If you want to guarantee ongoing business opportunities, the best investment you can make this year is in an e-commerce platform. The companies that already had this asset during the 2020 COVID-19 lockdowns had fewer operations problems, especially when they had shipping capabilities.
The start of that digital transition begins when you select an appropriate e-commerce platform for your business.
You have five options to consider today.
1. Build Your Own Platform
If you already have a credit card processor and some coding knowledge, you can build a website from scratch. You’ll get notifications for each purchase, have daily batch runs, and avoid some of the costly rental fees.
2. Use a Traditional Platform
When you select this option, you’ll purchase an upfront licensing fee to use an existing resource. Your team can start customizing and building what you require on top of that platform.
3. Find an Open-Source Platform
This choice works well for companies that need to start small or have a tiny budget. You can adapt the platform to meet your needs without worrying about licensing requirements, but it also requires more upgrades and development work to create what you want. There isn’t any help except through third-party resources.
4. Cloud-Based Platforms
If you use this option, you’re getting a hybrid support model where your information gets stored on third-party servers. You have less cost and risk upfront, but there are also ongoing fees you’ll need to consider. If something happens to those offsite servers, there would be no way for your customers to buy anything.
5. SaaS Platforms
This choice allows you to build an e-commerce platform on top of an individualized code base. Everyone uses the same technology while paying a monthly fee. Most options in this category come with a payment processor so that you don’t need to form another relationship.
Each one has specific pros and cons to consider, so you’ll want to select the option that delivers the most value.