Essential Ecommerce Resources

Domain name? Hosting account? Dreams of riches? The basics are in check and you're ready to jump in the ecommerce game. It’s exciting, fast paced and competitive. It’s also a tough arena to gain success in. Anybody can start an ecommerce site. But how will your site stand apart from the sea of millions and retain a loyal consumer base? How will you grow? A steady stream of resources and tools are essential. Here are some tips to help you on your way.

How will you get paid? The options are plentiful and require careful consideration for your specific business model. Option one is a true merchant account. A merchant account is solely yours and must be granted through a processing bank. The merchant is completely responsible for the account, including gateway access.

Qualifications can be steep for a true merchant account and you must be a legally registered business to apply. Like anything credit related, the merchant's credit score will determine factor eligibility and rates. If your site has low transaction volumes, a merchant account may be too costly as fees are incured with minimal usage. While a merchant account gives you complete control it can be difficult to obtain and costly to maintain.

A popular and less expensive alternative is third party processing. Essentially the merchant is able to utilize the true merchant account of a third party. Paypal.com is perhaps one of the most widely recognized third party processing companies. In lieu of a credit check, only identity verification is required. Third party processing is easy to integrate with an existing website by adding a few simple lines of code. In other words, no programming knowledge is necessary. Third party merchant accounts rarely require any sort of contract or commitment. If you are just starting out, the ease of use, low cost and flexibility of a third party merchant account can be a terrific asset.

Know your customers. It seems elementary but is not as easy as it sounds. Most websites have a conversion rate of 2%. What does that mean exactly? Only 2 out of 100 visitors to the site actually make a purchase. Learning what the other 98 visitors are doing and why they didn’t perform a transaction is necessary in order to grow your conversion rate. Most web hosting companies offer a plethora of statistics included in your package. It would be nice to have a single magic tool to learn why visitors to your site don’t make a purchase. Unfortunately such a tool doesn’t exist. The best way is to simply ask. The key to getting accurate and helpful feedback is to inquire in a non-obstructive way. It may sound old-fashioned but the old adage stands true; you won’t know if you don’t ask.

Make them feel secure. Internet consumers need to feel secure in all phases of the transaction. The protection of their financial and personal information is paramount. All ecommerce sites must meet four requirements: privacy, integrity, authentification and non-repudiation. Most sites leave the mechanics to their hosting company but it’s very important to understand the basics.

Customer service is still king. When we shop we like to know the merchant is available to answer questions and assist us with all phases of our purchase. We might not need a sales person but it’s nice to know the option is there. Ecommerce customer service software has become a necessity. Implementing solutions to immediately assist customers with live interaction is a sure-fire way to acquire repeat customers. Internet consumers are savvy. Immediate satisfaction is matched only by the demand for accurate, real time information.

Hop aboard the ecommerce marketing train and don’t buy a one-way ticket. If you want to stay afloat, a multifaceted marketing plan is the only way to survive. Webmasters can no longer rely on a single action marketing philosophy. Craft a marketing plan that encompasses email, newsletters, blogs, link exchanges, search engine optimization, article database submission and cross promotion. Long gone are the days of marketing only to the consumer. A solid business to business marketing plan has become essential in the ecommerce rat race.

Ecommerce resources are plentiful, the solutions robust. Create your own excitement and commit to the long haul. Weathering growing pains can lead to big gains. Success and longevity are attainable once the fundamentals have been implemented.