Question

Discuss some strategies that have been successful in EC for small businesses.

plus sources please

Answer 1

You may have the ambition and big ideas to make your company grow and prosper in the eCommerce industry, but it all doesn't matter if you don't have a strong eCommerce platform from which to start. It will take a toll on your vital decision-making process to choose the wrong platform for your company. When you're too busy trying to figure out how to set a new price for your product with a hard-to-use eCommerce site, it'll be hard to plan your business. With the help of a powerful eCommerce platform such as WooCommerce, you will have all the features you’ll need in order to create an amazing digital online store and plenty of help for the technical parts, such as choosing a website template, putting in products, setting the prices, putting in promotions, and more.

It is an unavoidable fact that your customers will always compare the price of their products with other rivals, so it is absolutely important to set the right price for it. A good pricing strategy not only puts you ahead of your rivals but also ensures that your customers are also satisfied. There are several ways to determine an item's size. Some of the tactics you may use are to follow market pricing for the goods being sold or to use keystone pricing, doubling the wholesale price.

It is critical that we choose the right eCommerce platform. The explanation is that another key strategy you need to incorporate for your company, which is to make the online store open to all types of customers, will be helpful. The online store is your key tool for communication with your customers and for transaction. Because of this, it needs to be able to relay information to the customers easily, accurately and most importantly, evoking a sense of confidence for your company.

In the digital world, safety and security issues are always a concern for consumers and businesses alike. With sensitive information such as credit card details and addresses being treated online on a daily basis, there is always a risk that this might fall into the wrong hands and cause the customers to grieve. Offer your clients peace of mind by using security features, like an SSL. Any data in a transaction will be encrypted with an SSL which will reduce the likelihood of breaching it. Go ahead and add two-factor authentication to make your online store even safer.

Source- Book on E commerce Fundamentals