are the priority. That’s why customer acquisition is among the most highly valued services in the global online market.
Support: Go for strategic alliances with suppliers, softwares, electronic platforms… Don’t walk alone. The journey is always easier if you have company.
Check-point: Set up an electronic business by stages. Think about the mistakes and growth opportunities. e-Commerce is not just setting up a website. Plan the different check-points you must reach.
Calmness: Don’t rush it. Go from small to big when it comes to implementing platforms of software as service.
Adaptability: Understand the business as an ecosystem with different external factors and channels on which you depend. The more you understand how they work, the more chances you will have to succeed.
Mobile: Apps and smartphones are where the majority of online shopping takes place. It’s key to adapt the way you provide your service to these.
The most basic but the most important. First and foremost, think like the consumer. You can hire the right people, set up the perfect platform, follow the trends that the great digital businesses follow and yet forget about the most basic element of all: culture, setting and the key elements of the users. You must think as the customer would think even if you own the company. The clarity of web site posts, the pictures of the products, etc. Things that we sometimes forget about. Things that are the key to success.
Among the many advantages of setting up an e-commerce store is the whole data behind it. In order to launch your business, you must understand the user and its customer journey. But in time, you can refine your client acquisition and satisfaction processes through the study of keywords, profiles, locations and user preferences.
The virtual store also allows you to have a continuous growth that, for logistical reasons, would be an inconvenience for any physical business. The amplitude and depth that an e-commerce can offer is a very important asset. Based on this idea of growth and diversification, companies like Amazon have become what they are, going from a bookstore to the biggest shop on earth.
Article written in collaboration with Jauma Llagostera, Álvaro Maña, Alejandra Garabito, Pedro Mon and Rodrigo Murata.