When constructing a house, you want to make sure that you have blueprints drawn up by a reputable architect and that it’s built on a solid foundation by contractors who will do a quality job.
You can apply this analogy for your digital commerce business. Not only do you need a solid platform, but you also want to create a business case that ensures you’re taking the right steps when choosing the commerce platform and implementation partner.
In part 1, we discussed the importance of reviewing the current state of your eCommerce business and establishing a baseline around customers, sales, and capacity. Once you’ve established benchmarks for your current commerce business and platform, you need to decide where you want to go.
Step 2 – Identify business goals and objectives
What do you want to accomplish?
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Common objectives found within the business case include increasing the number of distributors, increasing revenue, reducing costs through self-service, or increasing market share. Establishing and agreeing upon your goals will significantly impact the justification for elevating your business with a next-generation platform.
In our experience, successful business cases identify measurable business objectives such as:
- Drive more revenue from existing customers by increasing order value, frequency, and breadth
- Increase customer engagement, retention, and referrals
- Grow brand loyalty and advocacy
- Reduce customer service costs
- Improve customer profiling, targeting, and acquisition
- Improve customer service satisfaction by better understanding their needs and preferences
Learn more about preparing a business case – and the necessary elements to include – when choosing a commerce platform. Download our latest guide – Best Practices for Choosing a Commerce Platform, Part 1.