Choosing an ecommerce storefront drastically affects your sales. Choose wisely and sales double, triple, or more. Choose poorly and you waste your time and money.
Selecting the right ecommerce storefront begins with determining which features you will need. Doing some research and finding out about the different features available will help you select the services designed to target your individual business needs.
If you already have an existing website that is drawing traffic, adding an easy-to-use shopping cart may be all that you need. Deciding whether or not you want the capability to add html code to your existing website or if you want to be able to restructure your product pages completely are questions you should ask yourself while doing your research. Figure out what additional services you may need. Some ecommerce services offer search engine optimization to increase your traffic, website design to give your online business a new look, email delivery for your client base, and inventory control to help you track your merchandise.
If you need a domain name, server, and client management system in addition to the ecommerce service, these features may not be offered by every service. Decide which features might benefit your company the most. Search for a company that offers everything you need.
How user-friendly the service is should be important to you. You may not want or have time to learn HTML in order to use the features you are paying for. Make sure you know how much of your time is required to set up your ecommerce storefront. Many ecommerce solutions are set up in a way that allows you to use the features even without knowledge of HTML.
These services also vary greatly in price. Setting a budget and sticking to it helps you sort out unnecessary features to select a product that you can live with easily. Another consideration is billing. Some companies will charge one flat fee where others you'll receive a monthly bill.
Studies have shown that customers prefer a speedy checkout. Choose software that allows you to customize the number of clicks needed to check out. You may want the capability to customize other aspects of your service, like providing a consultant or a translator to customize your website further.
One important aspect to consider when choosing an ecommerce storefront service is the shelf life of the software. You do not want your current software to become obsolete in six months. Select one that offers research and product updates on a regular basis to keep your features and software fresh.
Any reputable business offers a satisfaction guarantee. You should thoroughly research the cancellation and refund policies before signing up with an ecommerce storefront. Be wary of any company that does not extend a money-back guarantee.
Read through the customer testimonials available for review. Find out what your competitors have to say about the product. Look for any complaints filed with the online better business bureau.
Customer service is important when deciding on this storefront service. If the company is in a different time zone, check to see that they have adequate customer service representatives available to assist you during your regular business hours. Learn if the company has a service available to help walk you through the setup of your new website.
The company should offer training seminars, videos or troubleshooting guides to help get you through the setup of your new site. As new features become available, training materials should be released to help you learn about these new features.
Getting answers to these targeted issues is the first step toward finding an ecommerce storefront solution that is right for your business. Knowing what you need before you shop gives you the advantage of quickly narrowing down the choices to find the perfect solution.
Monday, March 17, 2008
Saturday, March 15, 2008
E-commerce Hosting Solution
E-commerce is basically running an online business. To be more precise, buying/selling of goods/services over the internet denotes e commerce.
For trading goods online, you need a virtual online store or shop.
All the features of this shop will be more or less similar to a physical store with the only difference that is it is online.
A typical e-commerce website is also called as shopping cart site or online retail/wholesale store. Products are displayed on the screen, where users can select & put it in the shopping cart or basket. The program takes note of factors like number of products, quantity & price. The products are displayed from the inventory that is lying in the back-end.
Virtually, this is called a database. You also have option to search for a particular product or feature of a product from the database. Based on your inputs, the program fetches the product from the database & displays it to you. You can then drop it in your shopping cart. Once you are done with your shopping, you head for a check-out process, which basically allows you to enter credit card information for the price you are paying & gives you the details of shipping the product at your doorstep. This procedure is called a transaction. Usually, any e-commerce system contains all these features plus any other advanced features depending upon the requirement.
Building an e-commerce system is a complicated process; therefore it is not really advisable to build your own e-commerce system, especially if you are running a smaller business. The best solution is to find a hosting provider that offers a complete e-commerce hosting solution.
While looking for a provider who can offer e commerce web hosting services & solutions, you need to ensure many factors such as how this system handles orders, shipping, inventory, security, billing etc.
The above factors are just the basic few; depending upon your level of requirements, you will find anything from very simple to very complex features available from variety of hosting providers.
In a nutshell, to start an online store, you first need to have inventory of products that you intend to sell online. Then, you can approach any web company offering you a complete package of e-commerce hosting services & solutions, to develop & host your website. Once your e commerce site is ready, it is hosted on a dedicated/shared server sometimes fully managed where all the server administration tasks are handled by the hosting company.
For trading goods online, you need a virtual online store or shop.
All the features of this shop will be more or less similar to a physical store with the only difference that is it is online.
A typical e-commerce website is also called as shopping cart site or online retail/wholesale store. Products are displayed on the screen, where users can select & put it in the shopping cart or basket. The program takes note of factors like number of products, quantity & price. The products are displayed from the inventory that is lying in the back-end.
Virtually, this is called a database. You also have option to search for a particular product or feature of a product from the database. Based on your inputs, the program fetches the product from the database & displays it to you. You can then drop it in your shopping cart. Once you are done with your shopping, you head for a check-out process, which basically allows you to enter credit card information for the price you are paying & gives you the details of shipping the product at your doorstep. This procedure is called a transaction. Usually, any e-commerce system contains all these features plus any other advanced features depending upon the requirement.
Building an e-commerce system is a complicated process; therefore it is not really advisable to build your own e-commerce system, especially if you are running a smaller business. The best solution is to find a hosting provider that offers a complete e-commerce hosting solution.
While looking for a provider who can offer e commerce web hosting services & solutions, you need to ensure many factors such as how this system handles orders, shipping, inventory, security, billing etc.
The above factors are just the basic few; depending upon your level of requirements, you will find anything from very simple to very complex features available from variety of hosting providers.
In a nutshell, to start an online store, you first need to have inventory of products that you intend to sell online. Then, you can approach any web company offering you a complete package of e-commerce hosting services & solutions, to develop & host your website. Once your e commerce site is ready, it is hosted on a dedicated/shared server sometimes fully managed where all the server administration tasks are handled by the hosting company.
Wednesday, March 12, 2008
Ecommerce Threats & Solutions
eCommerce has forever revolutionized the way business is done. Retail has now a long way from the days of physical transactions that were time consuming and prone to errors.
However, eCommerce has unavoidably invited its share of trouble makers. As much as eCommerce simplifies transactions, it is occasionally plagued by serious concerns that jeopardize its security as a medium of exchanging money and information.
Major threats to present day eCommerce include
Breach of Security:
Money Thefts
eCommerce services are about transactions, and transactions are very largely driven by money. This attracts hackers, crackers and everyone with the knowledge of exploiting loopholes in a system. Once a kink in the armor is discovered, they feed the system(and users) with numerous bits of dubious information to extract confidential data(phishing). This is particularly dangerous as the data extracted may be that of credit card numbers, security passwords, transaction details etc.
Also, Payment gateways are vulnerable to interception by unethical users. Cleverly crafted strategies can sift a part or the entire amount being transferred from the user to the online vendor.
Identity thefts
Hackers often gain access to sensitive information like user accounts, user details, addresses, confidential personal information etc. It is a significant threat in view of the privileges one can avail with a false identity.
For instance, one can effortlessly login to an online shopping mart under a stolen identity and make purchases worth thousands of dollars. He/she can then have the order delivered to an address other than the one listed on the records. One can easily see how those orders could be received by the impostor without arousing suspicion. While the fraudsters gains, the original account holder continues to pay the price until the offender is nabbed.
Threats to the system
Viruses, worms, Trojans are very deceptive methods of stealing information. Unless a sound virus-protection strategy is used by the eCommere Solutions firm, these malicious agents can compromise the credibility of all eCommerce web solution services. Often planted by individuals for reasons known best to them alone, viruses breed within the systems and multiply at astonishing speeds. Unchecked, they can potentially cripple the entire system.
Solutions
There is but one solution to all issues that at times dent the security of eCommerce services. Strict vigil on malicious intruders.
Easier said than done? So is every preventive measure. However, with online transactions, progress in security has been overwhelming.
Authentication
Most notable are the advances in identification and elimination of non-genuine users. Ecommerce service designers now use multi-level identification protocols like security questions, encrypted passwords(Encryption), biometrics and others to confirm the identity of their customers. These steps have found wide favor all around due to their effectiveness in weeding out unwelcome access.
Intrusion Check
The issue of tackling viruses and their like has also seen rapid development with anti-virus vendors releasing strong anti-viruses. These are developed by expert programmers who are a notch above the hackers and crackers themselves.
Firewalls are another common way of implementing security measures. These programs restrict access to and from the system to pre-checked users/access points.
Educating Users
eCommerce is run primarily by users. Thus, eCommerce service providers have also turned to educating users about safe practices that make the entire operation trouble free. Recent issues like phishing have been tackled to a good extent by informing genuine users of the perils of publishing their confidential information to unauthorized information seekers.
However, eCommerce has unavoidably invited its share of trouble makers. As much as eCommerce simplifies transactions, it is occasionally plagued by serious concerns that jeopardize its security as a medium of exchanging money and information.
Major threats to present day eCommerce include
Breach of Security:
Money Thefts
eCommerce services are about transactions, and transactions are very largely driven by money. This attracts hackers, crackers and everyone with the knowledge of exploiting loopholes in a system. Once a kink in the armor is discovered, they feed the system(and users) with numerous bits of dubious information to extract confidential data(phishing). This is particularly dangerous as the data extracted may be that of credit card numbers, security passwords, transaction details etc.
Also, Payment gateways are vulnerable to interception by unethical users. Cleverly crafted strategies can sift a part or the entire amount being transferred from the user to the online vendor.
Identity thefts
Hackers often gain access to sensitive information like user accounts, user details, addresses, confidential personal information etc. It is a significant threat in view of the privileges one can avail with a false identity.
For instance, one can effortlessly login to an online shopping mart under a stolen identity and make purchases worth thousands of dollars. He/she can then have the order delivered to an address other than the one listed on the records. One can easily see how those orders could be received by the impostor without arousing suspicion. While the fraudsters gains, the original account holder continues to pay the price until the offender is nabbed.
Threats to the system
Viruses, worms, Trojans are very deceptive methods of stealing information. Unless a sound virus-protection strategy is used by the eCommere Solutions firm, these malicious agents can compromise the credibility of all eCommerce web solution services. Often planted by individuals for reasons known best to them alone, viruses breed within the systems and multiply at astonishing speeds. Unchecked, they can potentially cripple the entire system.
Solutions
There is but one solution to all issues that at times dent the security of eCommerce services. Strict vigil on malicious intruders.
Easier said than done? So is every preventive measure. However, with online transactions, progress in security has been overwhelming.
Authentication
Most notable are the advances in identification and elimination of non-genuine users. Ecommerce service designers now use multi-level identification protocols like security questions, encrypted passwords(Encryption), biometrics and others to confirm the identity of their customers. These steps have found wide favor all around due to their effectiveness in weeding out unwelcome access.
Intrusion Check
The issue of tackling viruses and their like has also seen rapid development with anti-virus vendors releasing strong anti-viruses. These are developed by expert programmers who are a notch above the hackers and crackers themselves.
Firewalls are another common way of implementing security measures. These programs restrict access to and from the system to pre-checked users/access points.
Educating Users
eCommerce is run primarily by users. Thus, eCommerce service providers have also turned to educating users about safe practices that make the entire operation trouble free. Recent issues like phishing have been tackled to a good extent by informing genuine users of the perils of publishing their confidential information to unauthorized information seekers.
Tuesday, February 26, 2008
Small Business E-Commerce
Are you prepared for a new way of doing business? Do you want some activity that will not take up most of your time, but will enable you to generate income? Do you want to earn more money while staying at the relative comfort of your own home? If your answer to these questions is a resounding YES, then settle down and let me explain to you the concept of small business e-commerce.
The concept of Electronic Commerce, or e-commerce has been around for many years now, ever since the inception of the World Wide Web. Basically, it is simply the process of buying and selling, even trading goods and commodities over the Internet. E-commerce has many advantages, the most well-known is the ability to do business without even leaving the comforts of your own home. So imagine the convenience of earning money while not having to go out and having control over your own time!
So why is this relevant to you? If you have read the entire article up to this point, I can assume that you are either a small business owner who is looking for ways to expand your client base or an individual who is interested in starting up a small business to earn money. Probably you are asking: what do I need to set up a small business online?
There are no concrete rules in e-commerce, but like any business, virtual or not, the following steps would be very helpful to us:
identify your customer base know the marketability of your products make sure that you have a steady supply of the products you are selling reach out to potential customers
For e-commerce, having a website for your business is very crucial. Your website is essentially your store front, and just like any good store, your website should be clean, appealing to look at, and easy to navigate. Imagine a dirty grocery store, with mismatched colors and maze-like shelves! You wouldn't want to buy products from such a store, would you? So the same goes for your e-commerce website.
The concept of Electronic Commerce, or e-commerce has been around for many years now, ever since the inception of the World Wide Web. Basically, it is simply the process of buying and selling, even trading goods and commodities over the Internet. E-commerce has many advantages, the most well-known is the ability to do business without even leaving the comforts of your own home. So imagine the convenience of earning money while not having to go out and having control over your own time!
So why is this relevant to you? If you have read the entire article up to this point, I can assume that you are either a small business owner who is looking for ways to expand your client base or an individual who is interested in starting up a small business to earn money. Probably you are asking: what do I need to set up a small business online?
There are no concrete rules in e-commerce, but like any business, virtual or not, the following steps would be very helpful to us:
identify your customer base know the marketability of your products make sure that you have a steady supply of the products you are selling reach out to potential customers
For e-commerce, having a website for your business is very crucial. Your website is essentially your store front, and just like any good store, your website should be clean, appealing to look at, and easy to navigate. Imagine a dirty grocery store, with mismatched colors and maze-like shelves! You wouldn't want to buy products from such a store, would you? So the same goes for your e-commerce website.
Online Marketing Course
If you are interested in starting an online business and have no idea how, why not enroll in an online marketing course? There are lots of educational opportunities out there that cater to this specific aspect of E-commerce, and believe it or not, most of them are free over the Internet.
The reason why some people fail in business is the lack of proper marketing for their products and services. This is especially true for online stores where the strength of your web presence will make or break your business. Failure of a business due to low sales is usually a sign of poor marketing strategy.
Why is enrolling in an online marketing course good for you? For one, if you have a business, you need to advertise it. But as every store owner knows, advertising takes up a large part of a store's operational cost. This is due to the fact that more often than not, you have to let someone do the actual advertising for your store. You have to hire graphic artists to do your ads and other promotional materials. For small businesses this can really hurt profits as most of your income has to go to advertising fees. A primer on marketing your products could actually help you do these things yourself, essentially teaching you how to "sell" your business. You could reduce and even possibly eliminate the payment for advertising if you learn how to do this yourself, thus earning more profits.
Another advantage is that you don't actually have to go to school since the course materials are available over the Internet. You can learn marketing from the comfort of your own home. This is practically very advantageous since you can study while having the freedom to do other things, like running an online business. For a virtual store owner, this is a win-win scenario.
The reason why some people fail in business is the lack of proper marketing for their products and services. This is especially true for online stores where the strength of your web presence will make or break your business. Failure of a business due to low sales is usually a sign of poor marketing strategy.
Why is enrolling in an online marketing course good for you? For one, if you have a business, you need to advertise it. But as every store owner knows, advertising takes up a large part of a store's operational cost. This is due to the fact that more often than not, you have to let someone do the actual advertising for your store. You have to hire graphic artists to do your ads and other promotional materials. For small businesses this can really hurt profits as most of your income has to go to advertising fees. A primer on marketing your products could actually help you do these things yourself, essentially teaching you how to "sell" your business. You could reduce and even possibly eliminate the payment for advertising if you learn how to do this yourself, thus earning more profits.
Another advantage is that you don't actually have to go to school since the course materials are available over the Internet. You can learn marketing from the comfort of your own home. This is practically very advantageous since you can study while having the freedom to do other things, like running an online business. For a virtual store owner, this is a win-win scenario.
Monday, February 25, 2008
Who Needs An Internet Merchant Account?
The term offshore usually makes people think that something illicit is currently, or going to happen in the future. Not true; in fact, going offshore is a great way of streamlining an international client base and getting better rates, while doing it. The term offshore simply put, means that you are doing your banking in a country other than the one, your company is physically or legally registered in. For many businesses, that do a lot of business in one particular country, that is really the main option.
Merchant Service Providers specializes in finding merchant accounts for businesses throughout the world and links them with the right bank for them, depending on their geographical market and type of business. Ecommerce based businesses differ as widely as any other type of business. Five years ago, a popular, high volume, internet based retail business was Ebay. Today, Ebay is still the leader in internet based seller to seller simple transactions. Most of the business is transacted through Paypal, which is in a sense an escrow service, or entity that holds money, only to be released under terms of a pre-determined agreement. I've heard of them described as an organization that lets you send money to someone else's email. I guess it's not that easy; like all bank transactions, these are funneled through banks, while secure, simply through some bank, somewhere; maybe domestic, maybe offshore. I guess we'll never know. The point is that when you give a business your credit card numbers, they're processed through a number of channels that provide security, transfer funds and deliver them securely to their final destination.
Today, internet based businesses have grown from a merchant supplementing their storefront with taking orders online and over the telephone, to entirely internet and telephone based businesses. These online merchants don't have it as easy as we may think. With the kind of exposure that the internet creates, combined with the relative ease of creating an internet based business, prices are driven down, while volume drastically increases. A good complaint? If your supply lines and logistics are in place. Maintaining and growing a profitable online business is so much of the battle today and the saying is true that the hardest test is the test of time. While good service and accessibility to your vendors and customers are key, sustainability and survival are just as important. Behind the scenes, product fulfillment and good banking keeps you out of court and out of your banker's office applying for a second mortgage. Using a merchant service provider cannot help you with your supply chain management; however, it can help with your online banking needs, as well as specialize in not only high volume credit card processing and online check processing, but also high risk accounts, which are mostly just categorized as, "Card not present" transactions by domestic banking institutions.
Stradefee Limited, for example, works with merchants ranging from low risk, low volume, to high risk, high volume and everything In between. Just as every business owner has specific needs, merchant service providers like them have specific solutions. They can offer merchants services such as virtual terminals, third party fraud scrubbing, aggregator accounts, account signatory services and processing gateways. As not all online merchants offer hard goods, service industry vendors are very much a part of our portfolio. Companies from law firms, large event caterers and concessions providers to online music download websites and travel companies can all benefit from services that internet banking facilitators have to offer. Today, nearly any product that you can purchase in a store, from sporting goods, clothing, large home electronics, appliances and automobiles to services you can obtain like law and medical advice (usually not professional), business consulting, banking and media purchases are all mainstream internet transactions and they're almost all high volume. In an economy, where bottom lines get smaller and personal time is at an all time and coveted low, your business needs to run more efficiently with the ability to grow and maintain that growth. Your banking needs cannot be the bottleneck of your business plan.
Merchant Service Providers specializes in finding merchant accounts for businesses throughout the world and links them with the right bank for them, depending on their geographical market and type of business. Ecommerce based businesses differ as widely as any other type of business. Five years ago, a popular, high volume, internet based retail business was Ebay. Today, Ebay is still the leader in internet based seller to seller simple transactions. Most of the business is transacted through Paypal, which is in a sense an escrow service, or entity that holds money, only to be released under terms of a pre-determined agreement. I've heard of them described as an organization that lets you send money to someone else's email. I guess it's not that easy; like all bank transactions, these are funneled through banks, while secure, simply through some bank, somewhere; maybe domestic, maybe offshore. I guess we'll never know. The point is that when you give a business your credit card numbers, they're processed through a number of channels that provide security, transfer funds and deliver them securely to their final destination.
Today, internet based businesses have grown from a merchant supplementing their storefront with taking orders online and over the telephone, to entirely internet and telephone based businesses. These online merchants don't have it as easy as we may think. With the kind of exposure that the internet creates, combined with the relative ease of creating an internet based business, prices are driven down, while volume drastically increases. A good complaint? If your supply lines and logistics are in place. Maintaining and growing a profitable online business is so much of the battle today and the saying is true that the hardest test is the test of time. While good service and accessibility to your vendors and customers are key, sustainability and survival are just as important. Behind the scenes, product fulfillment and good banking keeps you out of court and out of your banker's office applying for a second mortgage. Using a merchant service provider cannot help you with your supply chain management; however, it can help with your online banking needs, as well as specialize in not only high volume credit card processing and online check processing, but also high risk accounts, which are mostly just categorized as, "Card not present" transactions by domestic banking institutions.
Stradefee Limited, for example, works with merchants ranging from low risk, low volume, to high risk, high volume and everything In between. Just as every business owner has specific needs, merchant service providers like them have specific solutions. They can offer merchants services such as virtual terminals, third party fraud scrubbing, aggregator accounts, account signatory services and processing gateways. As not all online merchants offer hard goods, service industry vendors are very much a part of our portfolio. Companies from law firms, large event caterers and concessions providers to online music download websites and travel companies can all benefit from services that internet banking facilitators have to offer. Today, nearly any product that you can purchase in a store, from sporting goods, clothing, large home electronics, appliances and automobiles to services you can obtain like law and medical advice (usually not professional), business consulting, banking and media purchases are all mainstream internet transactions and they're almost all high volume. In an economy, where bottom lines get smaller and personal time is at an all time and coveted low, your business needs to run more efficiently with the ability to grow and maintain that growth. Your banking needs cannot be the bottleneck of your business plan.
Adding Merchant Accounts Is Easy and Profitable
For some e-business people the idea of navigating the process of adding credit card processing seems as byzantine as divining the mystery of the Egyptian pyramids. In reality, however, the learning curve is very short, the process itself has been simplified and the benefits can be enormous.
What most e-business people need to know is that after they are approved by a merchant accounts company they will be given access to software that will allow them to accept/process credit cards, accept checks by phone/fax/internet and provide them the wherewithal to give their customers a Web shopping cart to use while navigating their site.
All of the above should come for free from the provider. If you run across a company that puts a price on any of these, it should be considered a red flag, insofar as doing future business.
There are some fees/charges that legitimate - or as many say, these are "the cost of doing business." These will include internet/mail/phone order discount rate, internet/phone/order transaction fee, retail discount rate, retail transaction fee, statement customer service fee and internet processing software gateway fee.
The gateway, by the way, is the virtual version of the point-of-sale terminal your credit card is run through when you make a purchase at a retail outlet. These gateways have safe and secure connection/communication processes that allow the transmission of card numbers and expiration dates without putting the customer's information at risk.
It should be noted at this juncture that no good processing company will charge you for technical support, and that support should be available 24/7 to secure your ability to accept payments online.
The process of applying for merchant services, thanks to heavy competition among provider companies, has never been simpler. The online application takes about 15 minutes, and the information requested should be available at any e-business owner's fingertips.
The approval process should take no more than 24 hours. Indeed, some e-stores will be processing plastic in less than 24 hours. Any provider that needs more time for approval is likely dealing with a third-party vendor, which will slow down the process and add to your costs.
Upon approval is when your e-business should experience some growth and expansion. Numerous retail studies have shown that having credit card processing tends to bring more traffic to a site, more sales, more profits and more repeat business. And any store owner will tell you that any of the above are nothing but positive.
An intangible benefit of card acceptance is that today's consumer is more and more used to shopping with their credit card. As such they view any site that accepts credit cards as more legitimate. Indeed, they also look at a site without card acceptance with suspicion.
The bottom line is that anyone doing business over the internet needs to strongly consider adding credit card processing. The benefits will far outweigh the costs.
What most e-business people need to know is that after they are approved by a merchant accounts company they will be given access to software that will allow them to accept/process credit cards, accept checks by phone/fax/internet and provide them the wherewithal to give their customers a Web shopping cart to use while navigating their site.
All of the above should come for free from the provider. If you run across a company that puts a price on any of these, it should be considered a red flag, insofar as doing future business.
There are some fees/charges that legitimate - or as many say, these are "the cost of doing business." These will include internet/mail/phone order discount rate, internet/phone/order transaction fee, retail discount rate, retail transaction fee, statement customer service fee and internet processing software gateway fee.
The gateway, by the way, is the virtual version of the point-of-sale terminal your credit card is run through when you make a purchase at a retail outlet. These gateways have safe and secure connection/communication processes that allow the transmission of card numbers and expiration dates without putting the customer's information at risk.
It should be noted at this juncture that no good processing company will charge you for technical support, and that support should be available 24/7 to secure your ability to accept payments online.
The process of applying for merchant services, thanks to heavy competition among provider companies, has never been simpler. The online application takes about 15 minutes, and the information requested should be available at any e-business owner's fingertips.
The approval process should take no more than 24 hours. Indeed, some e-stores will be processing plastic in less than 24 hours. Any provider that needs more time for approval is likely dealing with a third-party vendor, which will slow down the process and add to your costs.
Upon approval is when your e-business should experience some growth and expansion. Numerous retail studies have shown that having credit card processing tends to bring more traffic to a site, more sales, more profits and more repeat business. And any store owner will tell you that any of the above are nothing but positive.
An intangible benefit of card acceptance is that today's consumer is more and more used to shopping with their credit card. As such they view any site that accepts credit cards as more legitimate. Indeed, they also look at a site without card acceptance with suspicion.
The bottom line is that anyone doing business over the internet needs to strongly consider adding credit card processing. The benefits will far outweigh the costs.
Tuesday, February 19, 2008
Ecommerce and the Blue-Collar Peasants
In medieval times the common laborer was thought to be less able to understand certain elements of civilized society. These men and women were not allowed to learn to read nor could they attend houses of worship because they were considered incapable of understanding what they heard.
Yes time after time these peasants were the basis for stories of renown and wonder. It is said that a peasant who listened to a sermon outside a church gathered bits and pieces of the Christmas story to write a carol that is still sung today.
Even in recent memory there has been a prevailing thought that only certain individuals are capable of developing a business. This is usually linked to the social standing of the individual or to the accumulated wealth of his or her family.
In business success has typically been tied to who you are, who knows you and how deep your pockets are. If you didn't have the 'name', if you weren't recognized and you didn't have much money then your business would likely fail.
Ecommerce views every business owner as equal. There is no distinction and no preconceived ideas about the background or abilities of the business owner.
The link for all good online businesses is the ability to develop trust. If you are conscientious about providing exceptional customer service and superior products you may likely discover an improved customer base no matter what your personal background is like.
A blue-collar worker with a big idea has every reason to believe they can succeed online. A hard working rancher can develop an idea from their land of wide-open spaces and it may succeed. A single mom struggling to make ends meet might just come up with an idea that contains all the elements for a hit.
Rules that have always seemed as if they are designed for the 'haves' and 'have nots' no longer seem valid in an online business environment. The role of cyberspace is to equalize the impact of business ideas.
How does it do that?
In an online world you are going after customers on a global scale. You are no longer judged on your past failures or successes you are simply judged on your ability to deliver and provide quality products or services - now. If you can do that most customers would not even think to inquire about your lineage or stock portfolio.
An online environment can be one of the least discriminating places on earth. Your online presence is what speaks most to your product offerings and ability to fulfill your promises.
So, in a barn in Utah, a kitchen in Harlem or a neighborhood garage in New Jersey there are likely online businesses that are being developed to improve the quality of life for families that have struggled long enough.
Perhaps the most interesting irony in this is that some of the customers who frequent these 'great idea' sites may be white-collar workers who are less interested in the dynamics of the online business and more interested in receiving what they need.
Yes time after time these peasants were the basis for stories of renown and wonder. It is said that a peasant who listened to a sermon outside a church gathered bits and pieces of the Christmas story to write a carol that is still sung today.
Even in recent memory there has been a prevailing thought that only certain individuals are capable of developing a business. This is usually linked to the social standing of the individual or to the accumulated wealth of his or her family.
In business success has typically been tied to who you are, who knows you and how deep your pockets are. If you didn't have the 'name', if you weren't recognized and you didn't have much money then your business would likely fail.
Ecommerce views every business owner as equal. There is no distinction and no preconceived ideas about the background or abilities of the business owner.
The link for all good online businesses is the ability to develop trust. If you are conscientious about providing exceptional customer service and superior products you may likely discover an improved customer base no matter what your personal background is like.
A blue-collar worker with a big idea has every reason to believe they can succeed online. A hard working rancher can develop an idea from their land of wide-open spaces and it may succeed. A single mom struggling to make ends meet might just come up with an idea that contains all the elements for a hit.
Rules that have always seemed as if they are designed for the 'haves' and 'have nots' no longer seem valid in an online business environment. The role of cyberspace is to equalize the impact of business ideas.
How does it do that?
In an online world you are going after customers on a global scale. You are no longer judged on your past failures or successes you are simply judged on your ability to deliver and provide quality products or services - now. If you can do that most customers would not even think to inquire about your lineage or stock portfolio.
An online environment can be one of the least discriminating places on earth. Your online presence is what speaks most to your product offerings and ability to fulfill your promises.
So, in a barn in Utah, a kitchen in Harlem or a neighborhood garage in New Jersey there are likely online businesses that are being developed to improve the quality of life for families that have struggled long enough.
Perhaps the most interesting irony in this is that some of the customers who frequent these 'great idea' sites may be white-collar workers who are less interested in the dynamics of the online business and more interested in receiving what they need.
Thinking Of Selling Goods Over The Internet?
Online Sales (E-commerce) has a huge number of benefits mainly being that you are opening your shop/ services up to the whole world, and with a well designed system can be easy to manage and maintain. One of the main downfalls is the set up cost an e-commerce system can cost a considerable amount of money, and once it is set up usually you must pay for maintenance costs in case issues arise with the system later down the line.
Another cost that people often over look is actually marketing your online store, if no one knows that your stores exist it will be redundant. Then you have to take on the cost of paying an internet marketing expert who will help your store get online visibility.
Before opening your online store why not test the market place by using companies such as Amazon or even eBay? These are great places to see if there is a demand for your products with out taking on heavy overheads. eBay the online market place is not the perfect solution for this problem, eBay is losing its good reputation due to the amount of people using E bay for the wrong reasons. This is where Amazon steps in, in my opinion Amazon is the best online store available on the Internet.
Amazon is safe secure and reliable and also has numerous offers available on a wide range of goods. Amazon has a brilliant feature, it allows you to open a dedicated shop within Amazon, where you can style the pages and sell all of your goods. Using Amazons online shop has a number of benefits mainly being that you can build your online store yourself and will benefit from a secure system.
You can then add links to your own web site straight into your Amazon shop allowing customers to buy your products. You will also receive the promotion for your goods ! The only real downfall will be that Amazon takes a small cut of your profit, but considered this against the money you could spend on an online store it is a small fee.
If your store then becomes a success then considered opening your own online store, maybe with the profits you made from Amazon. Good luck !
Another cost that people often over look is actually marketing your online store, if no one knows that your stores exist it will be redundant. Then you have to take on the cost of paying an internet marketing expert who will help your store get online visibility.
Before opening your online store why not test the market place by using companies such as Amazon or even eBay? These are great places to see if there is a demand for your products with out taking on heavy overheads. eBay the online market place is not the perfect solution for this problem, eBay is losing its good reputation due to the amount of people using E bay for the wrong reasons. This is where Amazon steps in, in my opinion Amazon is the best online store available on the Internet.
Amazon is safe secure and reliable and also has numerous offers available on a wide range of goods. Amazon has a brilliant feature, it allows you to open a dedicated shop within Amazon, where you can style the pages and sell all of your goods. Using Amazons online shop has a number of benefits mainly being that you can build your online store yourself and will benefit from a secure system.
You can then add links to your own web site straight into your Amazon shop allowing customers to buy your products. You will also receive the promotion for your goods ! The only real downfall will be that Amazon takes a small cut of your profit, but considered this against the money you could spend on an online store it is a small fee.
If your store then becomes a success then considered opening your own online store, maybe with the profits you made from Amazon. Good luck !
Monday, February 18, 2008
B2Bs Are Rendezvous for Megabuck Deals
In international trade, one business house to find another business entity of related trading need is of paramount importance. History indicates that prior to the existence of Business to Business (B2B) web portals; the whole business process was a long-drawn-out one, which involved a lot of time, money and energy. The arrival of B2Bs in the world of e-commerce has eventually transformed the way businesses are done around the world today.
The concept of B2B portal should be termed as the most amazing invention in the world of business. While they sprout one after the other in the web world, no one doubts about the success of the concept, but perhaps which one would remain among them in the long run. All the leading B2B portals are vying with one another by providing customized solutions for their clients' international trade needs. B2Bs are not just portals with a vast database of exporters and importers alone but also as that of transporters and other related service providers.
Conventional channels of international trade involved massive financial outlay. Therefore, most of the domestic traders as well as others who wished to enter exim business used to ward away from such ventures. But B2Bs allayed such fears by enabling them to use the provided platform as a testing ground to gauge the interest of their product or/and services in the international market. Hence, B2Bs allowed, especially the new player to de-risk oneself from incurring enormous blind investments before making serious plunge into those markets straight away.
During the early days of B2Bs, they used to have only the data base of exporters, importers, transporters and service providers. But today they have a section dedicated to provide information about trade shows happening across the world. Besides, they have subsidiary services like latest news, and forums to exchange one's concerns and experiences of international business.
Some of the leading portals has a mechanism to clean up or/and screen profiles deemed as spammers and fraudsters. Yet deals on B2Bs should be given the same diligent care that you give to do any business, to avoid any kind of disappointment. As a safety measure, one should try to deal with the premium members because some of the leading B2Bs, approve the paid up members company profile after making a back ground check.
Successful converts of B2Bs have started utilizing the services of multiple B2Bs instead of being listed in just one of them for ensuring quick business response. Even conventional international traders and those traders with self networks admit that a giant share of the future overseas businesses would be through B2Bs. Incidentally, various governmental organizations with exim arms too make use of the services of B2Bs.
The concept of B2B portal should be termed as the most amazing invention in the world of business. While they sprout one after the other in the web world, no one doubts about the success of the concept, but perhaps which one would remain among them in the long run. All the leading B2B portals are vying with one another by providing customized solutions for their clients' international trade needs. B2Bs are not just portals with a vast database of exporters and importers alone but also as that of transporters and other related service providers.
Conventional channels of international trade involved massive financial outlay. Therefore, most of the domestic traders as well as others who wished to enter exim business used to ward away from such ventures. But B2Bs allayed such fears by enabling them to use the provided platform as a testing ground to gauge the interest of their product or/and services in the international market. Hence, B2Bs allowed, especially the new player to de-risk oneself from incurring enormous blind investments before making serious plunge into those markets straight away.
During the early days of B2Bs, they used to have only the data base of exporters, importers, transporters and service providers. But today they have a section dedicated to provide information about trade shows happening across the world. Besides, they have subsidiary services like latest news, and forums to exchange one's concerns and experiences of international business.
Some of the leading portals has a mechanism to clean up or/and screen profiles deemed as spammers and fraudsters. Yet deals on B2Bs should be given the same diligent care that you give to do any business, to avoid any kind of disappointment. As a safety measure, one should try to deal with the premium members because some of the leading B2Bs, approve the paid up members company profile after making a back ground check.
Successful converts of B2Bs have started utilizing the services of multiple B2Bs instead of being listed in just one of them for ensuring quick business response. Even conventional international traders and those traders with self networks admit that a giant share of the future overseas businesses would be through B2Bs. Incidentally, various governmental organizations with exim arms too make use of the services of B2Bs.
Ecommerce 101 - 5 Tips on What Your Customers Want
Getting inside the head of an e-commerce shopper can be a daunting task. There are many variables when it comes to the question of conversions; including product cost, professionalism of your website, shipping factors, payment options and much more. With the rise of e-commerce comes increased competition. Don't think that your customers won't search out your exact same product on your competitors site to find the lowest cost. With seemingly endless availability, how can you ensure your business gets the attention and the customers it needs to survive?
Today, online shoppers want to deal with a credible business and buy a product that will last. Assuming your website receives a healthy flow of traffic, you need to take those prospects and convert them into sales. Because shoppers can find what they're looking for in a variety of places, you need to provide them with the additional information, the extra mile that makes them comfortable with an initial purchase, and keeps them coming back for more. With that being said, the most important factor in the purchase decision is by far one word; trust. And not only trust in the company they're purchasing from, but trust in the product they're purchasing. Without this, your competitor is more likely to garner your business. Here's some tips on how to ensure your website isn't losing business due to lack of trust:
1. Include your business and contact information on your website (including your phone number), and any organizations that you belong to that have to deal with credibility. Shoppers may research you before making a purchase and definitely want more than an email address in case something goes wrong.
2. Showcase positive customer testimonials. Nothing is more powerful than another consumer giving their recommendation on a business or product.
3. Highlight the fact that shopping on your site is secure. Whatever layer of encryption or method your merchant account uses, make sure your customers know it's safe to give out their credit card information.
4. Give your business a voice and personality. Let people know who you are, why you're in this business and how important customer service is to you. People want to know who they're buying from.
5. Professionalism. Make sure your site is easy to navigate, designed well, and conveys the idea that it's a real business so customers know how to find what they're looking for. There's a standard that people are used to, and you need to be at or above that line when it comes to your website.
The easiest way to meet all these requirements is to implement a business blog. This will provide a forum for you to give your shoppers what they need when it comes to trust, and it will also ensure they have the best opportunity to become your customer for a lifetime. A blog allows you to post testimonials, reviews, company information and also give your business that all-important voice. When it comes down to a decision on whether or not to purchase from your site or a competitors, a business blog that conveys professionalism and trust could be the deciding factor that allows those sales to start rolling in.
Today, online shoppers want to deal with a credible business and buy a product that will last. Assuming your website receives a healthy flow of traffic, you need to take those prospects and convert them into sales. Because shoppers can find what they're looking for in a variety of places, you need to provide them with the additional information, the extra mile that makes them comfortable with an initial purchase, and keeps them coming back for more. With that being said, the most important factor in the purchase decision is by far one word; trust. And not only trust in the company they're purchasing from, but trust in the product they're purchasing. Without this, your competitor is more likely to garner your business. Here's some tips on how to ensure your website isn't losing business due to lack of trust:
1. Include your business and contact information on your website (including your phone number), and any organizations that you belong to that have to deal with credibility. Shoppers may research you before making a purchase and definitely want more than an email address in case something goes wrong.
2. Showcase positive customer testimonials. Nothing is more powerful than another consumer giving their recommendation on a business or product.
3. Highlight the fact that shopping on your site is secure. Whatever layer of encryption or method your merchant account uses, make sure your customers know it's safe to give out their credit card information.
4. Give your business a voice and personality. Let people know who you are, why you're in this business and how important customer service is to you. People want to know who they're buying from.
5. Professionalism. Make sure your site is easy to navigate, designed well, and conveys the idea that it's a real business so customers know how to find what they're looking for. There's a standard that people are used to, and you need to be at or above that line when it comes to your website.
The easiest way to meet all these requirements is to implement a business blog. This will provide a forum for you to give your shoppers what they need when it comes to trust, and it will also ensure they have the best opportunity to become your customer for a lifetime. A blog allows you to post testimonials, reviews, company information and also give your business that all-important voice. When it comes down to a decision on whether or not to purchase from your site or a competitors, a business blog that conveys professionalism and trust could be the deciding factor that allows those sales to start rolling in.
Thursday, February 14, 2008
How To Make Sure You Don't Get Ripped Off When Shopping Online
Ignore Product Emails
Anyone with an email address is aware that spam is very much prevalent especially when it comes to shopping times such as holidays. Ignore any unsolicited email that you may receive because many of these will lead you to websites that may look real but can in fact be clever fake websites specifically setup to steal your private information. Even if an email seems like it is real, you should never click on a link sent to you in an email. If you feel that the email is real, physically type in the link and go from there.
Bait and Switch
A bait and switch is a scam that has been around for decades in offline stores and it works by a store promising to sell an item such as a radio for $50 and when you go to buy the item, you will find they either claim to be out of stock and instead lead you to a more expensive item or the product that they are selling is a cheaper version. With online stores this is a real concern because unlike an offline store in which you can look at the product immediately, with online stores you don't know what you will get until the item is delivered.
Use a Credit Card
In the case of a bait and switch or other problem that may occur with online shopping, you should always try to make a purchase with a credit card. Your bank will usually help take care of any problems or scams and you can cancel a payment and have other proof that you are being cheated or intentionally ripped off.
Check for Security Authentication
Most of the larger online retailers will have had audits done to check the integrity of their site. Companies such as ScanAlert run security checks on a site to determine if it is safe from hacker attacks. If a site is showing a ScanAlert logo you can be certain it is secure against any potential threats.
Pay Attention to Shipping Prices
If a deal seems too good to be true you could be right. There are many scams running online at auctions or stores and one of them involves the shipping price of an item. To make money a store will list a product cheaply and then when you add it to your shopping card and go to checkout, you are charged a ridiculously high shipping price.
Anyone with an email address is aware that spam is very much prevalent especially when it comes to shopping times such as holidays. Ignore any unsolicited email that you may receive because many of these will lead you to websites that may look real but can in fact be clever fake websites specifically setup to steal your private information. Even if an email seems like it is real, you should never click on a link sent to you in an email. If you feel that the email is real, physically type in the link and go from there.
Bait and Switch
A bait and switch is a scam that has been around for decades in offline stores and it works by a store promising to sell an item such as a radio for $50 and when you go to buy the item, you will find they either claim to be out of stock and instead lead you to a more expensive item or the product that they are selling is a cheaper version. With online stores this is a real concern because unlike an offline store in which you can look at the product immediately, with online stores you don't know what you will get until the item is delivered.
Use a Credit Card
In the case of a bait and switch or other problem that may occur with online shopping, you should always try to make a purchase with a credit card. Your bank will usually help take care of any problems or scams and you can cancel a payment and have other proof that you are being cheated or intentionally ripped off.
Check for Security Authentication
Most of the larger online retailers will have had audits done to check the integrity of their site. Companies such as ScanAlert run security checks on a site to determine if it is safe from hacker attacks. If a site is showing a ScanAlert logo you can be certain it is secure against any potential threats.
Pay Attention to Shipping Prices
If a deal seems too good to be true you could be right. There are many scams running online at auctions or stores and one of them involves the shipping price of an item. To make money a store will list a product cheaply and then when you add it to your shopping card and go to checkout, you are charged a ridiculously high shipping price.
Remove the Mystery from the Credit Card Processing Choice
If you're a Web business person that is new to the credit card processing world, it can seem too complicated to be worth pursuing. But with the explosion of credit-card use for internet shopping, e-retailers can no longer afford not to process plastic. However, with hundreds of companies offering merchant services, how do you choose.
One way to sort through the scores of providers is to find sales reps willing to take their time and talk you through the process and relevant fees. This is a great way to separate the great companies from those who are just trying to hit a sales quota. Plus, it gives you multiple chances to hone your expertise as a merchant account services consumer, thus, make a wiser decision.
However, before you cogitate over some of the processes, as well as the fees you will be paying, regardless of what company you choose, let's spend some time looking at items you should never have to spend money on.
Merchant Account Application Fee - This is a fancy way of saying you're submitting an application for credit card processing services. It's not radically different from applying for a credit card. The company you're applying to will look at your financials, as well as your business, and make their decision from there. Some of the more established companies will be able to have some approved e-retailers processing plastic within 24 hours. Others may not be processing that quickly, but the approval should come in a day or so.
Internet Credit Card Processing Software with Web Terminal - Another tumble of words that basically says they have you set up, via your computer, to handle credit card transactions. Some of the lesser players have a price tag of as much as $150 for this. Again, why pay for this when there are some great companies that provide it for free?
Checks by Web/Phone/Fax - Allows you to process checks as payment for those customers that don't want to use their credit cards or simply want another way to pay for their purchase from your Web store. This means you don't have to take a check, deposit it into your account and wait for it to clear. Some vendors price this fast-approval ability set-up at $300, while the established companies provide it gratis.
Web Shopping Cart - A valuable tool that allows people shopping your site to select a product, then keep browsing and pay for all items in one transaction. If this didn't exist, customers would be more likely to buy one thing and leave. This feeds into the internet shopper's profitable habit of making impulse buys.
Technical Support - You hope you never need it, but it is a lifesaver when you do. Some companies charge for this, which makes some e-merchants hesitant to call on a small problem, which means what might be a minor glitch might grow into a major issue if it doesn't get the immediate attention. Nothing should ever get between you and the smooth operation of your Web-based business - certainly not having to worry about the meter running while you're trying to solve problems and keep your business running.
One non-financial merchant services qualifier is the length of the approval cycle. Any company that needs a week or more to reach a decision on your application is not competitive. Indeed, that long a window for approval usually means you're dealing with a company that outsources everything, which means you'd be "dealing" with several companies, and that means a lot of costs will be getting passed along to you.
One way to sort through the scores of providers is to find sales reps willing to take their time and talk you through the process and relevant fees. This is a great way to separate the great companies from those who are just trying to hit a sales quota. Plus, it gives you multiple chances to hone your expertise as a merchant account services consumer, thus, make a wiser decision.
However, before you cogitate over some of the processes, as well as the fees you will be paying, regardless of what company you choose, let's spend some time looking at items you should never have to spend money on.
Merchant Account Application Fee - This is a fancy way of saying you're submitting an application for credit card processing services. It's not radically different from applying for a credit card. The company you're applying to will look at your financials, as well as your business, and make their decision from there. Some of the more established companies will be able to have some approved e-retailers processing plastic within 24 hours. Others may not be processing that quickly, but the approval should come in a day or so.
Internet Credit Card Processing Software with Web Terminal - Another tumble of words that basically says they have you set up, via your computer, to handle credit card transactions. Some of the lesser players have a price tag of as much as $150 for this. Again, why pay for this when there are some great companies that provide it for free?
Checks by Web/Phone/Fax - Allows you to process checks as payment for those customers that don't want to use their credit cards or simply want another way to pay for their purchase from your Web store. This means you don't have to take a check, deposit it into your account and wait for it to clear. Some vendors price this fast-approval ability set-up at $300, while the established companies provide it gratis.
Web Shopping Cart - A valuable tool that allows people shopping your site to select a product, then keep browsing and pay for all items in one transaction. If this didn't exist, customers would be more likely to buy one thing and leave. This feeds into the internet shopper's profitable habit of making impulse buys.
Technical Support - You hope you never need it, but it is a lifesaver when you do. Some companies charge for this, which makes some e-merchants hesitant to call on a small problem, which means what might be a minor glitch might grow into a major issue if it doesn't get the immediate attention. Nothing should ever get between you and the smooth operation of your Web-based business - certainly not having to worry about the meter running while you're trying to solve problems and keep your business running.
One non-financial merchant services qualifier is the length of the approval cycle. Any company that needs a week or more to reach a decision on your application is not competitive. Indeed, that long a window for approval usually means you're dealing with a company that outsources everything, which means you'd be "dealing" with several companies, and that means a lot of costs will be getting passed along to you.
Wednesday, February 13, 2008
Benefits Of Check 21 Remote Deposit Capture
# API Software Interface. Rolling out RDC is easy with quick integration with existing software.
# Multi-function platform. Check21-RDC, ACH, credit/debit card processing can all accommodated on the same platform.
# Banking Independence. Customers can use any financial institution desired as a depository account for the ultimate in flexibility. No new bank accounts are required. If the customer wishes to change banks at any time, continuity of RDC clearing (and smooth operations for customers) is assured.
# Online check image archives. Easy search and retrieve for any image transaction. All checks are archived online for fast and easy access making it simple to recover and share any payment documentation to customers.
# Automated resubmission of returns. XML/SOAP eliminates the need for manual handling of returns increasing productivity and cash flow.
# Full online reporting. The entire clearing and settlement process for each transaction is available online. Management reports can be compiled quickly through the manipulation of any variables.
# Faster access to money. Remote Deposit Capture fosters speedy check clearing resulting in drastically decreased settlement times. Depending upon underwriting criteria of the customer, funds can settle to accounts as quickly as the next business day. Faster settlement means increased cash flow and quicker availability of working capital for your customers' business.
# Reconciliation and management is infinitely easier. With RDC, checks are transmitted electronically eliminating the need for multiple depository accounts. Customers' finance departments will no longer be burdened with the time consuming administrative functions required to manage multiple accounts. Consolidation also enables customers to take advantage of volume based transactions discounts and will save them money on account maintenance fees.
# Saves time and money. Electronic image transfer means fewer trips to the bank, saving transportation costs and eliminating courier and/or mail fees. And, since checks are archived online, there is no need to photocopy checks before taking them to the bank saving money on copying and storage.
# Increase productivity. Much of the error-prone manual labor of check preparation is eliminated with RDC, freeing customers' employees to concentrate on other projects. Streamlining of check deposits management accelerates the smooth flow of your customers' business operations.
# Expanded banking hours. RDC expands the banking hours in your day by 50%. In an amazing gift of time, RDC deposits can be made up to 8 pm EST freeing customers of worries about meeting a 4 pm cutoff time. Additionally, RDC offers convenient 24-hour deposit capability. Deposit checks anytime, including nights, weekends, and holidays; after hours checks clear the next banking day.
# Decreased fraud risk. RDC gives customers the protection of computerized anti-fraud programs which are not available with paper check transactions. Electronic clearing includes anti-fraud algorithms and systems for customer security. In addition, shorter clearing times offer better protection against check fraud.
# Clear file delivery. In the rare case where a poor quality image is received, customers receive notification via email. They can immediately resubmit the information assuring near 100% clear file delivery.
# Geography disappears. Flexible online reporting means data can be rapidly shared with customers' management team, no matter where they are physically located.
# Multi-function platform. Check21-RDC, ACH, credit/debit card processing can all accommodated on the same platform.
# Banking Independence. Customers can use any financial institution desired as a depository account for the ultimate in flexibility. No new bank accounts are required. If the customer wishes to change banks at any time, continuity of RDC clearing (and smooth operations for customers) is assured.
# Online check image archives. Easy search and retrieve for any image transaction. All checks are archived online for fast and easy access making it simple to recover and share any payment documentation to customers.
# Automated resubmission of returns. XML/SOAP eliminates the need for manual handling of returns increasing productivity and cash flow.
# Full online reporting. The entire clearing and settlement process for each transaction is available online. Management reports can be compiled quickly through the manipulation of any variables.
# Faster access to money. Remote Deposit Capture fosters speedy check clearing resulting in drastically decreased settlement times. Depending upon underwriting criteria of the customer, funds can settle to accounts as quickly as the next business day. Faster settlement means increased cash flow and quicker availability of working capital for your customers' business.
# Reconciliation and management is infinitely easier. With RDC, checks are transmitted electronically eliminating the need for multiple depository accounts. Customers' finance departments will no longer be burdened with the time consuming administrative functions required to manage multiple accounts. Consolidation also enables customers to take advantage of volume based transactions discounts and will save them money on account maintenance fees.
# Saves time and money. Electronic image transfer means fewer trips to the bank, saving transportation costs and eliminating courier and/or mail fees. And, since checks are archived online, there is no need to photocopy checks before taking them to the bank saving money on copying and storage.
# Increase productivity. Much of the error-prone manual labor of check preparation is eliminated with RDC, freeing customers' employees to concentrate on other projects. Streamlining of check deposits management accelerates the smooth flow of your customers' business operations.
# Expanded banking hours. RDC expands the banking hours in your day by 50%. In an amazing gift of time, RDC deposits can be made up to 8 pm EST freeing customers of worries about meeting a 4 pm cutoff time. Additionally, RDC offers convenient 24-hour deposit capability. Deposit checks anytime, including nights, weekends, and holidays; after hours checks clear the next banking day.
# Decreased fraud risk. RDC gives customers the protection of computerized anti-fraud programs which are not available with paper check transactions. Electronic clearing includes anti-fraud algorithms and systems for customer security. In addition, shorter clearing times offer better protection against check fraud.
# Clear file delivery. In the rare case where a poor quality image is received, customers receive notification via email. They can immediately resubmit the information assuring near 100% clear file delivery.
# Geography disappears. Flexible online reporting means data can be rapidly shared with customers' management team, no matter where they are physically located.
How Does Your Landing Page Measure Up?
You managed to entice your email reader or web surfer to click your link or your ad. In today's cluttered web marketing world, that's quite an accomplishment. But don't start celebrating yet. It's what happens after the click that determines the success of your campaign.
And unfortunately, according to a recent SilverPop study, up to 50% of visitors leave your landing page within the first 8 seconds. So, what can you do to increase your conversions after the click?
First, don't panic, and don't feel too bad. A MarketingSherpa survey revealed that conversion rates for email campaigns average only 5.67 percent (11.31 percent for free offers). So you're definitely not alone in less than optimal campaign results. But if your conversions are significantly below these averages, you may want to take some time and implement a few of these changes:
1. Ensure that the text and promotional copy on your landing page match the text and promotional copy of your email campaign. Often times, the email message is written by a copywriter and the landing page is created by a web developer and the two messages are not in sync. One of the quickest fixes is to use the same headline on your landing page as you used in your email message.
2. Create a dedicated landing page for your campaign. If you are offering a widget on sale for $14, take the readers to the widget page. Do not dump them on your home page and expect them to crawl around looking for your widget.
3. Use the same look and feel in your email message or display ad that you use in your landing page. Landing pages that do not match the original ad end up confusing the visitors. They think they are in the wrong place and they end up clicking away from the page altogether.
4. Reduce your form fields as much as possible. Forms that require more than 10 fields result in significantly reduced conversions.
5. Eliminate navigation bars or other linking elements that might distract the visitor and cause him to click away.
And unfortunately, according to a recent SilverPop study, up to 50% of visitors leave your landing page within the first 8 seconds. So, what can you do to increase your conversions after the click?
First, don't panic, and don't feel too bad. A MarketingSherpa survey revealed that conversion rates for email campaigns average only 5.67 percent (11.31 percent for free offers). So you're definitely not alone in less than optimal campaign results. But if your conversions are significantly below these averages, you may want to take some time and implement a few of these changes:
1. Ensure that the text and promotional copy on your landing page match the text and promotional copy of your email campaign. Often times, the email message is written by a copywriter and the landing page is created by a web developer and the two messages are not in sync. One of the quickest fixes is to use the same headline on your landing page as you used in your email message.
2. Create a dedicated landing page for your campaign. If you are offering a widget on sale for $14, take the readers to the widget page. Do not dump them on your home page and expect them to crawl around looking for your widget.
3. Use the same look and feel in your email message or display ad that you use in your landing page. Landing pages that do not match the original ad end up confusing the visitors. They think they are in the wrong place and they end up clicking away from the page altogether.
4. Reduce your form fields as much as possible. Forms that require more than 10 fields result in significantly reduced conversions.
5. Eliminate navigation bars or other linking elements that might distract the visitor and cause him to click away.
Monday, February 11, 2008
How About An E-Commerce Business?
There are numerous ways to make money online. If you are the type who has always wanted to own your own store, but cannot afford the cost of starting a brick and mortar shop, an E-commerce website may be right for you. Even beginners who have never run a business before can handle these types of sites. Typically with this type of business you don't directly deal with products. That all gets handled for you by a distributor or parent company. All you have to do is set up the site, promote it, and then handle the profit from sales.
One option for E-commerce is to find distributors who will drop ship the type of goods you want to sell. After you find your distributor(s), you need to select how you want to set up your website. You can go with an all inclusive E-commerce hosting package (like Yahoo Merchant Solutions or similar system), which is nice because they give you tools for site design, catalogue building, and checkout tools. You can also design your own site, have it hosted through any web hosting solution, and incorporate checkout and catalogue tools yourself (checkout OScommerce.com for some cool open source solutions). Either way, you decide the items to list on your site. This method can be more time consuming to get up and running, but gives you more flexibility in the items you can carry.
Another form of E-commerce is where you partner with an existing company and they provide you with a "mirror" website. The downside to this type of system is that your inventory selection is typically limited to what is being carried by the parent company. If you are the busy type and are looking for something that is quick and easy to start up, this would be a good option. Everything is typically set up for you and automated, even the payment system installation. All that is left for you is to possibly tweak the site (in allowed) and promote it.
If you already have a website, a third option is affiliate advertising items for other companies. Many big name companies have affiliate programs you can join for free. You post links and banners to items and you get money for each item sold through your link. Companies like Amazon and Barnes & Noble only pay a small percentage for each sale, but have common and very popular consumer goods. Companies like Clickbank generally pay much more per sale, but tend to deal with informational products. The type goods you advertise should be determined by the nature of your website. If you already have steady traffic coming to your site and a target audience, this can be a good option for you.
One option for E-commerce is to find distributors who will drop ship the type of goods you want to sell. After you find your distributor(s), you need to select how you want to set up your website. You can go with an all inclusive E-commerce hosting package (like Yahoo Merchant Solutions or similar system), which is nice because they give you tools for site design, catalogue building, and checkout tools. You can also design your own site, have it hosted through any web hosting solution, and incorporate checkout and catalogue tools yourself (checkout OScommerce.com for some cool open source solutions). Either way, you decide the items to list on your site. This method can be more time consuming to get up and running, but gives you more flexibility in the items you can carry.
Another form of E-commerce is where you partner with an existing company and they provide you with a "mirror" website. The downside to this type of system is that your inventory selection is typically limited to what is being carried by the parent company. If you are the busy type and are looking for something that is quick and easy to start up, this would be a good option. Everything is typically set up for you and automated, even the payment system installation. All that is left for you is to possibly tweak the site (in allowed) and promote it.
If you already have a website, a third option is affiliate advertising items for other companies. Many big name companies have affiliate programs you can join for free. You post links and banners to items and you get money for each item sold through your link. Companies like Amazon and Barnes & Noble only pay a small percentage for each sale, but have common and very popular consumer goods. Companies like Clickbank generally pay much more per sale, but tend to deal with informational products. The type goods you advertise should be determined by the nature of your website. If you already have steady traffic coming to your site and a target audience, this can be a good option for you.
Benefits and Drawbacks of Working With a Dropshipping Wholesaler
The benefits of using a dropshipping wholesaler are plentiful:
1. You don’t have to invest in inventory; this saves you a ton of money and additional headache in case the goods are not selling well.
2. You don’t need to worry about a proper storage of your goods and/or investing in a warehouse, simply because you have no goods! In fact, you may never even touch the product you are selling!
3. You are not restricted to one type of a product only and are free to switch to other types as often as you want to. This gives you an opportunity to find your niche without much of a hassle.
4. You can offer unlimited number of products, without the need to open separate specialty shops for each product type, unless you want to.
5. You have no leftover items, which you would need to store and find ways to get rid of, compromising on the price.
6. The flow of cash starts with the very first item you sell. In a simplified way, the process looks like this: the buyer pays you, you pay to the dropshipping wholesaler, and the difference between the two prices makes your profit.
7. You are spared of the trouble to pack, handle and ship the items. You save money as well, even though your dropshipping wholesaler charges you for the delivery. But in case you handled the delivery of the product yourself, you would have spent much more, leaving little room for profit.
8. With most dropship suppliers you qualify for the wholesale price without the need to place a minimum order.
However, like in any business there are certain risks involved as well:
1. You have little control over the entire process, and can’t help if mistakes and delays happen.
2. You are held responsible for the item’s lousy quality, shipping damages, poor packaging, slow delivery and other problems that may occur thanks to a poorly chosen dropshipping wholesaler. All this affects your market reputation and can kill your business in no time, especially if you operate on such platforms as eBay, where the customer’s feedback is vital.
3. You are normally not informed when a certain product is sold out, so you may continue to offer it in your shop until you get angry inquiries from your customer on the reasons why the purchase hasn’t arrived yet.
Choosing a dropshipping wholesaler you may need to make a couple of test purchases to evaluate the quality and overall service, find out what policies the company has, and get a feedback from its former or current partners.
1. You don’t have to invest in inventory; this saves you a ton of money and additional headache in case the goods are not selling well.
2. You don’t need to worry about a proper storage of your goods and/or investing in a warehouse, simply because you have no goods! In fact, you may never even touch the product you are selling!
3. You are not restricted to one type of a product only and are free to switch to other types as often as you want to. This gives you an opportunity to find your niche without much of a hassle.
4. You can offer unlimited number of products, without the need to open separate specialty shops for each product type, unless you want to.
5. You have no leftover items, which you would need to store and find ways to get rid of, compromising on the price.
6. The flow of cash starts with the very first item you sell. In a simplified way, the process looks like this: the buyer pays you, you pay to the dropshipping wholesaler, and the difference between the two prices makes your profit.
7. You are spared of the trouble to pack, handle and ship the items. You save money as well, even though your dropshipping wholesaler charges you for the delivery. But in case you handled the delivery of the product yourself, you would have spent much more, leaving little room for profit.
8. With most dropship suppliers you qualify for the wholesale price without the need to place a minimum order.
However, like in any business there are certain risks involved as well:
1. You have little control over the entire process, and can’t help if mistakes and delays happen.
2. You are held responsible for the item’s lousy quality, shipping damages, poor packaging, slow delivery and other problems that may occur thanks to a poorly chosen dropshipping wholesaler. All this affects your market reputation and can kill your business in no time, especially if you operate on such platforms as eBay, where the customer’s feedback is vital.
3. You are normally not informed when a certain product is sold out, so you may continue to offer it in your shop until you get angry inquiries from your customer on the reasons why the purchase hasn’t arrived yet.
Choosing a dropshipping wholesaler you may need to make a couple of test purchases to evaluate the quality and overall service, find out what policies the company has, and get a feedback from its former or current partners.
Friday, February 08, 2008
Ecommerce - Some Ways To Profit
With the advent of Internet and the Information Technology, doing business online has become an all time favorite to almost everybody today. Almost all online businesses need some transactions to happen which are also done online. In order to carry on such transactions a wide choice of media is available to people. One such popular and widely used media for online transactions is Ecommerce. Online transactions are made possible by combining the technology involved in the internet along with the methodology of Ecommerce. It is actually believed to be the most effective tool and also a potential income generating tool. Interested in learning more about Ecommerce? Continue reading...
A facility of a 24 by 7 i.e. 24 hours a day and 7 days a week, online store is offered by ecommerce. Hence it is believed to be a blessing for most of the entrepreneurs as the customer service offered by it round the clock. Also this facility of round the clock customer service helps in providing support systems to a number of clients.
Staffing solutions, which are believed to the most expensive for any business, are made easy and inexpensive by Ecommerce as the number of people needed to work for it is less. This in turn is believed to save a lot of money for investors.
The factor of higher reach to people across the world is high when it comes to Ecommerce. A wider geographical means is made possible by Ecommerce. Because of the facility of internet, the geographical and demographical reach of ecommerce is more.
A facility of a 24 by 7 i.e. 24 hours a day and 7 days a week, online store is offered by ecommerce. Hence it is believed to be a blessing for most of the entrepreneurs as the customer service offered by it round the clock. Also this facility of round the clock customer service helps in providing support systems to a number of clients.
Staffing solutions, which are believed to the most expensive for any business, are made easy and inexpensive by Ecommerce as the number of people needed to work for it is less. This in turn is believed to save a lot of money for investors.
The factor of higher reach to people across the world is high when it comes to Ecommerce. A wider geographical means is made possible by Ecommerce. Because of the facility of internet, the geographical and demographical reach of ecommerce is more.
3 Steps Of Ecommerce Web Site Development
When it comes to ecommerce web site development the ultimate goal of the web site is to lead customers to buy products from your site. There are three steps for affordable web design with your ecommerce web site:
Step 1: Design Your Web Site
One must at the very beginning decide on the amount that is to be spent on getting the web site designed. Only after this is done should one start to choose a Web site designing firm. Thus the affordability analysis should be also taken into consideration while making the final decision. Regardless of the price of the web site design you are paying for, it is advisable to look at all possible options before making a decision and choosing a company. Good web site design is when there will be an obvious return on investment, over a set term.
Designing an ecommerce web site is quite different than designing other types of web sites. Most stores use an online catalog type of format organized by category. You will need crystal clear pictures of each item you're selling, as well as a detailed description to tell customers everything they need to know. An ecommerce web site must not only present the merchandise effectively, it must provide a safe and easy way for customers to order.
Step 2: Set up Your Store
Your customers will browse at your web site, select some items, and then pay for them. When you set up an e-commerce shopping cart, you're providing a way for your customers to bring their purchases to the cash register. The program you choose will allow you to enter your products in the database and allow shoppers to choose products when they click on "Add to cart" or something similar.
There are elements for a installing ecommerce web site:
* Domain. Domain names are very essential aspects of any web site business. These may have been the most overlooked areas but the impact that they can bring about to any business is so immense. It is for this reason that the name you choose should be carefully studied and analyzed before they are purchased and used.
* Web hosting. After you have determined that your future web site host is a reliable, well established company, let's look at their offer's technical details and understand what they stand for. There are many factors that determine a good and reliable hosting company such as: Reliability, Bandwidth, File Storage Space, Reputation, Statistics, Control Panel, Support, Backups, Range Of Services, Cost, and more.
* Ecommerce script/ software. Store owners can set up their online stores using ecommerce script/ software with either free or paid ecommerce script/ software. For small stores, it has all the features you need for an online store. For example: OScommerce, Zen Cart, PHP Auction, Cube Cart, Open Realty, Miva Merchant, etc.
* Payment processor gateway. When customers arrive at the checkout counter, you need a way for their payments to be transferred from their credit card accounts to your bank account. The method you choose may depend on your sales volume. There are popular payment processor companies: PayPal, 2CheckOut, Authorize.net and WorldPay.
Step 3: Promote Your Web Site To Worldwide
Here are some ways you can get web traffic to your web site. A new website might get 10 - 20 vistor's daily. If your web site is good and improved frequently it will give you up to 100 - 200 vistor's daily. Some websites will have up to more 1,000 vistors daily. Then its essential you promote your product or service. Some ways have proven as the most efficient in generating traffic to your web site: Pay Per Click, Article Submission, Press Release, Link Exchange, Directories Submission, and more.
Step 1: Design Your Web Site
One must at the very beginning decide on the amount that is to be spent on getting the web site designed. Only after this is done should one start to choose a Web site designing firm. Thus the affordability analysis should be also taken into consideration while making the final decision. Regardless of the price of the web site design you are paying for, it is advisable to look at all possible options before making a decision and choosing a company. Good web site design is when there will be an obvious return on investment, over a set term.
Designing an ecommerce web site is quite different than designing other types of web sites. Most stores use an online catalog type of format organized by category. You will need crystal clear pictures of each item you're selling, as well as a detailed description to tell customers everything they need to know. An ecommerce web site must not only present the merchandise effectively, it must provide a safe and easy way for customers to order.
Step 2: Set up Your Store
Your customers will browse at your web site, select some items, and then pay for them. When you set up an e-commerce shopping cart, you're providing a way for your customers to bring their purchases to the cash register. The program you choose will allow you to enter your products in the database and allow shoppers to choose products when they click on "Add to cart" or something similar.
There are elements for a installing ecommerce web site:
* Domain. Domain names are very essential aspects of any web site business. These may have been the most overlooked areas but the impact that they can bring about to any business is so immense. It is for this reason that the name you choose should be carefully studied and analyzed before they are purchased and used.
* Web hosting. After you have determined that your future web site host is a reliable, well established company, let's look at their offer's technical details and understand what they stand for. There are many factors that determine a good and reliable hosting company such as: Reliability, Bandwidth, File Storage Space, Reputation, Statistics, Control Panel, Support, Backups, Range Of Services, Cost, and more.
* Ecommerce script/ software. Store owners can set up their online stores using ecommerce script/ software with either free or paid ecommerce script/ software. For small stores, it has all the features you need for an online store. For example: OScommerce, Zen Cart, PHP Auction, Cube Cart, Open Realty, Miva Merchant, etc.
* Payment processor gateway. When customers arrive at the checkout counter, you need a way for their payments to be transferred from their credit card accounts to your bank account. The method you choose may depend on your sales volume. There are popular payment processor companies: PayPal, 2CheckOut, Authorize.net and WorldPay.
Step 3: Promote Your Web Site To Worldwide
Here are some ways you can get web traffic to your web site. A new website might get 10 - 20 vistor's daily. If your web site is good and improved frequently it will give you up to 100 - 200 vistor's daily. Some websites will have up to more 1,000 vistors daily. Then its essential you promote your product or service. Some ways have proven as the most efficient in generating traffic to your web site: Pay Per Click, Article Submission, Press Release, Link Exchange, Directories Submission, and more.
Thursday, February 07, 2008
What a Free Dropship Wholesaler Means and How You Can Find One
Finding a reliable dropship wholesaler is half work done, when you are setting up an online reselling business. It spares you tons of efforts, time and money, bringing a regular flow of profit from virtually nothing. You never even get your hands on the products you sell, not to mention storage, packaging, shipping costs, and unsold leftovers. In other words, you are just a retailer who finds buyers for a manufacturer’s goods and benefits on the difference between the wholesale value and the final sale price.
Some resell business owners assume that free dropship wholesalers are those ones who don’t charge for shipping the goods to the buyers. If this is your idea of a free dropshipping company, then you may get disappointed – they simply don’t exist. A free dropship wholesaler is one that doesn’t charge you for utilizing its services; however, that doesn’t apply to shipping costs.
Bear in mind that not all distribution companies are free – many of them do charge an additional fee for using their services. As a result, this adds to your overall expenses, cutting from the potential profit. The fee may vary significantly and can be applied monthly, annually or per transaction, so in your search for good wholesale suppliers you also need to take this into an account.
Of course, ideally, your dropship wholesaler should be free. This can give you an opportunity to come up with lower prices than what your competitors offer and draw clientele in no time. Consequently, if your sales show a clear tendency to increase, the company may provide you with additional discounts, meaning more profit in the long run.
However, a free dropship wholesaler doesn’t always mean the best, and you have to estimate a lot of factors when choosing one. Don’t focus on money matters only – a good reputation, quality of goods and fast delivery are just as important. After all, your own reputation and the fate of your resell business largely depend on the supplier you choose.
To find a good distribution company that is also free may be really hard if you are just starting off. The Internet has plenty of resources, but to sort out which are genuine and which are just middlemen, waiting to chop off their share, can be daunting. By simply clicking on the top sites a Google search page returns you are very unlikely to find what you really need. You may have to rummage in hundreds of websites in order to find at least one dropship wholesaler that is a genuine company and not a middleman.
Online directories of suppliers may or may not be a good source. Almost all of them are paid and scam risks are plentiful. In case you don’t want to use the directories, you have no other choice but relying on somebody else’s experience.
Some resell business owners assume that free dropship wholesalers are those ones who don’t charge for shipping the goods to the buyers. If this is your idea of a free dropshipping company, then you may get disappointed – they simply don’t exist. A free dropship wholesaler is one that doesn’t charge you for utilizing its services; however, that doesn’t apply to shipping costs.
Bear in mind that not all distribution companies are free – many of them do charge an additional fee for using their services. As a result, this adds to your overall expenses, cutting from the potential profit. The fee may vary significantly and can be applied monthly, annually or per transaction, so in your search for good wholesale suppliers you also need to take this into an account.
Of course, ideally, your dropship wholesaler should be free. This can give you an opportunity to come up with lower prices than what your competitors offer and draw clientele in no time. Consequently, if your sales show a clear tendency to increase, the company may provide you with additional discounts, meaning more profit in the long run.
However, a free dropship wholesaler doesn’t always mean the best, and you have to estimate a lot of factors when choosing one. Don’t focus on money matters only – a good reputation, quality of goods and fast delivery are just as important. After all, your own reputation and the fate of your resell business largely depend on the supplier you choose.
To find a good distribution company that is also free may be really hard if you are just starting off. The Internet has plenty of resources, but to sort out which are genuine and which are just middlemen, waiting to chop off their share, can be daunting. By simply clicking on the top sites a Google search page returns you are very unlikely to find what you really need. You may have to rummage in hundreds of websites in order to find at least one dropship wholesaler that is a genuine company and not a middleman.
Online directories of suppliers may or may not be a good source. Almost all of them are paid and scam risks are plentiful. In case you don’t want to use the directories, you have no other choice but relying on somebody else’s experience.
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