Ecommerce has been one of the fastest-growing industries in the UK in recent years, with the COVID-19 pandemic accelerating the trend towards online shopping. According to the Office for National Statistics, online sales in the UK accounted for 36.2% of all retail sales in November 2020, compared to 20.1% in February 2020. As the ecommerce sector continues to grow, businesses are turning to technology to gain a competitive edge and improve their online presence.
In this article, we will look at some of the key ways in which technology is helping ecommerce businesses to grow in the UK, with a focus on marketing tech, paytech, fintech, logistics and automation.
Embrace Martech and digital marketing
Martech software that automates some of the more tedious marketing tasks can be used to improve marketing campaigns. By automating these tasks, businesses can reduce the workload on their marketing teams and improve the consistency and effectiveness of their marketing efforts. Marketing automation tools can also help businesses to personalise their marketing messages, target specific segments of their audience, and track the performance of their campaigns.
Social Media Marketing: Social media platforms such as Facebook, Instagram, and Twitter can be powerful tools for ecommerce businesses looking to reach new customers and build brand awareness. With billions of active users, social media provides a vast audience for businesses to promote their products and services. Ecommerce businesses can use social media to create targeted advertising campaigns, share user-generated content, and engage with customers through comments and direct messages. You might
Email Marketing: Email marketing is another effective way for ecommerce businesses to reach their customers and generate sales. With email marketing, businesses can create personalised and targeted messages that are delivered directly to their customers' inboxes. They can use email marketing to promote new products, announce sales and discounts, and build customer loyalty through newsletters and other promotional materials. There are many ways to automate email marketing with various software packages; including some big ones like Salesforce or HubSpot.
Search Engine Optimization (SEO): Search engine optimization, or SEO, is the process of optimising a website to improve its visibility in search engine results pages (SERPs). SEO can be a powerful tool for ecommerce businesses looking to increase their organic traffic and drive sales. By optimising their website for relevant keywords and phrases, businesses can improve their search engine rankings and increase their visibility to potential customers. There are plenty of SEO optimisation software out there. Just google ad you are bound to come across something that meets your SEO needs.
Utilise Paytech to grow your business
Paytech, or payment technology, refers to the technology used to facilitate online payments. In the context of ecommerce, paytech plays a crucial role in ensuring that transactions are secure and efficient. There are a number of paytech solutions available to ecommerce businesses, including payment gateways, digital wallets, and mobile payments. Fena is one of them - we offer easy to integrate account-to-account payments with affordable fees of 0.3%.
Here are some examples of paytech types:
Payment Gateways: Payment gateways are online services that facilitate the processing of online payments. They act as an intermediary between the customer, the merchant, and the bank or financial institution that processes the payment. Payment gateways provide a secure and reliable way for businesses to accept payments online, and they are essential for any ecommerce business looking to grow.
Digital Wallets: Digital wallets are online accounts that allow customers to store and use their payment information for online transactions. Digital wallets provide a convenient and secure way for customers to make purchases online, and they are becoming increasingly popular with ecommerce businesses. Examples of digital wallets include PayPal, Apple Pay, and Google Pay.
Mobile Payments: Mobile payments are a type of paytech that allows customers to make payments using their mobile devices. Mobile payments can be made using a variety of technologies, including Near Field Communication (NFC), QR codes, and mobile apps. Mobile payments are becoming increasingly popular with consumers, and they are a key area of focus for many ecommerce businesses. Fena offers mobile QR code payments for both online and in-person purchases.
Try out tech-enabled operations
Operational tech, or Optech, is a term used to describe a range of technologies and solutions that are used to improve operational efficiency in ecommerce businesses. Optech solutions can be used to automate and streamline key operational processes, such as order fulfilment, warehouse management, accounting or supply chain management. By implementing Optech solutions, businesses can reduce costs, improve productivity, and enhance the overall customer experience. Examples of Optech solutions that are popular with ecommerce businesses include warehouse automation systems, inventory management software, and shipping tools.
More details below:
Order Management Systems: Order management systems are software solutions that allow ecommerce businesses to manage their orders and track their inventory. These systems can help businesses to improve their order fulfilment processes, reduce errors, and streamline their operations. Fena offers order management under our brand new product Fena Business Toolkit. Fena Business Toolkit is not limited to order management only - it allows order generation, dispatch management, inventory management and more.
Shipping Software: Shipping software is a type of logistics solution that can help ecommerce businesses to manage their shipping processes more efficiently. Shipping software can help businesses to compare shipping rates, print shipping labels, and track their packages in real-time. Examples of shipping software that are popular with ecommerce businesses include ShipStation, Shippo, and Easyship.
Package Tracking Tools: Package tracking tools are a type of logistics solution that allows businesses to track their packages in real-time. These tools can help businesses to improve their customer service by providing customers with up-to-date information about the status of their packages. Examples of package tracking tools that are popular with ecommerce businesses include Tracktry, AfterShip, and Parcel Monitor.
Accounting Software: Accounting software can be a powerful tool for ecommerce businesses looking to manage their finances more efficiently. Accounting software can help businesses to track their income and expenses, manage their cash flow, and generate financial reports. Examples of accounting software that are popular with ecommerce businesses include QuickBooks, Xero, and FreshBooks.
What else to consider
Automation in general has become increasingly important in the ecommerce sector, as businesses look for ways to streamline their operations and reduce their costs. There are a number of areas in which automation can be applied to ecommerce, Those include customer service or warehouse management.
Customer Service: Automation can be used to improve customer service by providing customers with quick and accurate responses to their queries. Chatbots, for example, can be used to answer common customer questions and provide support to customers 24/7. This can help to reduce the workload on customer service teams and improve the overall customer experience.
Logistics and Warehouse Management: Logistics is a key area of focus for ecommerce businesses, as it plays a crucial role in ensuring that products are managed in a timely and efficient manner. There are a number of logistics andwarehousing solutions that ecommerce businesses can use to improve their delivery processes, including warehouse management systems, inventory forecast software, and automated label printing tools.
In conclusion, technology has become increasingly important in the growth and success of ecommerce businesses in the UK. By leveraging technology solutions in areas such as marketing tech, paytech, fintech, logistics and automation, businesses can improve their online presence, streamline their operations, and provide a better customer experience. As the ecommerce sector continues to grow, businesses that embrace these technologies will be better positioned to succeed in a highly competitive and rapidly evolving industry.