Internet Retailing Expo is one of the largest events in the UK and in the entire EMEA region, that deals with all the aspects of eCommerce. This year, the event will feature many speakers, there will be certain workshops, and the exhibitors that come from all around the globe.
One of those will be Kooomo, a SaaS eCommerce platform that quickly becomes one of the most relevant players on the market.
Kooomo helps its clients maximise the effects of all sales channels on a global scale, and it does so by combining the next-generation eCommerce platform with the expertise in the field that has been established via more than a decade of constant development. The end result is an affordable and proven eCommerce solution that brings together all the pieces of an eCommerce puzzle needed in order to achieve success. This approach has been also recognised by the fact that the Kooomo has been placed in Gartner’s Magic Quadrant, which reaffirms it as one of the leaders in its niche. A flexible revenue share pricing model makes sure that there is always a drive to improve and succeed. The extensive network of partners that incorporates companies that bring the world-class technologies to the table, all of the Kooomo’s clients are enabled to constantly stay up to date with the evolutions on the eCommerce market. The companies that use Kooomo as their platform of choice come from various verticals of digital retailing. Some of the most prominent ones include: Blauer USA, Havaianas, CP Company, Avoca, Butlers Chocolates, Miss Bikini, Morrisons, and Nutmeg.
Studioworx as a key partner to Kooomo in the UK will be joining their team at the IRX 2019 in order to present some of the most successful cases and strategies implemented in order to achieve success.
Along with us, there will be representatives of two technology partners of Kooomo – Scurri and Found It.
The main reason for a joint presentation during this event is the new approach that Kooomo provides for globally run multichannel and omnichannel operations. The key factor is the unified platform which allows the control of all channels and all geographies from a single spot. By full control, we mean the absolute control of every aspect of the eCommerce business.
The approach will be explained in detail and will consist of the following steps:
• Devising a strategy
• Solving problems in the supply chain
• Full localisation
• Integrating local payment methods
• Personalisation and promotions
• Integrating marketplaces
• Measuring the results
Devising the right strategy for expansion
The most important step is always making a battle plan. The global market is strong, and all of your major competitors are there already. In order to be successful, you need to carry out extensive research of all the relevant data that could determine whether your endeavour will be a successful one or not. Blindly rushing in is not the right approach.
After gathering as much data as possible about the competition and the targeted markets, you do need to devise the right business plan. Your technology needs to support your goals, and that is an aspect that needs to be considered not just in terms of the present, but in terms of the future requirements as well.
Only if you have the technology that will allow you to drive your business across the geographies and the channels you wish to engage will you be successful!
After that, you need to set the goals. Although it is hard to predict the actual effects of your presence on a completely new market, some goals need to be set. They will change over time, but you need a reference point straight from the beginning.
Supply chain issues
Cross border sales can be tricky from various points of view, but the supply chain is a mandatory element that you simply have to have in order to be able to sell. Faulty or not efficient enough supply chains result in longer delivery times, and that is something that could easily make your offer uncompetitive. You need to sort this issue in a way that will allow your shoppers to be served in the shortest time possible and with as much insight in the delivery process as possible.
The easiest way to pursue this issue is through using Kooomo’s ecosystem of shipping and delivery partners. As all of these options are already integrated into the platform, solving all the problems with your supply chain should be more than easy and will require minimum effort from your side.
Although many are looking at global digital commerce as a simple thing in terms of localisation, this is as far from the truth as possible.
The need to fully localise your presence on any new market is real. People are more willing to buy if you address them in their own language. Even more importantly, not all of them speak English, which is usually used as the main language on eCommerce websites. If you wish to dig deep into any market, you need to localise your content and make it comprehensive to the targeted audience.
Also, in order to present the real expenses and the real value of your goods, you need to express that value using a local currency.
Finally, the VAT rates are not the same in every country in the world, and you need to calculate those in if you wish to present your potential customers with the real cost of your sold goods.
All of this is easily achievable with Kooomo’s core features and through the ecosystem of partners. The different VAT rates and different currencies for different markets are available as the native feature of the platform, and the translations in order to achieve full content localisation are available through the partnering agencies which provide translation services on several different levels.
Local payment methods
Allowing your shoppers to pay for the goods using the payment methods they are used to is the key. Although the major payment methods such as VISA and MasterCard are pretty much in use everywhere in the world, there are markets that are quite specific when it comes to payment methods. People there simply prefer something else, and you need to answer their preferences by making these options available.
Kooomo brings those options to the table easily and with minimal effort. The partners in the ecosystem that are in the payment processing industry are fully capable of providing any payment method for your online store. This will allow you to maximise your conversions and avoid losing customers because shopping with you would require an extra effort from their part.
Personalisation and promotions
In order to really be successful, you will need to provide a personalised offer to your customers. The key is to offer them the products they are most likely to buy at the right time, and giving them the right motivation to act as quickly as possible.
Of course, this approach wouldn’t be possible without an advanced engine behind it, as people are not the same. Kooomo provides certain personalisation features as the part of their core features, but there are also partners that provide even deeper personalisation, so the evolution in these terms is quite possible and easily feasible.
A comprehensive promotions management is another aspect of digital retailing that has a key value and that directly determines the rate of your success.
There are certain dates that can be used for pushing promotions aggressively across all channels, and running this from a single control point is an advantage that could yield huge benefits for your business.
Kooomo provides exactly that!
The largest amount of sales happens on marketplaces. Amazon and eBay are the leaders in retail for years, and this is something that is not likely to change in the near future. It is more likely that the trend of marketplaces dominating digital commerce will continue and become even more significant.
This is why you definitely MUST create your presence there! Of course, running your business on marketplaces and in a dedicated online store as separate operations is something that would require a huge amount of work hours and would segment your business in a way that would cause an entire myriad of problems.
It would be ideal if you could do it all together, running the marketplaces and the dedicated store all from one place. If you wish to run your business on a global scale, and use marketplaces in different countries at the same time, the danger of creating a huge amount of chaos becomes even more severe.
This is where Kooomo comes as a natural solution to all your problems! Since this platform allows running a business both in a dedicated store and in multiple marketplaces all from the one place – it is simply ideal for such a complex operation.
The very fact that the marketplace connectors are directly integrated into the platform as a native feature makes it all even easier. The complexity of the entire ordeal is brought to the minimum due to this feature, the stocks are unified, and you are able to run everything from a single spot, with the minimal effort invested, and with no chances of creating chaos instead of expanding your operations.
Since the entire expansion on marketplaces is seamless and straight forward, this is the feature that will allow you cover every aspect of retailing in any new geography and to optimise your presence in the geographies where you have already established your business.
Measuring the results
Any result is only worth anything if you can measure it. Losing time and resources on anything that can’t be measured is futile, and never leads you to a good place. This is why reporting is of paramount importance.
With the measuring and reporting options that Kooomo platform provides, you will be able to measure your results with precision, and that will make your future decisions as good as they can get.
If you have a complete set of data regarding the performance of certain channels you are using, you can easily notice the flaws and the good aspects. This understanding will give you a clear picture of where you need to go with your future efforts in order to succeed.
These measurements become more complex and deriving the right conclusions becomes harder when you are pursuing multiple channels in different geographies.
This is where Kooomo is essential for your success. Since the reporting is segmented by channels, and everything is run from a single spot, you can easily notice where the improvements are needed, and what gives positive results. Easy management of the channels allows data collected from the reports to be translated into the right decisions, which are then easily implemented from that very spot. Of course, the next set of measurements will provide the results of the changes made, and you will be able to further optimise your operations.
The important thing is that the measures are being taken locally, from every individual channel separately, and then provided in a unified report. This nearly eliminates any space for error.
If you carry out all these steps carefully and keeping your goals in mind, you will be on the right way to success!
Same as with anything other in life – the experience is often the key to success. Since Studioworx is highly experienced digital agency when it comes to the digital commerce based on Kooomo platform, it is a natural choice for all those who wish to reduce the risks and to be sure they have hired the best to do the job.
As a UK digital agency partnering with Kooomo, we had the chance to complete 15 projects based on this platform up to date, and we were able to test and try different approaches in order to deliver a successful product in the end.
If you wish to discuss further and to find out what exactly Studioworx and Kooomo could offer your business together, we will be more than happy to answer all your questions on stand H65 during IRX 2019!