Make Security a Top Priority

One of the classes I took at the Simon School was called Marketing on the Internet. Studying online marketing was extremely interesting, and it helped me improve my job performance for my work with Glenn and Rebecca. Marketing KVI products well means that everyone wins - the company grows and our suppliers are able to earn a decent living; our success is their success.

A key thing I learned in class is that security is one of the most important factors customers consider when choosing to purchase from a retailer. This includes both payment security and personal information security.

To corroborate this, I found an article from Investment Weekly News, which stated that according to a consumer study of online shopping fears, 83% of consumers say that the most motivating factor to shop online is assurance that payment and personal information is secure. (Study conducted by Javelin Strategy and Research and co-sponsored by eBillMe.)

The next most important factor is that the purchase will meet quality expectations at the lowest possible cost. 

This translates into a few important points for entrepreneurs building an e-commerce site:

• Make sure that on your website you place the logo of a third party site that verifies that the information customers provide on your site is secure. Consumers should be able to click on this logo and be directed to a website profile that confirms your site's security. Strategically place the logo on your homepage and include it in the check-out process to remind customers that your site is safe.

• Have a link to your privacy policy that clearly outlines how you treat personal information collected on your site.

• Reduce the risk for your customers by displaying the quality of the items sold on your site. Show pictures; allow for magnified views so they can take a closer look; be very descriptive about product attributes. Consumers can't feel/hold a product online. Try to offer them an experience that comes as close as possible to that of a store.

Put yourself in the shoes of the customer and think about how do you would choose what websites to shop at. You wouldn't supply personal and credit card information on a random site without being assured of its safety.

Remember, you are not Amazon (at least not yet:-)); you are still in the process of building a name and reputation in the e-commerce space. You must prove to be a trustworthy source before expecting customers to purchase from your website. Eventually, that trust will turn into loyalty.