EC Implementation

What is E-Commerce implementation?

E-Commerce implementation consists of all the steps related to
the launch, update, and maintenance of an online store.
eCommerce allows businesses to sell products from anywhere
at any time, and it connects businesses to new customers who
were previously unreachable due to distance and hours of
operation. Furthermore, implementing eCommerce solutions
enables the collection of better customer data and demographic
information that can be used to increase the conversions of
marketing and sales leads.
The rapid, global rise in eCommerce has led nearly every
industry to implement it in some form in order to provide more
modern, efficient customer experiences.
6 Steps in eCommerce Implementation
As previously mentioned, eCommerce implementation
activities can include building new eCommerce sites, or
upgrading and maintaining existing online stores. If you
are refreshing your existing online commerce site, begin
by evaluating your current sites and goals, and then
proceed with the actionable steps to accomplish your
objectives. If you are starting from scratch, it can be
helpful to follow the complete set of steps detailed
below.
Understanding your customers’ needs
The first and most important step of your eCommerce
implementation is understanding your customers. The
whole goal of your eCommerce strategy should be to
make their lives easier. If the new, online processes are
more frustrating than they are in-built, then the entire
strategy can backfire - both internally and externally.
Ask yourself important questions like:
1- What info is required to make an informed purchase?
2- What type of shopping/checkout experience is best
suited for your product? A standard shopping cart
experience? Ordering portal? Configure-Price-Quote
(CPQ)? Custom process?
3- What do customers need in their login/self-service
portal?
4-How can we make everything easier and more in-built
for the customer than it is “the old way”?
Strategic Pre-Implementation Planning
The second step in eCommerce implementation is to
create a clear roadmap with specific, measurable,
possible, realistic, and timely objectives. This is the stage
in which resources and constraints must be defined.
Getting buy-in on the vision from all stakeholders is
critical in this stage, and the mission and goals of the
company will shape the proceeding actions. 
Solution Evaluation
The third step is to choose your actual eCommerce
solution. The platform should be compatible with your
existing systems, customizable to your current and
future needs, scalable, and must create experiences
appropriate for your business. Various technologies may
offer different functionalities, like B2B vs. B2C, and it is
important that the capabilities complement your
industry, target audience, and business model. 
Go-to-market strategy
The fourth step is to determine how you’ll make your
eCommerce presence known. What are the best
keywords to include on your product pages? How can
you entice existing customers to start purchasing online?
Are there other online marketplaces your products
should be on? What promotional strategies can you run
to make noise about the new site?
Digital marketing is an important part of eCommerce
implementation. There are many tools for reaching new
and existing customers and drawing them to your site.
Multi-channel approaches include search engine
optimization, paid advertisements, social media
marketing, email campaigns, referral programs,
retargeting campaigns, and display advertisements. 
Retention and loyalty building
The fifth step is customer retention. This is an important
extension of the fourth step, where you’ll now be turning
new and existing customers into fans.   
Consider implementing loyalty programs like volume
discounts, customer levels, or free shipping incentives.
You can also personalize customer experiences based on
purchase history or website behavior, and enable
automated cross-selling with features like related
products.
And don’t forget, the number one tool cited by
marketers for customer retention remains email
marketing - a critical component of the eCommerce
experience. Build automated, personalized email
campaigns based on customer behaviors to stay
relevant, top-of-mind, and to continue offering
additional value to your customers through tailored
promotions.
Analysis and Optimization
The sixth step in eCommerce implementation is analysis
and optimization, and this one is ongoing. The actions
involved in optimizing your online store include
analyzing key metrics that measure the cost of customer
achievement, % of customers converted, % of customers
entering the site through different channels, % of
revenue contributed by each profitable customer, the
gross revenue generated, and more. 
 Task:
A large E-commerce site wants to expand its payment
options by allowing customers to use installment plans
to pay for their purchases. Discuss the advantages and
disadvantages of installment plans for both customers
and the retailer. What risks should the retailer be
aware of when offering installment plans?