Five Hidden Costs of Ecommerce That You Should Know About 5.
It was a success!
You designed the perfect digital program, designed an impressive website and are planning to promote your brand new venture. You've also set up your social media accounts for a devoted following. You're ready to take the world of digital media with you.
One thing. How do you plan on selling your software?
It is tempting to attempt to construct an online store on your own instead of purchasing an online platform. There are a lot of things to consider including processing payment transactions, shopping cart experience, delivery of products, chargebacks as well as tax/VAT compliance. You'll find yourself having trouble trying to manage it all.
There are plenty of ecommerce tools and platforms available that can help you run the running of your business. But finding the right fit to your needs will require some research.
We're happy to assist you! Find out the five online store costs that aren't obvious and you should know.
1. Customization
Your website's shopping cart is an extension of your brand. Based on research by Kissmetrics, 93% of consumers consider visual appearance to be the most important factor when making the purchase decision. However, creating a compelling shopping experience that entices customers to purchase is a daunting task.
An ecommerce platform can help to create your own storefront Be wary of them if they require you to utilize a clunky, rigid non-branded and unprofessional customer experience. There are some solutions that will charge you for upgrading to a customized storefront. There's no need to go like this!
2. Maintenance
Keeping your ecommerce website functioning requires regular maintenance. It's an ongoing task to ensure that customers are able to make purchases on your website regardless of where they are in the world and on any device. A customer's likelihood of having to leave your site is increased by 90 percent when the site is taking more than five seconds to load. The right ecommerce platform will help with this your behalf, allowing you to concentrate on the other aspects of your business.
3. Tax/VAT
Apart from a full-time tax expert, nobody has enough time or the patience to become an expert on taxes in the United States and internationally. If you're hoping to take benefit of the booming international economy and want to take advantage of the global economy, you must accept transactions across the globe. Customers feel more comfortable paying for digital products when the transaction happens within their country and language, that the correct taxes are accounted for. Without an appropriately equipped ecommerce platform, you'll end up spending lots of precious time and money making sure your business is tax compliant.
4. Fraud
It's important to recognize that fraud is an issue of serious concern for ecommerce businesses. The types of fraud are numerous in e-commerce companies. It is important to be aware of what you should be looking for: credit card transactions that are not present, risky method of payment, untruthful or misleading vendors, excessive chargebacks, identity theft and many more. This isn't meant to scare away from starting a business, however, it is crucial to do everything you can to ensure your company's security. A good e-commerce platform should have built-in features to protect your business from fraud.
5. Resources in-house
Controlling the online aspect of your company takes a lot of resources. It takes true dedication coupled with an investment of time, money, and time. The result is that you will spend an enormous amount of your budget on building and maintaining an ecommerce experience all on your own as well as keeping it up and running after the project is completed. You'll be amazed at what you can get for your money by outsourcing the heavy-lifting of running your business's online sales. Imagine all that additional time you'll be spending on developing innovative products, or entering new markets!
The truth is that running an effective e-commerce site requires a lot of work. Luckily you don't have to do it all on the shoulders of your. Full-Service ecommerce platforms like enable your digital business to build the best e-commerce experience possible and expand your business.