What features should you keep in mind while selecting an e-commerce software?
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Sr. Content Writer and Social Media Strategist
Updated 4 months ago
E-commerce is an indispensable part of the retail business. As per Statista, by the year 2023, e-commerce sales revenue is expected to reach $6.5 trillion and contribute to around 22% of global retail sales. These numbers are extremely impressive! As...read more
E-commerce is an indispensable part of the retail business. As per Statista, by the year 2023, e-commerce sales revenue is expected to reach $6.5 trillion and contribute to around 22% of global retail sales. These numbers are extremely impressive! As it presents a world of possibilities for new budding entrepreneurs and retailers.
While you have planned out the perfect product vision, ideal target audience, marketing channels and marketplaces. T, the onus of materializing all these things into a profitable reality comes down to the e-commerce software that your team and CTO choose. It keeps your business competitive, manages the sales cycle, records the transactions, provides an attractive website, monitors payment platforms and a lot more.
The selection process of the right e-commerce software necessitates you to map out all the prerequisites of businesses - the cost of ownership, agility, ease of deployment and development flexibility. It requires the same strategic planning you do when you set up a new physical storefront.
Let’s find out the most important aspects of e-commerce software that you must consider while buying it.
It is very critical to set a budget by envisioning the future, and understand what it will take to keep the revenue wheel turning. Invest in e-commerce software that aligns well with your future goals. A lot of these solutions are cheap and affordable but ask yourself if they suffice to the visions of your business and its long-term goals.
You also need to ponder over things such as the maximum number of visitors/day, orders in peak time, site structure, hardware & software support and the volume of your product catalogs. A software that cannot accommodate heavy traffic and becomes unresponsive in peak hours can wreak havoc on your revenue stream. Any delay would turn your valued customers to your competitors’ website. Ensure that you invest in a platform that can aid you when you expand your business in the future.
Confidentiality is amongst the most prominent factors that have curtailed the expansion of e-commerce business. And security indeed has a substantial impact on online business. You must assess the software's effectiveness in contexts of authentication, file permissions, and verification – safeguarding customer information. Throughout the deployment, there must be action-based protection including SSL certificate installation and a safe payment gateway. All of these functionalities together will help in a streamlined checkout process.
Your business needs e-commerce software that can withstand the rapidly evolving global marketplace. A platform that allows you to sell on numerous channels will not be enough, the software should also be able to integrate each of these outlets into a centralized database.
Flexibility and usability
At its core, e-commerce is very active and dynamic. If you are a designer, content manager or administrator, you will always be on your toes updating the product pages, catalogs, price changes, personalized landing pages, guides, seasonal ad campaigns and more.
The software should enable your team to publish those changes in a short period without demanding extra configuration or the creation of new modules. The platform should also support unpredictable modifications for time-sensitive marketing campaigns.
The new-age enterprise-level software should encourage seamless integration with other software and marketing channels like ERP, CRM, CMS, Social Media and more. They should be proficient to work in line with each other to bring the desired outcomes.
With that said, you should also pick software that has SEO, mobility, analytics, and reporting functionality along with great customer support and vendor expertise.