5 Hidden Ecommerce Costs you should be aware of -
You've done it!
You've designed your perfect digital application, created an impressive website and you have plans to market your brand new venture. You even set up your profiles on social media to create a following. It's time to take on the digital world by storm.
Just one thing. What are you planning to do about selling the software you have developed?
It's tempting to attempt to construct an ecommerce solution by yourself instead of purchasing an online platform. There are a lot of factors to keep in mind like processing payments, the shopping cart experience, delivery of products, chargebacks as well as tax/VAT compliance. You'll find yourself having difficult time managing everything.
There's a myriad of eCommerce tools and platforms available that can help you run the running of your business. However, finding the best one for you will take time and effort.
We're happy to assist you! Check out five online store costs that aren't obvious and must be aware of.
1. Customization
Your shopping cart for your site should be an extension of your brand. Based on research by Kissmetrics the 93% of consumers consider visual appearance to be the key deciding factor in a purchasing decision. But designing a dynamic commerce experience that inspires your website visitors to make a purchase is a tall order.
E-commerce platforms can assist you build a storefront, however, be cautious when they force you to use an unwieldy, rigid, and unbranded customer experience. Some solutions will even cost you to upgrade to a fully customized website. It doesn't have to be this way!
2. Maintenance
Keeping your ecommerce website functioning requires regular maintenance. It's a 24/7 job to ensure users can complete an order on your site from anywhere around the world and on any device. The probability a customer will leave your site increases by 90% when the website takes up to five minutes to load. A good e-commerce platform can help with this for you so you can focus on other important aspects of your company.
3. Tax/VAT
Apart from a full-time tax specialist, there isn't anyone with enough time or the patience to become an expert on domestic and international tax laws. If you're planning on taking benefit of the booming international economy it is essential to accept transactions worldwide. People are more comfortable when they pay for an online product if transactions are made in their own country and language, accounting for the right taxes for. Without a well-equipped eCommerce platform, you'll wind up spending lots of precious time and cash to ensure your business's tax compliance is met.
4. Fraud
It's crucial to understand this fraudulent activity is a major issue in e-commerce companies. Fraud comes in several forms in e-commerce companies. It is important to be aware of what to watch out for, such as card-not-present transactions, high-risk method of payment, untruthful or fraudulent vendors, large charges, identity theft and more. We're not trying to put you off from building your own business. However, it is crucial to make every effort in order to protect your business. The right ecommerce platform will come with features built in to safeguard your business from fraud.
5. In-house resources
Controlling the eCommerce process of your company takes a lot of resources. It requires dedication and commitment, paired with a significant investment in cash, time and energy. It will cost you much of your budget building and maintaining an ecommerce experience on your own as well as keeping it up and running after the project is completed. You'll be amazed at what you can get for your money when you outsource the work management of your company's ecommerce. Imagine all that extra time you'll end up spending on developing new products or establishing new markets!
There's no question that having a successful ecommerce website takes lots of effort. However, you don't need to bear the burden on the shoulders of your. Full-Service platforms for e-commerce like these allow your business online to develop a successful ecommerce experience and grow your business.