9 Things to Look for in a Trading Platform – 2020 Guide

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If you consider that it is time for your business to join the world of online sales through the integration of an e-commerce platform, you should know that you have made a good and important decision. E-commerce is a section that has had significant growth in recent years and everything seems to indicate that it will continue like this.

However, reaching the world of electronic commerce and obtaining results may not be so simple, there are multiple sections to consider, such as choosing the right trading platform. Therefore, emphasizing this point, today we share the elements that a brand should look for in an trading platform.

What to look for?

Price

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Many of the platforms have monthly plans and commission per transaction to be covered, these elements are the 2 main expenses associated with any trading platform that exists today. Still, there are some that do not incur usage charges but if they do for accepting credit card transactions, this commission is generally a small percentage of each online purchase.

It considers that the higher the monthly payment to be covered, the better the characteristics of the e-commerce platform to which the business will have access. In this case it is important not to skimp on costs when it comes to selecting one, if things are managed correctly, it can pay for itself.

Stock size

In order to make a good decision regarding which one to choose, it is also important to consider how many products you will sell. Some platforms adjust their prices based on the size of the brand’s catalog. There are ones that can provide you with the free e-commerce service up to a certain limit of products, however, when this being exceeds it is necessary to pay a monthly fee to have access to the sale of more products.

Keep in mind that the best trading platforms are those that allow the business to sell a limited number of products.

Type of product

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Choosing a good trading platform also depends on the type of what you plan to sell. Is it a product or a service? In the case of products, you must also consider whether they are physical or digital, their dimensions, whether this will be sold outside the country, among other things. These are important approaches that influence the selection of the it since they have to do with the shipping costs that must be covered. Although not all trading platforms offer shipping, it is important to consider the expenses of this element as part of the budget generated by online retail.

Integrations

One of the great advantages of electronic commerce is the ability to integrate with a variety of platforms, for example, today it is possible to connect the online store with Instagram, a social network.

This type of functionality can standardize a series of tasks related to managing the online store. Some of the most common integrations of e-commerce platforms are marketplaces, such as Amazon or Mercado Libre, payment methods, social networks, content management, point of sale systems and newsletter services for the e-mail. There are also platforms, such as naga.com, that allow you to connect with other traders.

Consider that if you require such integrations there may be an additional cost for it.

Design

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Most trading platforms have a variety of templates to work with depending on the needs of the online store, some can be free and others can be paid, in this way the brand can customize the appearance of its business in the digital world. Some even allow you to edit the source code to customize everything to a higher level that provides the look & feel of the company. Consideration of design is of great importance, as consumers may interact more with a site that they find visually appealing. If from an aesthetic perspective your online store is not pleasant, consumers may not pay attention to it or to the products.

Hosting

An e-commerce site can “host” itself or be hosted by the platform itself. In case it is a “self-hosted” space, it will be necessary for the firm to take on the task of finding a good deal and installing and managing the e-commerce software by itself. The advantage of this is that the business has more control over their online store, however, it also implies that they will have to dedicate time to management.

On the other hand, you should know that e-commerce platforms offer hosting via external providers, such as Amazon Web Services. These types of services are also known as “Cloud-hosting” and are offered by a large majority of trading platforms.

Security

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Not surprisingly, trading sites are highly attractive to cyber criminals. Therefore, brands must seek security when choosing one with which they will work. Currently 32 percent of cyber attacks are directed at online businesses and therefore this aspect should be considered a priority. If a consumer becomes a victim of fraud while corroding on your site, it is a fact that they will never return.

Fortunately, currently most trading platforms provide very robust security measures, however, do not forget that you should look for those that have multi-layer security, SSL certificate.

Customer service

Due to the physical limitations that electronic commerce implies, it is possible that consumers may have multiple questions regarding products, therefore, it is ideal to find an trading platform that can also help manage customer service actions from multiple channels, whether by phone, text message or live chat.

Optimization

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And if you want to succeed with it, it is of great importance that it is optimized to work from all kinds of devices.

Conclusion

The work around running an online store is certainly very extensive and demanding. From payments and withdrawals, through customer relationships, and all the other entanglements that exist. That is why it is very important that when you choose, you choose the one that will make all the tasks easier for you. But don’t foget, the best one does not exist, at least not the best one for all cases. You just have to find perfect one for your needs.

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