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Magento ERP - How Companies of All Sizes Can Benefit from ERP Systems

In any industry, there are big players and smaller ones. Whether a company is a micro business or giant corporation with triple digit years’ worth of experience, each and every one of them can benefit from operational organization methods, such as Magento ERP systems.  In each situation, it is important to consider the size of your company, its needs, and what may happen in the future.  Most importantly, there is no cookie-cutter option, and when consulting a Magento ERP system, keep in mind that your individual needs outweigh the biased views of Magento ERP vendors.

If you are still unsure about which Magento ERP vendor to choose, we highly recommend Magento ERP from this Premier Technology Partner.

 

Magento ERP Systems for Small Companies

Taking a micro-business, for example. They may have a limited budget and no need for the functionalities of a Magento ERP system, which may be a good fit for a large corporation. It is important to understand that there is no one-size-fits-all or cookie-cutter solutions for Magento ERP systems when it comes to suggesting the correct functionality for a business.

It is a Magento ERP consultant’s job to help a business judge their real Magento ERP needs, as well as its realistic scalabilities. A good consultant should be able to pinpoint scalability of an organization and anticipate future needs so that money is not being wasted when the business outgrows a solution which does not grow with it. These needs must all be met within budget, of course, as a small company may lack certain funds or chose to neglect certain needs to stay within budget. Make sure that current budget restrictions don’t also restrict future growth though.

 

Magento ERP Systems for Large Corporations

This is true on the other side as well, for large-scale corporations. Obviously, the needs of a multi-faceted business with many departments, roles, and moving parts will be much more complex than those of the small or mid-sized business. In this case, it is important to look at resources and solutions, which should be defined to address a large organization’s long-term needs.  In this case, staying away from trends and solutions without much of a track record is a good idea. 

 

Magento ERP Systems for Mid-Sized Corporations

While Magento ERP solutions for small and large companies may seem more obvious, the solution for mid-sized companies may have more factors involved. Possibly, there are future growth plans involved, but then again, maybe not. Sustainable Magento ERP solutions for mid-sized companies are often limited by budgetary constraints. Also, functionality will be important to consider as the fit need to be “just right” based on organizational pain points and needs.

Reviewing options and choosing a Magento ERP System and solution based on need, budget scalability and organizational function are key to a successful implementation for any sized company. It is not correct to think that there is a one-sized-fits-all solutions for all companies, nor is it correct to just think in present-terms as opposed to long-term needs as well. Magento ERP systems can help any sized company achieve future goals. Discuss with Magentower for the best.

Abandoned shopping cart email strategy in 2017

An ecommerce website should avoid many things, and one of them is abandoned shopping cart. Due to some research of Cart abandoned rate in Baymard Institute, it is about 68%. Do you know what that means? That means only 1 in every 4 customers could finish purchasing online shopping.

However, a great marketer must understand the circumstance, then target these lost customers with the abandoned shopping cart email strategy. There is a lack of proper marketing strategy to target these potential customers early in the buying process. The shoppers are simply retargeted later with Facebook ads alone.

So how efficient the abandoned shopping cart email strategy, especially in 2017 is? Let's find out

1, Segmentation - First Abandoned Shopping cart email strategy

When a subscriber receive a personalized email, he or she is more likely to take action. A wise store owner doesn't want to miss this chance. But sharing coupon is not always a regular solution. Sometimes you could not recover the carts in exchange of bringing more intent of the abandon.

Affiliate marketing is a good action, and when combine with something like Magento 2 Refer a friend, you could help your customers build a shopping system. For each time they refer a new friend to purchase in your shop, they have more commissions to lengthen their shopping life spans.

2, Unique subject line of Abandoned Shopping Cart Email

Subject line is the first thing attract the receiver's attention. If the receiver trust the sender, and the subject line is unique, they will more likely to read the email, and therefore, more likely to act. 

When recipients read your subject lines, they should be reminded of what they left behind. A well-written subject line can go a long way toward piquing the interest of reluctant customers. So, don’t be lazy when crafting your subject lines for cart recovery emails. Depending on what is triggering (discussed in step 5) the email, you can include urgency, scarcity, or emotions like anxiety to influence hesitant shoppers.

3, Responsive Email, and Responsive Checkout Process:

You can create a great email that includes rich product images, compelling copy, a good offer, and a good CTA. However, if it’s not responsive across all devices, such as laptops, tablets, and smartphones, it’s not going to increase your conversions. Being responsive is the key to making the customer experience seamless because people are checking their emails on different devices, mostly mobile. How optimized your emails are for these devices will play a significant role in determining whether or not people will complete their purchases.

Your Checkout Process need to be more responsive, quicker and easier to reduce abandoned cart rate. One step checkout for Magento 2 should be considered if you are using Magento 2 for your ecommerce website.

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Set up Affiliate Program for ecommerce sites

When you have done building ecommerce website, your work has not been done yet. You need traffic, you need leads, you need sales. But you find it too difficult, and you need one new channel of marketing, and it is affiliate marketing. However, you need to set up Affiliate Program for your ecommerce sites.

1. Set the commission

It is seen as one of the most important factors before you launching your affiliate program in your Magento e-commerce site. After finishing it, you can set it in Affiliate extension in your site. To be more specific, in the Magento Affiliate module, you can choose the commission by percentage or a specific amount of money. Furthermore, by using this extension, you can pay different commission or discount basing on level of affiliates.

2. Refer friend:

When you want that your customers may become your affiliates, you can apply “Refer friend” in your e-commerce site. It can be done easily by allowing them to share links through their social channels like Facebook, Twitter, and email.

3. Account management:

After establishing the affiliate system, you need to manage it to control and assess it. With Affiliate Plus extension, you have full power to manage your affiliates. It provides some features like remove, add, enable or disable affiliates and edit preferences in “Manage Account”.

4. Tier commission:

It is very interesting and helpful for you because by applying tier commission, you do not need to spend money to recruit the affiliates for your program. You can offer an incentive for your affiliate to persuade their friend to sign up and join your affiliate program by the commission. When their friend sell any products of your store, both of them can receive the commission from you.
Affiliate Plus extension provides the plugin that allows you to set commission amount of types for different tiers.

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CART ABANDONMENT RATE - BAYMARD STATISTIC

In ecommerce, there has been a widely spread concept known as Cart abandonment. The more increase the cart abandonment is, the more decrease your shop revenue will be. According to Baymard Institute, Cart Abandonment rate is approximately 68%. The cause of cart abandonment is varied and diversified.

Why Cart Abandonment Rate is such high?

Now in all fairness to the e-commerce industry, a large portion of cart abandonments are simply a natural consequence of how users browse e-commerce sites. Which means, your websites is not comfortable for your users. Could it be the window popping, the price comparison or the On-hold list. These are largely unavoidable cart and checkout abandonments.

In fact, our latest quantitative study of reasons for abandonment found that 58.6% of US online shoppers have abandoned a cart within the last 3 months because “I was just browsing / not ready to buy”. And the buying flow is stopped, but the website's user experience is so bad to help customers keep their buying flows. Most of these will abandon even before they initiate the checkout flow. However, if we segment out this “just browsing” segment, and instead look at the remaining reasons for abandonments we get the following distribution:

 

Unlike the “just browsing” segment, a lot of these issues can be resolved. In fact, many of them can be fixed purely through design changes. Let’s take a look at just 1 of 134 examples in new checkout study: 27% of US online shoppers have abandoned an order in the past quarter solely due to a “too long / complicated checkout process”.

How much does shop owners lose?

If we focus only on checkout usability issues which we – during the past 7 years of large-scale checkout testing at Baymard Institute – have documented to be solvable, the average large-sized e-commerce site can gain a 35.26% increase in conversion rate though better checkout design. And that is despite testing the checkout flows of large e-commerce sites in the US and EU, such as Walmart, Amazon, Wayfair, Crate & Barrel, ASOS, etc.

So at the massive sale of $738 billion in the US and EU, 35.26% is worth $260 billion. Yes, $260 billion worth of lost orders which are recoverable solely through a better checkout flow & design.

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