Jun 2, 2021 | Best Practices, Blog, Warehouse Management Software
Summer is a great time for margaritas and digital marketing. By focusing on the digital platforms that people visit most frequently in the warm months, your ecommerce business should be marketing the summer vibe with sizzling deals and scorching offers. Sunny weather makes people happier in general, so ecommerce business owners, especially in the dropshipping domain, need to be on the ball when it comes to customer experience. If you are not up-to-date on the latest trends in customer experience, your competitors will be.
With ecommerce margins already stretched thin for small to medium sized businesses, it is vital to capitalize on the latest tech and tools to win and retain customers. Especially during summer months, because customers spend less time looking at their devices as they do in the cold depths of winter.
It’s necessary to put in some extra work to grab the already limited attention span of your audience. Once you have it, how do you convert the sale? This article details the main customer experience trends in ecommerce going into the summer of 2021.
Create a Summer 2021 Strategy for Improved Customer Experience
The latest ecomerce trends for improved customer experience are the following:
- mobile optimization,
- micro-influencers,
- email marketing, and
- voice search.
The commonality found here are summer-savvy, ‘on-the-go’ styles of consuming information. From looking at a shopping app on the beach or checking email by the pool, your company should intelligently spend resources where people are looking.
Strategy 1: Mobile optimization
When people are on holiday, camping, or out sunbathing beside a swimming pool (must be nice), the summer months tend to be downtime for PC usage, and uptime for mobile devices, smartphones, and tablets.
Increased mobile usage also draws more people to social networks such as Facebook, Snapchat, and Instagram, which creates added opportunity for ecommerce merchants to sell or advertise on those platforms and makes it easier to reach your target audience. Depending on the age demographic of your products or services, create optimized ads and campaigns to suit summer buying behaviors.
Also, don’t be afraid to churn some marketing budget on running promotional campaigns geared specifically for the summer months. You can run these in isolation or try some re-targeted ads to your email database subscribers. Hitting people with the same message on multiple platforms is a proven approach to generating more attention and conversions.
Strategy 2: Utilizing the power of Micro-influencers
If you run a new company or are launching a new product, people usually require more convincing to buy, compared to a big brand or known entity. With ecommerce specifically, customers need to trust in what they’re buying to be convinced to open their wallets. The younger the potential customer, the more important it is to find a way to show them your product in all its glory.
Enter: Influencers. Showing people how things work is even more effective when the person doing the demonstration is someone they know.
Some surveys show that influencers or bloggers promoting your product can increase sales by upwards of 30%. This doesn’t mean you have to spend tens of thousands to enlist a d-list celebrity on Cameo. In fact, many survey respondents indicated that they respect and associate with micro-influencers more than celebrities that are just in it for the paycheck.
Beyond their effectiveness, another advantage of micro-influencers is that they are a lot more cost-effective than traditional online advertising channels. Some influencers will even agree to be paid in different ways than just cash, like free or discounted product.
Try negotiating with these influencers to give them product samples in return for promoting your products. Also, you could consider an ambassadorship, offering a percentage of sales instead of a flat fee agreement.
Strategy 3: Email marketing
Summer is not the time to overlook your hard-earned database of email subscribers. In fact, it’s the ideal time to catch people checking emails on the go, during an idle moment in an airport, ferry, or at their hotel.
While social media may create a buzz of activity and noise, it doesn’t come anywhere near email marketing regarding conversion rates. Email marketing is one of the best-performing of all digital channels in terms of creating conversions. More than 65% of users polled indicated they had purchased the back of an email campaign. That rate is more than double that of the combined social media platforms.
Email marketing is highly targeted since it enables you to send specific messages to people that have already expressed an interest in your products. Utilize a basic CRM and email marketing tool to track what your subscribers are interested in. You can update their preferences and send them only the most relevant products.
Ensure your email marketing campaigns show a clear ‘call-to-action’ button at the end. Summer sales, discount codes, and personalized recommendations are particularly effective. You can also use email marketing to clear overstocked products or discontinued seasonal lines.
Strategy 4: Turn up the volume on voice search.
Voice search accounts for around 50% of searches, by some reports. This varies by country, but there is no denying voice search is a growing trend.
Virtual assistant devices are present in an increasing number of homes. This creates a new opportunity for ecommerce retailers: Voice search optimization. Voice search does not directly compare to search engines optimization (SEO) and must have specific content.
Ensure that your website, and especially your product listings, are optimized for voice search. Voice search responds more to search phrases than it does to traditional keywords, so you should customize searches based on answers to questions.
Wrap It Up
Successful ecommerce retailers need to be leaders in customer experience along the shoppers’ journey. Creating a smoother customer experience means making it easier for people to buy from you wherever possible.
Position your products where people will see them during the summer months, mainly mobile devices, smartphones, and social media. When you’ve piqued their interest, ensure that the buying or decision-making experience is a smooth one. From showing color options to tech specs, your potential customers should locate and see more information quickly.
Jun 1, 2021 | 3PL Warehouse Management, Best Practices, Blog, Fulfillment, Warehouse Management Software
Always protect the goods! 1 in 100 packages shipped annually by UPS or FedEx are reported as lost or damaged. Considering together the two carriers ship almost 8 billion packages per year, that’s almost 8 million packages on the receiving end of some extra tough love.
In general, the main risks that cause damage to goods are:
- Getting dropped
- Heavy vibration from conveyor belts and trucks
- Getting compressed (i.e., squished) from stacking or sudden movement
- Humidity and temperature changes
Depending on the fragility of your goods, you should first evaluate what is required for full protection. Take into account the type of box material, packaging materials (e.g., styrofoam aka ‘packing peanuts’), etc., and compare that to the cost of repair/refund for a damaged item. Note that while you can save some money using cheaper alternatives for packing, you may pay more in the long run if items are frequently damaged on their way to customers.
Tips to Avoid Damaged Goods
Whether it’s thrown around in transit, dropped down chutes and conveyors, or subject to the harsh elements, retailers must consider these packing tips to avoid the headaches of customer refunds and returns caused by lost or damaged goods.
Tip #1 – Fragile Product? Double Up.
Fragile products must not have room to shift around during transportation. To prevent fragile products from breaking, we recommend one of the following:
- Use ample amounts of packaging materials (see below) in a right-fit box,
- Ship multiple items in one box using compartments
- Box-in-a-box packaging for added protection and branding opportunities
Consider the following packaging materials for impact protection:
- Polybag: Cheap, sealed plastic bag. Prevents water damage, but no structural strength.
- Jiffy bag: Like a polybag with added cushioning
- Bubble wrap and air cushions – although it can get expensive, bubble wrap and air cushions provides total coverage
- Brown paper and void fill materials – the cheaper alternative, brown paper and styrofoam packing peanuts are easily scrunched up to fill voids in packaging; however, it can collapse easier than bubble wrap on long journeys
- Single-ply corrugated roll – Line thin cardboard boxes and wrap bottles with this to increase impact resistance
Tip #2 – Heavy Products? Wall Up.
Heavy products could deform or collapse weak boxes when stacked. That’s why it’s important to know a box’s ECT (Edge Crush Test) rating, which is the amount of weight that can be stacked on a box wall before it deforms and collapses. When shipping small and medium sized products, single-walled boxes provide enough support. As for larger, heavier products, only use double- or triple-walled corrugated boxes depending on the fragility and value of your items.
Tip #3 – Shipping Liquids? Bag up.
For liquids, perfumes, aerosols, especially those that come in easily breakable containers, most carriers advise that they are shipped separately when possible, using padded poly bags or jiffy envelopes.
Tip #4 – Take a Picture of Your Package Contents Before You Ship
Before handing off any package to a carrier, we recommend taking a picture of the package contents and condition. That way, you have proof in case a carrier tries to shift blame to your warehouse processes.
That’s why ShipHero created a feature that allows warehouses and fulfillment centers to seamlessly take snapshots of packages before completing the packing and shipping. Simply set up a camera and scan a barcode, and the image is automatically uploaded to the order. It fits right inoto your pick and pack processes and gives you the liability protection you need.
Tip #5 – Create a Best Practices Guide
Depending on the item value and size, create a playbook for your warehouse workers and pick-and-packers so they can use the correct packaging every time. This ensures that products aren’t damaged in transit and also saves you money from over-packing.
Wrap It Up
By following these 5 tips, you’ll effectively reduce the likelihood of your goods getting damaged in transit from your fulfillment center or warehouse. This will not only help your bottom line, but will also avoid complications from returned products. Goods, protected.
May 28, 2021 | Blog, The Packet
Fresh Format Alert
It’s officially summer (almost) and we’re gonna shake up The Packet format this week because we all need some change. If you’re loving The Packet so far, just wait for what we have in store. Also tell your friends and coworkers to subscribe so you finally have something in common. Let’s unpack it.
Amazon and MGM Merger
The giant e-commerce company has announced a new blockbuster deal. For a whooping $8.45 billion, it will acquire MGM Studios, which famous for classics like James Bond, Rocky and more timeless franchises, as well as 4,000 movies and 17,000 TV shows. Can’t you just smell the future product placement? After purchasing Whole Foods, this is Amazon’s second large acquisition in their journey to become the “everything e-commerce” store. Read more about the merger and what this means for the Entertainment industry here.
Cryptoh-no.
Just when it seemed like Bitcoin and cryptocurrency were finally embraced by Wall Street and Main Street, with companies like Tesla, WooCommerce and even Shopify accepting Bitcoin as payment, this month the entire cryptocurrency market has experienced huge swings of volatility, with prices dropping over 20% of all-time highs practically overnight. Speculators have taken a bleak stance on the future of cryptocurrency, and Mark Cuban has even coined this latest downturn “The Great Unwind.” Read more about Crypto and E-commerce at our blog here.
Charlie Bit My Finger NFT
The viral video “Charlie Bit My Finger” will be removed from YouTube after the creators sold it as an NFT for $760,999. Learn more about NFTs and why people are clamoring to throw money at them here. Where are the Charlie Bit My Finger kids now you ask? Check out the riveting journey of their 10 year anniversary here. Warning: Graphic Content. Oh how child stars shine bright and fast.
On a high-protein diet? It’s almost cicada season so check out a nice cookbook here.
Ever wonder why freight railroads are separated into classes? It’s not smarts, but the annual revenue. Sounds like Harvard. Find out more here.
Cool Online Brand of the Week
Giving new meaning to their ‘garden unit’, indoor farming is having its time in the grow lights. The vertical farming startup Bowery just announced a $300 million round of funding for its indoor “post-organic” farm, which grows pesticide-free leafy greens inside a New Jersey warehouse. Mmmm fresh. And now, its products are sold in 850 stores nationwide. Learn more about the indoor farming industry here.
ShipHero News
A Case Study That Reaches New Heights
“Finding high-quality, well-tailored men’s clothing online can be a tall order—especially for men who are 6’3” or taller. So demand was really high when American Tall, a men’s apparel brand for tall men, launched their direct-to-consumer ecommerce site. American Tall is a direct-to-consumer lifestyle brand for tall (and extra tall) men. They create quality, tailored clothing and accessories for men between 6’3”–7’1” with a Medium to XXL tall build…”
Continue reading and learn how American Tall scaled their fulfillment Operations by 400% with ShipHero in our latest case study!
May 27, 2021 | Blog, Case Study
Introduction
Canadian Tire Corporation Limited has been operating an efficient retail logistics and supply chain since its founding in 1922, making it one of Canada’s most trusted and iconic Canadian retail brands. Canadian Tire manages a network of 1,700 retail locations across a large family of brands such as Canadian Tire, Mark’s, FGL Sports, PartSource, and the Canadian operations of Party City, ranging in the automotive, sports, hardware, leisure and home goods industries.
“We set a service level of 99% shipped next-day, and I’m happy to say not only did we hit that, we constantly hit that. And on the cost side, I would say the rate shopping component has actually saved us about 25% on the freight expense…” — Carmine Bosco, AVP Supply Chain at Canadian Tire.
Canadian Tire had been operating under a traditional ecommerce fulfillment model for nearly a century. With their executive team offering full support, this organization’s supply chain team decided to challenge their old way of doing things in order to find a better balance between service and cost. a better service with
The Experiment
Customers across the world are demanding better service. The true challenge, as noted by Canadian Tire AVP of Supply, Carmine Bosco, is to find the perfect balance between offering a good service while maintaining costs. One way companies have found this balance is through optimizations in the logistics and supply chain. With the full support of their executive team, Canadian Tire decided to launch an experiment.
The Hypothesis: Applying an agile approach to ecommerce fulfillment, the team would be able to stand up a new solution quickly with incremental and tangible benefits, without any impact to costs or service quality.
Setting up the Experiment: Canadian Tire decided that there were four crucial factors that would dictate the success of the experiment. These four success factors were:
- Executive Sponsorship – Fortunately, the Canadian Tire executive team was ready and willing to challenge the status quo for their logistics and supply chain organization
- Controlled Environment – Canadian Tire already had warehouses. All they had to do was clear out space in these warehouses , then designate them specifically for ecommerce fulfillment.
- A Test Subject (aka guinea pig) – One of the brands under the Canadian Tire family banner, Pro Hockey Life, had been operating a traditional ecommerce fulfillment model for a few years. Due to its success and growth, the Pro Hockey Life team was struggling to keep up with demands. Consequently, their service was suffering and their costs were getting higher. Carmine mentioned that during influxes of shopping like Black Friday and Cyber Monday holiday shopping, it would take several weeks to fill orders. Due to this, the Pro Hockey Life team happily volunteered to participate in the pilot.
- “Slick” Technology – In order to influence the larger organization on how to build out ecommerce fulfillment operations, the logistics and supply chain team needed to implement a brand new technology not in a couple years or even months, rather in a couple weeks. This technology needed to be flexible, innovative, scalable, AND agile – or as Carmine put it, “slick.”
So Canadian Tire already had the executive sponsorship, the controlled environment, the guinea pig; and after scouring the web, they finally settled on the slickest technology on the market: ShipHero.
Why ShipHero
Canadian Tire had several key considerations for this experiment in order to declare it a success, and ShipHero checked all the boxes. These considerations were:
- Quick Connection to the Website and to Couriers – With ShipHero’s easily integrated platform and dedicated team of experts, connection to Canadian Tire’s website was a matter of hours, not months or weeks. Also Canadian Tire uses various courier companies for printing labels, and again, ShipHero was able to integrate with these couriers within a few hours.
- Easy Training and Implementation – ShipHero doesn’t require any special tools or gadgets to work. An iPad and bluetooth scanners; those are the only two devices that ShipHero employs and are two devices that everyone is comfortable with and uses regularly. So, Carmine and the Canadian Tire employees found the training to be fast and easy, meaning the system could launch even quicker.
- Immediate Cost Savings – With ShipHero’s rate shopping capabilities, each and every shipment is rate shopped across your courier connections and the cheapest option is automatically selected. Due to its highly configurable order management rules, there’s no need to get IT folks involved to make these changes.
In addition to the above, the ShipHero website offers a plethora of useful information to maximize your ecommerce fulfillment experience, complete with explanatory how-to videos along with in-depth descriptions of the ShipHero processes. For all the above reasons, Canadian Tire chose ShipHero to launch their ecommerce fulfillment experiment. So, the teams got to work, rapidly standing up a warehouse and setting up ecommerce fulfillment operations, from racking to packing stations, networking / systems setup and team training.
The Launch
In just 4 months, the service launched and began shipping ecommerce orders for the first brand to come online, Pro Hockey Life. This was accomplished by working closely with the logistics and supply chain team, and by ShipHero’s agile, flexible, and scalable roll-out strategy that consisted of:
- Defining an MVP – Using a phased rollout approach, a Minimum Viable Product (also known as MVP) was quickly developed for the warehouse launch.
- Speed with SaaS – Without the constraints of a complicated software solution, ShipHero was configured within days.
- Team Collaboration – Canadian Tire and ShipHero teams worked in unison to gather and satisfy the MVP requirements needed for launch.
- Training & Launch – Through onsite workshops and meetings, ShipHero personnel conducted train-the-trainers sessions, as well as role-based training for the larger Canadian Tire team.
Now with the experiment underway, Canadian Tire just had to sit back and watch the results.
The Advantages of Scale
The ShipHero service also successfully started shipping ecommerce orders and because of the team’s due diligence with setting up the shipping rate shopping features of ShipHero, the Canadian Tire team saw an immediate ROI realized through the rate shopping tool.
So with the initial experiment a success, Canadian Tire wanted to go beyond the experiment. Another part of the Canadian Tire family with no ecommerce presence, Family National Sports, was able to simply move their inventory to the specified warehouse. Due to the SAAS model and flexible cloud capabilities, in a matter of weeks, National Sports launched their logistics and supply chain operations. Capacity for scale was proven, and Canadian Tire added more a few more of their retail banners.
With the successful launch of the D2C fulfillment warehouse now serving multiple brands, the next step in the experiment was unlocking retail in-store inventory, increasing available to sell inventory as well as new product offerings.
Unlocking Retail
Through ShipHero’s highly configurable order management rules, Canadian Tire was able to use their existing brick-and-mortar locations to fulfill ecommerce orders, instead of building new facilities. Through leveraging curbside pickup, buy online pickup in-store (BOPIS) capabilities, and other omni-channel logistics, Canadian Tire made smart fulfillment decisions, whether the order would come through the store or the DC.
“So what we did is we started thinking about: how could we unlock retail inventory? I mean, it’s sitting there. Why not? Could we put it on the web while we have the warehouse doing fulfillment. So we found with ShipHero it had order management rules that were robust enough to make decisions on where we should fulfill orders; whether it would be the store or the DC. And this is actually quite a powerful feature because it allows our supply chain to use as a lever, if one or the other: store or DC, and we’ve had several stores actually up and running get over capacity, so we could turn the lever and change and switch the nodes on where to fulfill orders.” — Carmine Bosco, AVP of Supply Chain
Canadian Tire held all the levers to success in terms of logistics and supply chain, with a consistent goal of 99% of orders shipped next-day and a 25% reduction in freight expense. Life was good. And then, a pandemic hit.
Handling a Crisis
Canadian Tire was able to leverage their newfound capabilities from ShipHero to accommodate the ‘new normal’ of post-COVID retail shopping. In-store D2C fulfillment such as curbside pickup and contactless checkout has proven to be an extremely viable solution to the challenges presented by the COVID crisis.
Retail stores are not open for retail, but those that were able to adapt quickly are meeting the increased fulfillment demand of customers who are now buying at home. Our mission at ShipHero is to use agile problem-solving to make the most out of a challenging situation and keep our hard-working clients in business, no matter what.
May 25, 2021 | Best Practices, Blog, Warehouse Management Software
With the buzz around cryptocurrency, Web 3.0, NFT and the blockchain, you may have considered taking Bitcoin as payment for your eCommerce business. Even if you don’t, it pays to familiarize yourself with how crypto changed the eCommerce landscape.
While cryptocurrency prices have been relatively volatile, many companies support crypto payments. Major eCommerce service providers like WooCommerce, BigCommerce and Shopify accept crypto payments through digital wallets like BitPay and Coinbase Wallet.
In this article, we cover the advantages and disadvantages of implementing cryptocurrency payments in your eCommerce business. We also provide a guide to accepting cryptocurrency on your eCommerce website.
What is Cryptocurrency?
Cryptocurrency is a digital currency (i.e. lines of computer code) not issued by a bank or government, allowing users to spend money anonymously. Bitcoin is one of the most prominent cryptocurrencies, which can be traded on crypto exchanges like Coinbase. Some businesses also accept bitcoin and other cryptocurrencies as payment.
Bitcoins are stored in a digital wallet, available online through cryptocurrency exchanges or offline in a flash drive-like device. You use this wallet in crypto transactions by transferring funds from your digital wallet to the vendor.
Top 4 Cryptocurrencies to Know
According to the major cryptocurrency exchanges, these are the four most popular cryptocurrencies:
- Bitcoin: The most well-known modern cryptocurrency
- Ethereum: An energy-efficient alternative to Bitcoin and the second-most valuable cryptocurrency
- XRP (Ripple): Boasts lower transaction fees and often used for international fund transfers
- Bitcoin Cash: Offers an unlimited supply unlike Bitcoin, which makes it a better choice for transactions
Stores That Accept Bitcoin and Cryptocurrency
Bitcoin and cryptocurrency in general has been widely adopted these past few years. Here are some businesses that accept crypto:
- Magento
- Overstock.com
- eGifter
- Shopify
- WooCommerce
- BigCommerce
Is Cryptocurrency a Viable Option for eCommerce Stores?
Many large eCommerce companies accept cryptocurrency as payment, but is it a good idea? Let’s discuss the advantages and disadvantages.
Why Should Your eCommerce Brand Adopt Crypto Payments?
Adopting crypto payments for your eCommerce brand helps you reach more clients and finish transactions faster. Here are four reasons to start taking cryptocurrency payments:
Reach a Broader Market
Taking digital currency payments means reaching a new market of tech-savvy clients. Moreover, accepting crypto means you don’t have to go through the hassle of converting currencies when doing business with international clients.
However, expanding your client base to other countries means you may need to make international deliveries, so make sure your shipping and last mile delivery solutions can handle them.
Process Transactions Faster
Credit cards and bank transfers take hours, sometimes even days to process. Cryptocurrency transactions only take minutes to arrive in your digital wallet, letting you access the money faster.
Get Lower Transaction Fees
Credit card companies and most payment processors can charge up to 5% in transaction fees. Crypto transaction fees tend to fluctuate, but they generally don’t go higher than 1.5% per transaction. This number may seem small, but it stacks – giving you considerable savings in the long run.
Reduce Risk of Fraud
Cryptocurrency transactions are transparent because they’re recorded on a publicly viewable digital ledger called the blockchain. Additionally, crypto transactions are very hard to reverse, so clients can’t ask to withdraw money from your account without your consent, preventing fraud.
Online Merchants That Accept Bitcoin
Many major brands accept bitcoin and other cryptocurrencies. Here are several examples of online retailers and stores that take bitcoin as payment:
- Microsoft Store
- Overstock
- Namecheap
- NewEgg
- ExpressVPN
- AMC Theatres
- Shopify
- Rakuten
Benefits of Cryptocurrency in eCommerce
Lower Transactions Fees
Credit card companies and payment apps like Stripe or Square charge transaction fees anywhere from 3-5% on each transaction. Many eCommerce companies build these fees into their online store prices. Cryptocurrency transactions often don’t have fees or are as low as 1%. However, there are cryptocurrency conversion fees when transferring cryptocurrencies to national fiat currencies like USD.
For Anonymous Transactions and the Bank-Averse
Cryptocurrency allows for anonymous online purchases by using encrypted wallet addresses — it’s basically like using unmarked cash. This allows your clients to purchase items without compromising their personal information and allows you to do business without worrying about any privacy regulations.
Reduce Fraud and Chargebacks
Contrary to popular belief, developers built cryptocurrency’s blockchain technology specifically to reduce fraudulent activity. By accepting cryptocurrency, money is exchanged immediately, it cannot be rescinded and it cannot be forged; therefore, the ability for fraudulent chargebacks or returns is drastically reduced.
Disadvantages of Cryptocurrency in eCommerce
Price Volatility
The value of cryptocurrencies tend to fluctuate wildly, compared to the relatively stable movements of fiat currencies. If crypto values drop, you may experience cash flow issues and difficulty in daily operations.
Lack of Buyer Protection
Credit card companies and banks usually have strong client protection measures to safeguard you from unauthorized spending. However, cryptocurrencies have no buyer protection, so you may need to build trust with clients before they warm up to crypto payments.
Environmental Concerns
Bitcoin is produced through mining, an energy-intensive task that consumes more electricity annually than the entire country of Argentina and has a large carbon footprint that equals New Zealand. These issues can hurt crypto prices, like the bitcoin price drop that happened after Elon Musk and Tesla refused to accept bitcoin as a form of payment because of its environmental impact.
Cryptocurrency Taxes
Although Bitcoin isn’t subject to regulations, the government requires you to report your Bitcoin transactions and the revenue/loss from holding the “property” – as declared by the IRS.
According to the IRS, “a taxpayer who receives virtual currency as payment for goods or services must, in computing gross income, include the fair market value of the virtual currency, measured in U.S. dollars, as of the date that the virtual currency was received.”
Accepting Cryptocurrency Payments on Your Website
If you’re planning to take cryptocurrency as a payment method on your website, you need to prepare these things first:
Digital Wallet
You need a digital wallet to receive, send and store many cryptocurrencies like bitcoin and Ethereum. For eCommerce users, we recommend cryptocurrency exchange wallets like Coinbase because they let you make transactions faster.
Shipping
Adopting cryptocurrency means you’re opening yourself to international clients. Review your shipping capabilities to prevent any delivery issues and ensure you can handle orders from abroad. If not, upgrade your 3PL software, and don’t promise two-day shipping unless you can guarantee it.
Payment Processor
Many eCommerce platforms like Shopify and WooCommerce already offer cryptocurrency payment integrations. If your platform doesn’t offer it, look for a crypto payment gateway that suits your needs.
Marketing
You need to announce that you’re accepting cryptocurrency payments. Do this through your eCommerce website, social media and other marketing tools at your disposal.
How to Accept Bitcoin on Your Site
To start accepting Bitcoin on your eCommerce site, simply integrate a BTC payment processor into your store. Many major eCommerce providers like Shopify and WooCommerce already have BTC payment processor integrations, so you can implement them immediately.
Different BTC payment gateway solutions offer different features, so examine the following when making your pick:
- Cryptocurrency transaction fees
- Batch payout frequency
- Supported cryptocurrencies
- Supported regions and countries
- Client Support
Once you accept BTC as payment, market your progressiveness and tech-savviness to your consumer base. You can display signs on your site that say, “Bitcoin accepted here.”
What If Direct Integration Isn’t Possible?
If a direct integration isn’t possible, consider alternative options such as the following:
- Payment buttons: Add a payment button to your website; consider using the Coinbase API to create your Bitcoin buttons.
- Custom cryptocurrency payment integration: Create a custom-made Bitcoin API that integrates with your eCommerce platform’s shopping cart
- Invoices: Invoice your clients instead of using shopping carts. Coinbase even has an invoice generator tool.
Wrap it Up
If you decide to accept Bitcoin and cryptocurrency on your online store, you’ll want to ensure that your system, transaction and funds are all as secure as possible. So, use strong passwords and multi-factor authentication (MFA) for your crypto exchanges and wallets. Also, regularly update, backup and encrypt your systems and crypto wallet.
To keep your cryptocurrencies safe, buy an offline Bitcoin wallet and put your funds into it regularly. This way, you won’t lose a lot of money if something happens to your crypto exchange account.
While new technologies can be confusing and a bit scary, cryptocurrency has the opportunity to transform eCommerce and international trade as we know it. So while you may not be comfortable with this, at least you’ll have a deeper understanding as the internet and eCommerce landscape continues to evolve.
Cryptocurrency and eCommerce FAQs
How to accept cryptocurrency payments on your eCommerce website?
You must integrate a payment gateway on your eCommerce website to accept cryptocurrency payments. Some eCommerce platforms have built-in integrations, but, in some cases, you may need to make custom buttons or build your own integrations.
Where did cryptocurrency come from?
The first modern cryptocurrency is Bitcoin, created in 2009 by a pseudonymous programmer, Satoshi Nakamoto. As the cryptocurrency space developed, more digital assets like Ethereum and Cardano started appearing.
How is crypto changing eCommerce?
Crypto is changing eCommerce by enabling fast transactions with low fees and improving fraud protection. Additionally, adopting cryptocurrency lets businesses reach a larger market of tech-savvy clients.
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About ShipHero: We make it simple for you to deliver your eCommerce. Our software helps you run your warehouse, and our outsourced shipping solutions eliminate the hassle of getting your products to your customers. With over 5,000 brands and 3PLs relying on us daily, we’re here to help with all your logistics needs.
