Benefits of digital commerce solutions
According to Forbes, e-commerce sales are expected to grow 10.4% in 2023 and the global e-commerce market is expected to total $6.3 trillion in 2023. Digital commerce solutions offer many advantages for businesses that want to sell online. Here are some of the main benefits:
Lower operational costs
Digital commerce solutions can reduce the expenses of running a physical store, such as rent, utilities, staff, inventory, and maintenance. They can also automate many tasks, such as order processing, invoicing, shipping, and customer service, saving time and money.
Wider market reach
Wider market reach digital commerce solutions can help businesses expand their customer base beyond their local area. They can sell to anyone with an internet connection, anywhere in the world. According to Statista, e-commerce accounted for nearly 19% of retail sales worldwide in 2022, and is expected to reach almost 25% by 2027. They can also leverage digital marketing channels, such as social media, email, and search engines, to attract and retain customers.
Better customer experience
Digital commerce solutions can improve the customer experience by providing convenience, speed, and personalization. Customers can shop anytime, anywhere, from any device.
They can browse through a variety of products, compare prices and features, read reviews and ratings, and get recommendations based on their preferences and behavior. They can also enjoy fast and secure checkout, flexible payment and shipping options, and easy returns and refunds.
Higher conversion rates
Digital commerce solutions can boost the conversion rates of online shoppers by reducing friction and increasing trust. They can use responsive web design to optimize the website for different screen sizes and devices. They can use high-quality product images and descriptions to showcase the products in detail.
They can use trust signals, such as testimonials, reviews, ratings, badges, and guarantees, to build credibility and confidence. They can also use urgency and scarcity tactics, such as limited-time offers, countdown timers, stock indicators, and social proof, to encourage customers to take action.
Digital commerce solutions can help businesses grow and scale without much hassle. They can handle high volumes of traffic and orders without compromising the website performance or security.
They can also add new features and functionalities, such as loyalty programs, subscriptions, memberships, gift cards, coupons, and more. They can also integrate with other platforms and tools, such as analytics, CRM, ERP, accounting software etc., to streamline their operations.
Types of digital commerce solutions
There are different types of digital commerce solutions available in the market. Some of the common types are:
Hosted vs self-hosted solutions
- Hosted solutions are provided by a third-party provider that hosts and manages the ecommerce platform for the business. The business pays a monthly or annual fee to use the platform and its features. The provider takes care of the website maintenance, security updates, backups etc.
- Self-hosted solutions are installed on the business’s own server or a rented server from a hosting provider. The business has full control over the ecommerce platform and its features. The business is responsible for the website maintenance, security updates, backups etc.
Open source vs proprietary solutions
- Open source solutions are software that have their source code available for anyone to use modify or distribute. They are usually free or low-cost but may require technical skills or external support to set up customize or maintain them.
- Proprietary solutions are software that have their source code protected by the software owner or developer. They are usually paid but may offer more features security or support than open source solutions.
SaaS vs PaaS solutions
- SaaS stands for Software as a Service which is a type of hosted solution that offers a ready-to-use ecommerce platform with predefined features and functionalities. The business pays a subscription fee to access the platform via the internet without having to install or manage anything on their own server.
- PaaS stands for Platform as a Service which is a type of hosted solution that offers a customizable ecommerce platform with basic features and functionalities. The business pays a subscription fee to access the platform via the internet but has more flexibility to add modify or remove features according to their needs.
B2B vs B2C vs C2C solutions
- B2B stands for Business to Business which is a type of ecommerce solution that caters to businesses that sell products or services to other businesses. B2B solutions may have features such as bulk pricing quotes invoices contracts etc.
- B2C stands for Business to Consumer which is a type of ecommerce solution that caters to businesses that sell products or services to individual consumers. B2C solutions may have features such as product reviews ratings recommendations etc.
- C2C stands for Consumer to Consumer which is a type of ecommerce solution that caters to individuals who sell products or services to other individuals. C2C solutions may have features such as auctions ratings feedback etc.
Best practices for digital commerce solutions
To get the most out of your ecommerce solution, you should follow some best practices, such as:
Choose a reliable and secure hosting provider
Your hosting provider is the backbone of your ecommerce website development agency. You should choose a provider that offers fast loading speed, high uptime, adequate storage and bandwidth, SSL certificates, backup and recovery options, and 24/7 support.
Optimize your website speed and performance
Your website speed and performance affect your customer experience and conversion rates. You should optimize your website speed and performance by using a responsive web design, compressing images and files, caching content, minimizing HTTP requests, enabling lazy loading, etc.
Design a user-friendly and responsive website
Your website design should be easy to navigate, attractive, and consistent. You should use clear and concise language, intuitive menus and buttons, simple and secure checkout process, and visible call to action.
You should also make sure your website is responsive, meaning it adapts to different screen sizes and devices.
Use high-quality product images and descriptions
Your product images and descriptions are the main sources of information for your online customers. You should use high-quality product images that show the product from different angles, zoom in on details, and reflect the actual colors and sizes.
You should also use descriptive and persuasive product descriptions that highlight the features, benefits, and value proposition of the product.
Offer multiple payment and shipping options
Your payment and shipping options should be convenient, flexible, and secure for your customers. You should offer multiple payment options, such as credit cards, PayPal, Apple Pay, Google Pay, Amazon Pay etc., that are popular and trusted by your target market.
You should also offer multiple shipping options, such as free shipping, flat rate shipping, express shipping etc., that are affordable and fast for your customers.
Provide excellent customer service and support
Your customer service and support are essential for building customer loyalty and retention. You should provide excellent customer service and support by offering multiple channels of communication, such as phone, email, live chat etc., that are available 24/7.
You should also provide helpful resources, such as FAQs, help center, return policy etc., that answer common customer queries. You should also handle customer complaints, feedback, and reviews promptly and professionally.
How to choose the right ecommerce solution for your business
Choosing the right ecommerce solution for your business depends on various factors, such as:
Your business goals and needs
You should have a clear idea of what you want to achieve with your ecommerce solution, such as increasing sales, expanding market reach, improving customer experience etc. You should also have a clear idea of what you need from your ecommerce solution, such as features, functions, integrations etc.
The features and costs of different ecommerce platforms
You should compare the features and costs of different ecommerce platforms that suit your business goals and needs. You should look for features such as website design and development services, product catalog, shopping cart, payment processing, order management, customer service etc. You should also look for costs such as setup fees, monthly fees, transaction fees, hosting fees etc.
The reviews and ratings of ecommerce providers
You should check the reviews and ratings of ecommerce providers that offer the platforms you are interested in. You should look for reviews and ratings from credible sources such as industry experts, customers, and peers. You should look for feedback on aspects such as ease of use, reliability, security, support etc.
The reputation and experience of ecommerce agencies
If you need help with setting up customizing or maintaining your ecommerce solution you may want to hire an ecommerce agency that can provide end-to-end digital commerce solutions for your business. You should look for an ecommerce agency that has a good reputation and experience in the industry. You should look for testimonials case studies and portfolios that showcase their work quality and results.
One of the leading ecommerce agencies that can provide end-to-end digital commerce solutions for businesses of all sizes and industries is SmartOSC. SmartOSC is a global digital commerce agency that specializes in delivering scalable innovative and omnichannel solutions for online retailers.
SmartOSC has over 17 years of experience in the ecommerce industry and has worked with over 500 clients across 20 countries including leading brands such as PayPal eWAY Lotte Priceline etc. SmartOSC offers a range of services such as strategy technology optimization and support for various ecommerce platforms such as Magento Shopify Plus Adobe Commerce BigCommerce etc.
=> Watch more: 5 Best digital commerce agencies of 2023
Digital commerce solutions are essential for any business that wants to succeed in the digital marketplace. They can help you create and manage your online store, attract and retain customers, process and fulfill orders, and measure and optimize your performance.
However, choosing the right digital commerce solutions for your business can be challenging, considering the many options and factors involved. That’s why you should follow the steps and tips we have shared in this article, and look for a reputable and experienced ecommerce agency like SmartOSC to help you with your ecommerce solution. Contact us today to get the best suitable digital commerce service.