If you are new to the business world, there is a possibility that you’re unfamiliar with the term- credit card chargebacks. You need to know what they are, since you’re going to experience them, either in a few days or ten years from now. Knowledge beforehand is essential for navigating the chargeback process successfully.
A merchant account is a type of bank account which allows businesses to accept payments by credit or debit cards. That is an agreement between a retailer, a merchant bank and payment processor for the settlement of credit card and/or debit card transactions.
The average person spends approximately hour and 40 minutes browsing social media websites every day. That is why social media and ecommerce have the opportunity to interact with and bolster each other. Also, the number of people shopping on the Internet is expected to reach 27 million this year.
Sales across the world are constantly rising which means that consumers in multiple countries are shopping online more often. This is great news for those who are already owners of e-commerce business or think about starting a new one. It’s not that difficult to start an e-commerce business since there are many companies that offer a complete e-commerce package deal where you can choose a business name, domain and establish a theme of your website. Even though it sounds really easy, it’s not. Those who already run an e-commerce business know how many challenges it entails. Here are a few key strategies in case you want to make your site better:
The phenomenon called social proof happens all the time; it’s happening even when we don’t even realize it’s happening. We look up to others and seek for their guidance and opinion when it comes to unfamiliar places or situations. Whether it is our decision to eat in certain restaurant with the longest queue or buying something only because it has many positive reviews online, we tend to look to others for guidance when we are not sure of what we should do.
So, you think ecommerce is the right business for you? Great! Now you just need to decide on the right product niche. For most people, this is the most difficult thing to decide. It can take months of thinking about profitable idea and nothing would come up. You need to be strategic in your research process since it can take you two ways- you end up with unprofitable business or you’ll take too long to start a business and competitor may beat you to the punch.
If you’re an online business owner, you know how hard it can be to run a successful online store. Even drop-shipping businesses requires marketing, new product sourcing, analytic monitoring and so much more. These days, more than 50 percent of consumers shop online. Therefore, keep an eye on your store’s operations and customer-engagement strategies.
Ecommerce has evolved a lot during the last few years- from traditional brick and mortar retail to a more popular and better alternative. It’s difficult to resist huge variety of products, discounts, special offers and many more options ecommerce has in store. However, there is a lot of competition and it’s getting bigger every day. In order to achieve diversification, you can try to focus on the following three key tips:
If you want to design creative marketing programs and offer benefits no one else does, you need to get to know your customers. In order to have successful business, you need to create a brand that customers recognize, identify with and trust. Here are 4 marketing tips that can help you improve your ecommerce business: