Transcript
Friday, January 25, 13
Agenda
1 . . . . . . . . . . . What is E-Commerce?2 . . . . . . . . . . . 3 Key Elements3 . . . . . . . . . . . Open Source Options4 . . . . . . . . . . . Costs & Pricing Models5 . . . . . . . . . . . Driving traffic to your store6 . . . . . . . . . . . Measuring performance
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What is E-Commerce?Electronic commerce, commonly know as e-commerce, is the buying and selling of a product or service over electronic systems such as the Internet and other computer networks.
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3 Key Elements
1. Merchant Account
A special type of bank account that enables a business to accept credit and debit card payments (Visa, Mastercard, American Express, Discover, etc.) These accounts may be provided directly by a merchant acquiring bank, or by an aggregator such as Paypal.
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3 Key Elements 2. Payment Gateway
The Internet equivalent of a Point of Sale (POS) or credit card terminal. The interface for getting an approval or rejection of a transaction by a “payment processor” and merchant account.
PayPal offers both a Merchant Account and Payment Gateway packaged as one product/service.
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3 Key Elements 3. Shopping Cart
Picture a store front on the web, including window shopping, carts or baskets, aisles of products, and cash registers. A “shopping cart” refers to the piece of web based software that manages all the products in your store and helps your process and keep track of orders.
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Open Source Options
Language: PHP / MySQLDev Level: BasicCost/Fees: Free
Offers an ‘out of the box’ solution with install and setup with minimal manual intervention and configuration. Provided by default, is everything you would expect with core e-commerce functionality.
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Open Source Options
Language: PHP / MySQLDev Level: BasicCost/Fees: Free, with premium upgrades
Most popular e-commerce plugin for WordPress CMS, 100% customizable, streamlined checkout, integrates with Google Checkout and Paypal, with built in shipping calculators.
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Open Source Options
Language: PHP / MySQLDev Level: AdvancedCost/Fees: Free
Integrates with Drupal’s CMS or as a standalone site. An excellent range of features are provided with the default core, everything that you would expect to get up and running straight away.
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Open Source Options
Language: PHP / MySQLDev Level: AdvancedCost/Fees: Free
Customizable, PCI-DSS compliant, e-commerce solution that will handle everything from Web store set-up to managing customers and orders.
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Open Source Options
Language: PHP / MySQLDev Level: AdvancedCost/Fees: Both free and paid plans available
Enterprise level solution that requires an experienced developer or someone familiar with the structure and functionality of the complex set-up.
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Costs & Pricing ModelsDiscount/Interchange Rate: % of the transaction amount (1-6%)
Per Transaction fee: between $0.05 and $0.45 per transaction is split between gateway and merchant account
Monthly fees: Can be charged on gateways, merchant accounts, etc. and usually depend upon the integration method used.
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Costs & Pricing ModelsChargeback fee: if a customer disputes a charge with his/her credit card company, you are immediately charged a fee ($20+)
Application fee: for setup; usually charged for a merchant account and can range from $49-$300, if charged at all
** Paypal, Google Checkout, 2Checkout use flat rate structures that make these fees more predictable.
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Driving Traffic to Your StoreAffiliate Programs: pay a % of sales generated to advertising/marketing partners
Advertising: Cost-per-click
Word of Mouth: social media and other refer a friend techniques
Email Campaigns: online equivalent of direct mailers, coupons in the newspaper, and etc.
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Measuring PerformanceHow will you know when your website is successful? The same way you know your business is successful. Set goals and measure your results.
Without measurement, it’s easy to spend money on your website, social media, online advertising, etc. without knowing what is truly driving buying decisions.
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What do I measure?KPI’s (Key Performance Measurements):
- What search engines, referrers, email campaigns, and other marketing materials are generating sales?- How long does a customer spend on your site?- How many visits does it take before a customer makes a purchase?- How much revenue is generated by each of my initiates?
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Sarah DavisDigital Strategist@SDavis_
How do I measure? Google Analytics!A service offered by Google that generates detailed statistics about the visits to a website. The product is aimed at marketers, as opposed to webmasters from which the industry of web analytics originally grew. It is the most widely used website statistics service.
Tracks visitors from all referrers, including organic search engines, display advertising, pay-per-click networks, e-mail marketing, and digital collateral (such as links within PDF documents).
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Sarah DavisDigital Strategist@SDavis_
Real-Time Data
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Sarah DavisDigital Strategist@SDavis_
Other Worthwhile Data...
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Sarah DavisDigital Strategist@SDavis_
Key Takeaways
1 Educate yourself on the different merchant accounts and payment gateways
2 Choose an E-Commerce platform that fits your business needs
3 Know the fees associated with accepting payment
4 Track ALL your marketing activities & analyze the traffic visiting your website
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More Questions? Get in touch!
Sarah Davis(p) 614.289.7900(e) sarah@buckeyeinteractive.com(t) @SDavis_
Thank You!
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