How Will Pathwwway Success Differ to Your Businesses 5 Year Plan and Why?
Ecommerce
is booming these days. Global retail ecommerce sales hit $2.3 trillion in 2017,
up from $1.3 trillion in 2014. Additionally, close to $64 billion of venture
capital was invested in the ecommerce space from 2013 to 2017. Pathwwway
success can make a big difference to B2B and B2C ecommerce companies that want
to be part of this growth story. Pathwwway services cover an entire spectrum of
services, from customer retention and product testing to business intelligence
and website production.
A
lot of ecommerce businesses focus on acquisition and don’t invest in customer
growth and retention. This holds back
their growth and hampers the long-term sustainability of business models. For
ecommerce businesses seeking competitive advantage, the focus needs to move
past conversions and sales to customer retention. Amazon, for example, focuses
on repeat customers, marking a growth from over 46 percent in the Q4 for 1996
to 58 percent for the final quarter of 1997 alone. Companies that focus on
acquisition also have a higher marketing spend, as cost of acquisition beats
retention and customer growth.
- The Power of Product Testing
Pathwwway
success stories for effective product development abound. This is because
ecommerce products need to meet quality requirements so customers shop
regularly. If customers do not make repeat purchases, they will not be loyal.
Ecommerce brands need inventories that are purchased enough. Given that
ecommerce is extremely competitive, customers need more reasons to keep
returning. Additionally, goals and key performance indicators drive
organisational priorities.
- The Value of Customer Retention
Successful
ecommerce brands set goals around customer growth and retention. Traditional
metrics such as conversion rate, traffic and sales are not enough. Ecommerce
businesses work with the Pathwwway team to examine the share of purchase from
repeat customers, 3-6 month customer value, the share of first-time customers
making a second or third order and the total number of customers making a
repeat purchase in the last month. Such innovative metrics pave the way for
growth and value generation.
- The Importance of Business Intelligence
In
the age of Big Data, the value of business intelligence solutions from the
Pathwwway eam is immense. BI and data
analyses play a crucial role in spurring ecommerce growth and innovation. Given
the enormous potential of the data revolution, Pathwwway success lies in giving clients the right analytics for understanding and predicting growth. So, whether it is
visual graphs or dashboards that offer in-depth analytics, BI solutions from
Pathwwway can script a success story that taps growth, stability and
innovation. For ecommerce businesses that seek to be agile disruptors, the
value of business intelligence solutions that offer actionable insights cannot
be stressed enough.
Pathwwway
can impact a company’s 5-year growth plan in different ways. For growing the
ecommerce business, Pathwwway services and solutions offer immeasurable
benefits. So, partner Pathwwway and propel your business onto the upward growth
trajectory. For reaching all your long-term growth milestones and shaping
business innovation in ways that offer incredible benefits, Pathwwway is the
right choice for a strategic partnership.