Even the brick-and-mortar die-hards can glean significant revenues from engaging in e-Commerce – but with so many ‘best practices’ clouding the path to success, which strategies will truly produce revenue-positive results? In this post, we’ll explore e-Commerce website optimization servcies as a strategy for high-performance e-Commerce revenue management.
- Companies are realizing significant gains to e-Commerce revenue relative to their brick-and-mortar performance
- e-Commerce optimization can be a cost-effective alternative to some demand generation strategies
- Website optimization is a top priority for most major industry players this year
Why does e-Commerce matter?
An always online, always-open storefront allows you to reach customers from anywhere there is an internet connection, enabling savvy retailers and merchants alike to reach markets far beyond the influence of their traditional brick-and-mortar locations. Even small businesses can take advantage of e-Commerce by selling their products through online retailers like etsy.com – eliminating the technical complexity and costs associated with publishing and maintaining their own e-Commerce site.
For more established businesses, e-Commerce can represent both a significant challenge and a great opportunity. Most medium-to-large sized organizations employ advanced e-Commerce platforms to manage the look-and-feel, functionality, hosting, and occasionally testing of their online presence. These companies are witnessing e-Commerce growth of significant magnitude relative to the relatively stagnated brick-and-mortar front. Gas prices, convenience, low shipping costs, and new high-tech mobile devices are enabling the exponential growth of this emerging industry.
Just how rapid is this growth, and is there a glass ceiling? Industry experts believe that we’ve just begun the age of global e-Commerce, and the supporting evidence is mounting. For example, one major brand grew e-Commerce sales 36.1% in 2011, but closed 135 stores in the last two years. But if e-Commerce is exploding while comparable-store sales are low, what can you do to ensure that you’re maximizing your revenue potential?
Optimization is emerging as a core function
The core competency for most marketing functions has been – and potentially will remain – demand generation and advertising. But as storefronts migrate online, the importance of understanding technology and the intricacies of e-Commerce operations have created a new function on the marketing team with a high-demand skill-set.
According to the 2013 State of Retailing Online, more than half (51%) of brands, merchants, and retailers surveyed indicated that e-Commerce optimization was a top priority. More specifically, online merchants are looking to optimize checkout funnels, product detail pages, functionality, and user experience (UX). By focusing on delivering high-performance shopping experiences, online storefronts can create revenue-positive momentum without increasing costly demand-gen spending.
e-Commerce website optimization services are attractive low-cost alternatives to tightening demand-generation budgets. The multi-faceted benefits – real-time optimization, improved sales funnels, actionable insights, and improved sales – are allowing e-Commerce teams to do far more than ever before with less cost and fewer man hours. All together, this means that even modest e-Commerce optimization campaigns can have significant impact on your company’s bottom line, representing a beacon of hope in otherwise lean times.