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How To Perform Swot Analysis For Your Ecommerce Business
It happens to every ecommerce business eventually: growth plateaus. You try every idea you can think of, but nothing breaks the cycle.
The best explanation: an outsider’s perspective. A good ecommerce consultant has a lot of experience and knowledge from working with large and small stores to overcome ecommerce business and growth challenges.
Whether you’re selling through your own store or through another platform, ecommerce expertise can be the golden ticket you need to fuel your growth and take your store to the next level.
An ecommerce consultant is a third-party professional that companies can hire to help them develop their online stores and overall ecommerce operations. The definition is very broad—some ecommerce consultants have many skills, while others have less specific skills.
Horizontal Vs. Vertical E Commerce
Often times, when you get caught up in the day-to-day business, it can be difficult to think outside of yourself. While this perspective helps you focus on your business, it can also cause you to miss opportunities because you are not approaching the business from different angles. An ecommerce consultant can give you the knowledge but unbiased outside opinion you need.
Outsourcing a business is a great way to free up your time so you can focus on more important or effective tasks. Hiring a web consultant will give you peace of mind that your business is in good hands—and you won’t be spending more of your time doing consulting work.
Ecommerce consultants can help you come up with ways to improve your online business finances. This can cover digital marketing strategies, social media strategies, ecommerce platform recommendations, and other important business needs that are essential to running a successful business and growing online sales.
Ecommerce consultants specialize in many areas. Here are some challenges you can hire a web consultant to help your online business succeed.
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Improving your store’s conversion rate involves improving your user experience (UX) to make it easier and more enjoyable for customers to shop with you. In other words, the goal is to make it easy and seamless for your customer to buy. Ecommerce UX refers to the entire experience of someone visiting your ecommerce store, from their first visit to the moment they reach their shopping cart to check out. This shows how easy and intuitive your site is.
Bad UX is confusing, difficult, and distracts customers, while good UX makes it easy for users to do things, interact with your site, and ultimately make a purchase. Your ecommerce consultant can review your site’s UX and identify areas for conversion improvement, such as the checkout process. They will probably suggest you add 1-click checkout, live chat, or something else to push users to convert.
Customer acquisition is often the main goal of an ecommerce business. But it can be difficult to continually develop strategies to tap into new markets and audiences. An ecommerce consultant can provide new ideas and strategies to put your business in front of new customers.
For example, an ecommerce consultant can review your marketing channels and advise you on which ones to use to find new customers. They may suggest a channel that you haven’t considered, or a marketing campaign that you can integrate into your channels.
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Ecommerce consultants can also focus on helping you with your products, whether it’s product development, identifying new product opportunities, or improving your existing content. You can get their expert opinion on your current products as well as new product ideas you want to pursue.
Let’s say you want to extend your product line, for example. Maybe you’ve launched your own business selling specialty shampoos. But now sales are up and you’re thinking of adding a special conditioner to your line. An ecommerce consultant can step in and evaluate your idea, helping you conduct market research to see if it’s worth pursuing. Or, they may find something you can improve about your current shampoo product before you consider investing in new product development.
An ecommerce consultant can also review your pricing strategy. In some cases, you can charge more, which increases your profit margin so you make more money on each sale. Sometimes, your prices can be too high, preventing buyers from converting in the first place. A consultant can help you find the sweet spot between profitability and affordability when it comes to pricing your products.
Besides product pricing, ecommerce consultants also have the ability to help you increase overall profitability. They can negotiate your current contracts with technology platforms, suppliers, and other business partners. This will allow you to continue doing business as usual, unless you become more expensive.
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Ecommerce consultants can also look at business processes, regulations, and workflows to identify areas for improvement. They may have tools you don’t even use, such as automation tools that help you delegate, or they may find a subscription where you can downgrade to a cheaper plan but still use the fa’ ecommerce platform ideas.
An online consultant costs between $50 and $300 per hour. Some consultants charge a monthly fee in exchange for a certain number of hours or deliverables.
Consultant fees vary based on the size and scope of the project, the consultant’s location, and your industry. Additionally, consultants who have years of experience and proven results in recommending ecommerce solutions will cost more than consultants who are just starting out.
The consulting team has expertise in many areas of ecommerce consulting. You can take it to help you with your operational efficiency, customer service processes, promotional marketing, and even human resources (HR).
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Group Consulting is best suited for brands that want to consult with different areas of business rather than just one specific thing. The Consulting Group can provide everything from a complete digital takeover and transformation to a comprehensive SEO strategy (search engine optimization) or legal advice for business registration.
Bain & Company is a Boston-based consulting firm with offices around the world. Like Corporate Expertise, its expertise includes a variety of ecommerce businesses. The consulting firm has worked with businesses in all types of industries, including consumer goods, fashion and luxury goods, and grocery stores. This is a great company to work for if you sell online and in physical stores.
Bain & Company has special expertise in e-commerce for B2B companies, so if you are selling to other businesses, this would be a good option to look into. Note Bain & Company is a large firm with years of experience as business advisors, so its prices may be on the higher end of the spectrum.
BearingPoint is a global business consulting firm with expertise in nearly every business function. In terms of ecommerce strategy, BearingPoint has experts with specific work experience in consumer goods and retail. In particular, BearingPoint can help you if you want to implement a new digital or omnichannel marketing strategy, manage distribution to improve UX, or adopt new IT solutions.
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BearingPoint also has strong technology expertise, so it’s ideal if you need an ecommerce consultant who can assess, configure, or upgrade your current technology stack. And like Bain & Company, BearingPoint is ideal for ecommerce businesses that also have a physical retail presence.
Exo Digital is an Australian consulting firm that specializes in “creating immersive digital transformation experiences.” As for e-commerce, Exo Digital focuses mainly on UX and UI design, web and mobile application development, and customer experience design. It can also help you research and validate new products and business ideas, including facilitating rapid innovation sprints and innovation brainstorming.
If you want to move quickly, Exo Digital is a good choice. The company is a digital ecommerce consulting firm, so it’s perfect for brands that want to focus on growing their online presence. Exo Digital will help early adopters who are not afraid of new technologies.
McKinsey & Company is a leading consulting firm with a wide range of expertise. His McKinsey Digital consulting practice focuses on everything online—from digital marketing to operations and even data and analytics. So if you are looking for complete digital solutions, this might be the best option for you.
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If you want to re-develop your digital presence, McKinsey would be a great consultant to join. He has a lot of experience, advanced abilities, and strong skills. Keep in mind that you will likely need a solid budget given McKinsey’s size and breadth of expertise.
Monumental is an ecommerce consulting company that specializes in helping businesses use . It does everything and anything to help you with your ecommerce
