Choosing an eCommerce platform that is suitable and works best for them at the time is an important task that every brand and retailer has faced during the last 2 or 3 decades.
But when customer expectations have changed and technology has evolved, many brands find themselves asking a question: should they stay with their current platform or move to a new one.
What Are the Reasons to Start eCommerce Replatforming?
Your Current Platform’s Stability Affects Customer Experiences Negatively
Every minute your website is down, you lose $400 – $9,000. If your website can’t handle high traffic in peak seasons, basically you lose money. This doesn’t affect only peak seasons; eCommerce is a zero-sum game. When consumers can’t buy from you, they go to your competitor and buy from them.
Too High Total Cost of Ownership
TCO has become a major driver of Replatforming. Typically, bug fixing, version, and security patch updates take 4-8 weeks a year. Some companies need to upgrade their licensed or open-source on-premises platform every 6 or even every 3 months, but usually at least once a year. Many companies have costs in the tens or even hundreds of thousands, which is likely detracting from other areas, such as sales and marketing.
When an eCommerce Platform Becomes Legacy Software
When your eCommerce platform vendor stops issuing critical updates and security patch updates, your platform is officially legacy. That’s usually the time to think about replatforming to keep the online store secured and performance up-to-date. A good example is Magento 1, which ended support for all Magento 1 versions on June 30, 2020.
Your Current Platform Doesn’t Allow You to Customize the Storefront as Needed
If your current platform doesn’t allow critical customization or personalization to keep your customer experiences and loyalty at the highest possible level in the future. When your business grows, it becomes more challenging to scale. When your online storefront needs to allow unique competitive advantages to separate your store from the competitors.
What You Need to Consider When Deciding on a New eCommerce Platform?
What Your Customers Expect from You
Every decision you make is made to ensure a seamless shopping experience for your customers, right?
What kind of functionality do you need and what kind do your leading competitors use to offer excellent customer experiences?
Nowadays, personalization is a key driver of Average Order Value, Loyalty, and conversion. Ask how you are planning to personalize the customer experiences and communication.
Also, payment methods and delivery methods are important to ensure customer satisfaction and minimize cart abandonment rates. How does the new platform allow checkout customization and payment and delivery methods your customers prefer?
How Will Replatforming Affect Customer Service, Marketing, and Order Management?
eCommerce is much more than an online storefront. How good is your customer service, how do you build loyalty with personalized marketing, and how do you ensure omnichannel customer experiences? These are the points you should plan carefully.
Some platforms come with out-of-the-box Order Management, but usually, customer service and marketing platforms are external. So take your time; those solutions don’t only affect your budget but also customer experience, loyalty, and the whole business.
Digital Commerce Advisor is a global commerce consulting firm. We help brands, retailers, and B2B organizations with digital transformation using leading SaaS solutions like Salesforce Commerce Cloud and Shopify.
