Ecommerce is a growing business; but to cope up with the increasing competition in most markets, even the best ecommerce players need to strategize well to add stability to their businesses. And while looking for stability, you look for ways to increase revenue and optimize profit; but most importantly you need to look for ways to allure customers. Irrespective of the business you are in, Customer is the crux to your business. Looking for new customers is definitely an option but holding the ones you already have for future sales is of utmost importance. A research from Bain & Company finds that acquiring a new customer is six to seven times more costly than retaining an existing customer. The research further says that businesses that boosted customer retention by even 5% have seen an increase in profits ranging from 5% to 95%. For sure, you can definitely do a lot to retain customers but interestingly, all such efforts pertain to improving customer experience.
Order fulfillment can be the last part of the ecommerce transactions but definitely not the least in terms of value it adds to your business. In fact, this last impression you put on your customers can be the lasting impression which can help you turn them into long term repeat customers. Alike helping customers in store, quick fulfillment time is also a form of customer service. The better you serve, the more you create loyal customers. But the million dollar question is how you do it? One way is to bring in visibility in your supply chain systems. But with so many systems these days, you end up with silos of isolated information. Many small to medium size ecommerce businesses have a volume that’s unmanageable; they mostly find handling such large volume of orders a major drag on productivity. But with i95Dev ecommerce solutions you have options to focus less on volume of information and more on other parts of business.
Handling your own order fulfillment is no cake walking, as there are multiple steps between a business receiving an order and the customer receiving their ordered products. You need to revolutionize your business to cater to latest needs; a transparency for all your stakeholders including your end customer can change the course of your business. Tracking inventory or shipments, giving your customers an option to deciding on a shipping service, generating invoices, or even implementing drop shipping or order end-to-end fulfillment service needs an integrated approach to your business. i95Dev EGE (Ecommerce Growth Engine) gives that holistic approach to your business where you can connect every stakeholder in your business ecosystem and bring them all in the same page.
Businesses often expand their product base depending upon market scenarios keeping in mind the growth perspective. With products increasing from the hundreds to thousands, online retailers find their business in deep soup to individually update every product along with their variants. And in case, you have products of brands like Reebok, Nike, Dell, Apple, etc. to sell in your website and you have to be up and running within few hours of any product being announced, you cannot manage your products manually. All you need is the i95Dev ecommerce solutions as they give you the flexibility to update your products in real time and save you from losing on sales.
To know more on order fulfillment and how it can help improve your business, please feel free to connect with us at http://www.i95dev.com/contact/ or give us a call at 301.760.7499