June 23, 2017
Written by
James Davis
Written by James Davis
Senior Technical Writer at United Thinkers

Author of the Paylosophy blog, a veteran writer, and a stock analyst with extensive knowledge and experience in the financial services industry that allows me to cover the latest payment industry news, developments, and insights. Read more

Reviewed by
Kathrine Pensatori
Product Specialist at United Thinkers

Product specialist with more than 10 years of experience in the Payment Processing Industry. I help payment facilitators and PSPs solve their various payment processing issues. Read more

Key Factors To Consider When Creating An E-Commerce Marketplace

There’s more to starting an online business or taking a business into the digital marketplace than throwing up a website. A successful e-commerce marketplace sells compelling products and responds quickly to every customer service concern or inquiry.

People are willing to buy just about anything from an e-commerce website these days – if it seems legitimate, safe and well-made. Does the e-commerce store you’re setting up look good, work well and meet consumer needs?

Ways to launch a successful e-commerce marketplace

Here are some factors to consider when designing an e-commerce marketplace for B2B e-commerce or direct-to-consumer sales:

  • Price right. An e-commerce website will never be successful if its creators don’t consider pricing carefully. Consumers are likely to comparison shop, and your store needs to offer the best prices. When designing your site, build in strategies and tools to help you keep prices competitive. In some industries, daily adjustments are necessary.
  • Choose offerings well. Make sure your products and services are of the highest quality possible for the price point if you want to have strong sales. Customers are smarter than ever and compare features.
  • Secure your transactions. Customers are likely to check security details on your site. So make sure you have mandatory SSL certifications in place and comply with all laws and industry best practices. Design good security into your e-commerce platforms from the start.
  • Make the rules clear. Be sure it’s easy for customers of your e-commerce website to understand shipping, promotional terms and conditions. Make all charges and fees transparent so there’s no confusion.
  • Offer great customer service. Arrange for instant customer service by phone, email, text or chat box whenever possible. Answer questions and address concerns when potential customers are ready to buy.
  • Show reviews. Let consumers offer product and service reviews on your e-commerce platform, then show these reviews to your new and returning customers. It will help them make smart choices, and this can reduce returns and refunds.
  • Think mobile-first. Most customers will shop at your e-commerce store with a mobile device. So design an e-commerce marketplace that performs well on mobile and will also meet the needs of desktop and laptop users. When you choose to go mobile-first, you’re choosing the future rather than the past.

Ecommerce platforms can provide a great return on investment if they are well-made, well-run and secure. If you’re looking for the right payment component for your e-commerce website, talk with us. UniPay is a payment platform available in a variety of ways to meet the needs of many kinds of businesses.

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