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E-commerce is the new frontier for retail, as many consumers have been actively switching from brick-and-mortar stores to online shops for over a decade. The true potential for e-commerce can be seen in the progress over the last two years. Motivated by the COVID-19 restrictions, 2020 saw a 46% growth in the e-commerce market, and this switch of customer preferences is not set to stop any time soon. However, with great opportunity comes a great deal of competition, as more businesses than ever are now operating online stores.
In order to ensure that your business is able to excel in this increasingly competitive marketplace, you will need to increase your productivity rates. Increasing productivity can help you to boost your bottom line, build more meaningful relationships with customers and increase your sales.
Customer service is a very influential metric for any e-commerce business, no matter what your business niche might be. Using chatbot technology is a great way for business owners to increase the productivity rates of their customer service staff.
Chatbots can be programmed to answer routine customer questions. Using technology to perform this function means that your staff can focus more closely on more critical or demanding tasks. This technology will also increase the speed at which a customer receives an answer to their question, and in turn increasing customer satisfaction.
By outsourcing your technology management you are opening yourself up to potential increases in productivity. This is because outsourcing technological management to an expert team will decrease the chance of you suffering from technological downtime. You will also experience increased protection against potential cybersecurity threats. A successful cyberattack can hugely impact the long-term growth potential of your e-commerce store, your business finances, your relationships with customers, and your reputation.
Outsourcing your technology management services will ensure that you have the support you need in order to run your e-commerce store productively, without having to deal with the downtime caused by a cyberattack or technological breakdown.
Studies have found that a quarter of consumers would abandon a shopping cart if same-day shipping was not an option. This can be very damaging to e-commerce businesses, as it often takes a great deal of resources to motivate customers to the point that they are willing to make a purchase. Automating your order fulfillment processes enables you to increase production rates and provide customers with the fast shipping solutions they desire.
High-quality decision-making is key to maintaining high productivity rates in your business. After all, no matter how productive your staff are, all processes will be derailed if you find you need to restructure your plans.
You should use relevant data to drive or back up all the decisions you make in your e-commerce business. Using insights that you have gathered from up-to-date data will ensure that you are able to make the most informed strategies and plans. To make data-driven decision-making processes easier, you should use tools such as Google Analytics to access relevant information.
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