Ecommerce Migration- Is it the right time
What hurts the most in the rapidly evolving ecommerce landscape?
Low sales, right?
But what if you have just the right strategies and plans in place but these plans are constrained and hindered by an outdated and inefficient platform?
That calls for a real “Ouch!” and needs a potent remedy- Ecommerce Replatforming.
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Why enterprise ecommerce brands should consider ecommerce migration
Driven by new technology breakthroughs, business partnerships and customer demands, Ecommerce is going through a transformative phase.
Winning customers is no longer enough. Keeping your customers is where the battle begins. And we bet, “Customer is King” is the story of the past era. In his latest avatar, the customer is the “Creator” and the “Annihilator”!
And if your ecommerce platform is not equipped with the tools to keep your buyers happy- it is the right time to consider ecommerce migration.
Attuned with what’s needed to keep your customer happy, right?
Nevertheless, let’s do a recap of how modern buyer habits are shaping up:
Ecommerce Trends and Buying Habits
- $ 8.1 trillion is the forecasted value of retail sales by 2026
- 56% growth in global ecommerce retail sales from 2021 to 2026
- 24% of retail purchases will be done online by 2026
- 57% of online shoppers opt for cross-border ecommerce
- 79% of shoppers shop online at least once a month
- 91% buyers begin their ecommerce journey on mobile phones
- 80% of shoppers are more likely to buy from a brand that gives personalized experiences
- 4-6 sales channels are surveyed by buyers before making a purchase
Source: Forbes, Statista
Well, the buyers certainly are asking their brands to be more interactive, personalized and available on multiple channels. And if your ecommerce solutions are consistently failing to align your brand with these requirements, it is time to go for an ecommerce platform migration.
In this guide, we will explore the top signs that point towards an eminent need for switching to a new ecommerce solution that prepares your brand for growth in the age of omnichannel ecommerce.
When is the time for enterprise brands to go with ecommerce platform migration
Even if you have the best products, competitive prices and great discounts, your sales might start slowing down if your ecommerce platform is not designed to cope with the demands of your buyers.
7 things that point towards ecommerce platform migration
Here is a list of the top 7 signs that indicate a need for ecommerce migration:
Poor Website Performance
The first thing that draws your attention towards the need for ecommerce migration is the poor performance of your site and the growing dissatisfaction of your buyers. A drop in conversions and an increase in bounce rate and abandoned carts should be the first indicators of a poorly performing business.
Check out some stats on site performance:
- 7% drop in conversion rate due to a 1-second drop in page load time
- 11% page view drop due to a 1-second delay in page loading time
- 16% drop in customer satisfaction due to a 1-second delay in page speed
- 70% of customers admit page speed determines their willingness to buy from a brand
- 57% users will abandon carts if your ecommerce website takes more than 3 seconds to load
Source: Hubspot, Envisage Digital
If you do the maths on all these figures taking your total revenue, you would realize what a massive opportunity you are losing. And if your current ecommerce solution provider is not able to fix your site speed issues, it is time to consider ecommerce platform migration seriously.
Slow-loading sites are a major reason for negative user experience which eventually pushes buyers towards your competitors. There could be a number of reasons for poor website performance which range from unresponsive designs, outdated technology, and limited scalability to poor site architecture.
To fix these issues you need to consider ecommerce replatforming to a modern enterprise ecommerce platform like StoreHippo. Built on next-gen technology StoreHippo ensures high-performance stores that engage, retain and convert buyers by giving them an immersive experience.
StoreHippo comes with responsive design themes that offer the best buying experience irrespective of device and screen size. With a built-in abandoned cart follow-up tool StoreHippo makes it easy for brands to automate incomplete order follow ups.
Ecommerce migration to storehippo also enables enterprise brands to create engaging landing pages and website themes quickly using the built-in design tools that create WOW stores without heavy coding.
Limited Scalability
Ecommerce growth calls for scaling, scaling at speed to be precise.
If your business is struggling to scale because of the limited capabilities of your ecommerce platform you are missing out on a lot of opportunities. Here is how limited scalability stifles your growth:
- You miss on sales opportunities as your platform fails to handle high volume traffic during peak season
- Your enterprise marketplace is not able to handle, manage and display sellers and their inventories resulting in inventory discrepancies, overselling or stockouts
- Your horizontal growth to new locations, product lines, channels is restricted
- Introducing new features and functionality is difficult and time-taking
- Your ecommerce platform requires frequent manual intervention and upgrades resulting in increased operational costs
Recognizing these limitations and proactively considering ecommerce platform migration to a scalable and flexible enterprise ecommerce platform like Storehippo can do away with your woes.
Built on cloud-native SaaS model, StoreHippo is inherently scalable and designed for peak load tolerance. The ecommerce stores powered by StoreHippo perform at top-speed even if you scale to millions of users, products or vendors. The elastic scalability of the platform ensures that your buyers get a seamless buying experience all the time.
Ecommerce replatforming to a future-ready enterprise ecommerce platform like StoreHippo can unlock growth potential, improve customer experience, and enable your business to thrive in a rapidly evolving digital landscape.
Cumbersome Customizations
Ecommerce landscape is changing at a breakneck speed. To cope with the market dynamics and customer demands your business needs to be powered by agile ecommerce solutions that are flexible enough to accommodate quick customizations.
Ecommerce migration becomes inevitable if your marketing and growth plans are constantly getting hindered due to complex customizations. Imagine that you are planning to run a marketing campaign and it takes ages to implement different types of discount offers and landing pages for your different buyer segments. Or maybe you want to enter a new geography and need some tweaks in the order flow for that given region. If it takes weeks or months to implement the changes, your business will lose to competitors.
Cumbersome customizations that do not align with your long-term business goals indicate it is time to go for ecommerce platform migration. StoreHippo is built on the decoupled headless platform making it easy for enterprise brands to build tailored ecommerce solutions that align with evolving business needs.
StoreHippo’s DIY, auto-upgradable platform comes with 300+ built-in enterprise-grade features and tools for diverse business needs. It also keeps adding advanced features based on evolving market trends. The low-code platform is ideal for customizations and is well-suited for novice-users as well as heavy duty programming. Ecommerce platform migration to StoreHippo makes it easy for enterprise brands to race ahead of competition and design their own ecommerce ecosystem.
Limited scope for Personalization
We live in an era of hyper-personalization. And if your current ecommerce solution is limiting you from implementing multi-level personalization, it is time for ecommerce migration.
Wonder why you should personalize your ecommerce website?
- 90% of buyers say personalization is desirable
- 80% of buyers are more inclined to do business with brands that deliver tailored experiences
- 91% of consumers are more likely to shop with brands that recognize, remember, and provide relevant offers and recommendations
Source: Epsilon, Accenture
Industry insights are clearly showing how important personalization is for your business. You can no longer build one-size-fits-all buyer journeys or do with a dash of personalized emails once in a while. If crafting personalized experiences translates to sending out emails with customer names only, your brand is in dire need of ecommerce migration.
Customers are demanding and brands are ready to bend backwards to offer personalized experiences to retain customers. From customer-segment-specific landing pages to options for choosing their preferred language, currency, payment and delivery options etc. you need to master it all. And yes, add personalized branding and discounts to that.
Ecommerce replatforming to StoreHippo enables you to implement all of the above. With its native multilingual and multi-currency solutions you can build multilingual websites where buyers can pay in their preferred currencies. You can build dynamic marketing pages on the fly and send personalized discounts and coupons using the powerful discount engine. With 60+ pre-integrated payment gateways and 30+ shipping solutions, you can take personalisation to a whole new level with a simple act of ecommerce migration.
You can also build a strong brand with a built-in blog engine that helps you publish articles to target different audience segments. You can also integrate with a variety of marketing software to enhance personalization. With StoreHippo’s headless, API-based architecture building personalized buyer journeys is a breeze.
Difficulty Pivoting to New Business Models
With Ecommerce breaking all established records and rules of business, it is time to think out-of-box for enterprise brands. Business models are no longer binary, i.e. B2B or B2C. Modern market dynamics call for experimentation and working out new, disruptive business models that give your brand a winning edge.
Ecommerce migration becomes a necessity if your current platform is designed to support traditional business models and restricts you from combining business models. If the flows and processes are not aligned with new and upcoming ecommerce trends your operations and customer satisfaction will eventually get hindered.
The limited feature sets and support for just a few business models on your ecommerce platform can severely impair your brand’s growth plans. If you have been struggling to experiment with a new business model, it is a clear indication that you should go for ecommerce replatforming.
Pivoting to new business models is a strategic move that ensures the long-term viability and growth of your business. By migrating to StoreHippo you can future-proof your business with its advanced ecommerce solutions.
StoreHippo comes with plug-and-play solutions for B2B, D2C, B2C, B2B2C, hyperlocal ecommerce, marketplace websites, multi-store ecommerce networks and many other popular business models. By going for an ecommerce platform migration to StoreHippo you can create your own business model and position your brand for disruptive growth.
Difficult Integrations
Wonder why you should be considering ecommerce replatforming if you are having difficulty integrating with your preferred solutions and services?
Let us understand.
We are living in times where every aspect of your business has to be top-notch. But can you imagine doing everything on your own for your business, like building the website from scratch to developing the marketing and order management tools, building your own payment solutions, creating your own logistics and fulfilment network and other solutions needed for your day-to-day business?
This kind of business set-up is IMPOSSIBLE to build, to say the least.
That is why we need integrations, so our business can integrate the best-in-breed solutions and service providers to create a stellar ecommerce solution. If your ecommerce platform struggles to integrate with a variety of solutions, ecommerce migration should be your top priority.
If your current enterprise ecommerce platform lacks robust APIs or pre-integrated solutions for popular third-party applications and services, it can impede your ability to leverage new technologies, marketing tools, CRM, accounting solutions, payment gateways, or shipping providers.
Ecommerce replatforming can provide access to an ecosystem of integrations, simplifying the process and expanding your possibilities. StoreHippo comes with 120+ pre-integrated solutions and with its 300+ API endpoints integrating with the software and solution provider of your choice is easy and quick.
Lack of business insights and reports
To run your business well and to have a nuanced understanding of your growth strategies you need extensive reports that give you an accurate picture and a detailed insight of your business through various reports.
If your current ecommerce platform fails to give you a bird’s eye view of your business through reports and analytics, it is hindering your ability to make informed decisions, optimize your operations, and drive growth.
Ecommerce migration becomes an absolute must if you are not getting visibility into key business metrics, such as sales performance, customer behavior, or inventory levels. It becomes difficult to plan strategic growth if your current platform lacks the capabilities to track your key business metrics and present an analysis and report for the same.
By ecommerce replatforming to StoreHippo, you get access to a powerful reporting engine that gives you a detailed view of your key business metrics like best selling products, order summary, top customers sales by location, financial status, shipping status, return status etc. You can also integrate with powerful analytics tools like Google Analytics or go with analytics tools of your choice.
By migrating to StoreHippo and having access to detailed reports you are better equipped to understand your position in the market and gain insights into industry trends. This can go a long way in helping you take informed, data-driven and strategic decisions that keep you ahead of the competition.
Why you should migrate your business to StoreHippo
StoreHippo enterprise ecommerce platform is designed to do away with the limitation of popular ecommerce platforms and comes with plug-and-play solutions for fast-growing, high-volume businesses.
Whether you have custom legacy software or use Shopify, Magento, WooCommerce or any other ecommerce platform you can have a painless ecommerce platform migration to StoreHippo.
StoreHippo offers Channel Migration solutions for Shopify, WooCommerce and Magento that are designed to migrate your entire business to StoreHippo in a few steps.
By migrating to StoreHippo you get the following benefits:
- A well-rounded ecommerce platform designed for businesses across industries and geographies
- No costly plugins and extensions needed to build, run and manage your business
- Smooth learning curve which makes adapting to the Storehippo platform easy after ecommerce migration
- Transparent transaction costs for high-volume businesses
- Plug and play solutions that eliminate plugin conflicts and breaks
- Effortless business with user-friendly and intuitive backend
- Secure enterprise ecommerce solutions with multi-level security
- Build high-performance ecommerce stores that give top-performance consistently even if you scale to millions of users
- Easy customizations to the front end as well as the backend
- 300+ built-in features and tools
- Auto-upgradable platform that eliminates the need for ecommerce migration
Conclusion
It is crucial to recognise the signs that stress the need of ecommerce migration for your brand. Migrating timely can save your brand from lagging behind and help you in maximizing your growth opportunities. The above list of signs can give you a clear indication and help you make an informed decision to change your ecommerce solutions provider and move to a future-ready ecommerce platform that helps you stay ahead of the competition.
While ecommerce replatforming may seem daunting, going with a next-gen ecommerce solution like StoreHippo can make replatforming smooth sailing for you. StoreHippo comes with well-designed migration solutions and channel integrations that take away the pains of migration and align your brand for growth like never before.
Easily import your products, orders and customers to StoreHippo with our exclusive Channel Migration Solutions. Don’t wait for the ecommerce platform migration signs to become urgent and critical. Set up your business for growth, explore amazing storeHippo features, start your free-trial now!
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