There are several e-commerce companies all over the world. If you intend to own one or currently do, you need to make yours stand out. To do this, you will need a competitive edge. This piece seeks to provide you with seven tools anyone can use to gain a competitive advantage in the e-commerce industry.
An e-commerce business’s success depends on the acquisition of data, analysis, and then using it to make an effective business decision. One great analytic tool you can use to compile and analyze data is Elevar. You can gather and analyze things like social trends, google analytics, marketing analytics, e-commerce insights, etc. This is a great tool to leverage on.
One of the major determinants of the e-commerce business success is the price you sell compared to competitors. Interestingly, Prisync gives you a competitive edge by tracking competitor’s prices. With it, you can be able to set prices in real-time. This will help to remain competitive as the price is a significant determinant of whether your e-commerce business will succeed.
When it comes to customer engagement, many e-commerce businesses are losing out. Zendesk is an all-encompassing tool that helps you interact with a customer in real-time. This is important to support customers and improve your business brand. If you don’t have a competitive edge with your customers, failure is guaranteed.
This is an automated machine learning software build to detect fraud and cyber attacks in real-time. For an e-commerce business, this is one of the greatest concerns of both the customers and the company. Nobody wants to use an e-commerce platform where their details are not secure. This is why every e-commerce platform needs this competitive advantage.
To maximize customer engagement on the e-commerce website, you will need to know precisely where and what customers are doing on the platform. Hotjar helps to reveal what customers are clicking on. This is one of the best tools you can leverage in the e-commerce business. With this, you can see where customers are not going on your e-commerce website.
One great competitive edge is knowing how to relate and sell to customers. Segmentify helps group customers and offers suggestions on products and offers based on what customers with similar profiles have ordered. This is a competitive edge in product sales. This also helps with quality KYC (know your customer).
This is an essential tool that helps you target customers with abandoned carts on your e-commerce website. With this tool, you will be able to still make some sales from the abandoned carts. You will analyze their abandonment decisions and reach out via emails, SMS, automated call, etc. This is more of customer retention.
With these seven tools, you can gain a competitive edge in the e-commerce industry. Of all the tools you need, engage these tools to competitively place your e-commerce business at the top among the competitors.