The world of online business is absolutely booming right now.

More people are shopping online than ever before. Combine that with the fact that there are now a myriad of unique and powerful ways of making money online, and you have a recipe for success.

To put it simply, there has never been a better time to start an online business.

But to get started you need to have a couple of things sorted -- like an e-commerce platform, for example.

What is an e-commerce platform?

An e-commerce platform is a type of website that allows people to buy your products and services. 

If I were to summarise it succinctly, having a good platform ensures that customers never have to leave your site. They provide a streamlined way for people to search and pay for your products, contact you directly, and access your social media.

Importantly, a good platform will also tell you when a new order has come in, so you never miss a beat.

I should note that when it comes to e-commerce platforms, some are much better than others -- so make sure you choose wisely.

Take my word for it when I say the last thing you want to deal with are transaction problems, customers orders disappearing, wrongly set shipping details, or security vulnerabilities, when you are running your business.

I have been there, and it is not fun.

Where it becomes a little bit tricky is actually choosing an e-commerce platform, because there are a number of options out there. 

Which is why I wanted to give you as much information as possible.

Why you need to pick the right platform

Building an online business is a whole lot more than just simply slapping some products on a website and waiting for the money to roll in. In fact, it requires a lot of strategy and planning -- and even then there is no guarantee for success.

But once you have a plan in place, you can start making some moves -- and this is where picking the right e-commerce platform becomes important. 

Your e-commerce platform will dictate:

  • How fast you can grow your business 

  • The cost to run your business on a daily basis

  • How well you can manage customer engagement

  • The efficiency of your product delivery (whatever it may be)

The reason I wanted to highlight these particular points is because many platforms nail things like site design and branding -- but very few do a good job of these deeper (read: more important) components.

What are the different types of e-commerce platforms

It is important to note that there are a number of different types of e-commerce platforms that you can choose, and they each offer their own unique benefits.

1. Build your own

This is more of a traditional option, as it involves you contracting someone to develop your e-commerce site from scratch. 

This is a good choice if your online business is super niche and has a unique set of needs and requirements that none of the commercial platforms can accommodate -- which I should note, is a very unlikely situation.

2. Traditional Platforms

With a traditional platform you purchase a licence fee upfront, which you renew every year. You (or your development team) then need to build and customize your website using that platform.

Like the build your own option, this requires quite a bit of work on your end, and is becoming less common as a result.

3. Open Source Platforms

Open source platforms are similar to traditional platforms in that they have you follow the same development procedure.

However, you don't actually incur the upfront cost that comes with purchasing a license. Instead, you pay costs associated with site development, implementation, upgrade, and migration. 

One of the more common open source eCommerce platforms is Magento.

4. Cloud Platforms

In simple terms, cloud e-commerce platforms take on the responsibility of managing your store's uptime -- so you don't need to have your own website, so to speak.

In general, this makes setting up your ecommerce site super easy.

Over the last few years some traditional and open source platforms have transitioned themselves into a hosting system and now call themselves cloud platforms (such as Shopify Plus and Big commerce, for example).

5. SaaS Platforms

Last but not least, we have SaaS platforms.

e-Commerce platforms that are provided as SaaS are generally built on a single codebase. This means that everyone who uses an eCommerce SaaS platform experience the same technology for a fixed monthly fee that covers server use, maintenance, security, and upgrades.

These platforms are great for those of you who do not want to deal with the complications of website development and just want to focus on business. 

What should you consider an e-commerce platform?

You know what types of e-commerce platforms exist. But how do you choose one? Well, in my opinion, these are some of the most important considerations you need to make.

Cost

A lot of people actually underestimate the cost of running an e-commerce site. 

There are not only the cost of using the platform, but most companies also have maintenance costs, apply charges when they undergo upgrades, and ask you for more money when they develop new features.

Make sure you read the fine print and are certain you can afford the platform before committing.

Support

As I alluded to earlier in this article, there may be times when things go wrong. 

Whether it is an issue with a customer, or a problem with your site, it doesn't really matter. You want to make sure your site has a great support system in place to deal with it as quickly as possible.

Mobile Friendly

Absolutely everyone on the planet has access to a mobile phone. And as a result, the popularity of mobile shopping has skyrocketed.

To put it bluntly, if your site is not mobile friendly, then you pretty much don't exist.

SEO Optimised

SEO stands for search engine optimization, and it dictates how visible your website is when people search for relevant topics on google. Good e-commerce platforms come with comprehensive SEO features and make sure you get access to new customers through google.

It is super important.

Security

No matter what your product or service is, you will be taking payments from customers. This means credit card details, paypal information, and even bank details. 

As a result, you need to make sure your platform is secure -- otherwise you will run into some issues.

Best e-commerce features

I have outlined some of the most important things you need to consider when choosing a platform. 

Now I want to outline what I believe to be the 'must-have' features of a platform.

Making sure that your platform has these features is a surefire way to set yourself up for success, while ensuring that you never have any issues in the process.

Flexible pricing options

There will be times when you want to run sales and promotions. This is a great way to get new customers to your site, and to reward loyal long-term customers. You want to make sure that your platform can accommodate.

Moreover, you also want to check that it can handle foreign currency, and doesn't charge too many conversion fees in the process.

Automatic tax calculation

While we are on the topic of money, let's talk about tax.

If you have plans to sell any products internationally (which is a must if you plan on scaling your business), then you will need to abide by the tax laws of different countries. Make sure your platform accommodates this, as failure to abide can lead to legal issues down the road.

Which we would obviously like to avoid if possible!

Flexible shipping options

When it comes to shipping, flexibility is key. 

Some people want to pay a little bit extra and get their product the very next day. Others are happy to wait a week if it means saving a couple of bucks.

Make sure your platform provides enough options to keep everyone happy.

Google merchant integration

If your platform integrates with google merchant, it means that it will allow you to upload and maintain product information so it is displayed on 'Google Shopping.' This helps drive more people to your page, which is essential to getting new customers.

Customer reviews 

There is some evidence to suggest that positive customer reviews can increase the likelihood of people buying your product by around 50% -- which is huge.

So make sure your platform has either a built-in customer review systems, or third-party integrations that allow for customer ratings and reviews. This can have a huge impact on your conversion rate, and in turn, your income.

Multiple payment options

Lastly, you want to make sure that your platform can handle the various payment options that exist. Accepting PayPal, credit cards, and debit cards (and even crypto) has been shown to improve reputability and enhance conversions.

It also makes accommodating international customers that much easier.

Take Away

Choosing the right e-commerce platform is critical to the success of your business. The last thing you want is to be stuck with a poorly run platform that has no flexibility, no support, and a heap of hidden charges.

So make sure that you ask some questions and ensure that your platform ticks each of the boxes above. 

This is a surefire way to ensure the success of your online business.