4 essential components of an e-commerce platform

Preview by Subramanya C, Global Chief Technology Officer, HGS

CHICAGO, March 26, 2018 / PRNewswire / – (Featured Article) – There is no doubt that e-commerce is essential to meeting the expectations of today’s customers for personalized interfaces, interactions and delivery of Unified Customer Engagement®. The e-commerce industry is a primary area of ​​technological innovation, especially given the growing popularity of e-commerce. According to a Pew Research Center survey, about eight in ten Americans are now online shoppers: 79% have made an online purchase of any kind, while 51% have purchased something using a cell phone and 15% made purchases by following a link. from social media sites.

Characterized by lightning-fast analytics and promotions, these e-commerce solutions meet industry demands and help businesses and customers keep pace.

The essential components of an e-commerce platform are:

1. Large data storage to support inventory management— Managing inventory through your e-commerce platform not only makes information more accessible to sales and customer service, but also enables you to deliver more efficient and informed customer experiences.

The ability to track inventory, especially in a cloud environment, also enables better product tracking and better handling of customer complaints with data sharing across regions.

2. Application of the analysis— Your e-commerce solution should enable improved, cutting-edge analytics and accessibility to all available data. This leads to increased sales through a deeper understanding and better understanding of browsing habits and customer journeys. Studying this data helps to make better product recommendations and offer customers preferred payment options. Hosting customer databases provides simpler and streamlined data binding opportunities that enable optimal use of information provided by customers, such as preferred payment options, navigation, and buying trends. Your ecommerce platform should allow for a thorough analysis of the reasons for a potential customer abandonment.

In addition, they can develop and deliver solutions adapted to abandonment. As a result of this kind of business intelligence, HGS, for example, provided a consumer goods client partner with a chat discount option to avoid cart abandonment. This feature prompts the customer to send a message after they abandon the cart, stating “Do you want a coupon?” If the customer answers “yes” then they open a chat with a team member who will give the customer a coupon code and help them complete their purchase. The ROI for the customer? This proactive chat innovation backed by HGS helped the customer increase conversions by over 40%.

3. Ability to follow trends in customer spending— With your e-commerce application and customer database hosted on a single platform, all the data you need is available to you in one place. This helps provide analysis on more comprehensive data, generating more efficient results. Businesses can map customer spending trends and preferred payment options through the implementation of analytics to access and analyze data from all sources. This trending information can be used to offer discounts and refund policies for payment methods that help increase sales and revenue.

4. Personalized Product Recommendations— Better informed and personalized product recommendations improve the customer experience and enable faster decision-making by potential customers, which in turn helps increase sales and revenue. For example, a customer who repeatedly viewed a product but did not purchase may tell you in your survey that the price was a barrier to buying. Your ecommerce platform should automate price adjustments and customer offers, without losing profitability. Your ecommerce platform should enable this with powerful data binding and analytics capabilities that help deliver personalized real-time experiences and interactions to customers.

Finally, don’t forget the last step in e-commerce: the collective wisdom of online reviews and ratings related to buying decisions. BPOs can support this function, as team members can read each social mention and determine whether or not it is actionable. If this results in action, team members go to the right part internally to engage. This ensures that all messages are read and tracked.

About HGS
A world leader in business process management (BPM) and customer experience lifecycle optimization, HGS helps make its customers more competitive every day. HGS combines technology-based services in the areas of automation, analytics and digital with domain expertise focusing on back office processing, contact centers and HRO solutions to deliver a transformational impact to customers. Part of the multi-billion dollar conglomerate Hinduja Group, HGS takes a truly ‘globally local’ approach, with more than 46,000 employees in 69 delivery centers in seven countries, making the difference for some of the world’s biggest brands in nine key verticals. For the year ended March 31, 2017, HGS had revenues of US $ 555 million.

Log on to https://www.teamhgs.com/ to find out how we can help you become more competitive.


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