Efficient, easy-to-use, and effortless payment processes are some of the needs consumers expect from businesses. This objective can be achieved if digital solutions become part of the business undertakings. Research from some of the most reliable studies shows that two-thirds of the people across the world are currently using a smartphone and other digital devices to sell or buy products/services. It, therefore, implies that business owners ought to implement eCommerce channel/options if they need to move along with the emerging trends.
Implementing an eCommerce platform is not always a walk in the park as it comes with a host of challenges. Both large and small businesses have been encountering issues like unreliable systems, an absence of right software, and checkout concerns among others. All these issues form part of the reasons why online buyers abandon their purchases.
“Since shoppers require a seamless experience, it is essential that businesses up their digital solution game,” said Issa Asad Florida entrepreneur and businessman since 1996. Mr. Asad is the CEO of Q Link Wireless and Quadrant Holdings, located in South Florida. He is also the author of 4 e-commerce and marketing e-books that can be purchased on Amazon.
In light of this, here below are 3 things to think over before implementing ecommerce in your business:
1. Make sure transactions are secure
Anything involving customer data and money is the primary concern for anyone dealing with online transactions. That means payment methods and services should comply with the required security standards. The first, therefore, is to check if the providers you are about partner adhere to industry standards. If you will be accepting card payments, again, you need to be aware of chargebacks and fraudsters. For many years now, businesses have been incurring huge loses in favor of cardholders when a dispute arises due to fraudsters. In light of this concern, it is imperative that your provider offers chargeback and fraud prevention services.
2. Minimize fees and costs
One of the reasons why small businesses are reluctant to implement eCommerce is because of the cost associated with the channel. For instance, card companies often charge something between 1 and 3% for each transaction while some digital payments supporting card transactions charge exorbitantly high. Others like the Crypto payments charge lower rates, but you will incur additional commissions and fees during the exchange transactions. Since most payment services are offered with a tiered changing based on the transaction volumes, it is required that business owners shop around different firms to find the best locality option. Take time comparing their rates and costs to see which one gives the best value.
3. Make your eCommerce shop easy to use
We are in an era where online shoppers want interfaces that are easy to use and offer speedy experiences. If this is well taken care of, then there is no doubt that you will have to enhance checkout rates. The interface should as well come with an array of functionalities like reporting, dashboard, invoicing, inventory management, and bookkeeping integration. Concisely, the e-commerce channel you choose should offer an easy-to-use and frictionless shopping.