The global e-commerce market did more than three trillion dollars in sales last year, so it’s no surprise that businesses are clamouring to get their cut. The opportunities in this space are alluring, but the challenges amid all this competition are considerable.
Plus, so much profit also attracts fraudsters, another major problem e-commerce retailers need to address. Thankfully, there are modern tools for today’s leading online retailers, such as all-in-one enterprise-level e-commerce platforms.
Keep reading to learn more about how they work.
In an information age, it’s essential to have data working for you. There are e-commerce personalization services like sticky.io that gather and use thousands of data points for each consumer to improve their browsing experience by, for example, prompting them to see products they are genuinely interested in buying.
It’s essential that online stores understand each website visitor, and that the data helps to cross-sell and upsell products in lieu of a sales specialist physically there to attend to customers. The online world relies on data the way brick-and-mortar businesses relied on sales tactics — today’s modern online consumer expects a personalized experience, and company’s need to deliver on this expectation.
Plus, the platform must be able to generate accurate and comprehensive information about the smallest and largest aspects of your business, and relay this information at a glance. Don’t settle for a platform unless it has more than 20 dashboards displaying major statistics, like:
- Cycle Analysis
- Rebill Rates
- Active Subscription Forecasting
The visualizations of these stats should make your understanding of the business crystal clear, and the data should be updated in real time, so business leaders always have the latest information at their fingertips when making decisions.
Robust, flexible, effective security
Online security needs to be multi-layered, combining automation and the personal touch of a specialist. In addition to the platform’s own specialists, expect them to partner up with third-party leaders in different areas of security, from identifying and managing fraud to combating chargebacks.
The security you rely on must be able to screen fraudulent users in advance, before they can drain your business of time and money. Industry leading e-commerce platforms manage to pre-emptively weed out problematic consumers.
Security can’t just be strong, it needs to be flexible. The best e-commerce platforms allow companies to set their own security parameters by campaign or product as needed, so the people who know what’s best for their company are in control.
Finally, with consumer attention being a precious commodity, it’s essential that world-class security works quickly. The platform you select should be able to verify and authenticate users in a matter of milliseconds, to consumers don’t even perceive the security let alone object to it.
There’s a good reason why e-commerce is all the rage now, but you need to have a real partner to help you navigate this complex and ever-evolving space. For businesses looking to drive sales and mitigate or even avoid the effects of fraud, an enterprise-level e-commerce platform is an absolute requirement.