/U/Money;/U/Technology;

Even if you find a good fit at the start, your needs will change as you grow. You’ll list more products in more categories. You’ll get more site traffic converting to more customers, generating more transactions. And your original ecommerce platform may no longer be a good fit for your booming retail business. This is especially true if you were heavily influenced by price considerations when researching your options, because many ecommerce platform vendors offer great deals for small businesses, but their pricing plans don’t scale fairly.

So how do you know when you’ve outgrown your ecommerce platform, and what should you do about it? Watch for these warning signs, and follow our tips for finding a better solution.

1. You’re not able to sell everywhere

Maybe your customers have expressed disappointment at not being able to find you on eBay, or maybe you’ve noticed your competitors have their own mobile app that’s getting a lot of attention. If you’re not selling on all the channels where your potential customers are buying, you’re missing out on sales opportunities. Your ecommerce platform should make it easy for you to sell on multiple channels, and your vendors should help you leap into new sales channels as they arise.

Ask yourself:

• Does my retail platform make it easy to list some or all of my products on eBay?
• Can I readily share and sell my products on social media?
• Can I use my ecommerce platform to create a mobile app for the 53% of smartphone and tablet owners who shop on company-specific apps?

If the answer to any of these questions is no, it’s time to start thinking about switching to an ecommerce platform that can keep up with current shopping trends.

2. You’re not giving customers what they want

You could be letting your customers down if you’re not

• offering a variety of payment methods, including a regular credit card facility through a payment gateway, third party processors like PayPal and Stripe, and instant finance options like ZipPay and Afterpay
• offering free or low-cost shipping that’s fast and reliable
• offering click-and-collect, so customers can shop from home and pick up their goods as soon as they’re ready
• streamlining your checkout process, and offering guest checkout
• sharing useful information on your ecommerce site, like customer reviews, FAQs, shipping and returns information, and helpful blog posts.

If you’re lucky, your customers will tell you about it. If not, you’ll probably just notice a lot of shopping carts being abandoned. But these are pretty basic expectations of online shoppers, and if your ecommerce platform doesn’t make it easy for you to meet these needs, it’s not a wise investment.

3. You’re buying more and more add-ons

Add-on modules are a great way to bridge the gap between what your current system does and what you need to do, but if you’re starting to use more add-ons than inbuilt features, your ecommerce platform is no longer meeting your requirements. As these add-ons are often created by third parties, you generally need to talk to multiple vendors if you encounter billing or technical issues. And it’s almost certainly costing you more money than an all-in-one retail management platform would.

4. You’re doing things more than once

It sounds like you may have bought an ecommerce platform from the dark ages! There’s really no excuse for a platform that requires you to manually copy and paste data between pages or repeat basic tasks that should be readily automated. By switching to an efficient platform that better matches your business processes, you’ll free up time to focus on growing your business.

5. You’re struggling to manage your inventory

Many ecommerce platforms offer only the most basic inventory tracking, and the same is true of accounting platforms. Your inventory management system should

• optimise your ordering process
• help you plan your procurement
• simplify your stocktakes
• integrate seamlessly with your sales system.

If you’re receiving stock in one system, then adding stock levels to locations in your sales system, and updating your stocktakes elsewhere, you’re creating extra work for yourself. Ideally, your inventory should be handled in the same system as your sales, returns, and customer service, so your staff and customers can always access up-to-date stock levels.

6. You’re working between multiple systems

The benefits of rolling your business processes into a single retail management platform apply to more than just inventory management. Which sounds easier: 

• collecting orders manually from your different channels and consolidating them at the warehouse, or viewing them all on a single platform
• generating an order in your sales platform and then manually preparing an invoice in your accounting platform, or creating invoices directly from your orders in the same system and then syncing them to your accounts
• fielding a question from a customer, switching to your inventory management platform to check availability, and then switching back to answer the customer, or having all the information at your fingertips in the one system?

Only when all your business processes are managed within one system, and your data is seamlessly synced to accounting platforms using native integrations, can you be confident that your business information is accurate, reliable, and available when you need it.

Why wait, when you can switch today?

If your ecommerce store has been growing steadily, there’s a good chance you’ve outgrown your ecommerce platform. If you’ve noticed one or more of these warning signs, it’s time to start investigating your options for switching to a complete retail management system.

Neto is the only Australian retail management platform that provides a complete solution for ecommerce, point of sale, inventory, and fulfilment. Our integrated back-end technology enables exceptional and consistent customer experiences via any channel, be it in-store, online or through a marketplace. We automate repetitive tasks and integrate with multiple sales channels to manage orders and shipments. If you’re ready to streamline your store and take your ecommerce to the next level, start the switch today with a Neto free trial.

A modern POS platform doesn’t just blur the line between online and in-store shopping—it obliterates them, creating new pathways for customers to place orders, and new ways for you to fulfil them. 
 
Your traditional retail store is no longer just a place customers visit to buy and take home their products. It’s also a showroom, where customers can view products and seek advice before getting their order shipped. It’s a warehouse from which you can ship orders to your online customers. Your ecommerce customers can “click and collect” their orders, buying online and picking up their goods in store.
 
A modern POS platform also leverages the latest technology so you can offer the payment gateways and value-add options your customers want. With new pay-later services like ZipPay and Afterpay, customers can receive their goods straight away and pay off the balance over an interest-free period. Even classic lay-bys are simplified, with all customer information, deposits, and payment details readily available in your POS platform.
 
You can’t do that with an old-school cash register!

As you’ve just seen in the previous point, your modern POS platform doesn’t exist in isolation. That’s why it needs to be deeply integrated with your other sales channels, such as your online store, web marketplaces (like eBay), and social media platforms. This integration delivers a consistent customer experience across channels, while being simple for you to manage, so it’s a win for both you and your customers.
 
Your most loyal ecommerce customers may rarely shop in-store, so a traditional POS system wouldn’t recognise their high value. But a fully integrated, modern POS platform enables you to search for them during an in-store transaction and view their unified sales history across all channels, so you’ll be able to recognise their VIP status.
 
And on the rare occasion an online shopper is unhappy with their purchase, you’ll have all the information you need to handle their return in-store, with the added benefit of the personal touch. This is more than just a good way to restore their confidence; it’s also a reassuring message to other online shoppers that their purchase is satisfaction guaranteed.

With a modern POS platform, your staff won’t need to spend valuable work hours calling other stores to figure out which one has a particular item in stock. Every POS terminal lets them view real-time stock levels across all locations, including your warehouses. And online shoppers will always have the same up-to-date information, so they won’t miss out on popular items, and they’ll know which store to visit if they want to try before they buy.
 
The full inventory management capability of a modern POS platform also helps you optimise your inventory and sales cycles. With automated replenishment and streamlined stock transfers, you’ll never disappoint your customers by being out of stock. And cloud access means that, wherever you are, you can log in to find all the information you need to minimise ordering and warehousing costs, and maximise your cash flow and profits.

As your retail business grows, your POS needs can change quickly. Only a modern POS platform can keep up with the pace, enabling you to add a new POS terminal to your store in just a few clicks, using off-the-shelf tablets or computers. If you’re expanding to new outlets, it’s easy to create a whole new location and add user accounts for your new staff. 
 
And you won’t need need to limit yourself to traditional shops. With a modern POS platform, you can open a pop-up shop when the opportunity arises, and instantly remove the new outlet when it’s time to close down.
 
The benefits of switching from a classic cash register to a modern POS platform are hard to ignore. Neto is a leading omni-channel retail platform designed to help growing retailers sell anything, anywhere—from web, mobile, eBay and social media, through to traditional bricks-and-mortar stores. With a wide range of add-on integrations and powerful back-office capabilities, Neto takes care of the details so you can concentrate on your core business: customers. Start your Neto POS free trial today.

Ecommerce and physical store owners are drawn to services like ZipPay and Afterpay because they provide a simple solution to offering risk-free customer finance. Yes, risk-free—they wear all fraud and credit risk, and you’re guaranteed to get paid. Even better, both these companies offer same-day settlement, improving your cash flow and ensuring you never have to worry about unpaid invoices. And the fee structures are transparent and easy to understand—not like credit cards! As an added bonus, payment processors often feature their merchants on their website, so you reach a new audience.
 
But most of all, store owners love the pain-free payment process, which helps get customers across the line. That means they’re seeing large increases in the metrics that matter, like shopping cart conversion rates, repeat business, and total order value.

Each company offers a slightly different service, so you’ll need to check out the available options and decide which ones are a good match for your brand. But, roughly speaking, they all work like this:

That’s the whole lot in five simple steps—much easier than setting up a lay-by or issuing a store card!

ZipMoney, AfterPay, and similar payment processors charge merchants a small fee on each transaction, and some may also charge set-up or subscription fees. The fees tend to be comparable to credit card merchant fees, but more transparent. But don’t let that put you off—many merchants are reporting significant increases in total sales, and average order values jumping by over 50%, which is more than enough to make up for the fees. 
 
It’s good news for customers, too: most pay later services won’t charge them any fees, unless they miss a payment. And that’s hard to do, because the payments happen automatically! (Some companies, such as ZipPay, also let customers choose a longer payment term for a small monthly charge.)

ZipMoney and Afterpay are currently the two main providers in Australia, but this space is growing, so it’s likely there will be more options available over the next few years. They all offer a similar service, but with slightly different fees and payment structures that may make them more or less suited to your business—something to keep in mind when you’re making the decision. Some retailers are giving their customers even more choice, by offering both ZipPay and Afterpay. 
 
Another major factor you’ll want to consider is how readily the service can plug into your existing ecommerce and point-of-sale software, so you can avoid costly customisations. Neto currently supports ZipPay (by ZipMoney), and Afterpay. And you can always ask your customers if they’re opting to pay later when they shop in other stores, and suss out what your competitors are using.
 
Buy now, pay later services are an appealing option for merchants and customers alike. The sooner you get started, the sooner you can break down the barriers to buying, and boost your bottom line.

She’s great at what she does – she knows it, her client knows it, all the stakeholders know it. She’s efficient and can practically do the work with her eyes closed (a helpful skill to have when you’re a sleep-deprived mother).

But interestingly, she asked me the other day: “Is it weird that I feel bad every time I send the client an invoice for my time? I feel so awkward asking for money!”

Actually, I knew exactly what she meant..

As a copywriter, I always felt a pang of anxiety every time I sent an invoice. I had no reason to. I was always clear with my clients around pricing expectations and I was always ready to offer up a breakdown of time if they requested it (actually, no one ever did).

But for some reason, asking for money gave me the guilts. Was I asking too much? Will they think that the work is worth it? Will the client question how much time I spent? Did I accurately record my time? Will they ever ask me to do work again?

Why do we feel guilty for charging for our time?

There could be any number of reasons why sending out an invoice makes you uncomfortable. Sellers’ guilt is particularly common for those who work in creative or artistic industries, where you might feel that value is subjective or hard to quantify.

Perhaps you:

• don’t feel worthy or value your skills 
• don’t feel qualified enough or feel like a fraud 
• think that asking for money will make your relationships awkward 
• feel that asking for money is ‘unethical’ because of your own beliefs around money 

Well, here’s a swift lesson: guilt doesn’t pay the bills.

Sellers’ guilt has the potential to take you or your business down. So, if sending out your invoices makes you feel anxiety, guilt or shame, then here are 10 things to remember to help you get comfortable with unapologetic invoicing:

What you do makes a difference

Your clients approach you and engage your services because they need your help. You provide them with something that they need, and otherwise may not have been able to do themselves. Remember that the reason you are selling your services is because you also want to help people and make a difference.

Understand the value you are generating for your client

The friend I mentioned earlier is contracted to help organise big events. The work she does has the potential to bring big money – and big kudos – to her client. That also means big value. If she considers how much value her work will bring the company, she would realise she has no need to question her hourly rate.

Noah Kagan from AppSumo uses this example: When Mint hired him, they paid him $100,000 for being the director of marketing. He thought they were nuts for giving a 24-year-old that kind of money. The work he did in that role contributed to Mint selling for $170,000,000. So, I’m pretty sure that $100,000 was well worth it.

It’s not personal, it’s business

You walk into the supermarket because you need milk and bread, you select the product you want and take it to the check out. You pay for the products based on the price that the supermarket decides to charge. There’s no room for negotiation here. Why should it be any different when it comes to your services?

Discuss your rates openly before you start any work. If your client doesn’t like your rate, they don’t have to use your services. That’s simply the way business works. Don’t feel that you are taking away wealth from someone else when you charge for your services, you are in fact simply contributing to the economy in the same way that the power company, the grocery store or your insurance provider is.

Research market rates

If you want to feel confident that your rates are fair, keep an eye on competitor pricing and market rates. If you’re below average then you’re likely underselling yourself, if you’re above average, make sure you are sufficiently communicating your value to your clients so they understand that you’re worth what you say you are. Trust that your prices are fair, or if they’re not, re-evaluate.

Discounting only reduces your value

Don’t offer discounts just to quell those guilty pangs. People value what they pay for. If you continuously reduce your prices, you’re also reducing your worth, and your customers will not appreciate the real value of your services.

Discuss expenses from the start

Agree on what you will be including in your invoice other than the time spent. This includes things such as meetings, milage, phone bill, travel time, printing, additions to project scope or any incidental purchases that you may have had to make during the course of your project. It will no longer keep you awake at night wondering if your client is going to Spanish-Inquisition your expenses.

If you don’t think your clients will agree to paying for these things, consider incorporating the cost of them into your overall charge out rate instead.

Provide a breakdown

If you are concerned that your client might question your cost, send through an invoice with a clear breakdown of time or services before they even have to ask. If it’s all there in black and white they will have a clear understanding of where their money is going.

Use job management software such as WorkflowMax to help you manage this. You can directly input your costs and time using timesheets. This information is then pulled straight through to your invoice.

You don’t owe them anything

For my friend, her contract arrangement works perfectly. She can work from home, still look after her daughter, work hours that suit, keep her mind challenged and do something that she genuinely enjoys. It’s not hard to see why she feels lucky about her situation. But her client didn’t employ her just to do her a favour. They need her. Demonstrate that you’re grateful for the opportunity to work for the company by delivering great work – but then charge what you’re worth!

You’re worth it

Chances are that you are in the position to work for yourself and dictate your own earnings because you have earned it. You’ve studied, worked hard, and done the long slog to get to where you are. Remind yourself that you’ve got plenty of experience under your belt, strong industry relationships and an excellent reputation. If you’re doubting yourself, ask clients for feedback or testimonials for validation.

You’re likely saving your clients money

Yes, they might not exactly see it that way, but it’s true. My friend commented that she is so conscious of keeping client costs down that she has never worked so efficiently. She knows that if she wants to keep her contract, pick up work going forward and establish a great reputation, she has to work hard and deliver great results.

In my own business, there were many tasks that I could have tried to do myself instead of hiring someone. For example I could have slapped up a DIY website, designed my own business card and completed my own tax returns. But the time I would have spent on getting these things right would work out far more costly – and stressful – than hiring a professional to take care of it for me.

Always remember, people prioritise where they spend their money. If they’ve made a decision to use your services then they recognise the value and understand that it comes at a cost. So long as you maintain honest practices around timetracking and invoicing, you should send off your monthly invoices without apology and feel confident that the services you provide are making a difference in the lives or businesses of your clients!

Are you a sufferer of ‘sellers’ guilt’? What other advice do you have for fellow sufferers?