Evolving Earnings through Ethical Business: Business Ethics for the Onine Sellers

செய்தக்க வல்ல செயக்கெடுஞ் செய்தக்க

செய்யாமை யாலுங் கெடும். (466)

To do what not to do is disastrous,

not to do what ought to be done is equally so.

- Thirukkural by Thiruvalluvar

This quote of 2000-year-old revered Thirukkural enlightens us, what the present day entrepreneurs or merchandisers have to embrace in their business. Oxford English dictionary defines ethics as - "the moral principles that govern a person's behaviour or the conducting of an activity."

The current-day technology presents us the global business in a platter thus resulting in the easy audiovisual presentation of our products to the world market. The innovating technics of the innumerable applications in audiovisual give us the temptation of presenting the products of sale to the customers by camouflaging the inherent defects or shortcomings. The ethical trends are thrown away by the online sellers for an overnight ephemeral gain. On the other hand, history teaches us that successful business houses of the world succeeded in their business by maintaining good business ethics.

Major ethical issues companies face in e-commerce are privacy, security, trust, intellectual property rights, and some environmental issues. Foremost amongst them is the privacy of customers. The adoptive technics of Artificial Intelligence bring forth the corroborative information about customer taste and behaviours. A huge amount of data collected with or without the knowledge of the customers by the companies. It has to become a commitment to the business sectors to preserve this in a secured manner and to maintain the privacy of the customers. This ethic cannot be compromised on any account.

The customers are asked to pay for the goods purchased by the secured gateway or by different kinds of payment methods. The online seller has to make sure that the payment methods are very much secure and all the latest security technics are established in their market sites.

The trust and integrity of the online sellers have to be established firmly to have a long lasting business relationship with the clients. The contents while presenting the products to the customers by way of audiovisual and scripting, have to be in the truthful form without any doctoring. The customer has to be made to understand, the true nature of the product he purchases Any discussion on the product details has to be attended to and the customers have to be satisfied before they make the purchase.

The return policy of the seller has to be explicitly mentioned in the market site and has to be adhered to in the true letter and spirit. This not only avoids the displeasure of the customer but also enhances the integrity of the seller. This shall lead to flourishing business with long-standing customers.

In these days of global warming, it is the bounden duty of the seller to be a patron of environmental ethics. The online sellers have to sail along with nature by adopting innovative technics in the packaging by using environment-friendly materials. Get the satisfaction of being part of the environmental protection.

When you go global be adaptive to the countries governing laws for doing business in those countries soil. Each country has its own sets of business laws. Comply with them so as not to get entangled with the laws of the land and to lose the credibility to do business in that country.

SELLinALL with its global presence has all the elements needed for global online selling. Dear Online Sellers, adopt SELLinALL and enjoy the benefits of increased global sales,

- MagicInian@magicinian.com -

What you need to know about Gross Merchandise Value

Gross Merchandise Value (GMV) is defined as the gross sales revenue generated over a period of time by an e-commerce platform before any deduction for fees or commission . It is used to track the growth rate of an e-commerce business since it measures the value of the total merchandise that has been sold through the site for a specific time period, quarterly, bi-annually, or annually. Gross Merchandise Value = Number of Goods sold x Price of goods sold This metric is useful for e-commerce businesses that buy and store the merchandise from suppliers and delivers to customers when purchases are made. However, it cannot be used as a standalone metric for all online retail platforms. For e-commerce sites that operate as a Customer-to-Customer (C2C) business, they do not physically manage the goods. The total commissions generated and accrued expenses, such as delivery fees, advertising, return expenses incurred are more important to track for this business model. This is also known as Gro...

Cold Calling is Dead !

You have probably heard this, ‘Cold Calling is dead.’ And most likely from a new age salespeople and/or the marketing departments of social professional networking platforms. And when quoted with statistics below, one can even conclude that cold calling is futile. Cold calling results in about a 1-3% success rate for getting an initial appointment and it’s generally abusive to both parties. When that same call is made with a referral, the rate jumps up to 40% and even much higher when that referral comes from within the company. - Mahan Khalsa, co-author of Let’s Get Real of Let’s Not Play "Don't SELL on your first warm call" But cold calling has always got a bad rap, since the time of landline telephones supported with the yellow pages. With a huge number of customers in many countries having the option of DNC (Do-Not-Call) registry,it can seem even more for the case of cold calling. But the truth is that this is still an effective way to reach ...

Influencer Marketing in E-commerce Strategy

Influencer marketing is not a new concept in advertising. Before the rise of the internet, celebrities and sportspersons endorsed brands through traditional advertising mediums (TV, news, magazines). Social media platforms such as Instagram, Tik Tok, Facebook, Twitter, and Snapchat, on the internet now allow influencers to directly connect with the core audience. Additionally, the platforms have given opportunities to other people, also known as micro-influencers. Today, 9 out of 10 brands utilize influencer marketing to reach their target consumers and the ROI on using influencer marketing has proven to be more effective, generating $18 for $1 spent. With 7.9 million retailers vying for online consumers, influencer marketing has become a core part of digital marketing strategy. Who or what are Influencers? It’s not possible for upcoming brands to partner with A-list celebrity influencers such as Dwayne ‘The Rock’ Johnson, Kim Kardashian, o...