Thinking of Selling products or services online? eCommerce!
eCommerce or electronic commerce is the modern way to sell goods and services over the internet. Doing business online is something now available for Small and Midsize businesses, facilitating transactions through online payments, removing geographic barriers and allowing access to your products and services 24/7, worldwide.
Online Sales: Benefits and Advantages for Small and Midsize Businesses
eCommerce opens doors to small and midsize businesses to compete more effectively with larger companies, eliminating the need for physical storefronts, lowering rent, utilities and maintenance costs. Invoicing, inventory management, and payment processing are automated, helping companies reach a wider audience. Having multiple sales channels is something to consider, as new opportunities come by having access to online marketplaces like Amazon, Etsy, eBay, etc. in addition to your own sales portal.
The engagement with customers is increased exponentially, allowing businesses to evolve, faster and easily, moving from traditional retail to online transactions, improving operational efficiency, and growing your customer base and revenues.
eCommerce Platforms
There are several platforms available to choose from. Some of the most used and best suited for small and midsize businesses are:
Shopify
A Canadian company and leading solution for different company sizes, one of the largest eCommerce platforms that operates globally. You can start your online store small and grow. Useful built-in tools for marketing, shipping, sales taxes, inventory, and many more are available.
WooCommerce
A WordPress compatible platform, headquartered in San Francisco, California but developed worldwide. This is an ideal alternative for those businesses that already use WordPress for their websites.
BigCommerce
An American solution headquartered in Austin, Texas and a good alternative for growing businesses, with strong Search Engine Optimization (SEO) and multi-channel sales.
eCommerce Essential Functions for Small and Midsize Businesses
These are essential functions that your business need to take into consideration when choosing an eCommerce platform:
Mobile Optimization
Sales through mobile devices available to customers is a must nowadays. Billions of dollars in sales are done through smartphones and tablets every year, world wide.
Secure Payment Gateways
There are many alternatives to allow your customers to process payments using debit and credit cards and other popular payment platforms like Square, PayPal, Stripe, etc. When choosing the payment gateway for your business, check processing fees and support.
Shipping
Offer multiple shipping options like UPS, USPS, DHL. Shipping is crucial for online sales. Amazon’s success is the fast and efficient delivery they offer.
Loyalty Programs and Personalization
Use customer preferences to offer products and discounts. Create incentives for repetitive purchases, such as points for frequent buyers and special pricing.
Encourage customers to leave reviews as social proof to build and boost trust.
Integration
Inventory management to have your stock updated, accounting and Customer Relationship Management integration is fundamental. Most of the eCommerce systems offer these tools and keep your business running seamlessly and efficiently.
Sales tax calculation in the United States is not easy, especially in states like California. Make sure that you implement proper management and control to comply with tax laws. If this is not properly handled, your company will be in big trouble.
Shipping products world wide needs close attention. Customs laws and regulations awareness is crucial, especially when shipping to the United States and the European Union. Certain products need special treatment and restrictions may affect delivery, incurring product and shipping fees losses and customer dissatisfaction, which will adversely impact your business reputation.
Final Comments
If you own a retail business or have a subscription model, you need an eCommerce solution. Tiered pricing plans are available, starting at very affordable monthly fees. Do you need help to implement or manage your eCommerce solution?
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