Key Considerations for Choosing the Right E-Commerce Platform (Part 1)

Global technological shifts have led to a dramatic rise in the e-commerce industry.

You might be one of those business owners who want to take advantage of the many benefits of e-commerce but aren't sure about the exact platform. On the one hand, there is a huge difference in customizability between an own e-commerce site and a pre-built and templated site. But on the other hand, pre-built business websites offer convenience because you don't need to create a website from scratch.

As a professional web development company, we urge you to make this choice based on your various business goals. There, with these goals in mind, you can research the differences between the various options for an ecommerce platform and see which ones meet your requirements.

1. What is an e-commerce platform?
2. What is the difference between marketplace and e-commerce?
3. How does an e-commerce platform work?
4. What are the benefits of having an e-commerce platform?
5. How to choose the right e-commerce platform?
6. Questions to ask yourself before deciding to choose an ecommerce platform
7. Available eCommerce Platforms

What is an e-commerce platform?

The e-commerce platform is designed for online stores (from small to business) to manage their business in a complete software solution. On this platform, companies can run their own website, marketing, operations and sales - allowing them to run their own business and operate it centrally.

What is the difference between marketplace and e-commerce?

E-commerce sites differ from marketplaces in terms of ownership and customization.

Marketplaces are platforms where various online retailers sell their products on-site, with no personalized website features — just show, sell, and ship. E-commerce platforms allow sellers to personalize their website according to their business needs.

If you want to dig deeper into the matter, check out our blog Marketplace and Ecommerce for more information.

How does an e-commerce platform work?

Most of the processes of an e-commerce platform are automated, but starting an e-commerce business requires you to understand every step of the process.

First, you can customize your store system from the available payment options, product management, and customer service. Once set up, you can display all your products on your website while placing them under categories, providing product dimensions, details and images. Organizing each of your products into a website will simplify the user journey. Potential customers can be directed to your product through search engine results, paid advertising, or organic traffic. Customers can add products to a digital shopping cart and decide when to checkout and ship products.

What are the benefits of having an e-commerce platform?

E-commerce platforms help you simplify your user experience (UX) from product discovery to checkout with essential features like product catalogs, security, and flexible payment methods. E-commerce platforms also have plugins that can help you guide your customers to the most profitable products — leading to more sales. You can have a more effective customer service system, have a 24/7 global reach, and build your brand recognition in a more personalized online store. There is no doubt that you need to thoroughly understand the pros and cons of e-commerce, and all the platforms available will prepare you to start your own. But if you're really up for the challenge, then:

How to choose the right e-commerce platform?

Having an e-commerce website is not as simple as putting your products on the shelf waiting to be sold. Just like opening a brick-and-mortar store, you need strategic planning when building an e-commerce business.

You might be drawn to some ecommerce platforms that offer affordable plans, but it's not just your budget that you should consider.

Here are the factors you need to consider and do some research before submitting and choosing an ecommerce platform:

1. Implementation cost
2. Number of features or extensions available
3. Customer Service Features
4. Payment method
5. Safety
6. SEO Considerations
7. Data-driven analytics
8. web design personalization
9. mobile friendliness
   

Not all features will work for your business, so choose one that works well with the features highlighted by your ecommerce platform.

1. Implementation costs

Of course, knowing the cost of hosting an ecommerce store will forecast your spending and estimate your ROI. Some ecommerce platforms offer plans that include many features, such as web design features, security, functionality and maintenance, as well as recurring hosting. The initial development cost isn't the only cost you should keep in mind. Running an e-commerce website requires maintenance, security, and other functional upgrades, which can be expensive if you don't do the proper research before launching your website.

2. Number of features or extensions available

Does the annual fee cover the basic features you need to start your website, including a domain name and hosting? Some platforms may come with affordable plans that cost extra for features in the form of extensions. Not everything will work for your online store, so listing the basic ecommerce features will ensure the possibility of choosing the platform that's right for you. Include off-site extensions like payment gateways and analytics tools in your list.

3. Customer Service Features

UX must always be the primary focus of any business. Improving your relationship with your customers doesn't just lead to smooth page navigation and attractive web design.

One way to get interactive customer service is through customer support. A good customer support system can resolve issues quickly through the channels of their choice. E-commerce platforms should anticipate all technical problems and provide the best solution for each problem. Technological advancements provide more resources, such as artificial intelligence (AI) in digital marketing, to create better customer service interactions. Some platforms offer AI-powered support systems that can automatically resolve common issues.

4. Payment Methods

How do your customers usually pay? Are they paying with a credit or debit card linked to their bank account, or are they using redirection and offsite payments? Are there payment options for international shoppers too? You should find an e-commerce platform with multiple payment options. If you want to have a wider global reach, your business should offer payment processing services in different currencies and payment methods. With any payment gateway you decide to use, you should make sure it's convenient, secure and always has more options. More payment options translate into more transactions as it reduces friction for customers at checkout.

5. Safety

Safety is a way to show that you are a trusted brand.

A robust e-commerce security system can identify and defend against most security threats. A cyber intrusion can damage the reputation of your e-commerce business as customers will be more reluctant to shop at stores that put their financial and personal information at risk.

With that in mind, here are some key security features you shouldn't miss when choosing an ecommerce platform with robust security:

• Privacy: Confidential shopper information must not be shared with unauthorized individuals. Their financial and personal data can only be accessed by your company and must not be disclosed to anyone outside the company.
• Verification: Transactions should have a verification process, such as password, two-step verification, or one-time password (OTP) verification, to verify the identity of each customer.
• Terms and Conditions Agreement: This means that both you and your client are transacting purposefully and consciously, and that both parties are accountable for every action or commitment in the course of the transaction.

Check the platform for the aforementioned security features, Payment Card Industry (PCI) compliance, and data backup.

6. SEOPrecautions

Developing an SEO strategy will increase organic traffic on your website. When potential customers use search engines to get information about a product or service, ranking higher in search results increases your chances of converting them into customers. Ecommerce SEO considerations include domain names, meta descriptions, image alt tags, navigation links, page titles, titles, IP addresses, and more. It also includes your site's indexability and crawlability - which are crucial to your ranking on search engines.

7. Data-driven analytics

Accessing data to understand customer behavior trends and make data-driven decisions is critical. With this, a good analytics tool is a must in e-commerce. Most ecommerce platforms integrate their own analytics so you don't need to sync data and develop new insights and solutions from another analytics platform. If you prefer to use other analytics solutions, you can find extensions on most platforms.

8. Web Design Personalization

If your goal is to quickly build an online store, some ecommerce platforms offer pre-made templates to save you even more time and financial investment in web development. Even so, most businesses prefer to customize their website because they are good for a competitive advantage. Most e-commerce providers allow you to customize your web design, but they cost relatively more than a website theme. To learn more about customization, check out our recent article on ecommerce design tips to increase sales and conversions!

9. Mobile friendliness

The number of shoppers using mobile devices is now on the rise, so incorporating your website into mobile technology will make transactions easier and more seamless – avoiding the possibility of abandonment. When choosing an ecommerce platform, keep in mind that you're not just looking for swipe functionality and navigation. Ask about mobile-only features such as card design, Touch ID, click-to-call and click-map buttons.