Sunday, November 28

Watch out: These 5 hurdles make your start into e-commerce difficult

Anyone who wants to sell something today can no longer avoid e-commerce. Even smaller shops follow a multi-channel approach and provide an online shop in order to reach a larger target group. Others even focus exclusively on online trading at the beginning. But unfortunately it is not that simple, because there are many traps waiting on the way to a successful online shop, which not only eat up time, but can also significantly reduce the profit margin.

1. Credit card or prepayment only …

… is now not even the minimum for online shopping. The right choice of payment options is a real boost for your online shop. A high abandonment rate in the checkout process can be one of the indicators that you have to follow suit with the payment models. So let’s get into the fray of numbers. But this is where the real trap lurks, because all of them Payment-Service-Provider Integrating (PSP for short) can be complicated and costly because each provider has different fees. So you have to weigh which PSPs are worthwhile and which cause too much bureaucracy.

With all payment models, you can quickly sink into a mess of paper. (Photo: otnaydur / Shutterstock)



2. Always these bills …

… the customers think so too. And not only can they lose track of the bills, you can too. Who do you have to send a reminder and who is lagging behind with the installment payment? It must be possible to answer these questions constantly. However, it is not only the outstanding claims that are challenging, but also having the receipts to hand at all times often means stress. It becomes even more complicated when some customers want to receive digitally, but others want to receive them in printed form. Only a good system can help against this.



3. Finally abroad …

… is not only a holiday destination, but also represents a real milestone for many shops. Internationalization is at the top of the list, especially for motivated startups. But those who sell abroad unprepared often see their profit margins shrinking. The reason for this is not just higher shipping costs. Often it is the taxes in the recipient country that worry shop operators, because VAT is paid in the recipient country. In addition, a sales tax declaration is required for each country in which you want to sell. Once you have fought your way through the tax chaos, you still need to consider the exchange rates for the various currencies. The leap abroad therefore requires careful consideration and well-thought-out processes.

The picture shows a woman at her workplace in the storage room, with her MacBook standing in front of her.  She scans packages.  In the background you can see other parcels for which the dispatch is still being prepared.

When shipping abroad, it can get very expensive very quickly. (Photo: insta_photos / Shutterstock)



4. Lose the overview …

… you can also do the bookkeeping. Because with different invoices, tax rates and payment types, different margins follow. This makes success feel more like failure. Because the more customers shop or take out a subscription, the more invoices and payment flows have to be managed. Good financial management has advantages: It provides a lot of insights into payment transactions, which can be used to identify popular and profitable means of payment. This is particularly useful for marketing strategies – but without a system, financial management, from which one could draw such important information, becomes a long torture.



5. Always be available …

Nexnet

Nexnet

Nexnet is one of the leading process outsourcing service providers for subscription billing and financial management.

… is not just a service in e-commerce, it is actually an obligation. 89 percent of all customers who have had a bad experience with their provider are willing to change providers. It is particularly important to have a contact person online if you have any questions about a product. Because if the question about the product cannot be answered directly, the will to buy is gone. Of course, not only the slow availability via email would be ideal. A good online shop also offers telephone availability and a chat, but that gobbles up resources. But that’s not the only trap: in the worst case, someone calls from abroad in a foreign language and you don’t understand a word. Ideally, customer support can be transferred to an external provider, but this step must also be carefully considered.



A help in all cases

With over 20 years of experience, nexnet offers a solution for all of these pitfalls with holistic outsourcing. Billing processes are automated by the company. Payment service providers can also be easily integrated: In no time at all, you can offer Paypal, Klarna and the like on your website.

In addition, nexnet takes care of the sub-ledger and the monthly accounts – your chaos of notes is also processed. If you want, you can also hand over receivables and receivables management. This makes the entire invoicing process child’s play – even with the upcoming internationalization. Instead of spending money on lawyers and auditors, nexnet observes, analyzes and evaluates legal regulations and changes. In this way, customer service can be outsourced. nexnet offers advice over the phone and in writing, the latter also via chat. So it’s really worth building a few bridges for your online shop here.

Learn more about nexnet here:

Now defuse traps

Reference-t3n.de

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