Today's customers search for their products and services primarily via search engines such as Google. And much of today's commerce takes place via digital markets.
It is therefore particularly interesting for start-ups, small businesses and larger companies to switch to e-commerce. This is because many new customers can be reached via an online store. Online business even works for smaller stores, as they can reach a much larger target group digitally. And with a multi-channel approach, the right marketing and suitable content, the right customers can be addressed.
But be careful: if you think that getting started in e-commerce with your company is easy, then you are mistaken. Because there are many hurdles that you need to overcome before you can achieve success.
However, with our e-commerce tips you are well prepared, and with the right support at your side, your entry into online retail will be a success.
Tip 1: Choose the right payment method for your e-commerce
Nowadays, your customers expect various payment options, such as credit card or prepayment, when they visit your online store. However, payment in advance is no longer used as frequently.
This is because many customers expect additional payment methods in your store. They are used to being able to access various payment methods from large platforms and marketplaces such as Amazon and eBay, which simplify the shopping experience and speed up the check-out process.
Hence our first tip: the right choice of payment options in your online store is an important factor. And can give you an advantage over your competitors. If you notice that there is a high abandonment rate in your store during the checkout process, this may be an indicator that you need to adapt your payment models to the needs of your customers.
And this is where you face another difficulty. Because integrating any payment service provider (PSP for short) is often a complicated and costly process. It's up to you to decide which PSPs are worthwhile for your business.
Tip 2: Don't get bogged down in mountains of invoices and paperwork
This resolution should apply to your customers, but also to you. Unfortunately, it is all too easy to lose track of all the invoices that arise in online business.
You always need to know who is behind with their installment payments and who you need to send a reminder to. And that's not all: in addition to the outstanding debts, all other receipts should always be to hand. Keeping an overview and not letting the chaos of paperwork stress you out is one of the biggest challenges in the e-commerce business.
It gets even more complicated if some of your customers want to receive their invoices in different ways. Whether digital or enclosed in a parcel by post, automated billing is also a success factor in terms of efficiency and user experience thanks to the right tools.
You can master our second e-commerce tip with our all-in-one solution. With our billing platform system and our company's expertise, we can help you overcome precisely this hurdle.
Tip 3: What you need to consider when doing business abroad
Is your company doing really well and are you considering shipping abroad? For many companies, doing business in other countries is a milestone.
However, without the right processes and preparations, if you want to sell to another country, your profit margin can quickly shrink. Reasons for this include higher shipping costs or other taxes in the recipient country where VAT is payable.
Our tip 3: Before you venture abroad, be aware that a VAT declaration is required for each country to which you want to sell.
And once you have fought your way through the maze of taxes, you are still faced with the challenge of exchange rates for the various currencies. The best thing to do is to adapt your store system to these problems.
The step onto the international stage is a big one and should be carefully considered. But with the right partner at your side, you can also overcome this hurdle.
For over 20 years, we have been familiar with the billing business abroad and can support you with complex billing processes.
Tip 4: Accounting in e-commerce, tedious but very important
Especially in accounting, you always have to keep an eye on everything.
Different invoices, tax rates and payment methods result in different margins. The overview can quickly get lost.
What's more, the more customers who shop online in your store or take out a subscription, the more invoices and payment flows you have to manage. Stress is inevitable. Unless you use our billing platform for the fourth e-commerce tip.
The great advantage of our platform: it provides you with many insights into payment transactions and you can identify particularly popular and profitable payment methods. This helps you to optimize your marketing strategies, for example.
Tip 5: Customers need contacts, even in e-commerce
If you want to be successful with your e-commerce, then you should take our tip 5 to heart: You need very good customer service in e-commerce.
The majority of customers who have had a bad experience with their provider would quickly switch to another provider. A quick type into the Google search engine and all your competitors will be listed alongside you. That's why it's so important to have good contacts, especially online.
You need to be aware that your customers will also have many questions about your products and services online. These questions must then be answered, preferably promptly. If there are no answers, the will to buy will dwindle. You can allow your customers to contact you by email, for example, but this is a very slow process. It would be better if your online store could be reached by phone or if customers could contact you via chat. However, such projects consume a lot of resources.
For customers from abroad, different languages should also be offered. Ideally, you can outsource customer support to an external provider. But this step also needs to be carefully considered.
Conclusion
All e-commerce tips for the successful launch of your online store summarized again:
- Choose the right payment method
- Keep an overview of invoices and receipts
- Good preparation for selling abroad
- Choosing the right accounting system
- Good customer service is important
