5 Hidden Ecommerce Costs you should be aware of 5 Hidden Ecommerce Costs You Should Know About
You did it!
You designed the perfect digital program, designed an impressive website and have plans for marketing your new business. You've even created your social media profiles to build a loyal fan base. It's time to take on the internet by storm.
One thing. What are you planning to do about selling the software you have developed?
It can be tempting to attempt to construct an e-commerce platform on your own instead of purchasing an ecommerce platform. However, there are many things to consider such as processing transactions, the customer experience when shopping, charges, fulfillment of the product, as well as tax/VAT conformity. You'll find yourself having trouble trying to manage it all.
There are a lot of online e-commerce platforms and tools available to assist you in running your company. However, finding the best one for you will take an amount of research.
Luckily, we're here to help! Check out five undiscovered costs associated with e-commerce you should know.
1. Customization
The shopping cart on your website should reflect your business's image. Based on research by Kissmetrics that 93% of shoppers believe that the appearance of their website is the key deciding factor in buying. But designing a dynamic commerce experience that encourages visitors to make a purchase is a tall order.
E-commerce platforms can assist to create your own storefront Be wary of them if they force you to use an unwieldy, rigid or unbranded user service. Certain solutions may even require you to upgrade to a fully customized website. 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 purchases on your website any time, on any device. It is likely that a user will quit your website will increase by 90% when the website takes up to five seconds to load. A good e-commerce platform can alleviate this load for you so you can be able to concentrate on other areas of your company.
3. Tax/VAT
Aside from a full-time tax expert, nobody has enough time or the patience to master domestic and international tax laws. If you're planning on taking advantage of the growing world economy, you need to accept payment across the globe. Customers feel more comfortable paying for digital products when they can pay in their native local language and in their currency, and also with the appropriate taxes accounted for. Without a well-equipped eCommerce platform, you'll end up spending lots of precious time and cash to ensure your business's tax compliance is met.
4. Fraud
It's important to recognize that the fraud is a major issue in e-commerce companies. Fraud comes in several forms for ecommerce businesses. You have to know what you should be looking for: credit card transactions that are not present, risky method of payment, untruthful or deceptive vendors, excessive charges, identity theft and additional. It's not meant to put you off from building a business, however, it's important that you take every precaution in order to protect your business. A good e-commerce platform should include features that will protect your company from fraudulent transactions.
5. In-house resources
Controlling the online aspect of your company will require a considerable amount of effort. This requires a lot of dedication, coupled with a significant investment in time, money, and energy. It will cost you a large amount of money building and running an online store by yourself, not to mention the maintenance once it's completed. You'll be amazed at how much you can save when you outsource the work of running your business's eCommerce. Think about all the extra time you'll end up using to develop innovative products, or establishing new markets!
The truth is that running a successful ecommerce website takes an enormous amount of effort. Luckily you don't have to carry the load on the shoulders of your. Full-Service eCommerce platforms allow your business online to develop an effective e-commerce experience and expand your business.