5 Ways E-Commerce Leaders Can Apply Digital Technology for Growth

As an e-commerce entrepreneur, you know that technology is the foundation of your business. But are you really using today’s tech tools to the fullest extent? You might be overlooking creative uses for technology in your business. By working with eChannelHub to manage your online business, you can start utilizing these tools to drive more sales. Additionally, here are a few suggestions for integrating digital technology into your business model!

Use an API for Managing Debt

If you’re aiming to pay down business debts, you can use a bank loan API to get your payments under control and make progress on your loans. This tool allows you to easily access information on any ongoing liabilities and loans. You’ll be able to check your balances and terms, enabling you to accurately manage financial planning and stay up to date with any payments.

Develop a Mobile App

Maybe you’ve poured lots of time and effort into improving your website’s design, but you haven’t launched a mobile app. With so many consumers shopping from their smartphones, offering a mobile app is crucial for e-commerce entrepreneurs! If you want to develop a mobile app, Shakuro recommends keeping the functionality simple, focusing on sleek user experience design principles, and studying your competitors to figure out which features your customers might be expecting.

If you don’t have team members who can handle an app development project at the moment, you may be interested in hiring a contractor to take on the job. Alternatively, you could outsource this project to a mobile app development agency. Check out their portfolios to see if they’ve worked with similar companies before hiring anyone.

Experiment With AI

Artificial intelligence is changing the world of entrepreneurship – soon, every e-commerce entrepreneur will need to have a solid working knowledge of this form of technology. You can get ahead of the competition by incorporating AI into your business model today! OptiMonk states that e-commerce entrepreneurs might be interested in AI functionalities such as customer relationship management software, inventory management, and image classification.

Use Process Mining to Inform Data-Driven Strategies

You don’t have to build your marketing, sales, branding, or operations strategies on guesswork and assumptions. Today, you can create data-driven strategies for every aspect of your business. It’s all about gathering data points for analytics.

By mapping out existing workflows and then analyzing the data, process mining can help you to identify inefficiencies, bottle-necks, and areas for improvement. In addition, process mining can also be used to discover hidden opportunities for improvement. For example, by analyzing customer service data, you might uncover an opportunity to increase sales by cross-selling or upselling products. Similarly, by mining data from your financial systems, you might be able to identify areas of potential risk and develop strategies for mitigating those risks. Ultimately, tools for process mining can provide valuable insights that can help your business run more smoothly and efficiently.

Live Chat Option

Perhaps you do have a dedicated customer service representative or even a small team – but they might not be available around the clock, and sending customers directly to them for minor issues isn’t always efficient. To remedy this problem, you can install a chatbot on your website! You can even use an AI-based chatbot for enhanced service. An AI chatbot is often the superior choice because it can better analyze the text input by users and present a range of specific solutions based on that text. A chatbot does not eliminate the need for customer service representatives, but it can definitely ease their workload, and it allows your customers to get the answers they need at any time of day.

Even as a business owner in the e-commerce sector, you might not be aware of the myriad of uses for digital technology in your business. Thankfully, you always have the opportunity to test out new tools and applications. With these ideas for digital tech solutions, you can reach new customers and manage your company more efficiently!

Ready to scale your e-commerce business? Multichannel ecommerce software from eChannelHub can automate your entire online selling process!

Photo via Pexels