Unless you’ve been living under a rock lately, you know that brick-and-mortar stores are largely becoming a thing of the past as retail continues to shift to the online world. But what’s less obvious is the way the best online retailers manage to stand out in a crowded marketplace, and run their online business with all the ingenuity merchants have needed for centuries.
Let’s take a closer look at the secret driving today’s digitally native vertical businesses: Ecommerce platforms.
Many Ecommerce companies are opting for a subscription-based sales model; it’s a way for companies to secure long-term sales, and consumers get the convenience of products they use regularly showing up at their doorstep, often at a discounted price.
The best Ecommerce platforms today have subscription software and management features designed specifically for this model. They can pull up enterprise-level data on dashboards tailor made for subscription businesses.
Plus, there are smart optimization features of unique importance to subscription businesses. Industry leading platforms ensure that businesses have credit card data that is always current and up to date before a rebill cycle.
With this technology, businesses no longer need to waste the time and energy chasing consumers when they get a new credit card, or it’s misplaced or stolen. The consumer gets to have the service they signed up for continue without a hitch, and businesses get continuous, predictable sales. And of course, more revenue.
In a business climate where everyone understands the power of data, companies need quick access to the numbers that matter. Executives don’t have time to waste interpreting charts and graphs.
The best Ecommerce platforms have over 20 different dashboards providing insights into the trends of your business, including:
- Recurring revenue
- Profits and loss
- Rebill rate
- Active subscription forecasting
- Cycle analysis
- And more
Zoom in to see an intricate picture of each consumer, or pull back to understand your overall economic health at a glance. Plus, all the information is pulled in real-time, so business leaders always have the latest information right at their fingertips.
In 2019, the global Ecommerce market did $3.56 trillion worth of sales — no wonder it’s such an attractive target for fraud. Every DNVB needs to have a plan in place, because dealing with fraud is sadly an inevitable part of doing business online.
Industry leading Ecommerce platforms screen all your transactions in advance, stopping fraud from ravaging your business before it strikes. Indeed, the best platforms partner with other industry leaders in fraud detection and management to help identify and screen suspicious customers.
Expect multi-tiered security combining automation and expert specialists who personally manage a company’s fraud prevention. Also, don’t bother with an Ecommerce platform unless it meets PCI DSS Level 1 standards.
The secrets driving Ecommerce might not be apparent if you’re a consumer making purchases. From the giant of industry to the startups looking to become disruptors, any online retailer today needs an all-in-one Ecommerce platform that keeps their company informed, protected, and making as much revenue as possible.