The Truth about What You Should Know Before Starting an E-Commerce Business

Barbara Spagnola - Monday, April 10, 2017

You may think that you are fully prepared to open and operate an online business. The funding is already in place, you have created a plan for cash flow, and you have your inventory stocked and ready to ship out to your customers. However, there are a few other factors that you will want to consider before launching your first marketing campaign.

E-commerce sales in the United States grew by over 10 percent last year to over $103 billion, and this includes travel. In fact, in the first quarter of 2016, online spending in the United States had already reached $93 billion. Statistics like these prove why e-commerce is the fastest growing segment in retail.

Although most of this growth is coming from retail giants like Walmart and Amazon, there are smaller retailers using platforms like Etsy and Shopify that are also making an impact on e-commerce growth. Most entrepreneurs of these e-commerce businesses are enjoying life-changing profitability and success.

Seasoned entrepreneurs will likely tell you that you need to have a handle on things like accounting, marketing, and operations. However, they may fail to tell you about the surprises you may face in other aspects of your business.

Be Very Detailed Because People Do Not Read

One of the things that may surprise you the most when you are operating your business is how explicit you must be when describing policies, products, or offers. Most of your customers will quickly skim this information; that’s if they even read it at all. If they do read it, they may still misunderstand certain statements.

Your Customers May Be Right but They Will Not Always Be Nice About It

When you operate an online store, you are running a service business. The main objective of your business should be to assist your customers in finding the products and services they are looking for, and ensuring those products and services are delivered to them quickly. There are plenty of new businesses in the e-commerce arena that are going above and beyond what many consumers have come to expect with customer service.

With that being said, there will be many times when you will go above and beyond ‘normal’ customer service to offer consumers the ultimate online shopping experience and they will still be mean to you, make false claims about your store, or even file claims and disputes against your company when you have not done anything wrong. Learn more about financial disputes at this website.

Packages Will Disappear in Transit

The United States Postal Service, UPS, and FedEx generally provide excellent shipping services. Unfortunately, these carriers are also known to not only lose packages but lose them during the most critical times.

Many retailers notice an increase of reports of packages never arriving around the holiday season. In fact, every year new and established e-commerce companies will get reports that dozens or even hundreds of packages never arrive at their destinations. Therefore, you should be prepared to not only deal with disappointed and frustrated customers but also be willing to bear the cost of these lost packages.

You will never be too far away from your next opportunity when owning an e-commerce business. Although you will have a fair share of problems, the potential is there for you to reach your goals.

What Is the Best Degree for Multinational Marketing in eCommerce?

Barbara Spagnola - Thursday, January 19, 2017

When you are marketing across borders there is a lot more to account for than whether or not there is a market for what you have to sell. While there are some products that just don’t do well culturally in another nation, this may not be your biggest concern. Even products that you know they want, have a use for, and would gladly buy can be hard to sell if your marketing strategies aren’t in keeping with their culture.

A degree in marketing would go a long way, but even that isn’t your best approach. Have you considered earning an online MBA degree while working as a marketing specialist? However, you need the right online MBA program from a university that has a strong emphasis on international policies and diplomatic relations. Here’s why this particular advanced degree would prepare you for multinational marketing and commerce.

A Look at the Type of Online Business Administration Degree You Need

The reason why a multinational approach to an MBA would be in your best interest when marketing to an international audience, is because different cultures have acceptable social norms they observe. For example, when marketing to most Islamic countries and those in the Middle East, using a picture of a model in a skimpy bikini would be a mistake.

That would be totally unacceptable in their culture and would probably do more to hurt your client’s image than any good it would do to sell sunscreen, for example. While you ‘might’ be able to pick up these kinds of best practices for foreign nations in a marketing class, they are more in keeping with a masters in business administration degree with a strong focus on international relations and diplomatic communications.

Finding the Right MBA for Your Purposes

While all MBA programs from top universities have a core foundation of business and finance classes, some basic law, and legal principles, not all universities pride themselves on fostering international dialogue. A school like Norwich University with a common thread throughout all of their advanced degrees, and that seeks to communicate well with other professionals on a global stage, is what you really should be looking for when pursuing an advanced degree in business administration.

Most MBA programs have a strong emphasis on finance and on business practices, but not all MBA programs are well suited to take your degree global. If you were to do a bit of research first by browsing textbooks and a class synopsis prior to enrolling, chances are you’d find a lot of legal issues and business practices pertinent to the United States and perhaps a smattering of information ‘in case’ you had dealings overseas, but few universities have caught up to the times.

A Few Closing Thoughts

We are living in a global community so cross-border commerce and marketing is a must. If you are a marketing professional who deals with multinational corporations, it would behove you to pursue an advanced degree in business administration with a focus on international commerce. To market effectively, you must stay within the confines of the law and best practices for that country, so get the right degree for the job.