In our last article, we talked about a young consumer electronics company who wanted to maximize their ROI when they decided to venture into the world of online business. To do so, they had to find ways to reduce their operational costs. But reducing costs is only half the story.
We teamed up with MSDynamicsWorld to take an in-depth look at key ways business owners can drastically lower operational costs, maximize sales growth, foster customer loyalty and ensure a substantial ROI on their e-commerce investment.
As with any other venture, we measure the success of an e-commerce channel by its performance. Assessing this performance involves analyzing numerous, multi-faceted sets of business data. A few of the key measurements include cost, revenue, customer engagement and satisfaction, as well as many others. We measure each of these data sets with e-commerce KPIs, or key performance indicators.
E-commerce is an achievable goal for any business with a product or service to sell. It helps companies lower their costs, grow their sales, and optimize their customer experience.
And yet incredibly, a large number of business owners still feel unwilling to venture an online channel. Having talked with many small-to-medium business owners over the years, we’ve learned that their objections usually come down to one of the following for e-commerce myths.