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5-Step Guide to Growing Your Retail E-Commerce Business

1) Diversify Your Payment Options

A range of payment options is ideal in any scenario in order to maximize ease and usability for all possible customer scenarios. Make sure at the very least you have a credit card gateway such as Authorize.net and another external payment option like PayPal. As the landscape changes, access to additional ‘Buy Now, Pay Later’ credit card systems are starting to dominate. Companies such as Afterpay and Klarna are offering custom deals to worthy e-commerce sites for their cut of the pie. Also to note, it wouldn’t be surprising to see companies such as Venmo or CashApp holding their own against PayPal with newly available APIs. If this becomes too overwhelming, or you don’t have access to development. Consider moving to platforms such as Stripe or Bolt Checkout to easily connect your accounts to process these payments.

2) Consider Sourcing Fulfillment From Different Channels

Sourcing has never been more important. With everyone having access to dropship feeds and packaged e-commerce businesses. A competitive edge is becoming harder and harder to keep. Consider selling only part of your product selection in order to add margins to the items that sell. Then consider the dropshipping feeds. These options are already available to everyone so don’t think this is your golden ticket. Finally, if all else fails, AliBaba has a plethora of options at rock bottom prices. Unfortunately, things aren’t what they seem. Minimums and long delivery times may create irate customers. Made-to-order items have started to take their own stronghold as items have no real competition and the price is unique to what it is.

3) Make Sure Site Is Responsive

Being responsive has so many implications for the success of your site. Sure you can easily make it mobile-friendly but there are new devices, screen sizes, and displays coming out every day. The only surefire way to make sure your site works all the time is to confirm it’s responsive. Responsive websites are usually built on a crowd-sourced framework that will be guaranteed to work.

4) Consider Different Advertising Channels

A strong marketing strategy may be the most difficult and subjective idea on this whole list. There is no 1-step plan to get to a place that you need to. A common practice is to not solely depend on one channel. Sometimes Google might be working and Facebook might not. There are ebbs-and-flows to all things, this included. Email Marketing is a key low-cost resource you can continue to use to drum up business, or at the very least, keep users on alert. If you have the development resources, consider text messaging and alerting but it can create an annoyance if abused.

5) Optimize All Processes

On a macro level, all companies have processes that come about through growth. It’s a good practice to revisit every process to make sure it hasn’t come to hinder the operation. Look at every employee’s touch-point and try to reduce where you can. As the business grows, you may not be able to handle as much staff interaction as you did. Reduce and uniformize everything. There is a good chance, the problem you experience has been experienced by other companies. Someone somewhere made a service to fix this. Keeping everything uniformized allows you to easily adapt to any new system.

I hope this article helped. Consider Garde Dev as your development resource for all e-commerce and retail needs.

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