The past year has seen a proliferation of articles and blogs about the eCommerce boom. The rising popularity of online shopping was already a hot topic and then along came a global pandemic that forced countless businesses to close their physical doors and increasingly look to the internet as a platform for selling their goods and services. Some organizations have remained all-digital, others have found the perfect mix of bricks and mortar and online and many budding entrepreneurs have rushed to start their own online ventures in a bid to benefit from what has been described as a boom that will last far longer than the pandemic itself.
This is not a blog celebrating all that is great about the eCommerce boom though. Rather it will shine a light on the reality of establishing an online store, with studies having shown that eight out of 10 are abandoned within two years of starting up. Amid all the enthusiastic talk of low costs, huge revenues and endless opportunities, the fact is many eCommerce businesses fail at their first attempt. The secret to success comes with identifying exactly what is needed to build an online store and, more importantly, the best way to ensure you tick those boxes.
Despite the challenges that lay ahead when launching an online store, it is remarkable how many people try to handle everything on their own. From developing SEO strategies to managing customer support, countless well-meaning entrepreneurs have been burned by trying to oversee infinite aspects of their business without support. While it may seem feasible to be a jack-of-all-trades in the early stages of a venture, there comes a point when one’s energy is best spent focusing on their areas of expertise and leaving specialized tasks to those who are highly qualified in their own right.
This is where eCommerce outsourcing comes to the fore. Rather than employing someone in-house – and bearing the sizeable cost of doing so – hiring an external service provider to tackle specific functions is a cost-effective and highly productive way to give your venture the best chance of success. There is only so much time in a day and that is why eCommerce entrepreneurs should spend their time on certain tasks and delegate non-essential activities and those that require an expert touch to others. Here are some of the key benefits:
Outsourcing can clearly help fledgling eCommerce businesses increase their profitability but what should you consider before teaming with a provider? While this checklist is a great tool to help you match your business needs with a potential partner, here is a quick snapshot of factors to weigh up.
The eCommerce industry is highly competitive, all the more so for emerging players, but with the right tools, there is huge potential to make your mark. As you’ve just learned, one of those tools is outsourcing and it has repeatedly proven itself as a way to bolster profits, reduce costs and increase productivity in a world where every resource counts. Find out how one retailer managed to build a successful online store to manage unexpected demand.
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