The pace of technological change can be overwhelming, as it feels sometimes like there’s one new paradigm shift after another. For retailers, moving their products to the internet was a major change, but now many are only online.
If you have a digitally native vertical business (DNVB), getting the right ecommerce platform will give you all the tools you need to keep up with the changes and grow your business securely. Here are four things a world-class ecommerce platform can do for your DNVB.
Predictability
The best ecommerce platforms have powerful tools for online subscription-based businesses. Today, many companies sell services and products which are delivered at regular intervals.
Customers agree to make a weekly or monthly transaction ahead of time, which makes for one stream of revenue which is very predictable. This makes it easy to get consistent, reliable sales.
The best software for subscription businesses has specifically designed features that cater to ecommerce subscription needs. In one example, rebilling features proactively ensure billing information is accurate and up to date. This way, the consumer is spared a hassle, and the ongoing sale can continue smoothly.
Smart Data
Everyone knows data is crucial in business and ecommerce, but you need an ecommerce platform that gives you the most relevant data in a way that’s clear and easy to understand. These insights are required to form a strategy and keep revenue high.
Expect the ecommerce platform you choose to offer over 20 different views into the trends of your business that let you grasp your overall economic health, as well as the customer lifecycle.
Track monthly recurring revenue, profits and loss, rebill rates, active subscription forecasting, cycle analysis, and more in real-time.
Protection
The ecommerce market is too valuable for companies to ignore, but unfortunately, fraud is rampant on the internet. The best ecommerce platforms screen all your transactions in advance, to prevent fraud from occurring before it drains money and time from your business.
For an important double filter, the ecommerce platform’s personalized security specialists should be complemented by a partnership with other industry leaders in preventing online fraud. When you use two layers of security, you’ll see order acceptance rates go up and chargebacks go down in no time.
Many Third-Party Integrations
Finally, the best ecommerce platforms are designed to be modular rather than proprietary: it’s extremely easy to link up with third parties that boost your business and keep it secure and connected.
The internet is all about openness. Your company shouldn’t have to worry about compatibility between it and other payment gateways, fulfillment centers, email marketing, affiliate marketing, call centers, membership services, and more.
Stay versatile and flexible with a platform that keeps you connected with leaders across the value chain.
You don’t need to be anxious about keeping up with the pace of technology when you have the right support driving your business. Get an ecommerce platform with turnkey solutions for your business, and sales will grow steadily and securely.
