A professionally developed e-commerce site can provide a lucrative revenue stream but the development of a successful e-commerce site can also have substantial maintenance costs.
Hidden costs of e-commerce sites
Some of the hidden costs of developing and maintaining an e-commerce site include:
- License requirements. Many organizations are unaware of the license requirements necessary to maintain an e-commerce website. International and multichannel expansion
requires the purchase of additional licenses if a company is not covered by their on-premise e-commerce solution.
- Security maintenance. Developing an e-commerce site can be a successful way of reaching a high volume of online consumers, but with the development of any online property there is also the threat of a security breach. An advanced security system is of particular importance with e-commerce stores as they manage financial transactions. A robust security system that can keep up-to-date with all threats to e-commerce stores can add substantial costs to maintenance of an e-commerce site.
- Data Liability. All e-commerce sites will collect and store customer data. The FTC requires all e-commerce sites to protect that data in order to prevent instances of identity theft. There is an associated cost, and without this protection businesses could incur even greater costs in the form of regulatory, civil, and injuctive penalties.
Keeping maintenance costs down
There are ways that owners of e-commerce sites can keep their maintenance costs down, including:
- Streamline the e-commerce process. There are an overwhelming number of processes that take place when one order is made via an e-commerce site. Costs can be kept down by integrating e-commerce with an inventory management system and accounting.
- Choose unlimited hosting. By choosing a provider with unlimited hosting, a business can ensure that their e-commerce site is scalable without incurring hidden web hosting costs as the site grows.
- Cost effective payment processing. Not all forms of payment processing incur the same costs. To keep maintenance costs of an e-commerce website down, a business should choose the most cost-effective credit card processing solution.
The world of e-commerce can be confusing and complex to navigate, especially when so many hidden costs can be incurred from development through to site maintenance. Outsourcing your e-commerce site development could be a more cost-effective solution. At EX Squared, we can handle every element of development to your exact specifications, while providing a cost effective service. Contact us today for more information about developing your e-commerce platform.