eCommerce myths busted

With the growth and popularity of internet over the years many e-commerce business solution have come in to market offering different products and services. For a normal person, the face of business is just a site which made them to presume is internet is an easy way to get going.

E-commerce website is the complete online business:

The most crucial misconception of many start-ups on e-commerce is that “setting up a good looking online portal with various products, shopping carts and payment options is the complete business”. However this is just a part of the online business process, many other internal processes should be setup for running a successful e-commerce business as detailed below.

1. Supply chain: A detailed plan on the flow of goods and services should be planned which involves product vendors, delivery management, financial transaction on the payments and settlements to vendors and payment receivables from customers. This also includes the plan for stock keeping models like Just in time etc.
2. Customer service: A well planned customer support should be established who should take care of the queries of customer and serve them better through all the channels over call centre, online chat and through social media.
3. Continuous research: Online business is very dynamic, business should offer customer specific, culture specific and regional specific services through thorough research. Offers like diwali specials, world cup special offers will help to boost the growth.
4. Be unique: Offer services which are unique to customers from your competitors like delivery on the same day, replacement offers etc.

Online payment is easy:

1. Online payment helps people to make transaction over various channels on the go after selection of products; however business should take utmost care on online payments as they tend to fall for online frauds like phishing etc.
2. Industry wide practices should be taken care on the payment gateway like ISO27001 certifications, PCI DSS compliance.
3. Transactions settlement: Business owners should have plan to keep their own payment gateway or outsources the same to payment processors and payment supply chain should be established (Banks – Customers – Business – Vendors).

Customers will automatically find our website for purchases:

1. One of the critical myths is that “customers will directly come to the site through search engines and visit the online store for purchases”. Similar to brick and mortar stores, marketing of the business should be performed, but in a different channel. “Web marketing” models should be initiated and some investment should be made to make the website reachable to customers like Google AdWords, advertisements in YouTube etc. A detail marketing plan is required to reach out the targeted customers like ad display though cookies etc.

Ref: eCommerce solution provider India