As this blog has mentioned in the past, eCommerce is an ideal sales channel for small to midsize businesses because websites, platforms and payment gateways can be set up for much less money than it would cost to pay sales associates. However, there are risks in developing an eCommerce model as a small business - namely the increased competition.
Imagine yourself as a procurement specialist looking to buy company supplies from an online vendor. Small businesses can't match the prices of the big chains, so customers have little incentive to go with a smaller, and likely more expensive vendor.
That's why small vendors must go the extra mile to provide a perfect customer experience online. Presenting a fun, easy to use shopping experience is one way, as is implementing innovative payment solutions. Either way, small vendors must develop that edge that separates them from the competition.
A recent press release from Sunovis Financial - a business lending firm - discusses the importance of small vendors standing out from the crowd in a busy online marketplace.
"As a small business you already know that you can't compete online just based on price. If you want to create a user experience that keeps your customers coming back repeatedly you need to have exceptional service and products," the release says. "Determine what it is that sets you apart from your competition and build on that. Whether it's your free shipping, your online chat facility, or your personalized customer service, make it the best in your niche. Whatever it is that makes your business unique, make sure that you make it unmistakable on your homepage."
Of course, as we have discussed in the past, the best way for any company to increase its sales is by improving its payment process. Offering more efficient payment options to customer and using these solutions to reduce processing fees can help any vendor battle with the big players in its industry.