Nowadays, ecommerce is on the rise, online sales aren’t negotiable. Customers want to have shopping by staying at home. This way it will most probably leave you with a big loss for your business if you do not have your business registered with an ecommerce store. There are tons of advantages to running your business on ecommerce stores. In this article, we will briefly discuss the process and benefits of running businesses in ecommerce stores. Let’s get started!
Analytics of Customer Purchases
It is not possible to trace sales analytics for traditional businesses. There is no way to know who purchased and most of the customers hesitate to share their private information before leaving stores. Retail shop owners can gain info about things such as inventory of stocks, but using web analytics can give you more details.
All kinds of helpful data can be obtained from online retailers by utilizing online tools, including:
Page Visits:
This will help in determining how many times a customer visits a certain page on your website.
Estimated Time Consumed For Purchasing:
Get details about how much customers spend time on your website for product purchasing.
Immediate Exit Rate:
How many customers come to your online store but exit right away without checking out other products on your website?
Incomplete Purchase Data:
Obtain details about how many times a customer leaves without finishing buying something.
Repeatedly Bought Together Products:
Which items do customers usually buy together at the same time?
All these details are essential for how you operate your business. For instance, if you notice that customers usually buy specific products, let’s say candles, then you can start promotions or sales based on this trend.
Moreover, you can use custom candle boxes at wholesale rates too in order to give your customers an everlasting experience, when they make a purchase of your product.
Choosing Your Small Business Ecommerce Platform: What to Consider?
Ecommerce platforms vary, with options like DIY templates or partnerships with industry leaders. What suits one brand might not be right for another, so consider these factors when comparing the advantages and disadvantages of each.
Pricing, Costs, and Extra Fees:
Many small businesses can’t spend endlessly on a website. So, the cost of an ecommerce platform is a big factor to think about. But remember, the upfront price may not reveal the full picture.
Be careful with platforms that seem super cheap at first. Some might end up costing you more later on. Watch out for these hidden fees.
- Website Names
- Website Service Fees
- Safety Protocols and PCI Compliance
- Site Skins
- Extensions or Plugins
- Web Hosting
- Card Payment Handling
Fortunately, lots of online shopping websites give you a chance to try them for free. It’s like a test drive to see all the things they can do. Check what features come with the regular payment and make a list of what your business really needs. This way, you can find the ecommerce platforms that match your goals the best.
Safety Measures
When you run an online store, you handle important information like customer addresses and credit card details. It’s crucial to handle this information responsibly and securely.
Yet, some platforms might not offer sufficient basic features. While many include an SSL certificate, ensuring proper protection may require extra software or investing more in your own infrastructure.
To take payments online, your business needs to follow PCI rules. If not, you could face fines, lose customer trust, or be unable to accept payments due to fraud-related issues.
Transaction Service Charges:
Credit card transactions on ecommerce platforms often come with hidden fees. Shopify, for instance, charges extra fees for third-party payment providers, adding up to 2% per sale. When choosing a platform, seek flexibility with minimal transaction fees.
Website Skins:
Starting with a free, generic theme is fine for a new business. As your brand grows, consider a custom design, but be aware that some platforms may charge extra for this. Many offer basic free themes but advanced ones can cost up to $200. Using a custom interface might require paid access or hiring a third-party designer. To save costs, choose a platform with a range of free themes for creative freedom in designing your website.
