Chances are, you’ve found this article because you want some insight into the things small online retailers need to consider when setting up shop. So with that in mind, let’s jump straight in…
Things Small Online Retailers Need To Consider
When it comes to setting up an online retail business, there are loads of things to think about. Firstly, there are the obvious things like stock, security and delivery of goods. Additionally, there’s the more specific things small online retailers need to think about. This may include packaging, correspondence, business premises and data protection.
Something else which needs to be thought about is customer targeting and customer retention. This is where master data comes into play. Read on to find out how using master data services could help your business.
What is Master Data?
Have you ever wondered how, when you do your online supermarket shopping, they remember what you’ve viewed and ordered before? That information is master data. Essentially, it’s historical data which helps retailers know what each individual customer is likely to want to buy.
When you’ve browsed a website, and added a dress to your basket but not bought it… That’s a pending transaction, so not yet historical data. Historical data will never change. It’s stuff customers have bought, or songs they’ve streamed, etc. Even if a product is returned, the transaction still happened, and this master data (MD) needs to be looked after. This is where MD Services come in…
What Are MD Services?
Master data services provide businesses with several important tools which help to retain customers, amongst other things. It logs transactions, improves security and validates data amongst other things. If you’re not 100% confident in making sure your online store, customer (and business) data is secure, it’s worth considering using a master data service.
Other Things Small Online Retailers Need To Consider
There are many individual things small online businesses need to consider. One thing which is critical to the image you present is the design and layout of your website. If you choose to use a 3rd party service like etsy or Shopify, you won’t be able to customise things as much as if you build your own website.
Website Design and SEO
If you are selling clothes, for example, you need to make sure your website loads images quickly, and that your layout shows images in the right size and format. For example, if you use WordPress to design your website, and the theme shows all images in portrait mode, all of your stock images will need to be shot the same, or they’ll look awful.
Additionally, if you are selling a service, your website needs to look professional and be search engine optimised. (SEO). If you’re not familiar with SEO, it’s worth considering getting some outside help. A website which is search engine optimised will rank better on google (and other search engines) than one which is not.
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