It has become a trend for start-up businesses and big-time ventures to shift to an eCommerce (Online) format during & right after the pandemic became a part of our everyday lives. For the most part, it kept their businesses going, and it continued to grow their sales while they were unable to sell face to face. No longer would they have to worry about the means that they’d have to go through to sell their products. Their customers may simply visit their online store, order an item, pay for it, and wait for you to ship it to them. Hassle-free, convenient, and fast, right? Well, not really.
If you want to follow in the footsteps of companies taking the eCommerce route now, you may want to consider the following tips to prevent some of the mistakes they went through during their first time. Avoiding their mistakes and considering these recommendations may just bag you more sales and customers in the process.
Integrate an End-to-End Accounting System
You must keep up with the numbers. Just because most of the processes involved in an eCommerce business are now automated doesn’t mean that you should overlook getting an accounting service for the job.
You need someone to keep tabs on the taxes, shipping fees, and other expenses of delivering the item to the consumers. Doing this will not only give you a clear view of all your profits, loss, and expenses, it will also give you a general idea of the eCommerce shipping process as a whole.
This is something the team at MKS Group can do for you, we can also give you business advice to ensure you and your business is staying as profitable as possible amidst a pandemic.
The Style of the Packaging
One mistake most eCommerce businesses make in their first few months on the job is that they often forget to make their items presentable. While you may argue that the packaging must be designed to protect the delivered items, one should also consider adding a few aesthetical choices.
Doing so can help make the customer feel that they are officially ordering from your brand and not some random supplier who just happens to put the item in a box filled with bubble wraps.
Making sure the package is presented nicely to your consumer will only add to the value, and thus more likely becoming a retained customer. Make sure you showcase your brand and make your brand proud.
The Geographical Range of Your e-Commerce Business
How far are you willing to ship your orders? Most of the time, the consumers are willing to pay for the shipping fees, especially if the item they’re purchasing is quite rare. However, that isn’t the case most of the time, and you may find yourself spending more on the shipping than the profit you are expecting to make.
Be sure to specify on your online store that orders are only limited within specific areas and that additional shipping fees may occur if the customer is located near the boundaries of these particular locations.
Conclusion
Running an eCommerce business isn’t easy, but you will manage it better by keeping the above tip in mind. Your main goal should be to garner more sales while maintaining your profits, and you will only be able to do that by following a system that works without having you spend so much on shipping fees.
Integrating the venture with an accounting system, improving your packaging, and limiting your location range may just save you a lot of money—and help you enjoy more profit.
At MKS Group, our purpose is to “Inspire, Educate and coach our community, in partnership, to help achieve their financial goals”. It is our business, to know your business so reach out to our team to partner with you on your business journey. Contact us today: 9374 8400 to learn how we can help your business!
