This is a guest post by Sonia Varkey from Kyozou.
You have probably heard about ecommerce multi-channel inventory management and are busy and overwhelmed running your online business that you don’t have the time to carefully consider it. Those are the exact reasons you should consider incorporating software into your online sales process. Because you are so busy, we want to provide the top benefits of multi-channel inventory management.
Automation takes repetitive steps that consume time and processes them quickly through software. What a staff member can take 20 minutes to do, software can do in a few seconds. Apply this across most of the sales process and you’ll quicken how long it takes from when a customer hits the buy button on your ecommerce store to them receiving their purchase.
Efficiency in Sales:
Once a customer decides to purchase from you and proceeds to check out, what happens in the background can be a lot of steps. You may have staff who have to review all the orders and find the inventory, pack it, print labels, organize shipping and adjust quantities. With automation, many of these steps are instantly done.
Imagine the efficiencies you gain when your staff walks in on Monday morning, orders and labels are printed saying where in the warehouse to pick the item, shipping discounts are calculated so that the best rates can be applied and inventory quantity has already automatically been adjusted, just waiting for the next order to come through.
Increased Customer Satisfaction Levels:
With the correct inventory levels listed online, a customer’s expectation will be met when a product they clicked to buy is purchased and delivered on time as per their expectations. If you don’t have that product for when they want it, they will go to another online store. It’s about meeting the customer’s needs for when they need it.
Also, if you have a great return policy and responsive customer service you could gain some positive customer reviews. These days, those reviews are important as they impact whether other online shoppers will buy from you or not. A positive buying experience can also help increase referrals to your website/webstore. Referrals convert better into a sale.
As you grow, you need to hire more staff to manage your business. They require training and can take hours to input each listing in all your marketplaces which costs you hourly wages. If someone is inputting the same information in several locations, that increases the likelihood for errors. With automation, the same routine tasks are made more efficiently. Software systems can instantly process lots of data at the same time and in many different locations saving your staff hours of work. This contributes to a healthy ROI when you compare staff hours to software minutes.
eBay rewards those with high turnover and low inventory errors. Shoppers look to buy from sellers with high feedback scores. It sets the expectation that their needs for an easy buying experience will be met, with less to no hassles. There are also is SEO tools built into software systems that work to ensure your website ranks in search engines. The higher you rank, the more people will click through to your store. Some tools also have the ability to link to shopping comparison sites so that your item can be seen and seen as competitive.
Software companies that are certified with eBay also work directly with eBay when changes will be occurring to make certain that those who use the software are operating according to changing requirements. When working with large online marketplaces like eBay and Amazon, it’s helpful to have your software provider step in where they can. This can save you time in navigating through what those changes mean and how will they really impact you.
Discounts with Providers:
Due to the sheer volume of orders being processed with many software providers, sellers can take advantage of shipping and insurance discounts. This impacts your bottom line and gives you access to discounts you may never have come across. Not cutting into your profit margins is an important feature of automation. While you may not be able to save on eBay and Amazon listing fees, you can find other areas to save on costs.
Data Based Decision Making:
Data allows you to interpret trends and plan for taking advantage of those trends. If there are cycles, you will know how to set up some sales for the next year or even prepare to have enough inventory to prevent over and underselling. With data, you can gather insights on efficiencies in your business including staff management, figure out bottlenecks and work towards running your online ecommerce business optimally.
Conclusion | The Benefits of Multi-Channel Inventory Management
Whether you’re a small online seller with growth plans or a large seller maintaining what you do have, Multi-Channel Inventory Management software can provide you with many benefits now and in the future. Many online sellers feel overwhelmed and busy, never having enough time to focus on the other things they want to do in order to grow. Automation can give you back time so you can focus on strategies. As increasing amounts of shoppers, feel more comfortable purchasing online, you want to be positioned to take advantage of this growth and be able to meet or exceed customer expectations.
If this sounds like something you want to learn more about, feel free to contact us at Kyozou.com and we’ll be happy to take a look at your current online store performace and provide some free consultations on what can be done to help increase your sales.