According to predictions, global retail e-commerce revenue is expected to reach $6.54 trillion in 2022 (Statista).
This is great news for e-commerce entrepreneurs, but at the same time it means competition is fierce.
The business of e-commerce is focused on monitoring changes, quick reactions and continuous analysis.
E-commerce is disruptive. It has changed the way millions of people shop. But the management of many companies has not evolved. It often acts, apparently, like an old-world dictatorship or fiefdom.
Doing business online has become absolutely necessary for almost every organization. Even if a business doesn’t sell its products or services online, it will likely still need social media profiles and a website.
Therefore, it is necessary to master e-commerce management.
So how do you manage an e-commerce website? These tips will shed some light on the matter.
E-commerce businesses range from one-person startups to organizations with a global presence. In all cases, success drives growth, and this growth is not only in terms of sales, but also in terms of the complexity of managing the company. Especially if you’re a small e-commerce business where everyone seems to be doing everything, you should be prepared to get to the point where you set up specialized roles and responsibilities.
Challenge 1: Difficulty with definition
The main challenge of managing e-commerce is to understand what it really means.
It is the sector responsible for the communication of your virtual store, the production of content for social networks, blogs, your website and, most importantly, for the sale of your products.
1 – Business plan
The first steps to start your own e-commerce business include writing a business plan and choosing an e-commerce platform within which you will create your online storefront.
2 – Mobile shopping is on the rise
Until recently, the primary focus of the e-commerce industry was to achieve the same level of customer experience and personalization that physical stores provided.
But that has changed and now online stores have several advantages over their physical counterparts. The possibility of shopping from anywhere and anytime is certainly one of them.
3 – What are the essential tools for an e-commerce manager?
Some platforms are used by almost all e-commerce professionals. These include Google Search Console, Google Tag Manager, e-commerce tracking in Google Analytics and integrations for e-commerce systems and online payment solutions.
4 – Build trust with quality product information
When managing your digital product catalog, your first goal should be to make sure your (potential) customers feel comfortable shopping on your e-commerce site. You want visitors to your online store to trust your company so they are more likely to place an order with you.
5 – Maintain inventory levels
When you have multiple sales channels or warehouse locations, keeping track of your entire inventory can be a challenge. If your systems aren’t integrated, you may not be making the most of your inventory, or worse, risk overselling. Synchronize your inventory across all channels and gain full real-time visibility to deliver the best customer experience.
6 – Everyone helps customers
Similar to a code-for-all policy, some e-commerce operations may consider a customer service-for-all approach.
7 – Logistics
Except in the case of digital goods, you have to put the product in the hands of customers. And when a product needs to be returned or repaired, your reverse logistics process must return it. There are many examples of good e-commerce companies that failed because they could not manage the accuracy or cost of logistics. Therefore, logistics should be seen as a specialized function and given due attention.
Apply without moderation!
Set your favorite channels according to your budget and goals.
Read more: How procurement management can dictate the rules of your e-commerce business