When running an online shipping business, there is a lot of profit to be made when doing everything correctly. Nonetheless, there are a whole host of mistakes that businesses can make when trying to shift stock online. This guide has five key mistakes that businesses should try and avoid if they want to be a success. Read on now to learn all about it.
Relying Too Much on AVS Mismatches
An AVS mismatch can occur when somebody goes to purchase something but the billing address does not match that on the account. This can happen rather often for completely legitimate reasons, especially when people put in their current address which can be different to that of their actual bank. While this is a common method used in order to verify purchases, it can mean killing an otherwise perfectly good sale. A better scheme is relying on 3D secure verification, which better allows people to verify their transactions with far less opportunity for the purchase to fail.
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Having Too Much in Stock
When operating an online shipping business, it makes sense to operate on a just-in-time principle. This means being able to have just enough in stock in order to meet deliveries. If you have too much in stock and it turns out that nobody actually wants to buy the objects you have in storage, this can take up valuable space and end up costing you money.
Not Offering Express Delivery
In today’s modern world, especially with Amazon offering a lightning-quick Prime service, people want to order something and have it arrive on their doorstep the next day. By not offering a next-day delivery service, at least within the country that you ship from, you could lose customers who urgently need that which you offer. While it might cost you more logistical costs, it will make you far more money in the long run and prevent people from using your competitors.
Not Making Full Use of Automation Software
Automation software can help to streamline so many processes in the online delivery business that you are simply losing out by not making full use of what it has to offer. Whether it is customizing invoices, retyping addresses or creating automatic packaging slips, automation can save you so much time, allowing you to ship more quickly and saving you a whole heap of money in the long run.
Not Being Transparent About Costs
When people make a purchase online, it is really important for you to be transparent as to how much money they will be spending on a particular product. This also includes aspects such as credit card or debit fees, currency conversion rates and shipping fees. By being upfront about those costs when people move to make a purchase, you are more like to retain customers as they know exactly how much they will be spending when they make a purchase with you. If you do not do this, it is likely to lose your customers and you can easily earn a bad reputation as a company that is not honest about how much they charge.