Saving Money On Your E-commerce Site
After building and transferring many e-commerce sites it still amazes me that owners of e-commerce businesses are still wasting money in three basic ways. For fear of stating the obvious, saving money is the same as making money $100 saved is $100 added to your profit margin. Here are three basic ways to save money on your e-commerce site and increase your profits. While they may be simple we know they are overlooked time and time again resulting in thousands of dollars in lost revenue.
ABORTED SALESWhile most modern shopping carts come with many features, they all involve the collecting of information from clients. Name, address, telephone number, user name, password, email address and so on. Yes we understand that these details are only required for the first order but let's take a look at the new buyers experience.
They have browsed your site and found a product they wish to buy, they begin the checkout process and input all the details above. Your cart then builds the order and transfers them to paypal 2 checkout or what ever payment gateway you use. What happens next? "Please input your name, address, email, telephone number......" The result? Lost and aborted sales, surfers are lazy creatures we know that. In an ideal world your cart would have passed all those variables to the gateway and the user would not have to input them again, however because there are so many gateways and they all require different variables this is difficult.
So now you log in to the admin section of your cart and see an order only to find there is no matching payment. Thje solution is simple, fire up your email program and send them an email. "We noticed that you placed an order for our xxxxxxx however unfortunately we did not receive payment for that item so were unable to despatch it. Did you have difficulty with our ordering system? Is there anything we can do to help you? If so please contact us in one of the following ways....."
Taking a few moments to send them an email can recover the sale, or at worst you can find out which part of your ordering system isn't working for them and have it worked on. If you have your own merchant account you could have them call you and take their order by phone. Customers like to feel like customers not numbers, the fact that you took the time to contact them to find out what was wrong will give them confidence in your store and may recover the sale.
CHARGEBACKSThe curse of any e-commerce store the dreaded chargeback. We are sure you have all experienced it. You take an order, despatch it and a few weeks later get a chargeback. The result you have sent goods and have to refund the price of the product and pay a chargeback fee normally around $15.
Firstly make sure your payment gateway offers some sort of seller protection. aypal for example have a full seller protection policy. This is useful to prevent fraud. It is totally unfair that some dishonest people initiate chargebacks after receiving goods, however as long as your gateway has seller protection and you have saved order details and proof of despatch you can go someway to protecting yourself against that.
Surprisingly most chargebacks are not fraudulent, they are caused by the seller forgetting who they bought from, especially if your registered company name with your gateway is different from that of your site. An example your company is called freds enterprizes but your website is widgetsgalore.com, the client buys a widget and at the end of the month sees a charge to their card from freds enterprizes. They don't recognize it they contact their card issuer and chargeback.
This is very easy to avoid. Before they get transferred to payment sate clearly in your cart "Please remember you will be billed by freds enterprizes not widgetsgalore.com". When they are returned to your site thank them for the order then remind them again, "Please remember you will be billed by freds enterprizes not widgetsgalore.com"
When you send them an email telling them their order has been dispatched tell them again "Please remember you will be billed by freds enterprizes not widgetsgalore.com" By now they should be getting the message. However, and this alone has reduced the number of chargebacks to many of our clients, we recommend that you FOLLOW UP YOUR ORDERS and a couple of weeks after the purchase send the client another email. Thank them for their purchase, tell them you hope they are enjoying your product and once again remind them "Please remember you will be billed by freds enterprizes not widgetsgalore.com"
Repetition is the key the more you tell them the more chance they have of recognizing your company name on their credit card statement.
HOSTINGThe money being wasted on inflated e-commerce hosting is incredible. Many of our clients have moved to our service due to the limited and very expensive packages of many so called e-commerce hosts. Let us be very clear on this, if you have your own store this is what you should have.
1. Your own design. Your store should not look like everyone elses, or be template built. If you used an online store designer to build your site we guarantee there are 100 other stores that look just like yours only with a different name. Hardly good for your online image.
2. You should have your own hosting. Not a sub folder of some larger site or virtual hosting. You should be able to add things like a links directory, message boards, support forums, guestbooks and what ever else you think would enhance your site. You should be able to have features added or removed from your cart so that it operates as you want it to. To find out if you have your own hosting email your host and ask them if you can add any of the above. It never ceases to amaze us how many store owners do not even have access to simple things like MYSQL or ftp.
3. There should be no fees payable by you other than a monthly hosting fee. Incredible as it sounds we have seen sites charge a monthly fee, plus a per item listing fee, a per item maintenance fee, commission on sales and other such ridiculous charges.
Many e-commerce hosts charge inflated prices for what is nothing more than virtual hosting (a sub folder of someone elses site) It never ceases to amaze us that most online stores are paying upwards of $50 a month for a restricted and sub standard service. E-commerce hosting is no different than regular quality web hosting. It requires only mysql and php capabilities. Of course stores can use up more space than an information site for example, however in our opinion you should not be paying more than $30 a month to host your store. For $30 you can get ample web hosting for a fairly large store. If you are paying $50 plus then change your host, this can be done without interruption to your site by a competent host.
A saving of $20 a month either adds to your profit or gives you $240 extra per year to spend advertising your site.
Just like a major corporation as an online business owner you need to look at your bottom line, it affects profit. You need to monitor and improve the shopping experience of your clients.
Gary McHugh is SEO of http://www.2001web.com . A design and hosting company specializing in e-commerce. Their service is a complete solution for webmasters including design, building, hosting, editing, programming and ongoing support. They also have a very reasonably priced site transfer service for new clients.
Alibaba-backed Asian group Daraz cuts workforce 11% Yahoo Finance
3 Top E-Commerce Stocks to Buy in February The Motley Fool
Beijing pushes new measures to revive e-commerce activities in nation’s capital - South China Morning Post
Beijing pushes new measures to revive e-commerce activities in nation’s capital South China Morning Post
SKYX Signs to Acquire Strategic Lighting E-Commerce Conglomerate with $86 Million in Revenues and 64 Websites - Yahoo Finance
SKYX Signs to Acquire Strategic Lighting E-Commerce Conglomerate with $86 Million in Revenues and 64 Websites Yahoo Finance
Holiday eCommerce Gift Card Sales Show Double-Digit Growth as Consumers Leverage Gift Cards to Combat Inflation - Yahoo Finance
Holiday eCommerce Gift Card Sales Show Double-Digit Growth as Consumers Leverage Gift Cards to Combat Inflation Yahoo Finance
Merchandising healthcare access: adopting e-commerce techniques Healthcare IT News
Amazon and Alibaba lead in cross-border ecommerce Digital Commerce 360
Why small business now counts more than ever on B2B ecommerce Digital Commerce 360
Health info with price norm likely for ecommerce companies to curb unhealthy consumption - Economic Times
Health info with price norm likely for ecommerce companies to curb unhealthy consumption Economic Times
4 Ecommerce Growth Levers Practical Ecommerce
How to Integrate Ecommerce With Social Media Efforts Business Manchester
Ecommerce Product Releases: February 1, 2023 Practical Ecommerce
Getting Started with Live-stream Selling Practical Ecommerce
Retail and eCommerce news from the week beginning 30 January ... Enterprise Times
Shipt launches LadderUp to drive small business ecommerce Supermarket News
How the Store Experience is Influenced by Ecommerce Multichannel Merchant
How ChatGPT Drives Ecommerce Conversions Practical Ecommerce
Using ecommerce as a tool for change Pro Bono Australia
How To Use Pinterest For Ecommerce Search Engine Journal
How To Create A WordPress Ecommerce Website Search Engine Journal
Why it's a great time to launch an ecommerce business The CEO Magazine
How to Optimize Your eCommerce Store for Maximum Revenue BOSS Magazine
First Steps to Sustainable Ecommerce Practical Ecommerce
Charts: U.S. Retail Ecommerce Sales Q3 2022 Practical Ecommerce
Livestream Ecommerce Platform Market Outlook 2023 Top Companies, Trends, Growth Factors Details by Regions, by - openPR
Livestream Ecommerce Platform Market Outlook 2023 Top Companies, Trends, Growth Factors Details by Regions, by openPR
The future of ecommerce in Africa TechCabal
Scaling eCommerce Should Not Crash eCommerce; SMBs Need a Platform That Grows With Them - Yahoo Finance
Scaling eCommerce Should Not Crash eCommerce; SMBs Need a Platform That Grows With Them Yahoo Finance
SEO: Canonical Tags Dos and Don'ts Practical Ecommerce
5 ECommerce Branding Mistakes You Need to Avoid StartupGuys.net
January ecommerce sales more than a quarter down on December ... InternetRetailing
Automotive E-Commerce Market to Grow Worth USD 213.08 Billion ... InvestorsObserver
Senior Accountant, Ecommerce Clients Brookhaven Going Concern
Adrian Urda (Cometex) will be a speaker at re:FOCUS on ... Business Review
8fig Launches “Freight with 8fig” to Bring Competitive Freight Rates ... Global Trade Magazine
TikTok's E-Commerce Management Structure Undercuts Claims of ... The Information
TikTok Parent ByteDance's E-Commerce Volume Surged in 2022 ... The Information
Simpli Home® to Plant One Tree for Each Purchase Made on Its ... 24-7 Press Release
As Headwinds Mount, Lifetime Value will Become Ecommerce’s ... Retail TouchPoints
Augustin Dobre (Twispay) joins Business Review's re:FOCUS on ... Business Review
12 new Google Analytics 4 ecommerce dimensions and metrics Search Engine Land
FedEx scales back Sunday deliveries again as ecommerce wanes Digital Commerce 360
Email Marketing Is Like Dating Practical Ecommerce
E-Commerce Shops: 12% Are Publicly Exposing Private Backups BankInfoSecurity.com
Report: 50% of Amazon Sellers Will Expand to New E-Commerce Platforms and Global Markets in 2023 - Miami Herald
Report: 50% of Amazon Sellers Will Expand to New E-Commerce Platforms and Global Markets in 2023 Miami Herald
Retail and eCommerce news from the week beginning 9 January ... Enterprise Times
The Next Evolution of E-Commerce Progressive Grocer
E-commerce giant eBay to lay off 500 employees India New England
Digital transformation and ecommerce logistics in the spotlight at air ... - Creamer Media's Engineering News
Digital transformation and ecommerce logistics in the spotlight at air ... Creamer Media's Engineering News
Daily Research News Online no. 34543 - eCommerce Data Platform ... Daily Research News Online
How Brands Can Ready E-Commerce for 2023 With AI Total Retail
Increasing E-commerce Website Sales
With consumers purchasing billions of dollars of merchandise online each and every year, the Internet has become the key to financial security. The e-commerce business has consistently thrived well above all other online enterprises, and continues to flourish.
Start doing online business using B2B Portals in Six Steps
I registered with a B2B site but what's next?This is a question many first time users of B2B marketplaces ask themselves. A few expect that the registration itself will bring them a number of new customers.
E-marketplaces from Sellers Perspective
What is an E-marketplace anyway?E-marketplace is a business to business web based venue, where buyers and sellers meet online, generate business leads and conduct business transactions. The e-marketplace features are tailored in a manner so that a large numbers of buyers and suppliers can be serviced as a community.
Free Competition Analysis for E-Commerce Startup
For anyone who has completed research regarding e-commerce, there are some common catch phrases that we all come across. 'Competition Analysis' is one of those catch phrases.
Delivering Information Products Through Paypal Automatically
Paypal is one of the wonders of the web. Never has it been easier for individuals or small business to receive payments though the web & to be able to accept payment though debit or credit cards without having to own a merchant account.
Alternative E-Commerce Solutions
Over the past several years, the Internet has emerged as a breakthrough technology that has and will continue to transform the way we live and communicate, and especially the way we do business.No matter if you are selling a product or a service, the Internet is a means of reaching markets that had otherwise been unreachable in the past.
Keep Your Customers Happy by Organizing Your Payment Options
Anyone using a slow, or an awkward payment processor had better wake up!There are some very slick ways to transfer money around the globe, in todays, lightning fast world, both your customers and your suppliers demand payment in the click of a mouse.The processing companies have been fiercely competing with each other for years now, every so often, they revamp and recalibrate.
Products for a Successful Web Business
There are F words in business. We have seen many small businesses on the internet flourish and fulfil their dream, but sadly we have seen some flounder and fail because they had the wrong product.
Is ClickBanks Popularity Drawing To An End?
ClickBank is the Internet's most popular payment processor for online payments but with many rivals appearing on the scene is ClickBank's popularity drawing to an end?ClickBank allows website owners to accept credit and debit card payments online and then deliver the products to their customers instantly. Since August 2005, ClickBank has integrated with PayPal so that people who either do not have a credit or debit card or choose not to use their cards online, can now pay using funds from their PayPal account instead.
Is It Easy to Build An E-commerce Web Site?
--Online Commerce--E-Commerce website is all about selling products and services over the Internet. Amateurs may think that it is easy to build your own e-commerce system and our advice to you is to stay away from these amateurs.
How Do You Make Money Online?
If you learn how other people make money online, I mean really study how it's done and ask a lot of questions, there is no reason in the world you cannot make money on the internet as well.How do people make money with websites? There are literally tens of thousands of things people make money on from the net.
Implications Of E-Commerce For Tax Legislation
As e-commerce develops ambiguities in the current tax code in which it may be exposed. It would not be regarded as too early to take premature steps for undertaking such a review at a time when detailed international legislation are going on to promulgate acceptable standards laws for imposition taxation in this regard.
Home Sweet Home Page
"Your home page is the world's introduction to you and your company. Make it COUNT!" - Heidi RichardsThink of your home page as the cover of your brochure.
Tell Them Whats in The Can!
What does 'the can' mean? Well, its literal meaning relates to canned goods on supermarket shelves. If your can is up there among thousands of others, the label had better state pretty clearly exactly what's in the can.
Shop: Is Shopping Online Secure?
Is shopping online becoming popular and safe enough for you and I to do the vast majority of our shopping on the Internet?As I contemplated, when I initially set up my website: www.shopshopshop.
Shopping Carts For The Faint Of Heart
The chief criteria for judging an ecommerce shopping cart are the number of credit card processors and shipping services it supports, and the number of people that support *it*.Why? Because credit card processors and shipping services mutate all the time.
Credit Card Processing - 7 Things You Need to Know Before Opening an Online Merchant Account
When considering opening an online merchant account to accept credit card orders, there are a lot of things you need to keep in mind. The best thing to do is learn all about credit card processing before you open your online merchant account so you can handle everything from the beginning rather than having to go back and make many changes.
How e-business and e-Marketing are Changing
Internet now days became a real marketplace and many many companies using Internet as a online Selling and Customer Care or Support Tool for their Products and Services.Companies using e-Marketing, Search Engines Optimizations, e-mail eMarketing, Opt-In emailing Lists, Web Sites, Online Website Promotions, Backlinks Increasing, Link Building, Online Stores, Data Feeds, RSS Feeds, RSS Submissions, Business to Business (b2b) Exchange, Sales Force Automation Solution Software's, Online Live Customer Care or Live Support etc.
How To Stay Cutting Edge In Online Business
Let's face it, there's just way too much information out there for any one individual to try to keep abreast of. And yet, if we shut ourselves off from the world, we risk building our businesses in a vacuum and suffering on the bottom line.
|home | site map|