So, you are thinking about starting an E commerce Business or wondering how to grow a technology-oriented business and are nervous for many different reasons. If you don’t know where to put effort and the tips and tricks for a successful business, you will fail, and things will not work your way.
Recent research shows “Around 90% of new startups fail. The same happens with e-commerce businesses. 80%- 90% of them fail only 20% of e-commerce businesses succeed “
If you are starting your e-commerce business or already have one running, this might scare you.
How To Grow Tech-Oriented E commerce Business And Dominate The Market
Problem with businessmen:
Most businessmen are not able to decide if there is a budget for the Tech & Marketing of their E commerce Business. To run your business in a smooth and profitable way you need a solid tech, marketing Plan and investment. Let’s Assume,
If there is a requirement for ten lakhs in tech building & Five lakh for marketing of a particular E commerce business the businessman is only willing to pay just 2 lakh on tech and just 1 lakh on marketing.
That is why they cannot use the full strength of their technology, and (they need to get there) also they don’t get to know the target audience they are looking for.
That’s why he will not be able to figure out what is the actual problem, why his business is not generating revenue.
Copy paste Business :
Let’s say you have a business that can be copied easily, then there will be two cases:
If you have low-quality products and less marketing budget, you will not be able to succeed in the e-commerce market, and you will not attract your potential customers
if you have great products with a decent marketing budget, you will be able to compete.
Now if you Succeed in saving your E commerce business from your competitors. You can follow these tips to take your business to the next level
Embrace Social Media and Expand Your Sales
Social networks such as Facebook, Instagram, Twitter, and WhatsApp are the prominent and most famous marketing vehicles nowadays. Marketing on these Channels helps you increase your brand awareness and lets people learn more about your E commerce business.
Adopting an effective social media strategy enhances a company’s branding and visibility, helping you interact with your audience and offer a direct message or offer and attract customers to your E commerce business.
The first step is to identify online platforms where your potential audiences spend most of their time. The next step is to create a strategy to engage with them according to their interests and offer them valuable and compelling content and interaction they can’t get anywhere else.
Adopt New Technologies to Streamline Your E commerce Business
Most private businesses have adopted technology, from creating a website or app to streamline their businesses to another level. It is seen that the world is going online, so to grab the attention of your audiences, you also need to use Technologies that are fast and efficient to use by the customers.
Take Your E commerce Business Into The Cloud
Delivering hardware and software via online networks represents private companies’ most significant paradigm shift. The cloud offers incredibly cheap storage and a range of shrink-wrapped solutions that can reduce small businesses’ capital investment in the technology.
Spend The Money To Create A Mobile App
When it comes to shopping and taking services, customers believe in apps because it gives them proof of your products and services. With the App, a customer can return or exchange products if they don’t like them or face any issues with your service.
Creating an efficient mobile application gives your potential customers easy access to your products and services. It also gives you your buyer’s information, with the help you get to know about their interests and shopping behaviours. By getting this information about your potential customers, you can offer them the products according to their interests.
Having a unique selling point makes your customers locate and shop with your store repeatedly. Online buyers will also find your E-commerce store quickly and have trust in your products and services.
The existence of USP in a company is a differentiator between this E commerce business and other E commerce businesses. USP of products develops faith in your potential customers and different audiences that your products are of excellent quality, making them engage and shop with you over other options.
Understanding Your Audiences Needs And Demands
UI / UX
UI AND UX of a website or an app play an essential part in customers deciding where they want to spend their time and money. Because having a bad UI/UX frustrate your customers, and they will choose other options instead of you, which will automatically decrease traffic and engagement from your website or app.
CRM For Customer Management
A CRM platform helps companies target different audiences, set scores and alerts based on an individual lead or customer’s activity, proactively work with contacts and maintain relationships. Best of all, a CRM system can be used across departments to ensure that all customer-facing teams are empowered with the correct data to create incredible customer experiences.
HRM For Internal Work
You keep your intellectual property and organization practices internal when you have an internal HR department. This can help you secure confidential information, monitor employees’ productivity, control your organization, and reduce unethical practices. Additionally, an internal team can help you to understand the reasons behind attrition and retain your best talent.
ERP System Process Management
ERP systems integrate all business management functions, including planning, inventory/materials management, engineering, order processing, manufacturing, accounting and finance, human resources, etc. The most significant advantage of an ERP system based on its real-time capabilities and the ability to see what is going on with the organization as it happens.
When the pandemic hit, everyone was forced to scramble, doing their best with whatever technology they already had or could swiftly implement which caused a fundamental shift in how we work, and companies have had to take a hard look at their business strategies.
Business and technology are now inextricably linked, so it only makes sense to implement technology as a core part of a successful business strategy.
If you are thinking about starting a tech business you can consider these points will save you a lot of time, while learning these points on your personal losses & lastly,
Best of Luck for your Business.
If you are not able to decide what technology you need to develop for your business to grow Contact Us, to get as we are the best software development company in Lucknow to provide the best custom solution for your business.
How to do e commerce business?
You just need a great product and a good technology solution to do e commerce Business.
Can e commerce make you rich?
Yes, If you have a great product and technology to deliver to it.
What is business to consumer e commerce?
Business to consumer e commerce are those which deliver products directly to their consumer, not to some middleman.
What is the biggest e-commerce company in the world
In today’s time, Amazon is the biggest e commerce company in the world but it can be your company with a great product and technology to handle it.