How to Avoid 4 Planning-Stage Mistakes that Can Kill Your Bottom Line

Aug 22, 2017

E-commerce boasts 23% year-over-year growth. According to eMarketer, the leading research firm for marketing in a digital world, online sales are projected to account for more than $4 trillion by 2020. Global online retail sales are estimated to make up 8.8% of total retail spending in 2018; this number was 7.4% in 2016.

With this in mind, it’s critical to find a reputable payment processing company like emerchantbroker.com to enjoy the best merchant services for small businesses. EMB is voted the #1 high risk processor in the US that boasts an A+ rating with the BBB. EMB is also a respectable business funding provider. eMerchantbroker.com is rated A by Card Payment Options and is one of Inc. 500’s Fastest Growing Companies of 2016.

If you want to make your own customer base continually grow and improve your bottom line, you should do your best to avoid the following 4 common mistakes in the early stages of your e-commerce business. So, what can you do?

  1. Create Content for the Right Audience

Today, there is no e-commerce without content marketing. All you need is to deliver the right message to the right audience so that your branded content can turn into your most valuable asset. Don’t fail to plan your messages in a proper way by including the main concerns and issues involved with your industry. You can use tools to track keywords across social media platforms and major news outlets, carry out thorough research to find hot topics and create content that addresses different levels of interest.

  1. Get a Good Sense of Your Customer Demand

E-commerce and big data go hand in hand. Today, it’s already possible to conduct predictive analytics so to get a better idea of your customer demand and don’t waste money on wrong inventory management. For this, you should use analytics tools that can help you predict future sales and inventory issues. Remember that each important decision must be based on proper data.

  1. Invest in Cyber Security

Cybersecurity is of utmost importance in the modern world of e-commerce. You should focus on providing the highest level of security for the customers of your e-commerce website. Your customers’ sensitive data must be secured, otherwise, your marketing and sales efforts will be in vain. Start with PCI Security Standards. The PCI Security Standards Council is an organization created by the major credit card companies, aimed at better protecting credit cardholder data. Also, make sure to keep up with the latest changes and requirements in the field. Finally, get your SSL (Secure Sockets Layer) certificate. SSL is basically a technology that encrypts and decrypt messages transmitted between a browser and server. This will make all the information sent to your site encrypted and secured.

  1. Focus on the Value of Customer Service

Never underestimate the value of customer service. Make sure to deliver fast, easy, and meaningful customer interactions so that not to lose your customers. The need for speed is everything these days.  Don’t forget about a live-chat feature on your platform.

To reach success in 2017 and in the years to come, you can’t just get it out there and see how it performs. The most successful retailers are strategic and targeted in their efforts, both in the offline and online worlds.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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