Launching Your eCommerce Business? Do It in a Sustainable Manner!
If you are serious about your eCommerce business, and you already have launched your eCommerce store, then you will be pretty aware that a better ROI on your eCommerce business is extremely crucial for its overall success. Some of the parameters that affect your business growth and can be managed in a sustainable way are as under:
Time to Market
It is very important that you understand the importance of the time taken to market your product or service to the intended target audience. This is essential because the eCommerce landscape is always changing and you will need to keep up with the ever changing trends. The right way forward is to test, tweak, and optimize your products or services and ensure a lean time to market value, for the best and most optimal results.
Agile Or Waterfall Development?
Many eCommerce businesses, especially if they are first time businesses or well known brick and mortar stores going online for the first time, still want to approach the conundrum with an extremely fixed view that don’t actually drive value. When looked at closely, this procedure is essentially water fall development.
However, as discussed early in this article, the waterfall development model is now outdated and is being fast replaced by the Agile methodology, which takes into consideration the launching of the more important and high priority features of your website earlier and on a faster basis. Hence, for example, if your eCommerce website takes around 12-13 months under the waterfall model, under the agile approach, it should ideally take around 5-8 months.
Now that you have launched your website, the process actually should have helped you save time and money, which you can now pipe into other crucial website related activities, you should concentrate on focusing on elements such as continuous improvement and testing. You can also include the post launch optimizing process and maintenance as part of your website. These steps can improve your website’s returns and create marvels for your eCommerce business.
In order to start earning profits, you need to sell your products. However, you will need to sell value to your customers before you can make profits. The quandary is how will customers find your eCommerce website so that you can start earning profits. The answer to this question is to allocate your budget in a sustainable manner, so that you have enough funds to cover the launch phase. Start marketing your website much early before your site goes live, so that there is enough large a customer base that will come to your site within the first few days of launch to buy your products or services.
Simply put, you cannot launch an eCommerce site and discover that you cannot sustain it – there is not enough money around to push the project forward. Let your website be data-driven and there is no room left for gut-instincts any more.