The world of e-commerce is brimming with opportunity. And entrepreneurship has never been easier than it is today.
According to a report from e-Marketer in fact, in the U.S alone, retail e-commerce is expected to increase to $908.73 billion in 2021. And what’s more is that this is just a small fraction of the overall value being brought in by the e-commerce sector.
Even traditional brick-and-mortar stores are now re-evaluating their business strategy. And most have decided to have an online presence. Especially, ever since the pandemic entered our lives and the importance of e-commerce started speaking for itself.
So, rest assured, everyone wants to invest. And everyone wants to get a slice of the pie.
While all of this looks great for the future of e-commerce, things start to feel a bit shaky when we talk about entrepreneurs.
The market looks saturated. Yes, everyone keeps saying the age-old phrase: But the barriers to entry are so low…
Except, that ‘low barriers to entry’ is the very thing which makes things difficult. Having few hurdles in entering the market means having more competitors. So much so, that the market eventually begins to feel saturated. Which lowers brand visibility, and ultimately, revenue generation.
Overcoming The Problem
So how exactly does one begin to enter the already saturated world of e-commerce, and ensure that their business visibility is high?
Some people will answer this question by focusing on things like increasing social media presence or putting more into one’s ad campaigns. And while all of that may be effective, there might still be a much easier way to increase business effectiveness right from the get-go.
That is, by using the right platform.
Data shows that out of the top 1 million sites on the internet, the three most preferred platforms by entrepreneurs include Magento, Shopify and WooCommerce Checkout.
Each of these comes with its own perks. And what might be suitable for one business might not necessarily be the best option for the next.
But to give you a better idea of what we mean when we say, “Pick the right platform,” let’s look at one of our favorites: Magento.
Magento 2.3.4 is the latest version that is currently being used in the market. While the previous versions had their advantages, this version includes features that make it the most optimum choice for new and previously well-established e-commerce stores.
Features Offered by Magento:
The key selling point here is that of security. While Shopify and WooCommerce are certainly user friendly, Magento ensures the privacy and protection of its users.
Take for instance, the pre-emptive measures taken by the platform when it tried to fix problems that could potentially arise in Remote Code Execution and Cross-Site Scripting. These measures were taken, even though no major exploitation of these has occurred thus far. But the company realized that this was a potential threat and decided to tackle it head on, rather than wait for complaints to fix the issue.
These, along with several other upgrades and tweaks, allow for enhanced security and better performance.
This is what we mean when we say that Magento works from the get-go in making your business effective.
The idea that this is a self-hosted platform, where users need to have at least a basic skill level and knowledge about programming, is a plus point when it comes to things such as scalability.
While other platforms allow a range of options to choose from, they are nevertheless limited in the options they offer. So, if every e-commerce store uses the same exact set of themes, plugins and extensions etc., it naturally becomes difficult to pick a distinguishing marker- that is, something that will set your business apart from other, similar ones.
In the past, Magento has integrated really well with other, third party APIs solutions and plugins. But when it comes to the latest version, not only does the platform retain the same high level of integration, but also reduces the need to add third party plugins everywhere. When it comes to interacting with consumers, for instance, the platform now offers a built-in solution, thereby making the basic set up easier to achieve.
The way we see it,
- It is now easier to make a basic set up, making it super simple for entrepreneurs to kick-off their business models
- Should your business grow down the line, it’s easy to add desired plugins, create new themes etc. that make your store even more attractive
- Improvements can be made as wished, and over time, leading to reduced costs.
In-built Marketing Tools
Digital marketing can be a crucial step in determining which brand has the highest visibility. It is the thing that puts one business over the other when it comes to the world of e-commerce. But why spend on expensive, unnecessary ad campaigns, when you can simply choose a platform that makes it so much easier to market your product/service to end consumers?
From the Page Builder, which allows for easy drag-and-drop options that make it easier to engage shoppers with fresh, new content, to basic things like SEO support, engine-friendly URLS, meta tags etc. Magento makes digital marketing easier to do than any other platform out there.
Google Analytics has thus far been a great source for e-commerce businesses to rely on. But with Magento Business Intelligence, it becomes even easier to keep track of crucial consumer data that can help you optimize your business for growth by making engagement with consumer needs much more easier than it is without such a tool.
Magento is an open-source platform that offers a capacity for optimization and development, while coming with a basic set of features.
Yes, it is a little more complicated to use than other platforms such as Shopify etc. but most of those problems can be removed with the help of the right developers. But what Magento does, in essence, is to equip its users with the right tools.
Choosing this platform thus, sets entrepreneurs on the right track for the long term.