Finding the Perfect Fit: How to Choose the Right Ecommerce Platform

I'm Edin Turcinhodzic, and I work at Knowit Experience Malmo as a passionate consultancy manager and e-commerce guru. I'm committed to pushing the limits of the B2B and B2C ecommerce fields, and I enjoy the challenges that come with it. With my background working with some of the biggest retailers and e-tailers in the Nordics as well as internationally in several SAAS platforms, I'm sure I can make a valuable contribution to any business.

I love both to take in knowledge and share with the ecommerce community at large through a series of helpful blog posts. My posts cover a wide range of topics, from B2B and B2C strategies, ecommerce, sales to the latest trends and technologies. I do this by drawing on my more than 15 years of experience.

In this article, we'll talk about choosing the right ecommerce platform, which is one of the most important things for any business that wants to do well in ecommerce. This is a big one, folks. We'll go over all the steps, the dos and don'ts, and everything else you need to know to make an informed decision. So, buckle up and get ready to step up your e-commerce game.

The corporate world is changing quickly, and online presence is more important than ever! This is where e-commerce platforms come into play. An e-commerce platform is a robust software system that allows firms to manage their online sales and transactions easily. Vital eCommerce operations have quickly progressed from a competitive differentiation to a commercial need. B2B companies must invest in new digital technology to keep up with business buyers' demands.

Purchasing a new e-commerce platform is frequently a high-risk endeavor, and success with all of its components is nearly only possible if you have done it multiple times previously. However, the truth that technology is key is becoming increasingly evident as more and more people plan their e-commerce channels several years in advance. In this guide, we aim to illustrate the benefits and drawbacks of various technological options and what they can signify for your organization.

In addition to reviewing your company's eCommerce capabilities, you should analyze the many types of eCommerce platforms accessible. Some platforms are tailored to specific industries, while others offer a general-purpose solution. Others provide more complex functionality, such as built-in analytics and marketing tools. To ensure your company's success, exploring different options and choosing the platform that aligns with your specific requirements is essential.

The capacity to enable anytime, anywhere purchases, give real-time order tracking, and retain clients through digital loyalty programs are now considered baseline standards for B2B enterprises to prosper. In addition, B2B decision-makers recognize the importance of an efficient and frictionless buying journey for their companies' long-term growth and success. To achieve their objective, businesses must evaluate how well they prioritize dedicated eCommerce leadership and resources.

Today's businesses that sell to other companies (B2B) must understand what their buyers want and expect when working with them. This is important for building strong partnerships. They are fundamentally changed. As a result, B2B firms must focus on the end-to-end digital experience for all buyers rather than just negotiating significant contracts with the buying department or upper management.

B2B providers must provide the content, services, and experiences that their buyers enjoy as B2C consumers daily. A long-term commercial plan must take this reality into account. The challenge for retailers is integrating their portfolio, content, and technology into a digital ecosystem that adapts to new demands. And the best part? There are so many fantastic possibilities! In this article, we'll go through the various considerations when choosing an e-commerce platform. Prepare to be amazed!

Important discoveries

European companies are putting more effort into eCommerce and self-service as part of their strategic goals. Businesses know that eCommerce is a vital way to improve customer satisfaction because customers want more personalized interactions. By improving the customer experience, businesses can build a base of engaged and loyal customers, which leads to solid revenue growth and good financial performance.

By digitally supporting and simplifying the buying journey, European B2B companies have a unique chance to bring in new customers and strengthen relationships with existing ones. Different companies in the B2B sector have different levels of digital maturity, but most still have room to grow. Even though European B2B companies are ahead of their global competitors in self-service account management and online purchasing, they are behind in other eCommerce best practices that can improve the buyer experience even more.

Even though companies see digitalization as a key way to set themselves apart and are racing to offer better experiences, moving too quickly can be bad for business. When a business is in a hurry, it often faces problems with its structure, processes, and technology. So, businesses need to take a balanced and fast approach that considers all ways to get to market and uses best practices and lessons learned from other businesses.

As Litium releases its seventh annual report on Nordic Digital Commerce in B2B, it's clear that most Nordic B2B companies have no choice but to look into the possibilities of digital sales. Some companies have entirely digitized their sales processes, while others are just getting started.

The benefits of digitalizing sales for B2B companies are clear. Even though the initial goal is often to streamline sales and make internal administration more effortless, the results are also liked by business customers who like the flexibility of self-service and having access to products and information 24 hours a day, seven days a week.

More and more B2B companies are putting in extra work to learn more about their customers' journeys so they can make their digital services fit their needs. This makes sure that their investments are suitable for their business and their customers.

As a recession seems likely, companies that find the right balance between cutting costs and investing in growth will do well after the recession. Future winners will likely put operational efficiency higher on their priorities than their competitors while also making significant investments in marketing, R&D, and new assets. So, it's good to see that 13% of the companies surveyed plan to increase their investments in digital commerce to fight the recession. Only 4% plan to cut back on these investments, while 72% plan to keep making the investments they had planned in digital sales enablement.

Key findings from the Litium report include:

• 69% of B2B companies currently utilize digital channels for sales enablement. Among them, 38% offer an e-commerce solution, with or without requiring login for online purchases.
• Companies without fully digitalized sales processes still enable digital sales in other ways. For example, 18% allow customers to request prices or quotes online, and 12% provide digital product catalogs for browsing before contacting the company.
• Among the largest companies (revenue exceeding 500 million), 81% offer digital sales, which is approximately 20 percentage points higher than the smallest companies.
• An average of 30% of total sales are conducted digitally in companies that sell through digital channels. The remaining sales are either direct sales through the company's own sales organization or indirect sales through partners and resellers.
• 68% of companies selling through digital channels reported making organizational changes due to their digital investments.
• In most B2B companies, the CEO, CMO, or head of sales is responsible for digital sales. 13% have a dedicated head of e-commerce, and 12% have a digital strategist managing digital sales.
• Despite the recession, 13% of companies selling through digital channels plan to increase their digital commerce investments.

What is an e-commerce platform?

An e-commerce platform is a robust software toolset that allows businesses to create, manage, and operate online stores effortlessly. This platform is the backbone of global product and service sales, providing vital features such as secure payment processing, shopping cart functionality, product catalog management, and order management. With these features, businesses can display their products, manage online transactions, and oversee the entire sales process from browsing to checkout.

In addition to these benefits, e-commerce platforms offer various features and tools to enhance the online shopping experience. These include customer relationship management (CRM), inventory management, marketing and promotional tools, analytics and reporting, SEO optimization, and third-party applications and services integration.

E-commerce platforms are available in two different types: hosted and self-hosted. A third-party vendor manages hosted platforms, while self-hosted platforms offer businesses more control and allow them to host the software on their servers. Both options have advantages and considerations regarding cost, customization, scalability, and technical expertise.

Overall, an e-commerce platform is necessary for any business looking to establish and grow their online presence. With its capabilities, companies can streamline their sales processes, provide exceptional shopping experiences for customers, and ultimately drive growth and revenue in the digital world.

Determine your e-commerce needs

One crucial in choosing the right e-commerce platform and setting up a successful online store for your business is determining its e-commerce needs. It means looking at your business's needs, goals, and priorities to effectively decide what features and functions you need to sell goods or services online. Here are some essential things to think about when figuring out what your company needs from e-commerce:

Product and inventory: Figure out your items or services and how many of them you have. Consider how extensive your catalog is, how many different kinds of products you have, whether your products are digital or physical, and how you want to handle your inventory. Find out if you need tools like product categorization, search, stock tracking, and managing back orders.

Payment and security:

• Think about how you want to handle payments.
• Find the payment gateways you want to use and think about security steps like SSL encryption, PCI compliance, and preventing fraud.
• Find out if you need to accept more than one currency or payment method.

Customization and branding:

• Consider how much you want to change your online store.
• Consider whether you need many design choices to match your brand's style, make the user experience unique, and add custom features.
• Check how flexible the e-commerce platform is regarding templates, themes, and layout changes.

Scalability and growth:

• Think about your company's future growth plans and scalability requirements.
• As your business grows, consider whether the platform can handle more traffic, handle more products, and support more features.
• Check how well the platform works, how stable it is, and how well it can take many activities simultaneously.

Integration and third-party tools:

• Figure out how well the platform can work with other systems and third-party tools.
• Find out if you need your CRM, budgeting, shipping, or marketing tools to work together.
• Consider whether APIs are available and how easily connecting to other services is.

Mobile responsiveness: In today's mobile-driven world, ensure the e-commerce app is easy to use on a mobile device. Think about whether the platform has choices for responsive design or mobile app development to serve customers who shop on their phones or tablets.

Analytics and reporting:

• Look at the analytics and reporting tools that come with the platform.
• Find out if it gives you important information like sales reports, customer behavior data, conversion tracking, and marketing success metrics.
• Think about whether you need more analytics tools or the ability to connect with analytics systems from other companies.

Support and resources: Determine how much help and help you can get from the e-commerce tool. Consider whether they give technical support, documentation, training tools, and a community or user forum where people can help each other.

By carefully weighing these factors and matching them to the needs of your business, you can figure out what essential features and functions are for an e-commerce platform. This process will help you choose an e-commerce option that fits your business goals, improves the customer experience, and helps your business succeed online.

What is your digital maturity level within the organization?

The digital maturity level within an organization refers to its ability to effectively leverage digital technologies, processes, and strategies to achieve its business goals and stay competitive in the digital landscape. It involves assessing the organization's current digital capabilities and understanding how digital technologies are integrated into its operations.

Digital maturity level is the ability to effectively leverage digital technologies, processes, and strategies to achieve business goals.

To evaluate your organization's digital maturity level, you must assess how you currently work and operate in the digital realm. Here are some key aspects to consider:

Digital strategy: Determine if your organization has a clear digital strategy. This includes defining your goals and objectives for digital transformation, identifying target markets and customer segments, and outlining the roadmap for implementing digital initiatives.

Leadership and governance: Assess the involvement and commitment of leadership in driving digital transformation. Determine if a dedicated team oversees digital initiatives, ensures alignment with the overall business strategy, and establishes governance processes to monitor and guide digital projects.

Technology infrastructure: Evaluate the existing technology infrastructure and systems within your organization. Consider your current IT systems, software applications, data management processes, and integration capabilities. Assess if you have the tools and infrastructure to support digital initiatives effectively.

Customer experience: examine how you engage with customers in the digital space. Evaluate your website, mobile applications, social media presence, and other digital touchpoints. Consider if you provide a seamless and personalized customer experience across multiple channels and if you leverage data to understand customer behavior and preferences.

Data-driven decision-making: Assess how you collect, analyze, and utilize data within your organization. Determine if you have processes to capture and analyze relevant data, extract meaningful insights, and use them to inform decision-making, improve operations, and enhance customer experiences.

Digital marketing and communication: Evaluate your digital marketing and communication strategies. Consider if you have a well-defined online marketing presence, including search engine optimization (SEO), social media marketing, email marketing, and content creation. Assess if you have mechanisms in place to measure the effectiveness of your digital marketing efforts.

Talent and skills: Assess the digital skills and capabilities of your workforce. Determine if you have the right talent to drive digital initiatives, develop and implement digital strategies, and effectively utilize digital tools and technologies. Consider if there are opportunities for upskilling or recruiting digital experts to enhance your capabilities.

Collaboration and agility: Evaluate how your organization fosters collaboration and embraces agility in the digital space. Determine if you have processes and tools for cross-functional collaboration, agile project management, rapid experimentation, and innovation.

You can gain insights into your current digital maturity level by assessing your organization's digital operations. This understanding will help you identify areas for improvement, prioritize digital initiatives, and develop a roadmap for advancing your organization's digital capabilities.

Why do you need an e-commerce platform?

In today's digital age, businesses that wish to succeed online must have an e-commerce platform. It is no longer an option. With an increasing number of customers preferring the convenience of online shopping, e-commerce enables businesses to reach a larger audience, increase their sales potential, and improve their operations. Having an e-commerce platform is a crucial component of a successful online strategy for businesses of all sizes. Here are some of the most important reasons you need an e-commerce platform:

An e-commerce platform enables you to reach customers beyond your physical location or local market. It allows you to sell to customers globally, increasing your potential customer base and sales opportunities.

Unlike a physical store with limited hours of operation, an e-commerce platform provides round-the-clock access to your products or services. Customers can browse and make purchases at their leisure, increasing the likelihood of conversions and revenue generation.

Increased sales potential: An e-commerce platform enables you to showcase various products or services and implement effective sales strategies, such as cross-selling and upselling, thereby increasing your sales potential. In addition, with features such as personalized recommendations and targeted promotions, you can improve your customers' shopping experience and increase your sales.

The operation of an e-commerce platform can be more cost-effective than a physical store. You can avoid costs associated with rent, utilities, and personnel. In addition, e-commerce platforms offer automation features that streamline processes such as inventory management, order fulfillment, and customer support, thereby reducing manual labor and operational expenses.

It allows businesses to reach customers beyond their physical location, sell to customers globally, provide round-the-clock access to products or services, and implement effective sales strategies. 

Flexibility and scalability: An e-commerce platform offers the flexibility to adapt to shifting market trends and customer requirements. You can easily modify product information, pricing, and promotions, allowing for swift adjustments to maintain a competitive edge. In addition, an e-commerce platform allows for seamless scalability, accommodating increased traffic and transactions without significant disruptions as your business grows.

Insights derived from data: E-commerce platforms offer valuable data and analytics regarding customer behavior, purchase patterns, and performance metrics. These insights can assist you in making intelligent decisions regarding inventory management, marketing strategies, and customer segmentation. Using data, you can optimize your operations, customize your customers' experiences, and generate better business outcomes.

Possibilities for integration: An e-commerce platform can integrate with other vital business systems, such as customer relationship management (CRM), inventory management, and payment gateways. This integration streamlines processes, improves data precision, and increases overall productivity.

In today's digital landscape, it is essential to have an e-commerce presence to maintain a competitive advantage. Customers increasingly favor the convenience of online shopping, and businesses need an e-commerce platform to gain opportunities and gain market share with rivals who have embraced digital channels.

An e-commerce platform enables businesses to establish an online presence, extend their reach, increase sales, optimize operations, and gain a competitive edge in the digital marketplace. It provides the tools and capabilities necessary to create a seamless and engaging online shopping experience for customers, fostering growth and success in the digital age.

Why is it crucial for your business to select the ideal eCommerce platform?

Selecting the optimal e-commerce platform is a vital decision for your business, as it can have a significant impact on your success and growth.

Meeting specific business requirements: Each business has its requirements and objectives. The optimal e-commerce platform ensures that your business requirements are effectively met. It must provide essential features and functionalities that align with your industry, product line, target market, and business model. Choosing an e-commerce platform that meets your requirements lays the groundwork for success.

Scalability and expansion: As your business grows, it is crucial to have an e-commerce platform to keep up. The optimal platform should accommodate increased traffic, transactions, and product catalogs without sacrificing performance or user experience. As your business evolves, it should support future integrations, customizations, and enhancements.

A seamless and intuitive online shopping experience is essential for attracting and retaining customers. The ideal e-commerce platform features user-friendly navigation, quick page loads, mobile responsiveness, and straightforward checkout procedures. By delivering an exceptional user experience, you can increase customer satisfaction, encourage repeat purchases, and strengthen customer loyalty.

An ideal e-commerce platform should provide robust marketing and sales tools that enable you to promote your products and convert site visitors into customers effectively. Consider capabilities such as search engine optimization (SEO), management of promotional campaigns, customer segmentation, personalized recommendations, and integration with popular marketing tools. These capabilities allow you to maximize your marketing efforts and sales opportunities.

Integration competencies: Integration with other essential business systems, such as inventory management, customer relationship management (CRM), payment gateways, and shipping companies, must be seamless for operations to run smoothly. The ideal e-commerce platform should provide simple integration options for streamlining processes, preventing data inconsistencies, and increasing productivity. This integration eliminates manual processes and enables centralized data administration.

E-commerce platforms handle sensitive customer information and financial transactions. It is essential to prioritize security and data protection to build customer trust. Consider an e-commerce platform that adheres to industry-standard security protocols and offers secure payment gateways, SSL certificates, and compliance with data protection regulations. Protecting customer information and providing a safe shopping environment is crucial to your business's reputation and customers' confidence.

Support and resources: Choosing an e-commerce platform with dependable technical support, documentation, and resources is essential. While managing your online store, you may encounter technical issues, require assistance with customization, or need help optimizing your e-commerce operations. The optimal platform should offer responsive customer support, a knowledge base, community forums, and regular platform updates to meet your needs effectively.

Choosing the optimal e-commerce platform is a long-term investment that directly impacts your business's success and growth. It enables you to provide exceptional customer experiences, streamline operations, drive sales, and remain competitive in the rapidly evolving digital marketplace. Choosing the most suitable platform allows you to position yourself for long-term success, scalability, and profitability.

What are the different kinds of platforms for eCommerce?

In recent years, the e-commerce industry has grown exponentially, and businesses now have access to a vast variety of platform options. Whether you are a small business or a multinational corporation, there is an e-commerce solution that can meet your specific business needs. Each platform type has its own advantages and nuances, ranging from hosted platforms to self-hosted solutions, open-source platforms to enterprise-level solutions. To select the most suitable e-commerce platform for your business, it is essential to evaluate your business's needs, including scalability requirements, budget, technical abilities, and desired level of control.

Here are some typical examples:

Hosted platforms are all-inclusive solutions in which the platform provider hosts your online store on its servers. Typically, they provide an intuitive interface, pre-built templates, and integrated features. The hosted platforms Shopify, BigCommerce, and Wix are examples.

Self-Hosted Platforms: You must host your online store on your server or through a third-party hosting provider. These platforms offer more customization options and control over the design and functionality of your website. WooCommerce (built on WordPress), Magento, and OpenCart are three of the most popular self-hosted platforms.

Enterprise-level platforms are designed for large organizations with complex requirements. These platforms provide superior functionality, scalability, and extensive personalization options. They frequently include services like dedicated support, enterprise system integrations, and advanced analytics. Optimizely, Commercetools, Salesforce Commerce Cloud, Adobe Commerce (formerly Magento Commerce), and Oracle Commerce are enterprise-level platforms.

Open-Source Platforms: Open-source platforms are free to use and provide users with access to and the ability to modify the source code. They provide adaptability, customization options, and a helpful developer community. However, they may require technical knowledge for installation and maintenance. Magento (Community Edition), PrestaShop, and Woocommerce are widely used open-source platforms.

Headless Commerce Platforms: Headless commerce platforms decouple the presentation layer of the front end from the e-commerce functionality of the back end. This architecture enables the delivery of content and commerce experiences across multiple channels, such as the web, mobile, voice assistants, and IoT devices, with flexibility. Headless platforms consist of commerce tools, Omnium, Commercetools, Contentful + Shopify, and Elastic Path.

Multiple sellers can list and sell their products on marketplace platforms. They provide a centralized platform for buyers to browse and purchase products from various sellers. Amazon, eBay, and Etsy are examples of marketplaces. Some e-commerce platforms include marketplace functionality among their features.

Custom-Built Platforms: Custom-built platforms are tailored to an organization's needs and requirements. They are created either from scratch or by utilizing existing frameworks and technologies. Custom-built platforms offer complete control over the features, design, and functionality but require substantial time, resources, and technical knowledge.

Each type of e-commerce platform has distinct benefits and nuances. It is essential to evaluate your business requirements, budget, technical capabilities, scalability requirements, and desired level of control to select the most suitable e-commerce platform for your business.

What distinguishes custom e-commerce solutions from ready-made platforms?

Businesses have two primary options for creating an online store: custom e-commerce solutions or pre-built platforms. Custom solutions are created from scratch or heavily modified to meet the specific needs of an organization. Pre-built platforms, on the other hand, include pre-designed templates, features, and functionalities, making them a simpler and faster option for businesses seeking to establish an online store. Choosing the proper e-commerce platform is crucial to the success of any online business, regardless of the option chosen.

Here are their primary distinctions:

Customized E-commerce Solutions:

Tailored to the unique requirements of a business, custom solutions are created from scratch or are highly modified to meet those requirements. They ultimately control the online store's design, functionality, and features.

Scalability and adaptability: Custom solutions can be designed to scale and accommodate changing business requirements. They enable greater integration flexibility with existing systems, third-party services, and future improvements.

Increased development costs and duration: Customizing an e-commerce solution requires additional time, resources, and knowledge. It necessitates constructing the entire infrastructure, including backend systems, frontend design, and integrations, which can increase the development cost.

Maintenance and support: With a custom solution, the business is responsible for ongoing maintenance, updates, and support. Continuous maintenance and upgrades may necessitate the involvement of a development team or technical expertise.

Greater control and ownership: Custom solutions provide complete control over the source code, data, and ownership of the e-commerce platform. Businesses are free to modify and optimize the platform as they see fit.

Pre-assembled platforms: Pre-built platforms have pre-designed templates, features, and functionalities. They offer a more effortless and quicker installation procedure.

Pre-built platforms typically have a lower initial cost than custom solutions because they include pre-packaged features and templates. Typically, they are offered via subscription or licensing.

Although pre-built platforms may offer some customization, they are limited compared to custom solutions. Businesses may be required to adhere to the platform's predefined features and templates.

Because they eliminate the need for extensive development from scratch, pre-built platforms have a quicker implementation time. Companies can quickly establish an online store and begin selling.

Platform maintenance and updates: The platform provider handles maintenance, security, and updates. They manage infrastructure, server maintenance, security patches, and platform updates, relieving the business of these duties.

The decision between custom e-commerce solutions and pre-built platforms depends on the organization's unique requirements, budget, timeline, and technical expertise. Custom solutions offer greater flexibility, control, and scalability but demand a more significant investment of time and resources. Prefabricated platforms offer convenience, faster deployment, and ongoing support, but they may need more customization and adaptability of custom-built platforms.

How do the needs for an e-commerce platform vary between large enterprises, medium businesses, and small businesses?

The e-commerce platform needs can vary depending on the size and scale of the company. Here's how the platform requirements differ between large enterprises, medium-sized businesses, and small companies:

Large Enterprises:

• Scalability: Large enterprises typically have a high volume of products, traffic, and complex operations. They require an e-commerce platform that can handle large-scale operations, accommodate significant growth, and support many concurrent users.
• Customization and Integration: Large enterprises often have unique business processes and require extensive customization and integration capabilities. They may have existing systems, such as ERP, CRM, or inventory management, that need to seamlessly integrate with the e-commerce platform.
• Advanced Features: Advanced features like multi-store management, advanced product catalogs, customer segmentation, personalized marketing, and complex pricing structures are essential for large enterprises. They need robust tools for analytics, reporting, and customer management.
• Security and Compliance: Large enterprises deal with sensitive customer data and must comply with industry regulations. They require robust security measures, including SSL encryption, PCI DSS compliance, and advanced user access controls.

Medium-Sized Businesses:

• Growth and Scalability: Medium-sized businesses aim to grow their online presence and expand their customer base. They require an e-commerce platform to scale with their growing needs and accommodate increased traffic and sales volumes.
• Flexibility and Customization: Medium-sized businesses often have specific branding and customization requirements. They need an e-commerce platform that offers flexible design options, customizable templates, and the ability to tailor the user experience to align with their brand.
• Marketing and SEO Tools: Effective marketing tools, SEO optimization features, and integration with popular marketing channels (such as email marketing or social media) are important for medium-sized businesses to attract and engage customers.
• Inventory and Order Management: Medium-sized businesses need efficient inventory management features, including real-time stock updates, order tracking, and fulfillment capabilities to streamline their operations.

Small Companies:

• Ease of Use and Affordability: Small companies typically have limited resources and technical expertise. They require an easy e-commerce platform to set up and manage without significant technical knowledge. Cost-effectiveness is also a crucial consideration.
• Basic Features: Small companies often start with a limited product range and focus on essential features such as product listings, shopping carts, payment gateways, and basic inventory management.
• Mobile Responsiveness: With the increasing use of mobile devices for online shopping, small companies need an e-commerce platform that provides mobile-responsive templates and a seamless mobile shopping experience.
• Support and Customer Service: Small businesses may rely on the platform provider for support and technical assistance. Access to responsive customer service and support resources is essential for resolving issues and ensuring smooth operations.
• Companies of all sizes need to evaluate their specific requirements, growth plans, budget, and available resources when choosing an e-commerce platform that best suits their needs.

Most important things to think about when choosing an ecommerce platform and what critical question you need to ask?

Choosing the appropriate e-commerce platform is essential for any business. It can have a substantial effect on the success of your online store and your capacity to expand and scale. It is crucial to consider the platform's features and capabilities, as well as its adaptability and scalability, in order to meet the specific requirements of your business. In addition, you should evaluate the platform's security, payment gateways, and SEO. Consider the platform's compatibility with your existing systems and third-party services. Taking the time to evaluate all of these factors and asking the right questions will assist you in selecting the most suitable e-commerce platform for your business.

Here are fifteen important considerations and questions to ask:

• Business requirements: Does the platform align with your organization's objectives and goals? Does it provide the required capabilities and features?
• Scalability: Can the platform accommodate your anticipated growth and increased traffic and transactions?
• Options for customization: How adaptable is the platform concerning design, layout, and branding? Can you modify the platform to meet your specific business requirements?
• Does the platform integrate with your inventory management, CRM, or ERP systems? It is compatible with third-party applications and services.
• Responsiveness to mobile devices: Is the platform optimized to provide a consistent user experience across various screen sizes?
• What security measures does the platform have to protect customer information and guarantee secure transactions? Does it comply with industry regulations and standards?
• Payment gateways: Does the platform support a variety of payment methods and popular gateways? Are international transactions and currencies supported?
• SEO optimization: Does the platform provide built-in SEO capabilities to enhance your online visibility and search engine rankings?
• Multichannel capabilities: Does the platform support selling on multiple channels, such as social media, online marketplaces, and physical stores?
• Analytics and reporting: Does the platform offer comprehensive analytics and reporting tools for tracking sales, customer behavior, and other crucial metrics?
• What level of customer support does the provider of the platform offer? Is it available 24/7? Are there fees associated with support services?
• User interface and usability: Is the platform intuitive and user-friendly for administrators and end users? Can you manage products, orders, and content with ease?
• Performance and velocity: How quick are the platform's loading and response times? Can it accommodate high volumes of traffic without compromising performance?
• Pricing and total ownership cost: What are the platform's up-front expenses, transaction fees, and ongoing expenses? Exist any hidden expenses to consider?
• Customer references and reviews: What do current users say about the platform? Can the vendor supply testimonials or case studies?

By considering these 15 factors and asking the pertinent questions associated with each, you can gather the information necessary to make an informed choice when choosing an e-commerce platform. Remember to prioritize your unique business requirements, scalability, security, personalization options, and cost-effectiveness.

What features are a must for a modern e-commerce platform?

When it comes to choosing an e-commerce platform, there are a few aspects that are necessary to take into consideration. Accessibility is one of these, as is the requirement for a user-friendly interface, which applies to administrators and customers. In addition, the platform needs to provide effective tools for product management, a streamlined shopping cart and checkout process, and integration with various popular payment gateways. Because more and more people are using mobile devices to shop online, the platform needs to be mobile-friendly. In addition, it should offer SEO features or integrate with SEO tools to increase organic traffic and search engine visibility. Tracking stock, managing product variants, dealing with backorders, and synchronizing inventories are all critically important tasks that require efficient inventory and order management features. The platform should have sophisticated tools for order management, customer management, analytics, reporting, marketing, promotional tools, etc. Protecting customer information and ensuring that financial transactions are carried out securely requires adherence to data protection laws and the use of security protocols and SSL certification. To boost productivity in areas such as customer relationship management (CRM), enterprise resource planning (ERP), email marketing (EM), and social media marketing (SMM), the platform should also be able to integrate without any problems with other applications. Scalability, which means supporting a growing number of products and features as well as traffic, is another essential component. In conclusion, it is vital to have responsive customer support to address and resolve any potential technical issues, questions, or frustrations that may emerge. Although the ideal e-commerce platform will be determined by the specific requirements of each company, considering the factors mentioned above will help make an informed decision.

What and how to avoid most common mistakes when choosing an ecommerce platform

It is crucial to be aware of typical mistakes organizations make when selecting an e-commerce platform and to take measures to prevent them. Some of the most typical errors and advice for avoiding them follow bellow.

Need for more research: If you take the time to learn about the various e-commerce platforms, you might choose one that doesn't work for your company. Research your options, compare platforms' features, read reviews, and ask knowledgeable people for recommendations.

Choosing a platform that can't keep up with your expanding business needs is a common mistake. Think about where you want to take your company in the future and ensure the platform can handle the anticipated growth in terms of users, products, and functionality.

Choosing a user-friendly platform that requires less technical expertise can boost your team's productivity and output. Opting for a system with a simple and intuitive interface and management tools is recommended.

Choosing a platform that cannot adapt to your needs and the ever-changing market demands is risky. Finding platforms that can be easily customized to match your business's identity and unique requirements is essential.

As more people shop on mobile devices, neglecting mobile responsiveness can lead to poor user experiences and lower sales. This platform provides a solution for creating a responsive design and a seamless mobile shopping experience.

You can only streamline operations or take advantage of additional functionalities if you think about integration capabilities with third-party tools. Check if the platform can communicate with your preferred payment processor, shipping company, and advertising platform.

Refraining from underestimating the importance of support and maintenance can lead to severe issues. This is especially true if you choose a platform without dependable customer support or fail to perform the necessary maintenance and updates. Focus on platforms that have a history of frequent updates and improvements and provide prompt responses to customer inquiries.

Neglecting the platform's security features and compliance with industry regulations can leave your company vulnerable to data breaches and harm its reputation. Verify that the platform complies with applicable data protection regulations and has robust security measures, such as an SSL certificate.

Before selecting an e-commerce platform, it is important to factor in the initial cost and ongoing expenses like customization, integration, maintenance, and transaction fees. To prevent any budgetary issues, it is necessary to calculate the total cost of ownership before making a decision.

Selecting a platform based on current requirements alone, without considering future needs, can result in the market for platform migration or expensive modifications down the road. Select a system that can develop alongside your company and accommodate any foreseeable changes.

If you are aware of these pitfalls and take measures to prevent them, you will be better equipped to choose an e-commerce platform that supports your business's long-term objectives.

What to think about and how to migrate to a new ecommerce platform?

To guarantee a smooth migration from an outdated to a modern e-commerce platform, careful planning and execution are crucial. The following critical factors must be considered, and the necessary steps must be followed during the transition process:

Assess your current platform: Start by evaluating your existing e-commerce platform to identify its limitations, shortcomings, and areas for improvement. This assessment will help you understand the specific requirements and goals of the new platform.

Define migration goals: Clearly define your objectives for the migration process. Are you aiming for improved performance, better user experience, increased scalability, or enhanced features? Establishing clear goals will guide your decision-making throughout the migration process.

Research and choose the new platform: Conduct a thorough investigation to identify potential e-commerce platforms that align with your requirements. Consider features, scalability, ease of use, customization options, integration capabilities, and ongoing support. Narrow down your options to a few platforms that best suit your needs.

Develop a migration plan: Create a detailed plan outlining the process, including key milestones, tasks, and timelines. Identify potential challenges and develop contingency plans to address them. Assign responsibilities to team members and ensure everyone understands their roles and tasks.

Data migration: Determine how you will migrate your existing data to the new platform. This includes product information, customer data, order history, and other relevant data. Ensure the new platform supports data migration and offers tools or services to facilitate the process. Test the data migration process thoroughly to ensure data integrity and accuracy.

Design and customization: Plan the design and customization of your new e-commerce platform. Take the opportunity to enhance the user interface, improve branding, and optimize the user experience. Consider engaging a web designer or developer to ensure a professional and visually appealing storefront.

Test and quality assurance: Before fully launching the new platform, conduct comprehensive testing to identify and fix any bugs, issues, or compatibility problems. Test the functionality, performance, and user experience across different devices and browsers. Perform thorough quality assurance to ensure a seamless and error-free migration.

Plan for downtime: During the migration process, downtime may be when your website is temporarily unavailable. Communicate this downtime to your customers in advance and ensure you have a backup plan to minimize any negative impact on sales and customer experience.

Implement redirects and SEO considerations: Set up proper redirects from the old platform to the new one to preserve your website's SEO rankings and traffic. Update your sitemap and notify search engines of the migration. Implement SEO best practices to maintain or improve your search engine rankings on the new platform.

Train your team: Provide training and support to your team members on how to use the new e-commerce platform effectively. Familiarize them with the features, administration tools, and processes. Ensure they understand how to manage products, process orders, and provide customer support on the new platform.

After the migration is done and your new platform is up and running, it's important to keep a close eye on its performance and user feedback. Analyze user behavior, customer feedback, and analytics to optimize the platform. This will help improve conversion rates, user experience, and overall business performance.

Transitioning to a new e-commerce platform can be a challenging process. However, with careful planning, thorough testing, and strategic execution, it's possible to successfully migrate to a new platform that better aligns with your business needs and goals.

How to make sure to set a budget according to your true needs

When choosing a new e-commerce platform, ensuring that your budget aligns with your actual needs is crucial. Here are some steps to help you achieve that:

Define your requirements: Define your business requirements for the new e-commerce platform. Consider factors such as the size of your product catalog, expected website traffic, desired functionality, integration needs, customization requirements, and scalability. Document these requirements to serve as a foundation for your budgeting process.

Prioritize your needs: Once you have identified your requirements, prioritize them based on their importance to your business. Categorize them into "must-haves" and "nice-to-haves." This will help you focus on the essential features and functionalities that align with your budget.

Research pricing models: Explore different e-commerce platforms and their pricing models. Understand how they charge for their services, whether it's a monthly subscription, transaction fees, or based on the volume of sales. Some platforms offer tiered pricing plans that provide different features at varying costs. Analyze these pricing models to best fit your budget and needs.

When deciding on an e-commerce platform, it's important to not only think about your immediate budget but also the long-term costs. This includes expenses like hosting, maintenance, support, upgrades, and any additional integrations or plugins you may need. It's crucial to have a complete understanding of the total cost of ownership over time.

Seek vendor transparency: When engaging with e-commerce platform providers, request detailed pricing information and ensure transparency. Ask for a breakdown of costs and inquire about any potential additional expenses or hidden fees. It's essential to clearly understand what is included in the pricing and what might incur extra costs.

Get multiple quotes: Request quotes from various e-commerce platform providers that meet your requirements. This will allow you to compare prices and services offered. Don't solely focus on the price, but also consider the value and features each platform provides.

Explore scalability options: Consider your business's growth potential and evaluate the scalability options the e-commerce platforms provide. Determine if the platform can accommodate future expansion without requiring significant investments or migrations to other platforms. Scalability ensures your platform can grow with your business without exceeding your budget.

Seek expert advice: If you need clarification on budgeting for an e-commerce platform, seek advice from industry experts or consultants specializing in e-commerce solutions. They can provide insights into best practices and cost-saving strategies and help you make informed decisions aligned with your budget and requirements.

Test and evaluate: Before committing to a specific platform, take advantage of free trials or demo versions offered by providers. Test the platform's functionality, user-friendliness, and suitability for your business. This will help you assess if the platform justifies the cost and meets your needs before making a financial commitment.

Following these steps, you can ensure that your budget reflects your needs when selecting a new e-commerce platform. It will help you make an informed decision that aligns with your business goals and financial resources.

Research, evaluate, and test the ecommerce solutions and platforms that best suit your organization.

Researching, evaluating, and trying out e-commerce solutions/platforms is critical in finding the best fit for your company. Here are some steps to help you through this process:

Define your requirements: Start by clearly defining your business requirements and objectives. Consider factors such as the size of your business, product range, target market, desired features and functionalities, integration needs, scalability, budget, and any specific industry requirements.

Conduct market research: Research the e-commerce solution market to identify potential platforms that align with your requirements. Look for platforms with a good reputation, positive customer reviews, and a strong track record. Consider factors such as platform features, scalability, ease of use, customer support, security, and pricing.

Seek recommendations and references: Reach out to industry peers, colleagues, and business networks for recommendations on e-commerce platforms they have used or are currently using. Ask for their feedback and insights regarding the pros and cons of the platforms they recommend. Additionally, request references from the e-commerce platform providers to speak with their existing clients and learn about their experiences.

Evaluate platform features: Create a checklist of essential features and functionalities that your business requires. Evaluate each platform based on these criteria. Look for features such as inventory management, payment gateways, shipping options, mobile responsiveness, SEO capabilities, marketing tools, analytics, and reporting. Consider how well each platform can meet your specific needs.

Consider integration capabilities: Assess the integration capabilities of each platform. Determine if it can seamlessly integrate with your existing systems, such as your CRM, ERP, or accounting software. Check if the platform supports the necessary APIs and has a robust ecosystem of third-party integrations.

Assess scalability and flexibility: Consider your business's growth potential and evaluate if the e-commerce platform can scale alongside your business. Determine if the platform allows for easy customization and expansion as your needs evolve. A flexible platform will enable you to adapt to changing market conditions and customer demands.

Review pricing and total cost of ownership: Analyze the pricing structure of each e-commerce platform. Compare the costs based on setup fees, transaction fees, monthly subscriptions, additional feature costs, and any other potential expenses. Consider the total cost of ownership, including ongoing maintenance, support, and upgrade costs, to ensure it aligns with your budget.

Take advantage of demos and trials: Many e-commerce platforms offer demos, trials, or free versions. Take advantage of these opportunities to test the platforms firsthand. Create test scenarios to assess the user interface, ease of use, navigation, and overall user experience. Evaluate how well the platform meets your specific requirements and if it aligns with your business processes.

Seek feedback and reviews: Read user reviews, testimonials, and case studies to gain insights into other businesses' experiences using the platforms you are considering. Look for feedback on performance, customer support, reliability, and overall satisfaction.

Engage with sales representatives: Contact the sales representatives of shortlisted e-commerce platforms to address any questions or concerns. Seek clarification on pricing, support options, implementation processes, and other relevant details. Engaging with the sales team can provide valuable insights into the platform and its suitability for your business.

Seek expert advice if needed: If you are still determining or are overwhelmed by the selection process, consider consulting with e-commerce experts, consultants, or agencies. They can provide objective guidance, conduct in-depth evaluations, and assist in selecting the best platform for your needs.

Make an informed decision: Based on your research, evaluations, and trials, narrow your options to a shortlist of platforms that best fit your requirements, budget, and growth plans. Compare the pros and cons of each platform and consider the feedback received. Finally, make an informed decision by selecting the e-commerce platform that aligns most closely with your business goals and objectives.

By following these steps, you can thoroughly research, evaluate, and try out e-commerce solutions/platforms to find the one that best fits your company's needs. It will help you make an informed decision and set a strong foundation for your e-commerce success.

Consider seeking assistance from an e-commerce expert

Seeking assistance from an e-commerce expert can be highly beneficial when choosing a new e-commerce platform. Here's a guide on how to engage with an e-commerce expert effectively:

Identify your specific needs: Before approaching an e-commerce expert, clearly define your business requirements, objectives, and challenges for selecting an e-commerce platform. Understand what areas you need assistance with and what expertise you are seeking.

Research and shortlist experts: Research to find reputable e-commerce experts specializing in platform selection and implementation. Look for individuals or agencies with relevant experience, positive reviews, and a proven track record in the e-commerce industry.

Evaluate expertise and experience: Assess the expertise and understanding of the e-commerce experts you have shortlisted. Review their portfolios, case studies, client testimonials, and industry recognition to gauge their knowledge and capabilities.

Schedule consultations: Reach out to the selected e-commerce experts and schedule consultations or discovery calls. During these interactions, explain your business requirements and challenges and seek their insights and recommendations. Prepare a list of questions to ask, including their approach to platform selection, their experience with different platforms, and how they can add value to your specific situation.

Discuss project scope and timeline: Communicate the scope of your project and the expected timeline to the e-commerce expert. Ensure they clearly understand your goals, budget, and any specific industry regulations or requirements that need to be considered.

Request a proposal: Ask the e-commerce expert to provide a detailed proposal that outlines their recommended approach, deliverables, timeline, and cost structure. The proposal should address your needs and showcase how they plan to help you select the ideal e-commerce platform.

Evaluate compatibility: Assess the compatibility between your business and the e-commerce expert. Consider their communication style, responsiveness, willingness to understand your unique needs, and ability to work collaboratively with your team.

Consider the cost: Evaluate the cost of engaging an e-commerce expert against the value they can provide. Consider both their expertise's short-term and long-term benefits and weigh them against the associated costs.

Review references and past clients: Request references from the e-commerce expert and reach out to their past clients to gather feedback on their performance, professionalism, and ability to deliver results. This will give you valuable insights into their working style and client satisfaction.

Make a decision: Based on your evaluations, select the e-commerce expert who best aligns with your requirements, budget, and company culture. Communicate your decision and move forward with the chosen expert to collaborate.

Working with an e-commerce expert can streamline the platform selection process, provide valuable insights, and increase your chances of making the right decision. Their expertise and guidance can help you find the ideal e-commerce platform that meets your business needs and contributes to your long-term success.

Conclusion

E-commerce platforms are essential for B2B companies to meet business buyers' demands. They provide a robust software system to manage online sales and transactions and can be tailored to specific industries or offer a general-purpose solution. To ensure success, B2B companies should explore different options and choose the platform that aligns with their requirements. The capacity to enable anytime, anywhere purchases, give real-time order tracking, and retain clients through digital loyalty programs are now considered baseline standards for B2B enterprises to prosper. European B2B companies are putting more effort into eCommerce and self-service, and the benefits of digitalizing sales for B2B companies are clear.

13% of the companies surveyed plan to increase their investments in digital commerce to fight the recession, while only 4% plan to cut back on these investments, while 72% plan to keep making the investments they had planned in digital sales enablement. Nordic B2B companies are putting in extra work to learn more about their customers' journeys so they can make their digital services fit their needs.

The need for an e-commerce platform can vary depending on the size and scale of the company. Large enterprises require a platform that can handle large-scale operations, accommodate significant growth, and support many concurrent users. They also require customization and integration capabilities, advanced features like multi-store management, advanced product catalogs, customer segmentation, personalized marketing, complex pricing structures, and security and compliance measures. Medium-sized businesses need an e-commerce platform to scale with their growing needs and accommodate increased traffic and sales volumes, as well as flexibility and customization. Small companies need an e-commerce platform that offers flexible design options, customizable templates, and the ability to tailor the user experience to align with their brand.

Effective marketing tools, SEO optimization features, and integration with popular marketing channels are important for medium-sized businesses to attract and engage customers. Inventory and Order Management features, such as real-time stock updates, order tracking, and fulfillment capabilities, are essential for small companies. Basic features such as product listings, shopping carts, payment gateways, and basic inventory management are necessary for small companies. Mobile responsiveness, support, and customer service are also crucial for small companies. Companies of all sizes must evaluate their specific requirements, growth plans, budgets, and available resources when choosing an e-commerce platform.

When selecting an e-commerce platform, several important considerations and questions exist. These include business requirements, scalability, customization options, mobile device responsiveness, security measures, payment gateways, SEO optimization, multichannel capabilities, analytics and reporting, user interface and usability, performance and velocity, pricing and total ownership cost, and customer references and reviews. By considering these 15 factors and asking the pertinent questions associated with each, businesses can gather the information necessary to make an informed choice when choosing an e-commerce platform. Additionally, features should be prioritized when making a final decision, considering unique business requirements, scalability, security, personalization options, and cost-effectiveness. E-commerce platforms should be accessible, powerful, mobile-friendly, have SEO features, order management, customer support, and scale with the business.

Product management should offer powerful tools for adding, editing, categorizing, and displaying products. The platform should also allow for integrating widely used payment gateways, be mobile-friendly, and incorporate SEO features. Order management should provide advanced tools for managing orders, while management of customers should include keeping track of their accounts and orders, tailoring their experience, and answering their questions. Security protocols, SSL certification, and adherence to data protection laws are essential for protecting sensitive customer information. Integrating with other applications and scaling with the business is also crucial for success.

This document provides advice on how to avoid common mistakes when selecting an e-commerce platform. Researching your options, comparing platforms' features, reading reviews, and asking knowledgeable people for recommendations are essential. Choosing a platform that can't keep up with the expanding business needs is a common mistake. Choosing a user-friendly platform that requires less technical expertise is recommended. Choosing a platform that cannot adapt to your needs and the ever-changing market demands is risky.

Mobile responsiveness is essential for creating a responsive design and seamless shopping experience. Integrating capabilities with third-party tools and focusing on platforms with frequent updates and improvements is also recommended. The most important details of how to migrate to a new e-commerce platform are to assess your current platform, define migration goals, research and choose the new platform, develop a migration plan, data migration, design and customization, test and quality assurance, plan for downtime, implement redirects and SEO considerations, train your team, analyze user behavior, customer feedback, and analytics, and set a budget according to your actual needs. To ensure a smooth migration from an outdated to a modern e-commerce platform, careful planning and execution are crucial, and the necessary steps must be followed during the transition process, including assessing your current platform, prioritizing your needs, researching pricing models, getting multiple quotes, exploring scalability options, seeking expert advice, testing and evaluating the e-commerce solutions/platforms, and making an informed decision. Seeking assistance from an e-commerce expert can be highly beneficial when choosing a new e-commerce platform.

I'm biased, but digital commerce is becoming increasingly complicated as competition grows. You can take advantage of enormous opportunities if you take the necessary steps, and it is always a good idea to have experts on your side to ensure the success of your venture.

At Knowit Experience, we have e-commerce specialists who can assist you with your strategy. Contact me immediately to find out how I can help you make your next e-commerce step a hassle-free reality.