Launching a business may seem easy but is actually difficult considering the fierce competition and how customers’ expectations must be met and exceeded. Before you even begin to research for your business name or sign up for your merchant account, you need to come up with what to sell on your website first.
Moving online is so important. Even older generation are shopping online now.
What you sell will impact the other aspects of your business like name, marketing, loyalty programs, shipping, design, and such. So, let us find the things you need to start selling on your merchant website.
Regardless of the type of industry you pick to concentrate in, there are 2 types of products you can start selling:
- Commoditized products
- Niche products
Commoditized products refer to the products consumers highly need. Products or services from this category are essentials available in digital or physical forms. Commoditized products make up the biggest percentage in merchant accounts or stores like food, clothes, toys, sporting goods, mobile phones, and other consumer electronics.
On the other hand, niche products are made for a specific group of consumers. Think of diet meals such as keto meals or low carb products, all focused on health conscious consumers. Or selling of clothing and apparel focused on surfers and water sports enthusiasts.
However, most stores sell a combination of commoditized and niche products to maximize the market reach.
Apart from the products that you sell to meet the demands of the consumers, there are also other aspects that you need to consider before the launch, during the launch, and after the launch of your online merchant account.
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Regardless of how high end or popular your products are, customers will also look forward to a seamless browsing experience when they visit your online store. A carefully thought design that is user-friendly would contribute to the whole shopping experience.
Product description, return and refund policy, shipping options and information, and means of getting in touch are critical details that should be accessible on your merchant website.
Customer service plays a major role in customer retention. Highly responsive customer support will determine the success of your brand. Not only that, excellent customer service will make your customers refer your brand to their family and friends.
When face with payment issues, struggling with the checkout process, or have queries that need immediate attention, customers should receive a prompt response. Also, customers should be presented with multiple avenues to communicate even after the purchase process.
Loyalty programs, coupons, discounts, freebies, and special deals will entice customers to keep coming back to your store. A reward or point system which can be used for future purchases will not only retain existing customers but also makes them feel appreciated.
Increase customer value and create brand advocates through customer loyalty programs which are cost-effective marketing strategies.
Your products or services are not the only things you need to start selling on your website. Commodities should also be paired with satisfactory overall experience to rise above the competition, acquire new customers, build loyalty towards your brand, and make a profit.
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