7 Threats Your E-Commerce Business Might Face

As more and more businesses tend to shift online these days, people are met with unprecedented risk factors. These risks are undeniable, and finding their solutions is of utmost importance, since they prevent consolidation of the firm. Following are seven of such risks, with their potential solutions:

1. E-Commerce Online Security
The number of Internet users is globally increasing. With this, the chances of hacking and data phishing are also rising. To protect your business, using stronger passwords and employing multi-layered security system on websites are wise options.

2. E-Commerce Intellectual Property
Intellectual property is the one which is copy-righted, and always met with the dangers of theft. Legally auditing and patenting your content and sites can reduce the risks.

3. Customer Disputes
Dissatisfied customers often fall out from companies, causing major economic setbacks. However, their issues are normally trivial and can be solved with just a little effort. The most common complaints revolve around product and payments. Make sure that your company does not charge people until shipments have been made. A clear refund policy also helps.

4. Product Warehousing and Logistics
It has been found that a huge percentage of online shoppers find guaranteed delivery dates important. Therefore, ensuring that your company does not run out of products by proper stock management would help a lot. Plus, professional delivery services would allow products to be dropped correctly, and on time.

5. Customer Service
Appeasing customers should be a business’ top-most priority. Personalization, chat bots and quick response mechanisms promise better customer experience and increase loyalty.

6. E-Commerce Taxation
It refers to sales tax associated with an online sale. According to Nexus, the “state cannot obtain tax jurisdiction over a retail until there’s a physical connection between the two”. For this, making a physical location your office might be a good idea.

7. E-Commerce Website SEO and Marketing
Algorithm updates risk insufficient traffic on a website. To prevent that, developing and practicing a well-planned marketing strategy, using keywords for homepages, and using social media for marketing can be done.

Source: Shopygen.
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