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Are You Ready to Sell Online?
Ecommerce has turned into big business for retailers of every size, including huge major brands, national retail stores, small local stores, and individuals with virtual storefronts on auction sites like eBay. To be competitive in the ecommerce world, you must become a mail-order business willing to offer discount pricing and low-cost shipping. You'll also need fast and responsive service.
Processing Payments: On-Site vs Off-Site
One of the most important aspects of an ecommerce site is payment processing. It’s critical that you get this right because this is where your customers provide financial information. The data must be securely locked down while still flowing efficiently from your customer to the payment gateway to your bank. You have two major options: on-site and off-site. Each has its pros and cons, so consider the cost and benefits of each.
Keeping a Lid on Shipping Costs
Ecommerce is about convenience and getting a good deal, but high shipping costs are the number one reason for consumer dissatisfaction with the online shopping experience. Shipping is complicated because there are so many variables, but you can simplify the process by offering flat rates, tiered rates, or live rates. However, consumers are expecting free shipping from online stores more often, nowadays.
Managing Customer Ratings and Reviews
Online ratings and reviews are a powerful influence on purchasing decisions. According to the Pew Research Center, 82 percent of U.S. adults at least sometimes read online customer ratings or reviews before making a purchase, while 40 percent always read them. You need to be proactive in managing your online reviews, which includes thanking reviewers, responding to questions, and fixing problems promptly.
Securing Your E-Store
To compete against the big online brands like Amazon, you need to make your customers feel that their financial information is safe and secure. There are several levels of security you can embed in your ecommerce site. There are also several best practice processes you can employ to give your customers and yourself some peace of mind.
Need Business Insurance?
For more than 200 years businesses have trusted The Hartford. We can help you get the right coverage with an online quote.