1. Cloud Solutions
Working with cloud solutions helps any kind of business improve efficiency. In the past, it was very common to turn to specific computers that had specific software installed.
Cloud solutions have a large number of benefits, going from an easier collaboration between different team members to the possibility of working remotely from anywhere. In fact, a LogicMonitor survey has predicted that 83% of all enterprise workloads will happen in the cloud this year 2020.
2. A/B Testing Tools
We all know testing is critical when it comes to finding the perfect product mix, merchandising arrangement or promotion that will translate into higher conversions.
A/B testing aims at discovering the impact in conversion that different variables can have among website visitors. But in order to get proper results, the samples need to be even. A/B test tools allow you to simultaneously present a different version of your website to half of your visitors to see the true impact of a specific variable.
Nowadays 43% of businesses say they don’t have the right tools for testing, which makes it longer and more time consuming to perform any kind of tests.
For instance, to test the impact in conversion when integrating recommended products, you might want to test different kinds of products (items to complete the look, similar items, and items from the same category, for example) to see which of them has a higher conversion impact. Without testing tools, you would need to try every variable for, let’s say, a week, with a total testing time of 3 weeks. Using A/B testing tools, you can test the three options in the same period of time, which increases testing efficiency by 66%.
3. Marketing Automation Software
Many of the current eCommerce marketing techniques involve retargeting visitors and customers who visited or already bought on your site in the past. Trying to achieve more sales among these customers has a higher chance of conversion success.
Marketing automation tools are the perfect ally for your team, as they can help you trigger actions automatically depending on your customer’s behavior. This not only has an impact on the number of leads, that ramps up to 80% but it also translates into a 77% increase in conversions. An example of this would be automating reminder emails to users who have filled a basket but have not finished a purchase. All this, without much effort or time from your eCommerce team.
4. Product Information Management Systems
Managing product information is critical for any eCommerce business. Not only it determines how easily customers will be able to find your products, but also it has a huge impact on conversion rates. In fact, according to a Shotfarm survey, 78% of consumers find product information vital when deciding whether to proceed to purchase. However, you may come across some challenges when managing product data.
Maybe you are provided with items that are wrongly mapped to a certain category, or you see yourself forced to spend a lot of time correctly categorizing items and assigning them data.
A Product Information Management system will help you centralize all product data to push it to your different channels. Moreover, the latest generation of PIM systems integrates AI and Computer Vision tools that will map items to categories and attributes just by analyzing the product images, reducing 10x the annotation workload and increasing your team’s efficiency.
6. Team Communication and Organizational Tools
It might seem quite basic, but many tasks are pushed back in time just because communication flow is not smooth enough.
Although emails are still essential communication tools to convey decisions, keep track of internal affairs and leave a written record of communications, instant messaging platforms can speed up processes and reduce the delay in the plan or strategy implementation. For instance, Slack, a business instant messaging provider run a survey in which customers reported a 32% increase in productivity due to the use of their tool.
Despite some voices challenging the increase it can have in performance, some research studies show that using real-time internal communication tools help speed up these processes.
Smaller eCommerce teams can find it hard to deal with customer requests in real-time. That is why turning to AI-powered chatbots can be useful.
With the advances in natural language processing and AI, chatbots can handle part of your requests. Some research even indicates they are already able to handle 69% of cases from start to end. This means a 69% reduction in workload regarding chat case handling. This will free up time from your team, who will be left only with the remaining 31% the chatbot cannot really solve. And if you wonder about the impact it can have on customers’ satisfaction, know that surveys state 70% of millennials are satisfied with chatbot experiences.
7. Inventory Management Tools
Are you still working with spreadsheets? If that’s a case, you are highly likely to come across duplicate SKUs, errors in stock synchronization, etc., that make inventory management a truly time-consuming nightmare.
In the particular case of retail, inventory is inaccurate 63% of the time, which leads to a huge waste of time when trying to define sale strategies. Working with ERPs or Inventory Management software can reduce this loss of time dedicated to fixing errors or figuring out stock inaccuracies.