How to Evolve Your E-commerce Technology at Every Stage of Your Business Journey
5 STEPS TO STAY AHEAD OF THE DIGITAL COMMERCE CURVE
Successful brands continuously refine, mature, and transform their e-commerce strategy over the lifetime of the business. At some point, your brand will seek to take its e-commerce strategy to the next phase of its lifecycle.
To help your brand take that next crucial step, you’ll need an experienced and strategic e-commerce partner that can guide your brand on the path of e-commerce evolution and implement solutions to real-world challenges. A great e-commerce partner should be skilled at deploying e-commerce platforms, at the forefront of industry trends, and invested in your long-term success.
We wrote this guide to help brands that want to evolve their e-commerce strategy, and that are searching for a strategic partner to guide them on this journey.
Chapter 1:
Assessing Your Current E-commerce Stage
Identifying your current stage of e-commerce evolution
Evenica's research has shown that there are four e-commerce stages in a business' lifecycle, which have specific Information Technology (IT) investment requirements. These four stages are as follows:
- Startup: The company has a basic IT infrastructure. Ownership is conservative with its IT spending due to its limited budget and will avoid making unnecessary technology purchases that could disrupt the business. It also prefers technology that is easy to install, implement, and use.
- Expansion: The company is looking to sell the business, which involves investing in its e-commerce architecture (i.e., the software involved in business operations). It will look for proven technology that provides value for money spent. There is a willingness to evaluate and pilot new technology with promising upside.
- Establish: The company is intent on enhancing its existing IT systems and technology, through investments in efficiency and automation, looking for ways to optimize operations, reduce costs, and improve the customer experience. When evaluating its technology options, there's a greater focus on quality over price. This is the stage to spend more time evaluating vendors to identify an ideal e-commerce partner.
- Maturity: Operational efficiency and cost optimization continue to be key, although the focus is on upgrading versus replacing its current technology. There is a search for balance between the conservative approach of keeping the company's current operations and actively staying abreast of new technologies. Innovation is vital for maintaining a leadership position in the market.
Knowing your current stage of e-commerce will help with making the right technology choices that will grow your business. You can take smaller steps within these stages of e-commerce to progress and evolve at a pace that works for your organization.
Take Action
Answer the following questions to assess your e-commerce strategy, and continue having these conversations as you go through your business journey:
What stage of e-commerce development are we currently in?
What do we need to become a better retailer?
How do we determine the next e-commerce stage of our business?
What integrated systems and support do we have currently (e.g., e-commerce platform, POS, ERP, CRM, marketing tools?)
Where do we need to expand and what models do we need to expand?
Chapter 2:
Becoming an Evolved E-commerce Business
Describing how to establish a foundational e-commerce platform from which you can grow
At this point, you’re an inspired practitioner of e-commerce. Your brand possesses an established e-commerce platform, but you have an ambitious goal of evolving your online brand presence.
You’re already selling online. However, you’ve come to realize there’s room for improvement. You might need to upgrade your systems or software. You might also want to move to a new platform that will help you to grow your business.
What you need is a scalable foundation. Your goal is to expand beyond your current e-commerce setup and offerings. Your vision requires the upgrade or replacement of your infrastructure. That means implementing an enterprise-grade e-commerce platform that’s reliable, scalable, and easy to connect with your ERP.
E-commerce touches every part of your ERP. That’s why your e-commerce platform must connect to all these systems. To do so, you must evolve beyond e-commerce. But how do you do that?
This evolution requires development and implementation of an adaptable business strategy, as well as an enterprise-grade e-commerce solution that can grow as your needs evolve. Scalability is essential, and a foundational step in your evolution. This requires a robust and reliable platform upon which you can build your e-commerce solution.
Take Action
How can Evenica help you to become an evolved e-commerce business?
We bring decades of experience in e-commerce implementation
We provide a complement of e-commerce implementation services, including discovery, solution roadmap, deployment, and training
We’re experts at Microsoft D365 Commerce
We also have our own e-commerce platform, e4Commerce, which integrates seamlessly with the Microsoft technology stack
Chapter 3:
Automating Your E-commerce Platform
Connect your e-commerce platform to your ERP and other software to have automated data flow
As a premium seller, your brand has a reliable, scalable e-commerce platform. You’re ready to connect that platform to other parts of your business for seamless selling.
What you need is intelligent automation. You require an integrated solution that will make the buying experience frictionless for consumers and that is unified across all customer touchpoints.
For example, one multinational retailer of personal care and beauty products uses intelligent automation to sync its customers’ in-person and online shopping histories. They track e-commerce data and maintain stock in relevant locations to ensure faster shipping. This level of connected data and integration creates a better shopping experience, improves customer loyalty, and increases long-term sales.
How can you create this type of seamless selling experience? The key is to automate all business processes and connect your technology solutions. Make each step of the buying process easy and enjoyable for your customers. This requires doing work on the back end to seamlessly connect your software and systems.
Take Action
How can Evenica help you to become an evolved e-commerce business?
We support automation through e4Integrate, our proprietary integration platform
It enables you to move all aspects of your e-commerce touchpoints between ERP and CRM solutions
It provides a central location for connectivity, visibility, and accessibility to all information assets
It supports interactions between systems and delivers a higher level of data management
Chapter 4:
Creating a Superior Personalized Digital Experience
Examine the process of introducing a personalized digital experience to your customers
As a brand builder, you already possess a seamless digital e-commerce platform. Your goal is to increase customer loyalty. This requires elevating the e-commerce experience beyond the standard checkout transaction.
What you need is the ability to personalize the customer experience. The key is to leverage e-commerce as a springboard for advertising, marketing campaigns, promotions and events, articles and blog posts, reviews, and reputation management.
For example, the aforementioned personal care and beauty products brand provides a superior personalized digital experience. They use individual customers’ e-commerce data (such as purchasing history) to personalize email marketing campaigns that target specific segments of their database (e.g., by sending relevant email content to different customers).
How can you personalize the selling experience? Leverage customer insights to provide contextualized content and personalize your customers’ e-commerce experience, before and after the sale.
Take Action
How can Evenica help you to become an evolved e-commerce business?
We design a targeted customer experience through e4Engage, based on visitor insights, real-time behavior, and contextualized content
This approach allows your marketing team to design, target, and deploy personalized and compelling marketing campaigns through multiple channels
It enables you to create a customer experience that differentiates your brand
Chapter 5:
Providing the Total Experience of Innovation
Use thought leadership to evolve your digital experience into a total experience
As a brand builder, you already possess a seamless digital e-commerce platform. Your goal is to increase customer loyalty. This requires elevating the e-commerce experience beyond the standard checkout transaction.
What's the difference between digital experience and total experience?
- A digital experience refers to the customer’s experience when they are shopping online, including detailed product pages, a great checkout process, and frequent shipping updates.
- A total experience involves connecting the digital experience to all other aspects of the business, such as the in-store experience, and providing a memorable and unique experience.
Retail brands can create a total experience by combining the customer experience, employee experience, and user experience to transform its business outcomes. When these experiences intersect, they provide the opportunity to improve the overall experience. This total experience arises when brands dissolve the siloes and integrate technology into the customer, employee, and user experience.
The total experience requires a high level of innovation. This involves applying a combination of business acumen and data to create a unique digital experience that will make your brand more memorable in the marketplace.
True evolution requires your brand to become a market leader. You must push the boundaries of the e-commerce experience to differentiate your brand, ensuring that you do so in an authentic and compelling way.
Take Action
How can Evenica help you to become an evolved e-commerce business?
We bring decades of experience and a reputation for innovation to the partnership, ensuring that your brand executes ideas that differentiate you from the competition
Our thought leadership will help to establish your brand as experts within your industry
Our seasoned coders will ensure that you provide a one-of-a-kind e-commerce experience at every stage of customer interaction