eCommerce can make or break your company.
Fifteen years ago, there was no such thing as ecommerce. Even just a few years ago, the conversation about ecommerce was whether or not people would get over their fear of the internet and start buying stuff from websites. Well, they did. The time has come to bring all aspects of your business to the internet.
eCommerce sales having been growing around 20% annually for the past few years. Much of that growth can be attributed to more companies moving sales from stores and showrooms to their webstes. It has become so common that not offering ecommerce is regarded as a sign that a company may not be legitimate. Having ecommerce today is like having a website five years ago - if you aren't in the game, your competitors are taking your customers.
Another shift in ecommerce is the depth of products and services offered. Today, you can buy anything on the internet. You can rent a movie, buy a car, shop for clothes, get legal advice, get your pet groomed, and on and on. For nearly every product or service available there is a way to collect sales revenue online. In some cases you need to be clever. Perhaps your product or service requires a face-to-face meeting with your customer. You can still sell gift certificates or discount coupons online.
Getting your online store up and running takes planning. Decide what you will offer online. Some companies only sell a portion of their products or services online. Other companies offer online customers more than they do their live customers. You need to decide what makes most sense for your business and your market. Research your competitors, then make your offering better - more products, better prices, easier shopping experience, etc.
Another aspect of planning ecommerce is complying with laws and credit card industry standards. The payment card industry (known as PCI) has eaten so many fraudulent purchases in the past, they have put some strict rules in place. PCI compliance is not optional. If you want to accept credit cards, you must follow the rules. Furthermore, the PCI has successfully pushed for more goverment regulation of credit card uasge. In some states, if you don't handle customer credit card information correctly, you can be held financially responsible for fraudulent activities. You can also go to jail.
This may seem like you have no where to turn. If you don't bring your business to the web, your competitors will run you out of business. But if you slip up, liability will run you out of business. The answer is simple. Don't jump into ecommerce without consulting with an expert. Ask us how we reduce ecommerce risk, or talk to your agency.
For more infomation about PCI compliance, read our white paper on the subject titled CREDIT CARD SECURITY.