Ecommerce for Beginners
Entering into the ecommerce industry today has several different details to it but it is still easier than it was. So once you have decided on the product or service you will be selling online, you’ll want to think about your website. Today, due to the large amount of website development tools, templates and flexible software programs available today it is relatively a small task.
You can be as involved in the process as necessary, to ensure that the site comes out exactly the way you envisioned your business. These fore mentioned programs give you the opportunity to design your own website.
Hosting your website
So, now that you have a site, you want to make it accessible on the internet to the public. That means that you need to find a web hosting company which will provide you with space on server, internet connectivity, e-mail management, and other services. There are many that are free, but, as everything eventually has a cost, you will most likely be bombarded with pop-ups and ads that have nothing to do with your business. So, it’s better to pay for the service, and know that it’s all within your control. Prices will range from how many GB of web space that you will be taking up, how many email accounts you plan to have, or extra special features that you integrate with They usually charge a monthly fee, and it can be anywhere from $10 to a few hundreds a month.
We’ve now reached the most important part of your business, and that’s the payment solution. Being one of our areas of expertise, there are many things to consider when choosing your Payment Service Provider (PSP), and of course, we recommend using our solution because it provides you with the major currencies and payment methods, and it is customized for each merchant.
Today’s Payment Service Provider (PSP) should be chosen on behalf of several distinguishing factors. The first is reliability. Let’s face it – profits are the main concern of all merchants, and he who handles those profits should have extensive experience, as well as a reputable history of financial expertise and punctual payments.
Along with the solutions needed to start an online business, more work is needed to keep the doors open. There are financial concerns, merchandise, staffing and of course all the paperwork and the reporting that is left to do.
Some of the services that you should look for:
- Superior Security practices – You’ll want to make sure that the payment provider is PCI certified and practices all available security methods.
- Chargeback guarantee – You should have a guarantee against fraudulent chargebacks.
- Merchant account required or Vendor account – Depending on your business you should know if you need to have a merchant account or if the provider will take care of this and give you a vendor account.
- Multiple payment options – The more payment options that the provider offers, give you a wider and sounder customer base.
- Rapid account processing – This shows you that the provider is serious and has the resources to get your payment processing up and running.
- Superior Risk Management – These practices protect you against fraud and reduce the time you spend worrying about your business.
- Multiple Partnership packages – This is a good practice to look for because of increased traffic and increased sales possibilities. A company with these types of solutions is more likely to take an invested interest on how your business is doing.
Most of the stand alone providers will not or do not provide platforms with all these feature so you have to continue your multi-vendor usage.
Questions to think about…..
- Where are you trying to sell to? (Target Location) Depending on where you are trying to sell your product/service, you want to check on what the market in the area is in need of.
- What type of banking or financial institutions will you need to work with? Depending on the location, the banks and financial transaction are handled differently. And working with the major credit card companies there are requirements that you’ll need to meet.
- What type of Account/s will you need? There are different accounts available depending on the business model of your company or even as a sole trader. With some providers you will need to arrange a merchant account and others they will set up a vendor account for you so you don’t need to take the time.
- What type of services are you looking for? You will need to figure out what services you will need from your providers, whether it’s a hosting provider or payment provider.
- Refund policies or guarantees? To enter the ecommerce community you’ll need clear and fair policies and guarantees to offer your customers.
- How are you going to take care of marketing and driving traffic to your site? After you have you site up and operating, you will need to have it seen by the public and the more the better. So the more traffic you get to visit your site the greater possibility of higher sales.