How to increase customer trust on eCommerce sites
Why is eCommerce trust important? Trust keeps changing and it does not take time to rust. Consumers keep looking for reviews from their peers. False reviews are hurting the eCommerce trust, but the bubble awareness filter has dishonored the online recommendations. As a matter of fact, the gain or profitability is high only when customer trust is high. Customers buying products, even after payment visit a website regularly is the time to build trust. It is the first step of conversion. There are other steps to bond the trust factor with your clients through your apps or eCommerce sites, to engage and reassure customers. 6 ways to increase eCommerce trust Create a good first impression The good first impression creation begins with trust. In this mobile age, ensuring the website looks beautiful is important. The website should be easy-to-absorb content, fast, facilitate simple navigation, and inspiring imagery. With this in mind, the website must showcase the products with clear imagery and with proper information. The product descriptions outline everything, including delivery, care, guarantee, and returns. The site must be fast to receive credibility. Product availability, shipping information, and policies should be easily accessible. Furthermore, when your product is out-of-stock, you should either remove them from popular categories, recommend similar products, or allow backorders. Improve visuals People help drive purchases by relying on engaging visuals. Regardless of what you sell; the photos should be good-looking to should develop customer trust. Focus on your efforts and make the products of your client look great. The buyers online do not have the option in-person to experience products after all, so having great photos of a product, helps. Setting up elaborate photoshoots and showcasing products as crisp, clear, and well-lit are sure to receive the best points. Display eCommerce trust signals If a client’s business is not very popular, there is a fear always that some other visitor may enter the field. Use trust signals such as add TrustPilot and Feefo reviews. These third-party reviews ensure security seals and bind eCommerce trust. Adding a client’s or their team picture to the About Us page provides extra reassurance. Use subconscious signals of trust such as high-quality images and well-written copy. Use stock photos, and use social proof such as some recent press or customer reviews. Optimize site UX UX design is a way of improving the customer and user life-cycle. To optimize site UX means vision definition, discovery, planning, strategy, execution, iteration, and measurement. Creating a rich experience is a way of influencing users to have a great experience. Optimizing site UX is to provide engaging content, presenting a layout strategically, and providing information concisely. It is a must to optimize the site to bring more traffic, grow revenue, and increase conversions. Use empathy Gaining eCommerce trust is possible by showing your users some empathy. It means understanding the need of the users and offering them easy-to-use tutorials, educational material to use an app like a professional, help docs, and so on. Ultimately, it helps them to see success in their roles. Another key point is building empathy into the product’s UX requires visualizing the products yourself. It will show you what you must create to grab the attention of the users and give them valuable time. Display the right context at the perfect time using saved preferences, and earns goodwill. Consistency with brand’s communication The practice is brand consistency. It delivers messages offering the brand core values, presents the brand logo, and repeats the same color all through the visual elements. Being consistent is a must to beat your competition. Consistent messaging sets your brand apart to gain customer trust. Earning a business or losing them relies a lot on consistency and communication about the brand.
Proven strategies to increase your eCommerce AOV
In the eCommerce industry, the main game is all about increasing your revenue. If you were to conduct a survey and ask eCommerce merchants their aim of providing loyalty programs, free or faster shipping, customer service, and marketing efforts, it would surprise you to discover that all of these are geared toward making more money. What is eCommerce AOV? Every business is focused on making a profit and boosting revenue. A meaningful way to boost your store’s income is to increase the amount your customers spend whenever they visit your store. You can do this by increasing your average order value (AOV). Any profitable and successful business pays attention to their AOV since it helps them identify revenue-generating opportunities (cross-sells and upsells), understand the buyer’s journey, and customer motivation. Improving your average order value helps to promote conversion optimization, improve returns on advertising, and increase your customer lifetime value. Strategies to Increase your eCommerce AOV Your AOV has an impact on your revenue, notwithstanding how small it might be. It can result in more remarkable growth in your business. However, the primary challenge is how to get customers to spend money or buy from your store consistently. Here are proven strategies you can implement to increase your eCommerce AOV. Bundle Products Bundle products and offer them at a discounted rate can help improve your AOV because customers will pay more to get more. For instance, you run a shoe company, you can offer a 35% discount if a particular product or shop for a product above $300. Another option is to pair bestselling products with those that don’t move the market. Well, you can make it easier by permitting your customers to select the product bundle of their choice from a limited catalog. The secret is to sell more by combining products. The more your customer perceives the value of a combined product is worth it; they will be willing to pay for it. Therefore, make your bundle product worth paying for. Create a loyalty program You can take advantage of your loyal existing customers to increase your eCommerce AOV. Interestingly, the success rate of you selling to a new customer is between 60 to 70%, whereas the rate of success to a new customer is barely 5 to 20%. You can design a unique loyalty program that allows rewards for customers who spend higher when shopping. You can offer loyalty programs such as free shipping, discount on selected items, and early access to new products. Use upsell and Cross-sell Attract more high-value sales from existing customers using cross-sells and upsells. Upselling involves asking buyers to buy more expensive products that complement existing products to increase their order value. For instance, a shoe brand suggesting a sander at checkout or a customized belt to complement what is already in the cart. On the other hand, cross-selling involves selling a different product to your customer. For instance, if you sell computer computers, you can suggest a mouse pad, screen protector, or keyboard during checkout. With this, you offer the buyers the opportunity to improve their original purchase value.
Customer service tips to maximize satisfaction for backorders
Ensuring customer satisfaction is paramount in eCommerce, and one of the crucial customer service tips is to avoid delivering the dreaded news of backordered products. Not only does it result in lost sales for you as a store owner, but it also risks losing customers to your competitors. Proactively managing inventory and keeping customers informed about product availability can help mitigate such situations and foster trust and loyalty in your brand. Reordering points and reviewing your inventory level are two essential strategies you can implement to avoid any backorder, along with the frustration it brings. Regrettably, no eCommerce business is exempted or immune to backorders. It is an inevitable situation you have to face at one point. However, understanding how to communicate and respond to customers when your product is out of stock is essential. That communication would determine if your customer base will reduce or increase. To help new eCommerce businesses, here are some customer service tips you can implement to maximize satisfaction during the backorder period. Pre-emptive communication is key A key aspect of effective customer service tips is transparent communication, especially in the event of a backorder situation. Displaying expected shipping dates prominently on your website informs potential buyers upfront, fostering trust. Additionally, for customers who’ve already made purchases, promptly updating them on any backorder developments demonstrates respect for their time and investment. Every customer deserves clarity regarding product availability, enhancing their overall experience with your brand. Immediately you notice or receive information about a backordered product. You need to contact the customer either by email or phone. Whether the situation, provide an estimated date of arrival and keep updating them about their order status. Offer to provide a similar product One of the valuable customer service tips is to proactively offer alternative options to customers facing backorders. Prior to contacting them about the situation, gather information about similar products that may better suit their needs and preferences. Presenting these alternatives, accompanied by photos when possible, empowers customers with choices. While not every customer may embrace this approach initially, providing alternatives demonstrates your commitment to their satisfaction and enhances their overall shopping experience. Offer a partial shipment as an option In most situations, a backordered product is a collection of different products that a customer has ordered. When this happens, you can offer them the option of making partial shipment of the items to allow you to restock your inventory with BigCommerce Inventory Management. Depending on your location, this works perfectly well. People who live in the United States are interested and willing to wait for their ordered items. Nevertheless, if the customers live in a different country, they might not consider this option because of the additional shipping costs. Provide frequent update about backorder status An indispensable aspect of effective customer service tips is maintaining consistent communication with your customers. Regardless of the news being positive or challenging, providing regular updates on the status of their orders is crucial. This proactive approach not only keeps customers informed but also strengthens their trust in your brand. When customers have confidence in your business, they’re more inclined to patiently await their orders, knowing they’ll receive relevant and frequent updates along the way. How BackOrder by GritGlobal on BigCommerce Can Solve Your Stockout Challenges? Managing stockouts can be a significant pain point for ecommerce businesses, especially when there is no native backorder support on platforms like BigCommerce. Here’s how our BackOrder app can help: Never Miss a Sale Due to Stockouts One of the most frustrating aspects of running an ecommerce store is losing potential sales when products go out of stock. With BigCommerce BackOrder, you can automatically switch products to backorder status the moment inventory levels hit zero. This eCommerce automation ensures continuous sales, maintaining your revenue flow even when items are temporarily unavailable. Enhance Customer Communication and Satisfaction Stockouts can lead to customer dissatisfaction if not handled properly. BackOrder allows you to customize notifications, messages, and alerts to keep your customers informed about product availability and expected restock dates. By providing clear and timely information, you can reduce customer frustration and enhance their overall shopping experience. Streamline Inventory Management Keeping track of inventory manually can be a hassle and prone to errors. BackOrder integrates seamlessly with your existing IMS/ERP systems, ensuring that all inventory updates are accurately reflected in real-time. This synchronization maintains your IMS/ERP as the single source of truth for inventory management, simplifying your workflow and reducing the risk of overselling. Flexible Application for Products and Variants Different products have different needs when it comes to inventory management. BackOrder from Gritglobal offers the flexibility to apply backorder settings not only to entire product lines but also to specific variants, such as different sizes, colors, or materials. This adaptability ensures that all aspects of your inventory can benefit from automate backorder management, tailored to your specific requirements. Strategic Inventory Planning Planning for future inventory needs is crucial to maintaining a smooth operation. BackOrder allows you to set thresholds for backorder quantities, helping you manage how many items can be sold on backorder. This feature, combined with the ability to plan for incoming inventory and set back-in-stock dates, ensures you can meet customer demand without overextending your resources. By addressing these common pain points, BackOrder provides a comprehensive solution to managing stockouts, enhancing customer satisfaction, and streamlining your ecommerce operations. Explore how BackOrder can transform your business and keep your sales flowing seamlessly, even when inventory runs low. In conclusion, implementing effective customer service tips is essential for maximizing satisfaction during backorders. By prioritizing transparent communication, offering alternative options, and maintaining consistent updates, businesses can enhance customer experience even in challenging situations. Additionally, leveraging tools like the BigCommerce BackOrder app can streamline backorder management and improve overall efficiency. By prioritizing customer satisfaction and utilizing innovative solutions, businesses can navigate backorder scenarios with confidence, ultimately strengthening customer loyalty and trust in the brand. Contact us now!
4 types of eCommerce promotion you should be offering now
Deals, coupons, discounts, and offers. There comes a time when you are confronted with the decision on which to use for your online store. When do you use coupons, and how many deals should you offer to customers? Coupons, offers, discounts, and deals are powerful tools you can use for your store to drive customer loyalty. However, when you misuse them, they can damage your brand and destroy your marketing strategy. In this write-up, we will explore several eCommerce promotions you can offer for your customers. Types of eCommerce promotion You have different types of discounts at your disposal for your business. While you might not use all, you can implement two or more to drive sales. Percentage-based discount Virtual every store uses the percentage-based discount to provide a small incentive to customers. It can be like 5% or 10%, depending on the business and what they are trying to sell. These discounts can be applied to different products based on location or specific purchases. For instance, buy two pairs of shoes and get 40% on any wristwatch. This type of discount can be applied to various promotion campaigns. For example, seasonal deals, customer loyalty, abandoned cart, offer for first order etc. Dollar value discount This kind of discount comes in the form of credit. It makes people feel they are wasting money if they don’t use the credit. For instance, spend $300 to get $50 off from a particular product. For new businesses, it can help to determine what percentage to use. However, an easy trick you can implement is the rule of 100. If the item you are offering is below $100, then you use a particular percentage discount. However, once it is above $100, you can apply a fixed amount. Using this gives your customer a psychological trigger that makes them buy higher. You might see this type of eCommerce promotion often in referral campaigns, contests, incentives for participating in events or exclusive offers. Free shipping One significant reason most online shoppers abandon their carts is shipping costs. When you offer free shipping, you encourage them to make purchases and mitigate cart abandonment. Furthermore, it helps in increasing your conversion rate and revenue. Use free shipping along with a minimum purchase requirement as it would increase your average order. Shopify allows you to set shipping features and determine when to apply free shipping. Additionally, you can combine free shipping during holiday shopping. For instance, 40% discount code for email subscribers that click a link from their emails. A common and effective practice is to offer free shipping when orders reach above your AOV. Free gift Another option available is the free gift, where you offer customers free items. If you strategically use the free gift option, you can increase your average order rate and eliminate any dead stock. Furthermore, you can set a minimum purchase requirement or volume for customers to qualify before they can get a free gift. For instance, buy ABC products and get free XYZ products. How to apply eCommerce promotion Automatic Discounts This can apply to every eligible cart in the store based on preset rules and conditions. Customers can see them before they make payment. You don’t have to create a discount code to qualify for this offer. According to statistics, automatic discounts help improve customer retention and increases sales. All types of discounts should be tested multiple times before implementation to ensure they work exactly like planned. Common problems with automatic discounts are different calculation methods, overlapping promotions or discounts not working at all. BigCommerce automation and Shopify automation apps can assist you in setting up a whole automated promotion campaign. Based on triggers and conditions, you can schedule not only automatic discounts but also auto-publish content, product, categories, pages, changing banners. One of the most functional and efficient app – Atom8, an automation app are available through the two eCommerce platform, check it out: BigCommerce version Shopify version Discount codes You can use codes as a mean to segment customers or track performance of different marketing campaigns. Discount codes are entered at checkout and customer can obtain them through various ways. For example, limited-time code on promotion banners, individual codes received through email marketing, minigames or loyalty programs.
Elements of the Best BigCommerce Backorder Policy
In 2021, online sales in the U.S. jumped by 40% year-over-year, driven by the growing demand for immediate availability and seamless shopping experiences. This surge in eCommerce highlights the importance of a robust backorder policy to maintain customer trust and satisfaction, particularly for stores using platforms like BigCommerce. A well-defined policy ensures that customers can still purchase items even when they are out of stock, helping to retain their loyalty and encourage repeat business. Understanding Backorders Backorders are an important concept in eCommerce, particularly for BigCommerce stores. When products go out of stock but customers still want to make a purchase, a backorder policy comes into play. This policy helps manage customer expectations, ensuring that even when items aren’t immediately available, customers know what to expect and when to expect it. In fact, during the COVID-19 pandemic, the U.S. saw a 172% increase in out-of-stock items, highlighting the importance of effective backorder management to keep sales steady even during supply chain disruptions. What is a Backorder? A backorder happens when a customer buys a product not currently in stock. The product is expected to be available later, and the customer is willing to wait for it. This practice allows stores to continue making sales even when they don’t have the product on hand. Here’s what happens in a typical backorder situation: A well-managed backorder policy makes sure that the customer knows exactly what to expect. This transparency helps in keeping them satisfied while they wait for their order. Common Causes of Backorders Backorders can occur for various reasons. Understanding why they happen is important for managing them effectively. Some common causes include: When a backorder policy accounts for these possibilities, it helps in managing customer expectations. By addressing the root causes, stores can reduce the number of backorders and keep operations running smoothly. Key Elements of an Effective Backorder Policy A good backorder policy has several key elements that ensure a smooth experience for customers. These elements help in keeping customers informed, offering them flexibility, and ensuring they have control over their orders. Let’s look at these important parts. Clear Communication Clear communication is essential in any backorder policy. Customers should always know what to expect when they place a backorder. This means being upfront about delays and providing timely updates. Here are some ways to ensure clear communication: When you communicate well, customers feel valued and informed, making them more likely to trust your store and return for future purchases. Flexible Payment and Shipping Options Flexibility in payment and shipping is another important part of a strong backorder policy. Customers appreciate having options that suit their needs, especially when their order might take time to arrive. Here are some flexible options to consider: Providing these options makes the shopping experience more convenient for customers and shows that you care about their satisfaction. Option to Cancel Backorders Giving customers the option to cancel their backorder is a key part of a customer-friendly backorder policy. Sometimes, customers might change their minds or find the product elsewhere, and they should have the ability to cancel if needed. Ways to manage cancellations include: By allowing easy cancellations, you reduce frustration and build trust, ensuring customers feel secure in their shopping experience with your store. Leveraging Technology for Backorder Management In today’s eCommerce world, using technology is key to managing backorders effectively. By implementing the right tools, businesses can keep track of inventory, inform customers promptly, and ensure a smooth ordering process. This section will discuss how to use technology to improve your backorder policy and keep your customers happy. Inventory Management Tools Managing inventory efficiently is the first step in handling backorders. With the right tools, you can keep an accurate count of stock levels and anticipate when items will be out of stock. Here’s how inventory management tools can help: Using inventory management tools as part of your backorder policy ensures that you can respond quickly to stock shortages. This keeps your customers informed and satisfied, as they won’t have to wait too long for their items to be back in stock. Automating Customer Notifications Keeping customers informed is a crucial part of managing backorders. Automating notifications helps ensure that customers receive timely updates about their orders, reducing any potential frustration. Here are ways to automate customer notifications: By automating customer notifications, you make sure that your backorder policy includes clear and timely communication. This automation reduces manual work and ensures that customers always know the status of their order, which can enhance their overall shopping experience. Best Practices for Handling Backorders Managing backorders effectively is essential for maintaining customer trust and satisfaction. By following some best practices, you can turn a potentially frustrating situation into a positive experience for your customers. Let’s explore how to handle backorders with excellent customer service and thoughtful alternatives. Customer Service Excellence Providing outstanding customer service is crucial when dealing with backorders. How you communicate and support your customers during this time can make all the difference. Here’s how to excel in customer service for backorders: By focusing on customer service excellence, your backorder policy can help maintain customer loyalty even when things don’t go as planned. Good communication reassures customers that their order is important to you. Offering Alternatives and Incentives Offering customers alternatives and incentives is another great way to handle backorders. This approach shows that you care about their needs and are willing to go the extra mile. Here’s what you can do: By offering alternatives and incentives, your backorder policy not only manages customer expectations but also strengthens their relationship with your brand. It turns a potential negative into an opportunity to delight your customers. Why GritGlobal’s BigCommerce BackOrder is the Ultimate Solution for Your eCommerce Needs To truly maximize the benefits of a solid backorder policy, using the right tools is essential. GritGlobal’s BigCommerce BackOrder app offers a complete solution for managing out-of-stock items while keeping customers happy and boosting your revenue. Here’s why GritGlobal’s BackOrder app stands out: With
4 tips to avoid backorder cancellation
Having a backorder cancellation isn’t a situation you want to experience as an eCommerce store owner. The process of nurturing a lead is quite a hectic one, and allowing such a lead to leave without making a purchase makes it even harder. It is never a situation or event you want to experience for any eCommerce store. Having to wait for a product but getting disappointed in the end can be frustrating. How do you avoid backorder cancellation from your eCommerce store? Before we unveil our four tips to avoid backorder cancellation, you need to understand what backorder is all about. What is Backorder? A backorder is when an online store runs out of an item but promises to deliver the product once it is available. It is different from when an item is out of stock where there is no assurance that it will be available. You will experience a backorder situation when a retailer requests an item that is currently unavailable from the manufacturer or supplier. It is a process that allows customers to order an item and get it whenever it is available. Therefore, to avoid any order cancellation in your store, you can follow these tips. How to avoid backorder cancellation? Prioritize transparency It is imperative to be transparent when dealing with backorders. It would help if you communicated with your supply chain to know when to keep your stock level steady. Furthermore, when a customer makes an order, you need to inform them when the product will be delivered. This will enable them to determine if they can wait for the order or make another purchase. In terms of keeping in contact with your supplier, avoid any deflation or inflation in orders. It is best practice to optimize your site when allowing backorders. For BigCommerce platform, you can use BigCommerce BackOrder app to customize buttons, messages, and packing slips. Then, product availability status and estimated delivery time will be clear to customers. Making backorder policy and return policy easily accessible is equally important to avoid cancellation and complaints. Check out BackOrder here: BackOrder helps manage inventory amount and set back-in-stock dates. Use capture payment upfront You can avoid backorder cancellation if you use capture payment upfront. If you configured your capture payment to function manually, you might not receive automate payment from orders. If you find yourself in this situation, ensure to reconfigure the capture payment after authorization. The authorization process differs from each credit card payment provider. For instance, Shopify Payments offers an authorization period of 7 days. Offer discounts or gifts Another essential tip you can implement to avoid backorder cancellation is to offer discounts or gifts for specific unavailable items. For instance, if you sell cosmetics, and a particular product isn’t available, you can offer a 20% discount if customers can order through backorder. If you have issues with the warehouse or where to stock your goods, these options will help improve your sales and revenue. Gifts and discounts can help reduce your backorder cancellation. It is like going to a restaurant and being served a drink while you wait for the food to get ready. Deliver products on time After a customer orders a backorder product, you should endeavor to deliver it at the appointed time. Avoid the mistake of exceeding the delivery date, which is why you have to be transparent with your customers. In conclusion, implementing the right strategies is crucial to avoid backorder cancellations and ensure a seamless shopping experience for customers. By prioritizing inventory management, proactive communication, and offering alternative options, businesses can mitigate the risk of cancellations and maintain customer satisfaction. Additionally, leveraging innovative solutions like the BigCommerce BackOrder app can streamline backorder management processes, enabling businesses to efficiently fulfill orders and minimize cancellations. By integrating these tips and utilizing advanced tools, businesses can effectively avoid backorder cancellations and uphold customer trust and loyalty. Contact us now!
Comprehensive guide to Demand Forecasting
Can you know the quantity of product you need for the next holiday? Do you know the capital you need to invest in stock? Can you prepare for the festive period to supply everything your customer requires? If you are still contemplating how to achieve that, demand forecasting is the solution you need. In this write-up, we will look at its definition, the different types, and the advantages that come with it. What is Demand Forecasting? It involves the process of making estimations on the future demand of customers over a period through historical data. Performing proper demand forecasting is helpful to any business since it provides valuable information about your current market and other markets. Moreover, managers can make decisive and informed decisions about growth strategies, pricing, and market potentials with it. For businesses that don’t use demand forecasting, it affects their decisions about market targets and products. Furthermore, the ill-informed decision has far consequences on customer satisfaction, inventory holding costs, profitability, and supply chain management. Types of Demand Forecasting Businesses can use several ways to do demand forecasting since we have different forecasting models available. However, in this section, we will look at the most popular types first. Passive demand forecasting For any business, this type of demand forecasting is the simplest to implement. It involves using sales data from previous sales to make predictions on future sales. In other words, you take previous data from a particular period to project the future sale for that period. This technique works best if you already have solid data. If you are looking to stabilize your brand in a particular area instead of growth, then this option is your way out. You don’t need any economic trends or statistical methods to perform this forecasting. Active demand forecasting Peradventure your business is in its growth, or you are just starting, you can use active method. It put into consideration your expansion plans, marketing campaigns, and market research. You would need external data in most situations since you have less historical data to draw relevant conclusions. Short-term and long term projections Short-term demand forecasting considers things within the first 12 months, whereas long-term option projects from one to four years. Both projections allow you to adjust to real-time sales demand based on your projections. For the long-term forecast, it focuses on you shaping the growth trajectory of your business. Advantages of Demand forecasting Reveal seasonal trends Reviewing historical sales data enables you to identify seasonal fluctuations. Aside from holiday seasons that tend to be busy, you can also know which months you have fewer demands from customers and apply necessary strategies. For instance, if your sales took a downward turn every January, you can decide to offer discounts. Plan your supply chain Predicting demand allows you to plan and meet customer needs. For instance, if you always have a high selling period in a particular month, you can also stock your products during those periods to afford a shortage. With this, you will also find out which product would likely be on backorders. Prepare for the future Demand forecasting keeps you prepare for unexpected weather. You have to prepare for the unexpected days. For instance, a natural disaster or you have a new company competing for your market share. With this, you can prepare your supply chain. Understand what influences your sales Demand forecasting uses previous data, which can help you determine what influences your sales. Forecasting can include data about the state of the economy, industry trends, and future market projections. All of these factors can help you adjust and grow your business.
Successful B2B eCommerce Business Model
A business model is one that everyone has their own opinion. For some, it is a combination of choices on how you operate a business, whereas others see it as how a business functions. However, another group says it comprises certain elements, including resources, processes, and customer value propositions. Notwithstanding your view, every business needs a business model to run effectively. More importantly, your B2B eCommerce business also needs such a model to run successfully. For eCommerce businesses, there are three essential business models that are proven successful. In this article, we will explore the masses, customer relationship, and hybrid model. Masses Business Model The Masses business models function excellently with B2b businesses with a vast product catalog that also wants to reach many customers. The model depends on digital marketing instead of a sales team. B2B companies that use this model mainly sell non-specific and general items that any customer can buy. Therefore, to ensure customers return to make purchases, the model utilities various strategies, including loyalty programs and email marketing. For the model to be successful when using for your eCommerce business, you need to have a well-competitive price, and your websites must be optimized for search engines. Customer-Relationship focused Model The model emphasizes personal customer relationships. Here, the sales team is an essential part of the business as it helps nurture customer relationships and answer any questions in their journey to make a purchase. Businesses that sell products and services in a personalized or specialized niche utilizes this model. The eCommerce platform makes it easier to create a personalized experience for every customer, display every item related to what they have already purchased. Furthermore, it also shows a specific pricing system and integrates with CRM and ERP systems to provide a personalized customer experience. Hybrid Business Model You can see this model as the middleman between the customer-relationship-focused model and the masses model. It includes a mixture of selling from an extensive online product catalog to server buyers and selling personalized products. This business allows buyers to buy directly from their website while giving them access to a specific niche. An essential aspect of this model is customer segmentation and integration with ERP and CRM. Conclusion Although business-to-customer businesses, investments, and brands have gotten massive attention since the introduction of the internet, business-to-business eCommerce businesses are here to stay. While their growth might be slow, it will certainly minimize the influence and dominance of the B2C market. Nevertheless, while everything seems promising for the B2B market, the solution is pretty complex. Frequently, it requires a mindset change of the people handling these small and medium-sized businesses. Additionally, these businesses make up a more significant part of the industry in every country. When choosing a particular model for your B2B eCommerce business, you need to find one that perfectly suits your business and website. However, whatever model you decide fits your eCommerce business, remember to optimize your website. After choosing your business model, it is essentials to find the right B2B eCommerce platform to start building your website. With each platform and model, there will be a variety of tools available to assist you. For example, inventory management, automation tools, marketing apps, etc. If you’re a BigCommerce merchant, 2 apps Atom8 and BackOrder are recommended to help your business. Atom8 automates repetitive tasks on the platform, while BackOrder prevents revenue loss due to zero inventory. The link of the two apps’ introduction here: Atom8 helps you automate repetitive tasks to save hours of working. With BackOrder, zero inventory will no longer be a problem.
5 key principles of eCommerce process automation
Small business managers and eCommerce entrepreneurs are always preoccupied with several things such as marketing the business, improving sales and revenue, boosting their brand awareness, and much more. However, at a point, these will inhibit your growth as you won’t be able to handle every aspect properly as your attention will be divided. When faced with this situation, you need to re-strategize and look for a way to use eCommerce process automation. What is eCommerce Process automation? Business automation is a broad topic that is hard to define. However, for some businesses, it might mean automating every automatable process of a company. In contrast, it can also mean setting automated emails to respond to customers once a particular action is taken. In this article, our focus will be on key principles to eCommerce process automation. Key principles of eCommerce Process Automation Repetitive tasks Business automation is perfect when your business usually runs repetitive tasks. You can think of anything a small business manager repeatedly does without adding any significant thought or value. These repetitive takes include report creation, auditing, accounting functions, and email marketing. However, with an automation system, you can avoid these repetitive tasks and allow the software to automate the process. Specific tasks Your goal should be to automate some particular tasks instead of automating the larger ones. Therefore, focus on creating reports that display how works access the learning management system. You can either automate the creation or monitor the analytic data. Furthermore, you can create automated emails to provide information about your daily sales. Aim to save time & money For a small business, automation should save your money, time, or both. Small business owners often work longer hours than expected. It can be a great relief when you automate your business processes to have free time. Likewise, if you struggle with the issue of cash flow, automation can help you save money. Running an automated process that doesn’t provide any return on investment means your business is suffering. An important part of the eCommerce process automation principle is to measure if your automaton is saving your money or not. With this, you can know if to continue with the automation or stop it. Work with easy workflows first Once you start automating your business, ensure your workflow comes first. If you operate a small business, you can start with marketing since they are somewhat direct. For instance, a new customer subscribes to your emails, and you send them an automated welcome message. Today, several tools and platforms allow you to automate processes like this. Daily tasks first Once you start to automate your business processes, you should begin with the daily tasks. When you ask any time management expert, they will tell you the best way to save time is through batch activities. For instance, you save more time checking your emails in batches than flipping through the mails every minute. Furthermore, some weekly tasks might not contribute to your business growth, but automating daily tasks can help you understand where you are going.
How to optimize BigCommerce backorder experience
Backorders have been in existence as long as logistics and supply lines. However, with the increasing competition in the eCommerce industry, maintaining stocks to avoid any backorder issues has become an integral aspect of meeting customer expectations. A backorder is an order, which is waiting to be filled. According to recent statistics, more than 35% of eCommerce companies experience backorders. Previously, it was hard to track backorder. However, today with automation software like BigCommerce, eCommerce store owners can automate their backorders to know what action to trigger when their inventory is running dry. Ways to Optimize BigCommerce Backorder Experience These are not the days you want to keep customers waiting for an order. Your competitors are also fighting for that customers. Therefore, to avoid frequent backorder issues, it is imperative to optimize your backorder customer experience. Here is how you can optimize your backorder. Clear CTA & availability on the product page The first step to optimizing your backorder experience is to get an accurate inventory of your inventory. Here, you need to employ the best integration tools to your eCommerce platform that will provide real-time alerts to avoid any backorder issue Showing Estimated Time of Arrival on product page When you have a backorder situation, you should show the estimated arrival time on the product to give customers an idea of when they will receive the product once it is available. For instance, if you have only one item remaining, you can indicate that more orders will be available for shipment on the page and state. When doing this, encourage your customer to order to assure that they will receive their product on the specified date. Notify on cart page/checkout page Furthermore, besides showing the estimated arrival time on the product page, you need to notify the customer on the cart or checkout page. At times, some customers are quick to order products without reading the description and information on them. Notifying them will help your brand in the long term. Show information on invoice/packing slip Another important way to optimize your backorder experience is to show information on invoices or packing slips. When customers receive these invoices, they can keep track of when their product will arrive. Keep customer updated on order status You need to keep your customers update on the product and its status. Keeping them informed or updated on the current status of their product will help strengthen your customer relationship and build trust in your brand. With this, they can comfortably order from your store again when you have a backorder situation. A comprehensive solution to Optimize BigCommerce Backorder GritGlobal’s BigCommerce BackOrder app will allow you to: Switch products to backorder instantly Customize your messages on buttons, cart warning, and packing slips Planning restock with thresholds If creating a flawless backorder experience requires too many tweaks and workarounds for you, be sure to give our app a try. We’ll get you started in minutes! Conclusion A backorder is an order to assure your customers to fulfill their orders despite not having them in your inventory. It usually involves a promise that a particular order will be fulfilled and delivered on specific data. For instance, you sell various products, and you receive an order for a specific shoe from four different customers. Further reading: Best practices for managing backordered items
Benefits of eCommerce backordering
You have orders flooding into your stores, and everything seems to go well. Inventory is flying as the orders come, and your revenues are giving your goosebumps. Everything looks perfect. Suddenly, you don’t have an adequate supply to meet the demand. The panic button has been triggered; what do you do? How do you avert this and keep your customers? Backordering is a common phenomenon in the eCommerce industry. When faced with such a situation, you should panic because most business successfully operates and rely on backorder to boost sales. Backorder is a widely used strategy to manage inventory and customer expectations, especially during the holiday period when sales are high. Benefits of eCommerce Backordering While some eCommerce storeowners see backordering as something terrible, especially during the festive period, it can be an excellent strategy to cut costs for new store owners. When rightly implemented, there are several benefits of eCommerce backordering. Let’s look at a few of these benefits. Cut carrying cost For new retailers, the first thing to avoid is overstocking your products. However, you should focus on backordering to allow you to have enough orders pending when people start buying. With this, you don’t have to pay additional money for storage space since you deliver the goods once they arrive. For a new eCommerce store, the order volumes aren’t high initially, which can help minimize cost. With backordering, you can reduce costs. Save warehouse space When you have a large inventory volume, you need space to accommodate these products. Regrettably, it can take a huge toil for your business, which can turn out to be expensive. However, keeping a low stock can help cut costs and save warehouse space since you pass your inventory to customers as they come. Increase product value In retailing business, curiosity is very important. A backorder can help increase a product value. A company can create a product and allow a consumer to order it before they can ship it. It creates significant value for the customer and a great marketing plan since customers will think the product is very good or offers excellent benefits. However, to utilize this strategy, a particular number of customers are waiting for the product. When a customer waits for a particular product excessively, it can create disinterest in buying it. Therefore, you have to be careful when using a backorder strategy. Apple is a reputable brand that utilizes this strategy such that its customers always wait when it announces a new iPhone. Retain customer Backordering provides relevant information about product sales, trends, and customers’ behavior. You can use it to understand what customers perceive about a particular product. You can use the statistics to analyze what you need to stock, the product your customers want, and how frequently you need supplies. Must read: Customer retention strategies. Conclusion Backordering is an excellent way to handle high volumes when you don’t have adequate storage. However, despite this, customer service needs to be top-notch. Ensure that you keep your supply chain open so that you can consistently deliver the product when necessary. Although customers understand that backordering takes time, it shouldn’t take too much time to become uninterested in the product. Be sure to check out our product BigCommerce BackOrder if you are looking for a backordering solution for your eCommerce store.
Managing Inventory with Third Party Fulfillment for Ecommerce Shops
Effective inventory management is the backbone of a successful eCommerce business. It ensures that products are available to meet customer demand without overstocking, which can tie up capital and incur storage costs. Proper inventory management minimizes the risk of stockouts and overstocks, thereby enhancing customer satisfaction and optimizing operational efficiency. This blog explores the concept of third party fulfillment and its critical role in inventory management, providing insights on leveraging these services for better inventory control. What is Third Party Fulfillment Third party fulfillment involves outsourcing logistics and inventory management to specialized providers. These providers handle tasks such as receiving inventory, warehousing, picking and packing orders, and shipping products. This allows eCommerce businesses to focus on core activities like marketing and product development while ensuring efficient and reliable order fulfillment. Key services offered by third party fulfillment companies include secure warehousing with real-time inventory tracking, efficient order processing, and managing shipping with multiple carriers to ensure timely delivery. They also handle returns and provide inventory management services, such as monitoring stock levels and conducting regular audits. The main differences between in-house fulfillment and third party fulfillment are related to cost, scalability, and expertise. In-house fulfillment can be resource-intensive, while third party providers benefit from economies of scale, leading to lower costs. Third party fulfillment offers scalability, allowing businesses to adjust operations based on demand without significant investment. Additionally, these providers offer specialized knowledge and advanced logistics technologies, ensuring efficient and reliable fulfillment processes. Benefits of Using Third Party Fulfillment Cost Savings Using third party fulfillment can lead to significant cost savings for eCommerce businesses. By outsourcing logistics and inventory management, businesses can avoid the high costs associated with maintaining their own warehouses, hiring additional staff, and investing in logistics technology. Third party providers benefit from economies of scale, enabling them to offer these services at a lower cost. Improved Efficiency Third party fulfillment providers are experts in logistics and supply chain management, and they employ advanced technologies to streamline operations. These providers use sophisticated inventory management systems to track stock levels in real-time, ensuring that inventory is accurately monitored and managed. They also optimize order processing and shipping, reducing errors and delays. This increased efficiency leads to faster order fulfillment and reduced operational complexities for eCommerce businesses. Scalability Third party fulfillment offers unparalleled scalability. Businesses can easily adjust their inventory levels and fulfillment needs based on seasonal demand fluctuations or growth spurts without worrying about capacity constraints. This flexibility is particularly beneficial for eCommerce shops experiencing rapid growth or dealing with unpredictable demand. Enhanced Customer Experience By leveraging third party fulfillment, eCommerce businesses can provide a better customer experience. Faster shipping times, accurate order fulfillment, and efficient returns management increase customer satisfaction and loyalty. Additionally, the ability to offer multiple shipping options and real-time tracking enhances the overall shopping experience. Best Practices for Managing Inventory with Third Party Fulfillment Accurate Inventory Forecasting Accurate inventory forecasting is crucial for effective inventory management. By analyzing historical sales data, market trends, and seasonal patterns, businesses can predict future demand more accurately. Third party fulfillment providers often offer advanced forecasting tools and analytics to help businesses make informed inventory decisions. Regular Inventory Audits Regular inventory audits are essential to ensure that the actual stock levels match the recorded inventory. This practice helps identify discrepancies, prevent stockouts, and reduce excess inventory. Third party fulfillment companies typically conduct routine audits and provide detailed reports to maintain inventory accuracy. Effective Communication Effective communication between eCommerce businesses and third party fulfillment providers is vital for smooth operations. Clear communication regarding inventory levels, order volumes, and shipping schedules ensures that both parties are aligned and can address any issues promptly. Regular meetings and updates help maintain a strong partnership. Leveraging Technology Leveraging technology is key to optimizing inventory management with third party fulfillment. Many providers offer integrated inventory management systems that provide real-time visibility into stock levels, order status, and shipping updates. These systems enable businesses to make data-driven decisions and respond quickly to changes in demand. Managing Inventory with BackOrder BigCommerce BackOrder, created by Grit Global, is an innovative solution designed to help eCommerce businesses manage inventory effectively, even when products are out of stock. By allowing customers to place orders for out-of-stock items, BackOrder ensures that sales momentum is maintained and customer satisfaction is enhanced. BackOrder offers several key features and benefits that make it a valuable tool for inventory management: Conclusion Managing inventory effectively is crucial for the success of eCommerce businesses. Third party fulfillment offers significant advantages, including cost savings, improved efficiency, scalability, and enhanced customer experience. Additionally, tools like BackOrder from Grit Global can help maintain sales momentum and customer satisfaction, even during inventory challenges. If you have any questions or need assistance with managing your inventory through third party fulfillment, please contact us.
