Ecommerce is one of the most dynamic fields in the modern era. Its trends are constantly transitioning to suit modern consumers better. With giants such as Amazon and eBay, eCommerce has evolved along with its operations tenfold.
One of the significant changes in the eCommerce landscape is the massive increase in products/services. Consumer demands have exploded in numbers, and the sharp surge in numbers has led to an insane amount of stock ready to be sold in bulk.
In such a scenario, orthodox methods fail to meet them. Many manageable tasks have become repetitive and time-consuming. Consequently, businesses aren’t able to keep their customers.
The inability to meet modern consumer demands has led to many businesses failing to generate good revenues. Adjustment to the latest models of business seems like the only solution.
However, another problem arises as business owners and employees need proper training to automate time-consuming tasks. The best method is to prepare a checklist and cross all the items for proper time management.
The following article will cover several methods for streamlining your eCommerce store, some of which are mentioned below.
1. Automating Inventory Management
As explained earlier, consumer demands have tripled, leading to a surge in product numbers. To manage them, the first step you will want to take is to automate the categorization of the products.
Product categorization is an essential task part of inventory management. Automation of such tasks will help you avoid indulging yourself in tedious time-wasting procedures. You can leverage advanced eCommerce product classification and inventory management systems for such a purpose. Multiple software like ERPAG and eLab Journal are available online, which can be installed and used immediately.
Such software programs allow eCommerce stores to monitor and manage stock levels. Wholesalers, distributors, store owners, and sellers can add, delete or change the stock in real-time.
Efficient inventory management saves your precious time and resources. It prevents products from being oversold and ensures seamless operations by managing the store’s front and back ends.
It also allows you to keep track of the stock and ensure that no item goes missing without a trace. Apart from that, you can also manage separate lists for low-stock items.
2. Tracking and Rewarding the Most Engaged Customers
Customer retention is one of the most important aspects of a successful business. If you run an eCommerce store, tracking your most loyal customers is crucial. You can increase your profits by increasing the customer retention rates from 25% to even 90%.
Manually tracking your most engaging customers is quite impractical and a strenuous process. Automation once more plays a vital part, as there are software programs that track the number of purchases from each customer account.
Such software is programmed to offer discounts to customers who repeatedly purchase from a specific store. When the customers’ purchases exceed a limit or number, they are offered an automatic discount or a reward.
Rewarding customers is one of the most effective strategies for growing the revenues of a business.
3. Improving Customer Service Through Automation
Did you know that eCommerce stores lose billions due to cart abandonment each year? It means that out of 100 people who come to your store, there is a chance that only 30 people will purchase.
Manually finding abandoned carts and sending them emails is a hectic task.
By sending them emails, you can automate the process and check back on abandoned carts. It is a part of improved customer service.
Other parts of customer service include integrating functional chatbots, including a self-service desk, and including the option of getting customer feedback. All such processes can be automated to improve customer service and increase overall revenues.
4. Order Management Through Automation
Order management is another essential aspect of eCommerce businesses. As the number of orders increases, you will want to be efficient with the dispatch and delivery process.
Inefficiency in order management can lead to failed deliveries and unsatisfied customers.
Such situations can be critical for businesses.
One of the effective ways to manage a bulk of orders is to leverage automation software. QuickBooks Online and Webgility are an example of such software programs. Such programs add a label number to the order. They can be used to track and deliver orders effectively, closing the delivered ones and making space for new orders.
Your workflow will follow an automated process, leading to more efficient deliveries. It helps with customer retention and streamlining of eCommerce operations.
5. Automated Payment Management
Supporting different payment gateways is essential, especially if your business has a global scope. If you want to cater to more than one type of market, then sending manual emails will consume your time.
Automating payment systems is one of the best ways to cut the fat and focus on the core operations of your business. Many automation software comes with a wide range of support for various payment options.
If your business prefers only one kind of payment system, then ensure that it is user-friendly and caters to a wider market. It is a good idea to research on best payment methods for eCommerce businesses and select the procedures that best suit your store.
Final Thoughts
Ecommerce is a demanding field that requires intense strategizing and planning. Due to extensive customer demands, many orthodox methods of handling eCommerce operations lead to redundancy and potential loss of revenues. The solution to such a dilemma is automation.
By automating vital eCommerce tasks such as order management, customer management, improving customer service, payment management, and operating a reward system for customers, eCommerce business owners can focus on strategy and planning instead of spending time on unnecessary tasks.
