15.02 – Understanding Your Options
Taking your business online has never been easier with the range of affordable platforms and technology available. This section explores the various options for setting up your e-commerce presence and provides insights into choosing the best path for your business.
Rising Above the Competition
With the e-commerce market growing 20 percent annually, it’s essential to choose the right option for your business. Some choices include:
- Building your own e-commerce website
- Contracting with a service that manages product sales and fulfilment for you
- Setting up a storefront on a major e-commerce site like Amazon or eBay
Whichever option you choose, you’re embarking on an exciting journey for your business.
Building Your Own E-commerce Store
Numerous platforms offer do-it-yourself (DIY) e-commerce websites. It’s crucial to compare e-commerce platforms based on user reviews regarding ease of development, design, SEO management, payment and shipping processes, service, and tech support. Affordable options can provide features similar to those of big brand websites. For less than £100 a month, platforms like GoDaddy, Square, or Wix offer robust features.
Features Offered by Affordable Platforms
- Design Templates
- Analytics and Sales Dashboard
- Chatbots
- SEO tools and/or support
- Syncing to marketplaces like Amazon, eBay, Facebook
- Automated inventory management across multiple channels
- Abandoned cart recovery
- Segmented email campaigns
- Discounts and gift cards
- Automated tax calculations
- Card readers services (additional fees may apply)
- Email and text reminders for customers
- Online appointment scheduling
- Tools for managing business listings on Google, Yelp, etc.
- Posting to social media stores
- Email subscriber sign-up forms
Various website builders have different advantages. For instance, some platforms are highly rated for their easy integration with major marketplaces and point of sale systems.
Steps to Set Up an Online Store
- Choose your platform
- Define your product line and/or service offerings
- Customise an existing template around your brand persona and products
- Upload product images, pricing, and so on to your store
- Connect your store to a payment system and bank account for credit card fees
- Set up shipping options for customers
- Click the Publish button
Paying Someone Else to Do It for You
If DIY isn’t your preference, many sites can manage e-commerce functions for you. Some specialise in specific business lines. For example, certain companies host storefronts for photographers, managing shops and fulfilling orders for a percentage of your revenue.
Consider the time you have available for maintaining your site, managing inventory uploads, reviewing analytics and sales dashboards, and other tasks. If time is limited, outsourcing these functions may be the best option.
When evaluating platforms that manage sites and processes, pay attention to the cost of processing each order. Compare these fees to the commissions you would pay resellers, brokers, retailers, or galleries.
By understanding your options and choosing the right path, you can set up a successful e-commerce program that meets your business needs and maximises your online presence.
