Ecommerce Consultants YRC shares a learned perspective
Ecommerce Consultants YRC shares a learned perspective
— Nikhil Agarwal
DUBAI, September 24, 2022 /EINPresswire.com/ — With more than ten years of experience in the field of retail and eCommerce consulting, “Your Retail Coach (YRC)” asserts that it is time for brick-and-mortar retailers to embrace digital transformation and take their businesses online. The fundamental lessons should not be ignored in pulling off such transformations. Otherwise, they would end up facing the same challenges and making the same mistakes as many of their predecessor businesses around the world. Via this communiqué, the team of omnichannel consulting professionals opine that taking a business online need not be a complicated project if done expertly. Here, YRC also explains how it can be done covering a few important aspects.
Why Take Business Online: Vision and Strategy
The eCommerce consultants of YRC ask businesses to first set the vision for wanting to take their businesses online and chalk out a digital transformation strategy. Retail enterprises need to first establish the objectives of going online and answer a few fundamental questions. Is the objective to simply adopt modernisation? Is the business turning into multichannel or omnichannel? What aspects of the business will be affected? Which business processes will be digitised? What new processes and activities will emerge? What kind of technology solutions will be required?
Redesigning the Business Model
After a business goes online, it can no longer work with the old business model. After digital transformation, the business would have greater capabilities. The value proposition may require major alterations. This has a bearing on their revenue streams. There is the emergence of new key partners. The value chain can no longer be executed in the old way. To utilise the leverage offered by digital transformation, the first and foremost requirement is to redesign the business model.
Sorting out the finances
With new capabilities and an altered business model, the old business plan is not going to work. The value chain has to be revisited and remapped in light of the enhanced value propositions. There will be associations with new key partners playing different roles in the new value chain. The emergence of new activities will give rise to additional resource requirements. A whole new channel would be there to be taken care of. The old ways of CRM have to be replaced with contemporary strategies. More inventories have to be handled. There are financial implications of incorporating these actions. With a realigned business plan, businesses can ensure a smooth sail into digital transformation. It gives them the numbers and a plan to help secure the project funding.
Unified CX Strategy for offline and online customers
Taking a business online opens up new touchpoints of customer experience. These new touchpoints include the eCommerce website, social media posts, appearances on local search results, paid advertisements and promotions on digital platforms, etc. It is important to map the customer journey to identify the routine and potential touchpoints. The same applies to offline customers. Having both journeys mapped helps businesses identify all the touchpoints and understand their expectations from each touchpoint. For example, a supermarket should clearly advertise and promote the terms of home delivery. They cannot have two different approaches for online and offline customers for such a basic component of the value proposition. Here, the touchpoint is the store itself where offline customers might feel disadvantageous for not being able to avail of home delivery services because the store is not making it clear.
Selecting the right software is a make-or-break factor for businesses in going online. The performance of the selected software product echoes the service and operational intent. Getting the wrong software could end up endangering the business model and business functioning both at the front and back ends. For instance, a supermarket may want that after the store goes online, the shopping bills would be sent to the registered mobile numbers of customers (after due consent). The POS software must be capable of effectively hosting this feature. Like this feature, there could be many more specifications wanted in business software solutions.
Many businesses do not see digital marketing as essential. Many of them are right on their grounds. The problem however of not using digital marketing is limiting the potential of a business. Some businesses are content and overwhelmed with what they are already managing. They do not see the need of scaling their businesses in which digital marketing can help them. For example, instead of the existing 1000 unique customers, they could reach out to 500 new people via targeted digital marketing on various online platforms. If out of 500, only 100 new customers are added, even then the increase in the customer base would be 10%. Many experienced online business consulting experts and the big retail and eCommerce brands see such output as a major success.
For more insights into how to take business online and YRC’s retail consulting services, please visit https://www.yourretailcoach.ae/
Get advise for E-commerce retail business : http://www.yourretailcoach.ae/contact-us/
Rupal Shah Agarwal
+91 98604 26700
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