Shopify vs Magento: What Is The Best Fitted For Your Ecommerce Business?
Shopify vs Magento: It’s a battle of the two most dominant eCommerce platforms for various businesses. While Shopify is the foolproof solution for eCommerce business building, Magento is open-source which can be freely added to your computers. Both of them are powerful tools and supportive environments for running an eCommerce business. However, depending on specific purposes, different working styles, and business fields, you must consider between the two platforms in many aspects to utilize efficiently and run business smoothly. Today, we will bring a transparent and fulfilled comparison between Shopify and Magento to help you realize the best fit. Shopify vs Magento: How To Choose The Right Platform Ease Of Use Another point we have compared is the theme. It can’t be denied that your landing page plays a crucial role in a customer’s first impression. Shopify with ten free and 64 premium templates in this category is better than Magento with paid pre-built ones. Shopify also has a more compatible mobile interface that can support a large number of customers who use smartphones to buy online. Moreover, you can customize and design your templates on the Shopify platform by effortless clicking and dragging. As you know, foolproof platforms can help your eCommerce run smoothly without any difficulties and barriers. Shopify is considered a more accessible tool compared with Magento. On Shopify, you can feasibly design and customize your store structure with some click and drag. Magento needs a more professional ability to handle. That’s why it is suitable for web developers rather than regular staff. To run your eCommerce business on Magento, you need to use code to build what you want. However, Magento is more flexible as that can allow you to form what you want. Sales And Marketing Tools Shopify has outstanding sale features. It can prevent cart abandonment by emailing the customers who click out of your eCommerce stores without finishing orders. Also, if you want to sell across various platforms like Amazon, Facebook, Instagram, etc., Shopify can help your products go to lucrative eCommerce markets. Moreover, it is supportive assistance for your shipping process as it is in partnership with UPS, DHL Express, and so on. In terms of Magento, it possesses a robust inventory management system. With it, you totally can manage products from various sources, import and record selling information. Moreover, it is beneficial in hot sale seasons as Magento can set discount percentages and fixed prices for your products. While Shopify allows sellers to run a marketing campaign on social media platforms via third-party applications, Magento is always doing marketing activities on its marketplace with its marketing tools. Also, you need to hire web developers if you want to connect external supporting marketing tools. Apps And Add-Ons Shopify offers more than 1,200 apps belonging to various business activities, such as operation, marketing, finance, etc. Shopify ecosystems will support your e-commerce business from A to Z with excellent tools in an effortless setting. Here are some brilliant applications on Shopify which can help you in many cases: Atom8 with automation, SELLY with promotions and pricing, etc. While Magento contains more than 5,000 add-ons and more than half of them are paid apps. Again, all of them require coding abilities to install. Payment Methods Besides connecting with other popular online payment gates with fees, Shopify Payments from Shopify brings you free transactions. In this category, Magento is more competitive. It offers more than 150 payment methods. Although the payment methods and channels are not as popular as Shopify’s ones, you can install them from the marketplace. Pricing Shopify and Magento bring two different pricing policies. While Shopify depends on quantities of benefits and functions to form 3 pricing plans, Magento relies on the differences in business size and types to establish three pricing packages. Magento seems to be more suitable for large eCommerce businesses, which can pay a lot of money for online selling activities and thus gain more profits and revenue via a more robust operation. Summary: Pros And Cons of Shopify and Magento Criteria Who wins? Ease Of Use Shopify Sales And Marketing Tools Shopify Apps And Add-ons Shopify Payment Methods Magento Pricing Maybe Magento, which offers pricing packages tightly stick to your requirements and demands. Who wins? To conclude the battle: Shopify vs Magento, after having conducted comparisons in terms of some aspects, we concluded that Shopify is more fitted with small and medium business sizes while Magento is suitable for big enterprises and professional operators.
How Much Does It Cost To Start An Ecommerce Business?
An eCommerce business seems to cost less than the traditional offline ones. However, the specific money that needs to be invested is still a question and varies for many business fields. There are so many budget-related concerns of entrepreneurs who want to start up their businesses on eCommerce platforms. This article will list out all recurring expenses in the early step of doing eCommerce businesses. Afterwards, we will suggest some solutions to deal with financial problems. Expenditure At The First-Stage Of New Ecommerce Business Some Kinds Of Cost According to a survey from Shopify, new eCommerce businesses spent most on product-related costs in the first year, at about 32%. Product is the backbone of starting and developing online selling businesses, including inputs, manufacturers, inventory, distribution, etc. The starters usually pay nearly 19% of their budget to their employees’ benefits, salaries, and rewards. Marketing, operation, and offline-related costs accounted for around 11% of their resources, including branding costs, additional software, rent fees, etc. Two other expenses belong to online stores (website construction, design, etc.) and shipping (packaging), which usually make up 10% of the budget. Besides some fixed costs above, there are some variable costs and additional costs that eCommerce business runners need to pay attention to. Firstly, start-up eCommerce businesses often face shipping-related problems like damaged or returned items or extra charges due to bad weather conditions. Secondly, some unexpected costs like insurance, permits, and licenses will make entrepreneurs surprised. Last but not least, a mistake in order quantity leads to surplus inventory that the company pays some money to correct. How Much Does It Cost For Each Business Size? It has been found that an eCommerce business without employees will help you save nearly 70% compared to doing business with employees. In detail, a person who runs the online business by himself usually spends $18,000, while owners who are accompanied by up to four employees spend $60,000 in the first year. Where Is Financial Source? It may not be surprising that most financial support comes from owners’ pockets or personal savings, accounting for nearly 70% of all financial capital. Whenever the eCommerce business earns profits from their sales, they will be re-invested in company capital and continue to make profits again. That is why 30% of investment comes from previous revenues. Moreover, new business runners also borrow money or depend on friends on family investment, at equally 20% of total capital. Our Budget Recommendations Before going into the recommendations, it’s necessary to go through some facts from reliable research. Firstly, the more money spent on employees, the more profits the companies can make. Hence, the recommended cost for teams, laborers should range from 14 to 30% of your overall cost. Moreover, automation applications will help you finish some repetitive and product process tasks like order fulfillment quickly and accurately. Secondly, the more money spent on marketing, the less revenue the companies gain. Over-promotion is a prevalent problem for new businesses, leading to misleading advertisements with overrated product quality. Therefore, new-launched companies should spend 7 to 8% of their total revenues on marketing and promotion. Thirdly, some suggested costs over total expenses for other business activities. In detail, the operation cost is from 10% to 15%, shipping prices are from 8% to 12%. Besides, charges for online sites are 9% to 10%. Last but not least, the most significant part of your investment is in products, which is between 28% and 36%. Products play a crucial role in your eCommerce business, so it is difficult to cut down on this expense. However, we have a solution to reduce the cost if you have low capital and inventory. That is Backorder. With Backorder, you can allow customers to purchase products at pre-order status without any items in your warehouses. Therefore, you do not need any money to buy products from suppliers or wholesalers to make it available before. Conclusion We have illustrated some financial issues for new ecommerce businesses. We hope that after reading, you can depict a cost-benefit picture of your business activities and apply some recommended solutions to avoid loss and valueless investment.
Scale Up eCommerce Business With BigCommerce
BigCommere is a newly emerged eCommerce platform. Yet it is trusted by a lot of merchants for multiple financial advantages to scale up your eCommerce business. BigCommerce provides users with different pricing plans, ranging from the low-cost standard package to the premium enterprise plan. This article will discuss the benefits of BigCommerce and how it helps develop your business. Advantages of BigCommerce Dynamic functionalities The customize filter opinion allows for contextually adding, changing, and hiding filters, helping customers to find the necessary products easily. There is also a dynamic price list. In short, this function enables merchants to personalize their product prices for different types of consumers, thus raising the salability. BigCommerce operates in an easy-to-use drag-and-drop logic. In other words, you can create any page within minutes, quickly update your inventory, order process, and edit and delete any information you need. They also offer high-quality security with multiple payment gateways to serve the best of your customers. Automate eCommerce processes Automation is becoming popular because it is very important to scale up an eCommerce business. These apps help save time and increase productivity. By integrating an automated solution into your system, you can handle your business without any problem. Some of the processes that need automation the most are inventory management, order management, email marketing, customer support, and many more. Improve website UX Two types of platforms available for hosting plans are self-hosted and paid to host. BigCommerce falls into the second category. Specifically, it takes care of your backend, so that you don’t have to build your website from scratch. Then, to attain the best-in-class customer experience, you should pay attention to your UX design. It’s always better to have someone with strong knowledge about web design to work on it. This is also beneficial should you encounter any operational issues. What are the necessary integrations? Product information management (PIM) This is one of the best systems that you may get with Bigcommerce. It is daunting to streamline data across platforms, should you operate on multiple channels. If you implement a PIM system within Bigcommerce, you will be able to handle all the channels very co-ordinately. You always manage to get all the information using a manual process, but PIM will easily gain more profit. Order management system To maintain a huge order quantity in your eCommerce platform, you definitely need an order management system. This system enables you to manage all the order data every day, get all the inventory update within minutes, and keep track of your stock level. CRM This is another system with several benefits. Customer relationship management is very essential because if you want to run your business successfully. It significantly reduces the time your customers have to wait until their inquiries are solves. It also released your staff from having to classify and store data manually. In other words, CRM paves the way for better segmentation, better customer retention, and better anticipation of needs. It protects data and privacy as well. It’s always better to scale up eCommerce business and their standard to increase more profit. You can modify, update any business process to make your business function more accurate and perfect. Find the best deal online now! Implement different functions, software, systems to get a better opportunity.
Ultimate Guide to B2B Personalization for Ecommerce Business
Personalized marketing has gone a long way, but it still requires a significant amount of time and effort. This is especially true if you’re a rapidly expanding business dealing with enormous amounts of data and a variety of people. However, B2B personalization yields the best results. Your eCommerce business will be more successful if you tailor the optimal consumer experience successfully. A tailored strategy, on the other hand, delivers a better experience that leads to increased conversions and great relationships with potential customers. Following we have provided the most comprehensive and most efficient guide to B2B personalization for eCommerce business: Create Different Segments First of all, you need to create different segments for the clients. When there are segments of customers, it becomes easier to identify a particular person in a specific group. The action of breaking consumers into groups with unique characteristics is known as creating custom audience segments. Thus, organizations can divide their customers into groups based on age, interests, gender, marital status, or industry. Recommend Products Based On History Product suggestions are a type of eCommerce customization approach. According to this personalization step, products are dynamically generated for a user. The data – related to the product – may be directed towards a webpage, app, or email based on data such as customer traits, browsing behavior, or situational context. Therefore, it results in a tailored purchasing experience. Differentiate Price Based On Segment Price segmentation entails charging various prices to different clients for the same or similar goods or services. Those people, who are not capable of purchasing the product at that price, cause greater loss to the Company. Companies d9ifferentiate based upon the price, segment the audience as well as material. If you are facing a similar problem, we urge you to utilize the price segmentation technique. Leverage Contents Content leverage is the practice of utilizing each piece of content in various ways in order to maximize the return on investment. Content isn’t worth anything unless customers are aware of it and interested in it. This necessitates content delivery in a unique, intuitive, and helpful manner. The leverage content is the best lesion to instill while personalizing a strategy for B2B business. Use Email Marketing Email marketing also helps in reaching a wider audience and attracting the right audience. This is how customers will get access to the rightful and needful content regarding the brand’s sales or any other hot deal. So, use email marketing and personalize the marketing strategy smartly. Merchants should leverage customer segments to personalize email marketing. Since it is possible to analyze consumer needs from their purchase behavior on your site. Set up chatbots Chatbots are the most amazing ways to personalize the B2B eCommerce Business. Chats remove the necessity of customer support groups and increase the savings of the Company. It assists the Company in delivering the appropriate message to the appropriate audience and enhances the brand experience. Conclusion It is the ultimate guide to B2B personalization that would help you in building the best B2B E-commerce business platform. So, use these techniques while establishing the best and the most comprehensive B2B eCommerce platform. Personalization is no longer a struggle with the help of technology. After finding the right formula for your business, you can always integrate workflow automation for effortless personalization. If you’re a BigCommerce merchant, make sure to try out Atom8: Atom8 helps store management tasks effortless thanks to automation
