Retail is moving to a digital model faster than ever. In order to remain competitive and continue to serve your customers, launching an Ecommerce site is essential. Here we break down exactly what you’ll need to get started.

Choose Your Payment Solution

The first thing you’ll need to decide before even attempting to build your Ecommerce site is how you will take your payments. Paypal is a popular option but your best bet is to hook up with a payment technology provider. Paypal can take a significant chunk of your profits whereas a company like Sterling Payment Technologies can offer you a customize solution to provide you with all of your Ecommerce payment processing needs. This will allow you to take several forms of electronic payment while still maintaining your profit margins.

Develop Or Update Your Website

There are many different paths you can take to develop your Ecommerce website. There are templates available for purchase where someone with basic coding knowledge can easily develop your site. In most cases it will be best to hire an expert to develop your site. There are laws and regulations that you will need to make sure you adhere to. Since these sites ideally will be processing a heavy amount of personal information, security and reliability are of the utmost importance.

Inventory Management

There is nothing more disheartening for a consumer than to see the dreaded “out of stock” label on a product they’re looking to purchase. This happening just one time could turn clients away from your website permanently. Not every small business is going to have a warehouse to store their goods.  There are other options such as private storage and virtual inventory. Virtual inventory allows you to leverage larger warehouses to fill your orders. The downside to this is you will need to give them a cut of your profits.

Special Pricing Model

Your price points are sure to be different on your Ecommerce site than in your storefront. The reason for this can be due to different target markets and also shipping costs. Many Ecommerce sites increase the prices of their products in order to offer free shipping. You’ll want to make sure you research similar products that your competitors offer online to determine an appropriate pricing model. You need to offer great value while still turning a reasonable profit.

Shipping Arrangements

There are many things to consider when it comes to shipping your products. Cost of course is the first thing to consider as this will affect your product pricing. You also need to focus on efficiency, product safety and distribution channels. You need to make sure that people are getting the correct product, undamaged, in a timely fashion.

Digital Marketing Campaigns

Now that you’ve decided to offer your products through Ecommerce, it’s time to get the word out.  Just like sales, marketing has become increasingly dependent upon technology. Developing blogs and promoting them through social media channels is a great way to increase the reach of your company. Hiring an experienced marketing firm to handle your campaigns will ensure you get the most out of your marketing dollars. With stiff competition between online retailers it’s important to focus on differentiators and what makes your product unique.

Funding To Launch

The return on investment from implementing an Ecommerce solution can provide your business with the reach and income to grow and thrive. Making these changes and creating a profitable site does come at a cost. If you’re looking to take your small business global through Ecommerce, consider a merchant cash advance from Quikstone Capital Solutions. Quikstone Capital Solutions helps small retail businesses to prosper in an ever-changing marketplace.