When you press the accelerator of your car, it lunges forward. The process may seem very simple – until you open the car’s hood. On average, a gasoline-powered car has about 2000+ parts in the drivetrain, working cohesively to make your car move. For the uninitiated, not until one of these goes defunct, do you realize they even existed somewhere in the setup!
eCommerce businesses can be likened to a car. The simple act of customers buying from sellers online, involves multiple processes, both directly leading up to the moment, and indirectly supporting operations.
These processes and operations need to work cohesively, with higher levels of efficiency and automation for eCommerce to function like a well-oiled machine. And for that, you need the best eCommerce tools available in the market.
In this blog, let’s go on a discovery trail to unravel the intricacies that make online businesses thrive, with the top tools to build an eCommerce business.
Yo!Kart – eCommerce Marketplace Software
eCommerce marketplace software can help you launch a multivendor eCommerce platform.
But, first – what is an eCommerce marketplace?
Think Amazon, Etsy or eBay. While all of these have their differences. On an elementary level, an eCommerce marketplace has multiple vendors selling to a consumer base. This consumer base is established by the business itself. Operations are managed by the marketplace operator.
Yo!Kart is a leading readymade solution that can help you launch an eCommerce marketplace like Amazon or Etsy. The solution comes with multiple functionalities that you will need for the participants of the platform – the operator, sellers, and buyers. These include features to manage operations like inventory, and product listing; marketing features to promote the business; conversions-driven underpinnings to lead; and ones to foster pleasing shopping experiences for the users.
Depending upon the business requirements, the solution can simply be deployed over the hosting provider of the client’s choice, and you have your eCommerce marketplace platform up and running.
However, in case you need more specific personalisations, you will need to customize the solution as per your business requirements. Yo!Kart has an in-house team, to cater to such requirements. The team has the expertise and reliability of having worked for a diverse 5000+ eCommerce platforms globally, garnering positive reviews.
Significantly, Yo!Kart is self-hosted, and available with just a one-time payment. Unlike in the case of SaaS-based solutions, when you pay once for Yo!kart, the solution copy is yours for a lifetime of use. And in case you need it, there is a year of technical support available, for free.
Yo!Kart B2B – B2B Marketplace Software
Essentially, Yo!Kart B2B will allow you to build an eCommerce platform just like Yo!Kart, but the key difference here is “B2B” Developed by the same team as Yo!Kart, this solution is tailor-made to facilitate online transactions between businesses, catering specifically to their unique requirements.
B2B marketplaces are multivendor marketplaces like Alibaba i.e. platforms for businesses like distributors, manufacturers, brand retailers, and other businesses to transact. The sales process for businesses works very distinctively from B2C sales – ergo, the platform functionalities need to vary accordingly. Yo!Kart B2B understands these needs and facilitates seamless B2B eCommerce with some key functionalities.
For instance, there is an in-built RFQ module and hide prices feature for negotiations; custom invoices and part payments for high-value transactions; bulk order management, minimum order quantity for greater volumes, and more. These are some of the key features that complement the robust system.
Furthermore, just like Yo!Kart, the B2B solution comes with the freedom of just paying once. That’s right, a one-time payment is all you need for a lifetime of ownership. Find your way around in the eCommerce industry with ease, with the complementary one year of free after-sales support.
Yo!Kart B2B can also be customized as per any specific business needs. Thus making it easy for you to enter into any niche business with ease.
An integral thread in the rise of eCommerce over the years has been the holistic shopping experience that platforms offer. The backbone of this experience is trust – fostered by secure technologies. Especially with the involvement of a financial component, reliability is even more important.
Payment processors are the “transmission” of eCommerce’s “drivetrain”. In other words, an integral component of the complex setup. Following a series of steps, payment processors allow money to be transferred from the consumer’s bank account to the account registered by the business. While this is their primary purpose, modern payment gateways offer a lot more than this.
Stripe is a popular payment gateway that offers some nifty features along with reliability. It offers purpose-built functionalities for all platform participants. It features real-time split payments along with other checkout features, offering consumers a flexible checkout experience. Additionally, the buyers can also pay via multiple payment methods on the payment gateway.
For businesses Stripe offers a customized payment interface, embeddable UI elements, and more.
Marketplace operators can offer automated payouts to sellers, custom invoices, payment links, reports, and many other convenient features with Stripe Connect.
Given all these features, Stripe provides a secure ecosystem for financial transactions. It leverages multiple security measures like encryption and tokenization. It has fraud detection functionality to protect customer data. Moreover, Stripe is PCI-DSS compliant, meeting global standards.
Considering all the benefits of Stripe, it currently operates in only 35 countries. However, here is a list of other popular payment gateways in various regions of the world.
With the availability of pre-integrated payment gateways that encompass regions of the entire world, Yo!Kart products are truly readymade and offer functionalities for launching a global marketplace. Furthermore Yo!Kart solutions leverage the best of Stripe Connect features with their system.
Choose the payment gateways that work best in your region
Efficient accounting is integral to every business, and eCommerce is no different. Online businesses tend to scale geographically, especially e-marketplaces. In such a scenario each region has varying tax compliance and regulations. For instance, each state in the US has varying Tax regulations. This gets more complicated when eCommerce platforms operate internationally.
Add to the above-stated fact – the sheer number of transactions an online business may have to cater to. Imagine these transactions coming from different parts of the world. Manual tax calculations will simply be out of scope of the business. Especially, since regular reports have to be submitted with detailed information on due tax. Again, this is even more complex for international transactions.
Avalara is one of the more popular software that can automate this entire process. They offer APIs, which can be integrated into an eCommerce platform and configured via unique API keys. This allows the eCommerce platform to exchange data with the Avalara software, automating the process. Information from the shopping cart and invoices is shared with the cloud-based Avalara software. The software has detailed information regarding the latest in tax regulations, considering tax rates for each state, county, and city.
Moreover, it also takes into account the laws, rules, and jurisdiction boundaries of all the regions. Particular scenarios like tax holidays and product exemptions are also stored in the database. In short, pretty much all details are accounted for.
While the above-stated information was key to business success, Avalara also provides additional information for other platform participants. Buyers on the platform can get real-time calculations displayed on the platform’s product page with the help of Avalara’s native geolocation feature. This allows them to know the actual price of the product at the time of purchase, enhancing transparency and the shopping experience for the buyers.
Expectedly, shipping fulfillment is key to positive customer experiences. Consider this – right from the time consumers complete checkout, their anticipation starts building till the time they finally receive the product. Moreover, apart from the shipping time, the way products are shipped and how returns are managed by the eCommerce business, adds to the consumer experience. Delayed orders, mismanaged shipping, and higher shipping rates are some of the many reasons that are likely to impact customer retention rates for the business.
To give consumers an eCommerce experience they want to keep coming back for – one can consider routing Shipping fulfillment via solutions such as Shipstation and Aftership.
Both these companies have cloud-based centralized platforms that offer APIs that can be integrated into eCommerce platforms. With the integration, you can allow sellers to operate from the platform and conduct shipping operations from printing labels to batch shipping and much more.
They offer the best rates from leading logistics companies such as UPS, DHL, FedEx, and more. Shipments are seamlessly managed with their scan and ship features. The solution also offers instant tracking details when the orders are booked via their software. Thus allowing eCommerce businesses to solve key pain points in shipping operations, and give buyers pleasing shopping experiences.
One might have gone through a series of brainstorming sessions, working intently to give shape to the eCommerce businesses or improve upon it – carefully weaving it with underpinnings that are expected to give results. There has been a thorough analysis of the existing competition, intricately devising strategies that can give an edge. But with all that information, how does one ascertain which strategies work, or does one need to pivot and add some other ingredient to the business?
The answer lies in data. The performance of the business best lies in crunching data to evaluate strategies. Data can give insights into what is working and what may be a growth bottleneck.
With Google Analytics, this data is delivered straight from the horse’s mouth – the users. It is the quintessential tool to churn success in the modern dynamics of the competitive eCommerce cauldron.
With the data-driven insights from Google Analytics, eCommerce businesses can set forth strategies that underpin performance, consumer analysis, and business decisions. For instance, by studying tracking metrics like page views, bounce rates, best-performing products, and conversion rates – businesses can analyze how users are interacting with their platform. This data can further be filtered based on geographical locations or real-time insights. If needed, various elements within the platform can be optimized for data-driven conversion rate optimization.
Just like Google Analytics, Google Ads is also a powerful medium that enables businesses to get user attention via advertisements. eCommerce businesses can create targeted ads to promote their products or services in front of a predefined target audience. With multiple options to personalize ad formats and other targeting options, businesses can enhance their online visibility, drive traffic to their platforms, and eventually augment their sales and revenue.
Both Google Ads and Google Analytics complement their utility for a business. Take for instance, if, by analyzing data from Google Analytics, an online platform discovers that a number of users were abandoning their carts during the checkout process. They can leverage Google Ads campaigns to target these users. By enticing these users with targeted marketing offers such as coupons or discounts, the business can enhance its conversion rates, completing marketing objectives.
Given the value of the solution, Google Analytics is a must-have for eCommerce marketing. Naturally, it is pre-integrated with Yo!Kart solutions.
Leverage our expertise to kick-start your eCommerce marketing
An eCommerce platform needs users. Unlike a physical brick-and-mortar store, an online marketplace will not be visible to your users, unless there is an effort to enhance the visibility of the platform.
One of the better ways to do so is by sending marketing emails. These emails can entice users to the platform by giving offers, discounts, abandoned cart messages, or simply by conveying the USP of your business.
Mailchimp is one of the most preferred email marketing tools for eCommerce businesses. It is a versatile solution that helps businesses of all sizes to create and send emails. It also makes it possible to analyze the performance of your email campaigns, by tracking opens and clicks, and more.
Furthermore, to make your emails engaging, it has a variety of features such as customizable templates, audience segmentation, and more. With Mailchimp, you can easily design and send professional emails.
eCommerce today is a buyer-centric, personalized experience. Amidst a plethora of platform choices, and a fast-paced lifestyle-driven reducing attention span, buyers need instant attention to their needs. Chat-Support is the quintessential support channel that eCommerce businesses must consider. It also adds a personal element to their platforms. Chat support enhances customer satisfaction by allowing buyers to seek assistance with their queries, and get apt resolutions – enhancing conversion rates and buyer loyalty. Furthermore, with due support chat also opens up-selling and cross-selling opportunities for the business.
HeyZilo is a top Chat software that will allow you to offer chat support to your buyers, and a whole lot more. It supports both real-time chat and pre-defined automated responses. Moreover, users can share files on the chat window itself.
The tool also offers higher operational efficiency with features such as automated responses, and collaboration facilitators for help agents.
Additionally, HeyZilo goes beyond the utility of chat software and offers businesses holistic control. With the help of KPI metrics that give insights on chats, tickets, and visitors, businesses can get valuable data to understand their customers and the performance of the business. Moreover, by monitoring various aspects of user behavior with the solution, deep insights can be gained on business engagement.
For personalized UI requirements, the chat solution can be customized to meet the brand signature of the business. Despite such a long list of features, HeyZilo is available for free. (However, removing its branding attracts a nominal monthly fee). The solution can be seamlessly integrated into contemporary eCommerce platforms.
MSN Translator – Real-time Text Translator
One of the biggest draws of eCommerce is that it is not restricted by geographical boundaries. An internet-based reach means eCommerce platforms can go global. However global boundaries are generally restricted by language barriers.
The way around it is integrating MSN translator into the platform. The solution offers users the convenience of browsing the platform in their preferred language. It does real-time translation of the web content, allowing users from around the world to participate in the eCommerce activities of the platform.
MSN translator is offered by default with Yo!Kart solutions – go global with ease
eCommerce has been one of the most opportune business ventures for a good part of the past couple of decades. In recent times though, it has also been a very competitive industry.
Significantly, the pioneers of eCommerce i.e. such as Etsy, Alibaba, and Amazon have set forth an ecosystem in the industry, that has allowed consumers to embrace online as a preferred channel – a unique experience that has disrupted commerce, as the way the world once saw it.
In the process, it has evolved users into expecting eCommerce, the way it is. Leveraging technology, processes, nifty marketing, et all, the consumer expects a certain minimum from an eCommerce undertaking.
Well, the good news is, that the top tools mentioned in this article present an opportunity for newer eCommerce entrants and existing ones alike, to offer a similar seamless experience like the well-established platforms.
To launch an eCommerce business that sets the bar in the online industry, you can start with an eCommerce marketplace builder mentioned here, giving the platform participants a contemporary medium to conduct their eCommerce activities seamlessly.
Further, Integrate the platform with tools that set you forth for success. Provide shipping fulfilment, secure payment gateways, and more to enhance the capabilities of the business. Use business APIs like Avalara to enhance backend operations. Implement data-driven strategies to give users a platform they want
eCommerce tools help entrepreneurs not only to establish themselves in the industry – but also to grow. Hence, starting with an eCommerce platform that offers the benefit of top tools, can get you the best results. If however, you are still unsure of which tools will work best for your platform, solutions like Yo!Kart can give you a headstart with multiple APIs offered pre-integrated within a unified platform.