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How to Successfully Switch to an Automated Billing System

Category: Ecommerce

Automated-Billing-System
Mohab Ecommerce 0

An automated billing system is an extremely important part of a business’s ecosystem. This is an elaborate system which consists of several parts and complicated procedures. In order to run a business in a smooth manner, it is essential to have a robust yet flexible billing system. Paying attention to your billing system ensures that your business stays liquid and does not face unnecessary cash flow issues. Here are some of the tips which can help you streamline your billing system and make it a smooth process so as to ensure optimal liquidity for your business.

  1. Set goals and standards: Before you roll out a new system, it is important that you define your expected outcomes first. The key is to set up your terms and conditions in an appropriate manner. You should clearly spell out your billing duration, which is whether you charge on an hourly basis, daily basis or on a project basis. Further, it should also be clarified whether you accept lump sum payments or staggered payments. If there is any escalation clause for the extension of the project, then it should also be mentioned right in the beginning. You should also ensure that the billing system is designed in such a manner so that it is adaptable to changes in the variables.

 

  1. Make it a team effort: Deployment of a new automated billing system should be a team effort, as in, it should involve different departments of your business. Apparently, the billing system may seem to be the responsibility of the sales and accounts department, but it requires input from other departments too, to make the system all encompassing. Incorporating requirements from different departments will ensure that the system does not lack in any regard. Also, the clients will be able to use this system in a more comprehensive manner. You may also take recommendations from your clients so as to increase the utility of your system.

 

  1. Focus on key deliverables: While a system is required to work in the best possible manner on all fronts, it is important to identify some key variables. For some businesses, the speed of the system may be of paramount importance, while for others, the robustness of the system may be a key factor. Before you start to change your billing system, you should identify critical areas for your business and then work around them to ensure that your new system is able to meet your requirements. Focus on key deliverables to make your billing system more cost-efficient as well, so that you do not end up spending a fortune on the features which are not vital for your business.

 

  1. Pay attention to backup and storage: While setting up an automated billing system, it is important that you pay proper attention to offering backups. Automated systems, irrespective of their robustness, are prone to occasional infrastructural failures. In such cases, it is important to have a backup system so that the business is carried out smoothly, without any hiccup. Breakdowns may occur due to intrinsic or extrinsic reasons. However, in both the cases, the existence of backup ensures that the impact of such breakdown is minimized. Further, it should also be ensured that all the records are stored properly so that there is no loss of vital information.

 

  1. Test run and modify: Even the most elaborately planned automated billing systems may run into issues when deployed. Before you introduce your new system on a mass scale, it is important that you take it for a test run. A dry run is important to figure out if there are any loopholes or flaws in the system. Such shortcomings should be properly addressed before the system is formally deployed. You may also undertake beta testing of the system and invite some of the end users to try it. Their feedback may be used for incorporating changes and for fixing the flaws. You should undertake proper documentation at this stage so that all the loopholes are properly fixed.

An automated billing system can go a long way in making a business more efficient and productive. By following these simple guidelines, you can ensure that you have a robust billing system in place and the transition is handled in the smoothest possible manner.

4 years ago
PayTabs
Mohab Ecommerce 0

The-Psychology-of-an-Online-Shopper

In order to reap the full benefits of your online business venture, it is important to understand the psychology and the motivation behind the process of online shopping. Online shopping behaviorism is a relatively new yet a powerful concept. Understanding the psychology of your online customers is vital for boosting the traffic to your website and for controlling various metrics, such as the rate of cart abandonment and failed checkouts. There are several factors which drive a consumer to make purchasing decisions. While many of these factors are conscious, some of them may be unconscious as well. So, let’s take a look at how your business can benefit by understanding the psychology of an online shopper.

  • Create a sense of belongingness: Since online shopping lacks the tactile experience offered by offline shopping, it is imperative that you take extra steps to ensure that your customers are able to mimic their real-life shopping experience online as well. There are several initiatives you can take to ensure this kind of experience. If your catalog uses models, then ensure that you select your models in such a manner that your customers are able to relate to them. Some of the factors to keep in mind are age and gender. Make sure that your models are in line with the demographics of your target market.
  • Reciprocate the gesture: Online shopping is all about instant gratification. You can further boost this feeling by offering something in return to your customers. Apart from providing them with their desired goods and services, you can also offer discounts or free gifts on their purchase. With this strategy, you can provide value to your customers, which is over and above their requirements. This is also a foolproof method to encourage customer loyalty and ensure repeat business. You can also do so by making their shopping process easier and convenient. With the growing use of mobile phones, you should ensure that your website is optimized for smaller screens as well.
  • Spruce up your online store: Just like an offline store, the aesthetics of your online store may have a strong impact on your customers’ buying decisions. It is highly recommended that you choose an appropriate theme for your online store and then manage its overall presentation on the basis of that theme. The visual appearance of your online store is one of the most important factors that can impact the purchasing decision of your clients. You should pay special attention to the differentiating features of your target market and then design your store accordingly. Apart from the curation of items that are to be featured for shopping, the color schema of your store should also be pleasing.
  • Guide your clients: You can lead your clients to the right kind of products and services in your store by offering visual and psychological cues. You should make sure that your online store has a simple navigation process. It should also be intuitive in nature so that the entire journey feels natural to your clients. You can also integrate links and suggestions to direct your customers to certain sections and products. Online stores also follow quite a few guidelines which are applicable to offline stores. Like, you should place your high priced and high margin items in the line of sight of your clients so as to ensure that these items get the proper attention.
  • Be transparent: It is important that your customers are provided complete and accurate information. Such information is important for building trust. Unlike offline shopping, e-commerce lacks the personal touch and the ability to test goods beforehand. In such situations, it is vital that you provide extra incentive to your clients to ensure a sale. The importance of transparency cannot be overemphasized in such cases. All the expenses related to purchase, including taxes and shipping charges etc. should be explicitly stated, so as to minimize the chances of cart abandonment. Similarly, shoppers should also be made aware of the expected delivery time and possible issues.

The e-commerce has already gained widespread acceptance with the masses, and is growing at a fast pace. In order to fully optimize the benefits of this trend, you can keep these simple tips in mind and make your online business more user-friendly and efficient.

4 years ago
PayTabs
Mohab Ecommerce 0

How-to-Attract-Millennial-Shoppers-to-Your-Online-Store

Millennial customers have transformed the modern shopping scene in dramatic ways. This is the generation that has witnessed rapid technological development while growing up and is extremely comfortable using the latest digital innovations. So, to ensure that your online business thrives, it is important that you prepare your strategies keeping these millennial customers in mind.Why? Well, this generation shops for almost everything online, from clothes and books to movie tickets, insurance and even expensive jewelry. Now, if you are worried that this task might be easier said than done, the simple tricks mentioned here can help you out.By following these, you can reel in more millennial shoppers, build a solid customer base,and realize more profits in no time.

Personalize the Experience: Millennial shoppers believe in unique experiences and ultimate convenience. Therefore, it is important that your online store is able to provide them a unique ambiance. The overall user experience needs to be personalized in a holistic manner. In order to implement the process, you should define your target market first. Your website design, your curated items and customer accounts should be designed accordingly. You can further enhance the experience by displaying your client’s name when they login to your site. It is also recommended that you send the promotional mails directly addressing the clients by their names, thus making the experience more personal to them. The content and graphics in such mails should also be personalized as much as possible.

Use Multichannel Strategy: While millennial shoppers are super comfortable with technology, it is only natural that they will not stick to one particular channel. In order to capture their interest and keep them engaged, it is important that your online business adopts a multichannel strategy. In simple terms, multichannel strategy incorporates both marketplace and digital marketing strategies. You should also optimize your website for different screen sizes, ranging from tiny phones to big screen computers. As more and more people are moving towards mobile shopping, your website should be tweaked to suit handheld screens. Further, your website should be easy to load even on slower networks. You should also work on your supply chain and it should be properly integrated with your online and offline stores.

Invest in Social Media: Most online shoppers throng to social media platforms before making any purchase. They do it to gather more information, seek advice and to find a connection with the business in question. Therefore, it is important that you bolster your online media presence. It will help you build your brand value as well as engage your target market. Social media can also be used for addressing various issues faced by your clients and for disseminating important information. Today, there are several social media sites available such as Facebook, Snapchat, Twitter,etc. You should ensure that you have a comprehensive strategy regarding the use of social media, so that all these platforms provide a cohesive image of your business.

Enhance User Experience: Millennial customers put a premium on experience, and so, you need to ensure that your business is capable of providing a holistic ambiance to them. The strategy for ensuring customer satisfaction needs to be comprehensive so that various facets of the business are involved. It may start with your online store layout where the color scheme, placement of items and curation is done with the aim of enhancing user experience. Another important aspect of excellent user experience is the integration of different services. The payment system should be simple and secure while the cart checkout system needs to be intuitive. Overall, different systems running the business should work in tandem, to ensure that the customers get a seamless experience.

Be Dynamic: Millennial shoppers quickly adapt to changes and are highly dynamic. In order to keep them interested, it is important that your online business practices the same formula. For example, you can reset your product line frequently to offer new items to your clients. You may also seek to tweak your website design to keep it looking fresh and attractive. However, you should also ensure that such frequent changes do not change the basic structure of your business. Also, these changes need to be intuitive, to help customers navigate through them easily.

To conclude, the millennial generation can prove to be an excellent customer base, provided your business is able to adopt dynamic practices to suit their changing requirements. With the above guidelines though, you can make your online store more suitable for millennial shoppers without wasting much time.

4 years ago
PayTabs
Mohab Ecommerce 0

5 Ecommerce Trends That You Need to Know in 2020

Ecommerce has come a long way since its beginning in the late last century. In the present era, most of the offline businesses have their online iterations live. With new technologies coming up and more and more people adopting the latest trends, eCommerce is not only here to stay but is bound to grow by leaps. The segment also sees frequent changes and new trends. So, here are some new concepts making waves in the eCommerce sector that you need to know to remain updated:

  • Mobile Ecommerce is on the Rise: While eCommerce in general is on the rise, mobile eCommerce has outpaced the general trend. According to a number of studies done on this topic, the growth in revenue generated through sales made from mobile devices have increased 15 percent since 2016. It is also estimated that 73 percent of the entire eCommerce transactions will be carried out on mobile devices. This trend is mainly fueled by millenials and gen Z. In order to fully exploit the opportunities thrown open by this trend, it is important to ensure that your business is mobile friendly. You can either optimize your website for mobile browsing or can develop a standalone app for this purpose. Whichever way you choose, the proliferation of mobile eCommerce will help you expand your market.
  • Social Media to the Rescue: As more and more people alter their shopping habits for eCommerce, the role of social media is becoming vital. Social media is not only important for promoting products and services of your business but is also required for engaging your clients. Through optimal use of social media, a business can create a loyal customer base and maintain rapport with them. Further, you may also engage the services of social media influencers which may help you in getting your products discovered by hitherto untapped markets. Social media channels employ different formats ranging from simple texts to videos, thereby providing your business with a wide range of choices.
  • Artificial Intelligence & Customer Care: Another big trend in eCommerce is related to the incorporation of artificial intelligence or AI. While AI is being used to manage various aspects of online businesses, it is particularly useful for addressing customer grievances and maintaining client relations. AI assistance and chatbots have revolutionized the way online businesses interact with their client base. These bots may be used for attending to customer inquiries and for handling complaints. Further, there is also ample scope of customizing these services to meet individual requirements. Clients are also becoming accustomed to interacting with these AI-enabled customer care personnel.
  • Personalization: In order to survive intense competition and prosper, online businesses are now personalizing their offerings. With this approach, the customers are made to feel more connected to the business as the products and services are modified to meet their specific demands. Personalization helps in gaining new customers while also helping in retaining the older ones. The main aim of personalization is to increase the stickiness so that the client keeps coming back to the business in future. Apart from customizing the products and services, the online businesses also seek to personalize their marketing and advertising messages to gain maximum advantage.
  • Social Concerns to the Fore: Ecommerce is recognizing its social and environmental responsibilities as well. The rise of green consumerism is the main force behind this change. Online businesses are now working towards more sustainable practices and products. Some of the main steps in this direction are to source materials from ethically proven sources and cutting down on plastic packaging, etc. Additionally, eCommerce is also working towards offering more environment-friendly products. The emphasis is on ensuring that the products use minimal chemicals which may harm the environment. These green products generally command premium pricing. However, businesses are now looking for the ways these products and services may be made accessible to and affordable for the masses.

While the above-mentioned trends are quite prominent, the other developments in this segment are also noticeable. Ecommerce is now experiencing resurgence in QR code payment and the use of augmented reality. It is important for online businesses to be aware of these trends and adapt accordingly.

4 years ago
A Beginner’s Guide to Facebook Dynamic Ads for eCommerce
Mohab Ecommerce 0

A Beginner’s Guide to Facebook Dynamic Product Ads for eCommerce

Online advertising is a highly vibrant concept and is constantly undergoing drastic changes. It is highly challenging to draw customers’ attention and then to keep them engaged. Facebook dynamic ads are one of the most powerful marketing tools available today. Despite their unique features, these ads are not difficult to master. So here are some of the tips to get you started with Facebook dynamic ads.

What are Facebook Dynamic Product Ads?

Facebook is constantly innovating when it comes to product ads on its pages. The social media site has a well diversified product portfolio which contains different types of ad formats to suit different requirements. Its latest offering is dynamic product ads which are highly amenable to personalization, making them more effective. As per the definition given by Facebook itself, dynamic ads eliminate the need to create individual ads for different products. Instead, you are just required to provide a template and the data and images from your feed are automatically incorporated.

How to Set it Up?

Dynamic ads are highly impressive but fortunately, the task of setting them up is not that daunting. With a couple of directives, you can easily install your own dynamic ad mechanism. However, before you embark upon this journey, you need to make sure you have your basics down i.e. you already have a Facebook Page, a Facebook ad account and a Business Manager account.

Install Facebook Pixel: Before getting started with dynamic ads, you have to make sure that you have properly installed Facebook Pixel, which is a small code which is required to be embedded in the website. Alternatively, you can opt for installing Facebook SDK, which is highly useful for tracking the performance of the ads and providing analytics. However, if you are using any compatible eCommerce platform such as BigCommerce or Shopify, then you are not required to alter your code for creating Facebook Pixel. Instead, you can simply use a third party module to install Pixel.

Designing Product Catalog: For running dynamic Facebook ads, you are required to prepare a detailed product portfolio. This portfolio should contain vital information such as item description, pricing and pictures. A well-designed catalog is highly important as it acts as a repository of the product information. Your data feed should contain all the information which you want to be included in the ads. You can also create multiple data feeds.

Create Product Sets: For making dynamic ads more productive, you can go for creating product sets. This exercise is useful ensuring that your dynamic ads are more targeted and result in better cross sells and up sells. You can use different criterions such as availability, category, brand or product type. The ideal way is to create sets with broad themes as very narrowly defined parameters may lead to sparse products in each category. Facebook dynamic ads allow up to 5 custom columns for adding more data.

Define Target Market: Now is the time to identify the market segments you are looking to capture with your dynamic ads. The retargeting option allows you to focus on a range of visitors such as people who added items to cart but did not actually purchase them. You can also cater to specific customers to up sell or cross sell your products. Another interesting option is to go for custom combination where you can create your own filters to better meet your business’s requirements. You can also choose to broaden your horizons and go for broad audience targeting by opening up your products to newer market segments.

Create an Ad Template: Now comes the final stage of creating the ad template. For this purpose, you need to head to the Ads Manager option and click on Create and choose Catalog Sales. The process designed by Facebook for creating an ad template is highly intuitive. You can use your product catalog for populating various fields. There is also the provision of using dynamic placeholders to let you control the content.

Once your dynamic ad is live, it is important to keep track of its performance. You can accordingly change various parameters of ads to make them more suitable for your business and business objectives.

4 years ago