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5 Reasons Why Your Ecommerce Company Needs Digital Feedback

According to Statista, global B2C ecommerce sales are set to hit well over $3.4 trillion this year; a projection which is driving many ecommerce companies to revamp their digital strategies in an effort to remain competitive.

One of the more popular ways of doing this is by adopting a data-informed decision-making strategy. In other words, leveraging the insights derived from data to improve and build upon a digital strategy. Many organizations achieve this by embracing digital tools and technologies that supply them with the data they need to move forward.

In ecommerce, one of the most critical factors for achieving success is a happy customer. In turn, many organizations in this industry put a heavy focus on the customer. This is where digital feedback comes into play. Digital feedback can help ecommerce organizations obtain both a holistic understanding of how to engage their customers, as well as valuable insights needed to meet their needs. But there’s a whole lot more to it than that…

In this article, we will examine 5 reasons why your ecommerce company needs digital feedback.

1. Online journeys are becoming more and more complex

Today’s customer journeys are – without a doubt – much longer and more complex than ever. In the past, online retailers were focused primarily on a simplified customer journey that brought their customers to a singular purchase point. Sounds fairly straightforward, right? Well, a lot has changed since then. Nowadays, they must monitor multiple touchpoints and purchase points at once. To do this effectively, it is important to have a strategy in place that helps these retailers find ways to maximize the value of each of these stages (or touchpoints) as well as build up meaningful relationships with their customers.

This is where digital feedback comes into play.

There are three stages (or parts of the funnel) in which you can collect and analyze feedback: the beginning of the funnel (e.g. measuring the quality of your product content), the actual purchase within the funnel (e.g. capturing exit insights, such as reasons behind shopping cart abandonment), and lastly the confirmation page at the end of the funnel (e.g. measuring how your customers experienced the ordering process through the level of effort it cost them to achieve their goal – Customer Effort Score).

Focusing on these these funnels will not only help grease the wheels for your feedback programme, but also put you on the path towards a better customer experience.

2. You need to better serve your mobile shoppers

Mobile shopping has exploded in the last few years. And this rise in popularity has since redefined the customer journey for retail customers in big ways. In addition to performing research on their mobile devices, consumers are now also making more purchases on their mobiles devices too.

Take it from Vice President & Principal Analyst at Forrester Research, Thomas Husson,

“Mobile is becoming not only the new digital hub but also the bridge to the physical world. That’s why mobile will affect more than just your digital operations – it will transform your entire business.”

In fact, according to Google, thirty-four percent of online retail purchases are now taking place on mobile devices. And while this figure serves as a clear sign that consumers are becoming more comfortable making purchases on their mobile devices, it also puts a bit of pressure on online retailers and how their mobile experience comes across for consumers. So how can you optimize the mobile experience to keep your customers coming back?

In-app feedback can greatly enhance the user experience for mobile users. Mobile apps are still somewhat new for a lot of companies, which means there’s a lot of room for improvement in terms of usability. Should something go wrong, you’re going to need a way of finding out where and how.

Your customers are often the first to find technical errors and flaws on your mobile app so having a feedback option available will help you capture valuable insights (in real-time) and quickly resolve any issues that sprout up.

3. Your customers are demanding personalized experiences

Ecommerce companies nowadays are dealing with modern, tech-savvy consumers whose expectations are through the roof. One of the most common of these expectations is a personalized customer journey. Whether this is helping visitors navigate the shopping experience in a way that suits them best, or simply knowing their preferences and past experiences with your brand, it is something we must all incorporate into our digital strategies – especially in the ecommerce industry.

“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.”  – Jeff Bezos

So how can you meet these expectations and put yourself in a strong position to personalize online journeys?

The integration of customer data/profiles and digital feedback can provide your business with rich insights into the customer journey, and thus equip you with the means to provide them with memorable and desirable customer experiences. Combining your feedback with customer data, such as segmentation data & AB test sessions, which are usually stored in cookies and Javascript objects (such as Google Tag Management layers) serve up insights such as loyalty levels (e.g. NPS) across different age distributions or struggles to achieve goals (e.g. CES or GCR) in certain regions of the world.

Not only will this data help you contextualize your feedback and allow you to pinpoint which customers are struggling to reach their online goals and which customers are most likely to churn (less loyal), but it will also guide you in providing your customers with a more relevant and personalized user experience in both the short and long-run.

4. You’re struggling to differentiate from the competition

As a smaller webshop, you do everything possible to steal market share from the “big dogs”. Competing with price is an option, but competing with service and experience is a smarter long-term strategy. By gathering feedback at key moments in the customer journey it becomes clear how your customers experience important online processes. It also shows that you value the opinion of your customers.

Asking your customers for feedback provides useful and actionable insights. It allows you to make structural improvements that make it easier for your customers to order. The easier it is for customers to get something done via your digital touchpoints, the more likely they are to come back. This ensures a higher level of customer loyalty, leading to more sales and better experiences for your customers.

5. The industry is continuously evolving

Customer satisfaction often stems from continuous improvements made to online funnels and web pages, which means your website or app should not be a static medium but rather something that is changing all the time. In other words, analyzing and acting on your feedback is an ongoing process.

Companies are constantly innovating and consumer behavior is constantly shifting. Habits will continue to evolve along with technology and where will we be? We’ll be forced to adapt to the circumstances we are given or lose relevance.

Keeping up with the competition

As you can see, the struggle is real. But every ecommerce company has the same chance of achieving success. The key is recognizing that listening to the voice of the customer is what will put you on that path. Digital feedback provides you with the opportunity to enhance your offerings online, from the customer journey as a whole to each and every individual touchpoint that your customers are wrestling with.

Author Bio: Erin Gilliam, Content Marketer at Mopinion, has a background in international business and digital marketing. Mopinion is an all-in-one user feedback software that helps digital enterprises listen, understand and act across all digital touchpoints (web, mobile and email). It is now one of the fastest growing companies in the digital customer experience space.

 

 

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5 Things to Keep in Mind When Starting a Business

9 months ago

Starting a business is a tough hill to climb. However, if every potential businessman thought of it this way, then there would be no successful businesses now. It takes a lot of preparation, but the benefits that a businessman would reap after years of running it will surely be priceless.

To shake off some of the newbie nerves, here are some strategies when starting a business:

Build a business you’d like

The first few steps of starting a business will be very challenging. That’s why it is important for anyone to build a business out of something they like doing for the next few years or for the rest of their lives.

If an individual has a business they like, it’s going to have an effect on their motivation and the effort they put in starting and maintaining the business. In the long run, the business they’re starting with will become their passion.

Aside from liking it, an individual should ask himself why he’s doing it. Find the purpose. Identify the calling. This business started from that tiny random curiosity in the corner of one’s mind, and now, it’s turning into reality.

Have patience in knowing the business landscape

It is completely normal to not know everything yet. An individual who’s a master of what he’s doing right now has definitely started as a shaky learner in the very beginning.

Understand that it really is going to be a process to polish every business transaction and it should only be fine to make mistakes because that’s where the individual will learn. As they say, the experience is the best teacher.

Do your research

When starting a business, a lot of things boil down to preparation and readiness. Research about the competitive landscape of the industry that the business will be a part of. Moreover, an individual should have an overview of the target market. This is to make sure that the business is delivering what the customers want and not what the owner wants.

Study their buyer’s journey and customer behavior. While experimenting from time to time might strike gold, the business would benefit in having a full grasp of their target audience’s identity.

Organize yourself

Before an individual is ready to manage quite a number of people, he or she should be ready to manage himself first. This could simply be plotting all the business’ initial activities in the calendar, fixing all the logistics, up to the nitty gritty of setting up a business.

Keep in mind to follow through when there’s an idea at hand and plan the step-by-step process to not get lost in the way. An organized self will be focused and determined.

Know the business bureaucracies

It is not a surprise that setting up a business involves a lot of processes from the business itself up to the government. Licenses, permits, and recruitment notices should all be attended to. Never be late in paying the business’ taxes because this will escalate to a huge problem if not addressed right away.

When employees come in, their payrolls take effect on the business’ budget, so dividing the revenue properly is really crucial.

After reading these initial tips, don’t be afraid to buzz a friend or a colleague to ask for assistance and guidance. Simply ask the minor details of starting and running a business.

Also, family matters when it comes to starting a business. They can give the support an individual never knew he needed. This is not just a phase in one’s life. It’s a life-changing decision that could affect his life forever. And lastly, keep the ball rolling and grab every opportunity that comes along. Success is just around the corner.

This was a guest post by Jess Andriani from Connext Digital.

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10 Global B2B E-Commerce Marketplaces To Expand Your Business In 2019

9 months ago

The e-commerce B2B platforms have introduced a new wave of advancements, which has enabled businesses and companies to get the best product and services at the highest quality.

 

Without moving an inch from your couch, you can view a huge range of collection from brands belonging to every corner of the world.

 

Moreover, from efficient order tracking to secured payment methods, you can experience e-shopping like never before. Such are the traits of the well-known brands that have brought them among the list of top ten B2B Companies of 2019.

 

Gone are the days when buying/selling was hectic. You have to spend hours searching for your desired product in malls and markets and just when you finally get that piece, the salesperson shocks you by saying that your size is not available. However, now things are way more different.

 

Now you do not have to waste time searching, you can leave that on the highly advanced platforms that are integrated with super-intelligent technologies. Before you learn about these brands to see how they can let you take a leap to success here are some prominent stats and facts.

As per the Frost & Sullivan report, by 2020 the e-commerce business is going to make around $1.2T, excluding EDI transactions. Apart from this, the B2B brands offer 62% enhanced search facility to online buyers and sellers.

1. Amazon

Amazon is one of the largest e-retail platforms. It caters companies all around the globe. The company has created its footprint in almost every region and industry. It operates in 14 countries. Some of them are Italy, Mexico, US, France, and Canada. Amazon has over 250k full-time employees who provide exceptional services.

The platform has products belonging to almost every kind of supplies. You can shop for gifts, pretty baby clothes, home appliances, and even heavy construction materials. The company offers shipping facilities to over 100 countries.

You can effectively track the location of your package and get rest assured. Moreover, just when you begin to fill the cart you get to learn about the estimated time of delivery along with the total amount. Furthermore, discounted deals and packages attract potential buyers. The rates are minimal and the quality of each product is incredible. The company also owns the Delivery Service Partner (DSP) Program that ensures branded vans for order delivery. That’s how the customers stay contended and feel safe investing on the platform.

2. eWorldTrade

eWorldTrade is the fastest growing e-commerce B2B site that serves millions of active users. The platform is integrated with advanced technology that attracts and excites each user. Due to its most effective strategies, unmatched product quality and well-protected payment modes, it has become one of the most recommended platforms over the internet.

The company provides a massive collection of products and services. It offers exotic beauty products along with top-notch quality technical equipment. From dairy products to construction tools, small bolts and screws to heavy machinery.

Furthermore, eWorldTrade operated in over 18 regions offering country-centric portals. Some of the top countries include UAE, South Korea, UK, and Turkey. The strong customer foundation and business module ensure to provide flawless and uninterrupted services.

One of the major distinctive traits of the platform is that it not only supplies products but it offers full-fledged digital marketing services. It can not only assist you in creating your business foundation but can also strengthen its online presence as well.

3. eBay

Battling close to Amazon, eBay is a noteworthy B2B platform. Securing the top position in the B2B marketplace, the company prides in offering amazing quality services. It operates in more than 24 countries among which of them are Belgium, Austria, Italy, Canada, and Ireland.

With a strong strategic approach and fresh theme, the company never fails to attract customers and potential business owners. Generating more than $422M revenues the company has shown a major shift to its revenue generation over the past few years.

It has created an unbeatable patch for the newcomers and has given a tough battle to those already battling the competitive thunder in the digital landscape. The name eBay pops up in the mind just when you plan to buy something online. As interesting as its name sounds so do its delivery services. It offers door-to-door services to customers all around the globe.

With highly discounted pricing and efficient product quality, the company prides to be the top suppliers of goods belonging to a diverse range of industries. The platforms provide a broad collection of products from antique jewelry to collectible stuff. The products are neatly organized that makes the experience wonderful and hassle-free.

You can search each item using a product title or sort of a keyword. The efficient product browser not only provides a filtering facility but suggestions closely related to your query.

4. Alibaba

Alibaba prides itself on being one of the biggest China-based platforms. The e-commerce platform provides an exceptional range of products and services to its valued customers.

A group of influential Chinese entrepreneurs established the platform back in 1999. The company is known for its vast product categories. Each product type is further divided into many of its sub-categories; this makes the site one of the largest e-store. Moreover, with the facility to browse products easily, it attracts buyers who enjoy the e-shopping experience.

The market value of the platforms is $140B whereas its IPO value is recorded to have reached $15B. To avoid any language barriers the company operates in two of the widely used languages: Chinese and English.

Alibaba is a proud name that enables users to indulge in the amusing experience of e-shopping. From secured payment modes to a highly integrated system, the credentials of each customer is kept safe and secured.

5. DHgate

DHgate is a highly professional B2B marketplace that facilities buyers to purchase Chinese goods in bulk amount. The platform has a huge range of products including clothing, gadgets, sports accessories, and decorative items. It supplies over 30 million high-quality products to buyers all around the world.

DHGate has secured a prominent place among the top platforms. It operates according to the international business standards while providing secured payment facilities to customers.

6. ThomasNet

With the foundation based purely on customer needs much like eWorldTrade, ThomasNet is one of the platforms that gains popularity in the early years of establishment. Under the leadership of Tony Uphoff, the president and CEO of the firm, it has been operating for 120 years.

The company focuses on customer demands and strives to offer engaging and potential products. ThomasNet supplies and delivers to more than half a million online users claiming itself to be one of the most prominent B2B platforms.

From technology products to a wide range of various items, this is the perfect platform to spend hours shopping. The company being one of the oldest and successful ones offers more than 650,000 manufacturers and distributors.

ThomasNet has shown great transformation over the years. They have highly experienced and qualified professionals who leave no stone unturned in delivering state-of-art products. With evolution at its peak, the company secures the credentials of its valued customers.

7. Global Sources

From over 47 years, Global Sources is generating huge revenue in the B2B ecommerce business. The company prides to deliver products related to almost every field and industry. It has its reach in over 94 countries thereby delivering the highest quality services to valued customers.

The fact that highlights its achievements is that most of its potential customers have established their businesses and are counted among the 100 top retailers. That’s how the company has opened many new retail channels.

8. Etsy

Etsy has made its patch after years of struggle and hard work. The platform is making gradual progress and is supplying products to customers globally. Its sleek interface and easy to browse products facilitate customers and attract them to indulge in the fascination of e-shopping.

The platform has strict rules and policies and provides a secured gateway to buy or sell products. It offers discounted deals and pricing and provides sellers with a strong foundation to establish their business.

9. EC21

EC21 provides a new avenue to small and medium-sized businesses to establish and prosper their businesses. The company supplies goods and services to customers belonging to every corner of the world.

EC21 ensures immaculate quality and fast delivery of goods. Keeping things well organized and addressing every customer needs are some of the prominent traits of the business.

10. Cratejoy

Cratejoy is a subscription box business that facilitates customers with proficient quality subscription boxes. The platform is reputed for having flawless services catered by diligent employees and professionals.

It offers door-to-door services to businesses and brands. Generating over 3M page view and 30K monthly transaction, it paved its way to the list of top B2B brands.

Gerry Wilson is a tech blogger who holds a background in working for popular IT companies. He is focused towards successful tech development, business growth hacks, and effective marketing strategies for startups. He finds himself interesting in writing for leading tech sites, engaging readers and educating them about the cutting-edge tech developments. Follow @GerryyWilson on twitter for further details.

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