As your mid-sized company continues to grow, it's essential to have the right eCommerce platform in place to support your expansion. The right platform can make a world of difference in terms of efficiency, customer experience, and overall success. In this blog post, we'll guide you through the process of finding the best eCommerce platform for your mid-sized business.
1. Define Your Business Goals and Needs
Before diving into the world of eCommerce platforms, take a step back and define your business goals and needs. What are your expansion objectives? What features and functionalities are essential for your eCommerce operation? Consider factors such as:
Scalability - Ensure the platform can grow with your business.
Customization - Tailor the platform to match your brand and unique requirements.
Integration - Check for compatibility with your existing systems (ERP, CRM, etc.).
Security - Protect customer data and transactions.
Once you have some of these outlined, you'll be able to dive into searching for the perfect eCommerce platform for your mid-sized business expansion.
2. Budget Considerations
Mid-sized companies often have more substantial budgets than startups, but it's essential to allocate your resources wisely. Understand the total cost of ownership (TCO) of each platform, including initial setup costs, ongoing maintenance, and potential transaction fees. Compare platforms to find one that aligns with your budget. A technology partner, like Snapshot, would be able to assist here and guide you through the different budget considerations for your mid-sized company.
3. Platform Types
Finding the perfect eCommerce Platform for your mid-sized business expansion can be tricky. Knowing the different platform types will benefit your search. There are various types of eCommerce platforms to choose from, including:
SaaS (Software-as-a-service) - Cloud-based solutions where the software and hosting are provided and maintained by a third-party vendor. Examples include Shopify and BigCommerce.
Cloud-Based - Similar to SaaS solutions but may offer more flexibility in terms of customization and deployment options. These platforms are hosted in the cloud and can be accessed over the internet, some examples are NetSuite SuiteCommerce, Adobe Commerce, and Salesforce Commerce Cloud.
Open Source - Provides the source code of the platform, allowing businesses to modify and customize the software as needed. They can be deployed in various ways, including on-premises or in the cloud. Examples include nopCommerce, WooCommerce (for WordPress), and Magento Open Source.
Evaluate which type suits your business model and technical capabilities best.
4. built in functionality
Compiling a comprehensive list of functionality that aligns with your specific business requirements is a crucial step in choosing the right eCommerce platform. This list should encompass elements like product display & management, inventory messaging, order processing, payment gateways, SEO tools, reporting and analytics, personalization, subscriptions, loyalty and more. By evaluating whether these features are available out of the box or if they necessitate customizations or the use of third-party apps, you can make a well-informed decision. A platform that inherently provides most of the needed functionality can indeed lower initial project costs and reduce the ongoing support and maintenance overhead. It streamlines your operations, optimizes the user experience, and ultimately contributes to the success and growth of your online business.
5. User-Friendliness
Consider the ease of use for both your customers and your internal team. A user-friendly interface and intuitive content management system (CMS) can save time and reduce training costs. Test the platform's admin panel to ensure it's manageable for your team. This might be hard to compare if you've been on the same platform for an extended amount of time. You've learned your system inside and out, so anything different won't be as easy as what you are used to - so consider other platforms with an open mind.
6. Mobile Responsiveness
With a growing number of consumers shopping on mobile devices, it's critical to choose a platform that provides responsive design templates. Ensure your eCommerce site looks and functions seamlessly on smartphones and tablets. This should be a default, but you'd be surprised. Know where your traffic primarily comes from and ensure that your platform is able to represent your site best.
7. SEO and Marketing Tools
Effective online marketing is crucial for growth. Look for eCommerce platforms that offer built-in SEO tools, content marketing features, and integration with popular marketing tools like HubSpot, Klaviyo, and Listrak. Know what you need, but don't get distracted by a platform that offers you the world in terms of marketing and SEO. Discover what you will and won't use, based on internal resources. You don't want to pay extra for things that you aren't going to use.
8. Security and Compliance
Protecting your customers' data and complying with industry regulations is paramount. Ensure the platform you choose has robust security features and is compliant with relevant standards (e.g., PCI DSS for payment processing).
Conclusion
Selecting the best eCommerce platform for your mid-sized business expansion is a critical decision that will impact your growth and success. Take your time to assess your needs, budget, and long-term objectives. By considering factors such as scalability, customization, budget, and user-friendliness, you can make an informed choice that supports your mid-sized company's growth for years to come. There is an easier way of doing this. Reach out to Snapshot, we offer eCommerce platform matching as one of our service offerings. We get to know you, your business, and your competitors to see what eCommerce platform would be perfect for your mid-sized business. We work hand-in-hand with all of our clients and are invested in your success. Learn more about Shopify, BigCommerce, and NetSuite if you are considering those platforms. Or, go ahead and contact us and let us help you!