If you are considering setting up an online business, there are many problems that e-commerce sites face before the end of their first year, and you should know the best ways in which to solve these problems before you open for business. Here are some of the most common problems for online stores and how you can attempt to combat them.
Delivering a Successful E-Commerce Platform
Although receiving payment and allowing customers to make purchases is the main aim of an e-commerce website, many businesses fail to ensure that their commerce platform is accessible and successful. Your e-commerce platform should be easy to navigate and use, as this will limit the amount of cart abandonment through lengthy payment processes and technical difficulties. You should also ensure that you are able to process multiple payment methods, such as Apple Pay and PayPal. If you are looking for a secure and easily navigable e-commerce platform, choosing a platform such as B2B Ecommerce Websites to allow you to open new channels of revenue, promote your branding, and create a secure storefront from which to do business.
A Lack of Security Measures
Security measures are vital both to protect your business and your customer’s details from cyberthreats, as this will limit the number of hackers and fraud on your website as well as ensuring that your customers can trust your website. You should ensure that you create an online identity verification system for your website, such as sending a verification email, and you should also take active measures such as checking suspicious activity such as unusually large orders.
Forgetting to Utilize Social Media
Social media is one of the biggest promoters of websites and e-commerce platforms and utilising these can ensure that a wide range of people know about the benefits of your website and the products that you provide. To do this, you should create a social media page for your website and create easily shareable content and promotions which can attract attention. You should also link your website to social media by installing buttons which link to your live feeds as this allows customers to keep up with your latest updates.
Issues with Refunds and Returns
Serial returners and issues with refunds can seriously damage a businesses’ revenue as the cost of shipping can be extremely high and customers desire easy returns when looking to invest in a businesses’ products. You can sort this by establishing a firm returns policy and ensure that this is prominent on your website and when orders are placed, such as in a FAQ. You should also provide more than one option for shipping and returns so that your customers can choose the option that is best for them.
Competition with Other Online Retailers
Small online businesses will not always be able to get the prices of larger businesses who can buy in bulk or offer free shipping. To combat this, you should aim to provide unique products that customers will be willing to pay more for or find resourceful ways to ship and buy your stock.