It is Time For an ECommerce Merchant Account

When it comes to business, you have to know just what is the current trend. You have to find out what other businesses in your niche are doing. You also have to see and understand how people in your market are spending. That way, you will be able to find a good strategy to get a good amount of sales. You definitely want that. After all, you did not put up your business so you would just keep on spending on something that does not mean any kind of revenue for you.

One of the most common trends at present is going for ecommerce. Ecommerce may be a new term for you but it simply is the shorter term for ‘electric commerce’. In other words, it means advertising yourself and your business and selling what you have to offer online. Transactions are done through the internet and so it is oftentimes not even needed for you to set up your own office.

Many people have gone to ecommerce not just because it is more convenient on their end. It is also because a lot of consumers are purchasing online with more and more getting easy (and even unlimited) access to the internet. With that, you definitely would want to get a portion of that market. Over setting up a store in your area, going ecommerce definitely allows you to reach a larger range of consumers.

When you are into ecommerce, it is also essential that you have an ecommerce merchant account. This is because having a business online means having your customers pay you through credit card transactions most of the time. It would be a hassle for them to find a wire transfer service just to pay you. With that, you should have an online shop that is not only easy to use but is also secure and has the ability to process credit card transactions. And that is where the ecommerce merchant account comes in.

With that, you should be able to understand the importance of finding the right kind of ecommerce merchant account to get. Though there are plenty of those available, what is important is that you are able to trust the company that you will be working with and they would be able to give you what you need. Consumers would most likely go to your online shop if they know that their transactions are secure and that they are getting the best products and service from you.

Web 2.0 in eCommerce

There has never been a better time to start an online business! According to Jupiter Research, a market research firm, online retail spending in the United States will increase to a whopping $95 billion in 2006. In Europe things are getting even better! In next five years the number of online shoppers will increase 75 percent and per person average spending will increase 50 percent. This will push European eCommerce to $335 billion by 2011.

If you are planning to start a new online business or upgrade your existing eCommerce site, you should consider using some of the innovative ideas related to Web 2.0 concept. Three years ago if you would have searched the phrase “Web 2.0”, you probably would not have found any mention of this term on the Internet. Now, at the last count, Google showed close to 60 million results relevant to this search. Amazing! First time this term was coined by O’Reilly Media to vaguely define a concept of second generation websites which were emerging after the dot com crush. Since their first use of this phrase to promote conferences organized by O’Reilly Media and MediaLive International, the idea of Web 2.0 has become immensely popular in web development sector.

So, what is this Web 2.0 concept any way? There is no exact definition of Web 2.0 available today. If you run a search for a definition of this phrase the only quotation you will receive is from Wikipedia, which says, “Web 2.0 is a term often applied to a perceived ongoing transition of the World Wide Web from a collection of websites to a full-fledged computing platform serving web applications to end users. Ultimately Web 2.0 services are expected to replace desktop computing applications for many purposes.” Tell me if I am wrong, this definition does not give a slightest clue about what really is Web 2.0.

Tim O’Reilly himself explained the Web 2.0 phenomena in five pages of examples, abstract terminologies, sketches and jargon in a great article. Unfortunately, if you are not a very Internet-savvy person, you will have hard time understanding the concept clearly from this article. To make things worse if you read other articles on this subject you will be even more confused! The reason is simple! Being a new concept many ideas related to Web 2.0 are abstract and still forming. However, there are some fundamental principles and indicators of Web 2.0 ideology which are true for any Web 2.0 based sites even if it is an eCommerce one.

The problem with eCommerce is, although in last five years many changes, some are drastic, have taken place in philosophy, ideology and technology related to the Web, very few things have changed in eCommerce sites. Now, it all started to change! Even successful eCommerce sites are experimenting with new ideas born from Web 2.0 concept. The result is visible! A recent survey shows adoption of new interactive functionalities, innovative product catalog and better communication with users have increased online sales for 83 percent of respondents.

Earlier online merchants were not very keen to have customer interaction elements like product review and rating, online surveys, customer blogs, etc. fearing flames from unsatisfied customers. But a recent poll shows that this fear is unfounded. It seems that 9 percent shoppers polled wrote a product review on a store site about a product they liked against 4 percent who posted a review about a product they did not like. Same goes for surveys! There are 2.5 percent more chances that a satisfied customer will participate in a survey than an unsatisfied one.

Many eCommerce sites lose a large number of their prospective customers due to inadequate product information required to take an affirmative buying decision. Customer reviews and ratings can help merchants in this. More over a positive review works like a call for action for the people reading it.

Most professional classification systems used in eBusiness are pretty complicated for daily use. A good way to give users a better method of finding product is to incorporate user added keywords or “tags”. If a user likes a product and may buy it now, or may keep a reference of it for future use, she can add one or several informal keywords as tags and save. These tags are visible to others and can be displayed two ways: in tag clouds, where the most popular tags have bigger fonts and most recent tags, a list of newly added tags. The popularity of tags in numerous Web 2.0 sites proves viability of this device in eCommerce sites as well.

Elements like ability to do side-by-side comparison of several products, ability to customize products according to buyer’s need, and the ability to filter and search products without constant page reloading can increase conversion rate dramatically.

Many eCommerce sites have the functionality of sending email notification of new listings of products that a user is looking for. A good idea is to add RSS notification ability to enhance product information request service also.

A staggering 60 percent of online shoppers abandon their carts at some point in the buying process. The following site functionalities will help businesses to retain these shoppers:

o Shoppers should have the ability to see thumbnail pictures of the products inside the shopping cart.

o Editing and adding products to the shopping cart should be done automatically without reloading.

o Shoppers should be able to save shopping cart anytime and it should be saved automatically if connection fails.

o Shoppers should be able to drag and drop products to the cart and all calculation should be done automatically.

Many of the functionalities mentioned in this article were available long before Web 2.0 concept emerged and these are only a minuscule number of examples of abilities you can actually add to your Web 2.0 based eCommerce site, however, if you fail to notice the progress and take necessary actions, you maybe losing a great opportunity. Transformation in eCommerce sites is slow, but one thing is for sure, in coming years these sites will be noticeably different from what we have now.

Do You Want Your Site to Be One of the Best Ecommerce Websites on the Net?

Ecommerce or electronic commerce is a sector which has gained tremendous popularity and is being used by a majority of people for some time now. Many ecommerce websites have come up lately on the internet. These sites have definitely made the process of buying and selling an easy and fun filled experience for people. Such websites are used for buying and selling of products or services with the help of the internet. There are numerous sites available on the internet and it is up to you to choose some of the best ecommerce websites if you need to purchase any product or service.

On the other hand if you wish to start your own ecommerce website, you can very well start one provided you make it look appealing for people who come online to visit your website. As we all know, the first impression is the best impression. This statement is true for starting and running an ecommerce websites. If you design your website in a proper and attractive way, then you will definitely get a good amount of online traffic visiting your ecommerce site for sure. This can in turn make your site, one of the best ecommerce websites on the internet.

There are many factors that play a vital role for the success of any website. If your website is user friendly, then automatically more and more people will start visiting your website and will soon be participating in the money transaction process through the buying and selling of products. This will ultimately raise the popularity of your site and yours will soon become one of the best ecommerce websites out there.

The other thing is that your site must be search engine friendly. If search engine friendliness is reached, quality customers will start visiting your website. This is actually very important.

Another important and easy way to find success through an ecommerce website is by staying in touch with the customers. Many sites have an e mail list of customers and are regularly in touch with them and therefore these sites have become the best ecommerce websites on the internet.

One more important tip for making your site user friendly is by making the buy button look prevalent. Not only this, but you can also use Alt tags in your images. This will make the buyers who use your site happy and will in turn increase the online traffic for your website.

By having in mind all the above tips, you can take your ecommerce website to great heights.