5 Hidden Ecommerce Costs you should be aware of 5.
It was a success!
You designed the perfect digital application, created an attractive website, and have plans for marketing your new business. You've also set up your profiles on social media to create a audience. It's time to take on the world of digital media by storm.
Only one question. How will you go about selling your software?
It can be tempting to try to build an e-commerce platform at your own expense instead of purchasing an ecommerce platform. However, there are many things to consider such as processing transactions, the shopping cart experience, product fulfillment, chargebacks, as well as tax/VAT conformity. You'll find yourself having difficult time managing everything.
There's a myriad of eCommerce tools and platforms out there to assist you in running your company. However, finding the best one to your needs will require some research.
We're happy to assist you! Find out the five undiscovered costs associated with e-commerce you should know.
1. Customization
The shopping cart on your website should be an extension of your company's brand. According to research conducted by Kissmetrics that 93% of shoppers think that appearance is an important element in buying. But designing a dynamic commerce experience that entices visitors to make a purchase is a tall order.
A platform for e-commerce can help you build a storefront, Be wary of them if they require you to utilize an awkward, unresponsive or unbranded user service. Some solutions will even charge you for upgrading to a custom-designed storefront. But it doesn't have to be that way!
2. Maintenance
Keeping your ecommerce website functioning requires regular maintenance. It's a 24-hour job to make sure users can complete an order on your site from anywhere around the world and on any device. The probability a customer will quit your website will increase by 90% if the page takes up to five seconds to load. An e-commerce solution that is reliable will alleviate this load your behalf, allowing you to focus on other important aspects of your company.
3. Tax/VAT
In addition to a full-time fiscal professional, no one has enough time or the patience to master the tax laws of both countries. If you're looking to take benefit of the booming global economy and want to take advantage of the global economy, you must accept transactions from anywhere around the world. Customers feel more comfortable paying for an online product if the transaction happens within their country and language, accounting for the right taxes for. Without a well-equipped eCommerce platform, you'll end up having to spend a significant amount of time and cash to ensure your business's tax compliance is met.
4. Fraud
It's crucial to understand the fact that fraud is an issue of serious concern for ecommerce businesses. Fraud comes in several forms in e-commerce companies. There are certain things to watch out for, such as cards-not-present transactions, risky payments, untrustworthy or fraudulent vendors, large chargebacks, identity theft, and a lot more. This isn't meant to scare people away from establishing your own business. However, it's crucial that you take every precaution in order to protect your business. A good e-commerce platform should come with features built in to safeguard your business from fraud.
5. Resources in-house
Managing the online process of your company takes a lot of resources. It requires dedication and commitment, paired with a heavy investment of time, money and time. It will cost you much of your budget on building and running an online store by yourself as well as keeping it up and running after the project is completed. It's amazing what you can get for your money on the burden of managing your businesses' ecommerce. Imagine all that extra time you could be investing in developing new products or establishing new markets!
It's not a secret that running a profitable ecommerce site takes lots of effort. It's good to know that you do not have to carry the load on your own. Full-Service eCommerce platforms allow your business online to develop the best e-commerce experience possible and expand your business.