Why is time to market important for your eCommerce website?

How you can improve it? 

Speed is of the essence in the marketing landscape, especially when you are busy operating an eCommerce platform alongside trying to experiment with different digital marketing techniques. The goal is to bring the product, services, marketing campaign to the target audience quickly and effectively.  The time to market, as this is called, is an important factor as it gives the business a competitive edge. It includes everything, right from ideation to execution of a certain strategy, product to the consumers.  

E-commerce is a competitive field, which is why it is important to have a decreased speed to market for the business to stand out of the crowd.

Let us look into the benefit of a reduced time to market: 

• You will be the first to roll out an innovation on the opportunities and provide solutions to the challenges faced by the consumers. This will build and strengthen your eCommerce website’s credibility in the marketing landscape.  
• You can control the market by improvising on the strategies and yielding benefits from implementing new marketing materials.  
• You have a window of opportunity open for you to experiment, leverage, and steer ahead with your reduced time to market 
• With your new innovation, you will be able to not only retain the existing base of customers but also reach out to the audience of new demographics, thereby widening your consumer base 
• You will be deemed as an industry leader with your innovation being used by the other businesses to work in their favor. 
• You will be dominating the market with increased profitability and higher shares 

But what are the factors that come into play when you want to improve your time to market? 

• The willingness to change while you innovate 
• Launching the product to the right audience at the right time at the right events 
• Optimum utilization of resources- be it capital or labor 
• Making the product/ service available to the audience in a quick and efficient manner 

So how can you improve your time to market for your eCommerce website? 

• Optimize your time to market by automating the workflow. Not only this minimizes the possibility of human errors but also improves the communication between the team. Your teammates won’t be any longer confused about the task they have to perform.  
• Data and communication among the different departments are crucial in the product development cycle or marketing campaigns. Integrating all the systems and tools in one place will minimize the possibility of delay and significantly save on the resources, workforce, and time.  
• Be transparent about the operation cycle and the information exchange. Giving the freedom of traceability will boost the communication between team members which will improve the time to market.  
• Gather, share, exchange information in real-time. This way any change made in the product will reflect in real-time and will thus increase the speed to market.