What to expect when you take your business online

Thanks to the economic effects of the coronavirus pandemic, businesses can no longer expect long-term success from an in-person store. The cost of running a brick-and-mortar business is high, and many people are unemployed. In some cities, like Los Angeles, only vaccinated individuals can patronize indoor businesses like restaurants, bars, and gyms.

Smart business owners are moving their operations online, and if you want to get ahead of your competition, that’s a wise move to copy. Launching a digital transformation for your business is a big deal, but it’s worth the effort. The end result is a business with little to no overhead that can employ team members located anywhere in the world and generate revenue from all customers.

Digital transformation isn’t an overnight affair. You’ll need to hire a team of professionals, and you’ll need to come up with a detailed plan. If you’ve never moved a business online, here’s what you can expect.

You’ll need a tight rein on data security

Chances are, your customers’ private data is on at least one employee’s personal device. If you have a Bring Your Own Device (BYOD) policy, each time someone leaves the company, that private data leaves with them.

However, when your data isn’t stored online, it’s harder for a hacker to gain access. Your former employees’ devices can be hacked while connected to the internet or stolen, but it’s still less of a risk than storing all of that data online 24/7.

When operating entirely online, data in your possession will be at greater risk for being stolen. Online, hackers can execute a variety of tactics to gain access to your web server through phishing schemes, software backdoors, and vulnerabilities. In fact, many of them set up automatic systems to scan the internet for vulnerable websites.

When you rely on a third party for data security, everything is out of your control. Data breaches happen at an alarming rate and have been steadily increasing since they first began. If one of your providers gets hacked, and they didn’t encrypt your data on the server, you could be looking at some serious consequences.

Secure your business online with these three steps:

1. Hire an IT security pro

Have an IT security professional coordinate moving your data online. They’ll ensure your data gets transferred securely, and they’ll help you select a secure, trustworthy cloud-based data storage service.

2. Require encryption

The only way to prevent your business from tanking after a data breach is to encrypt your data. Encrypted data can be stolen, but it can’t be read. When hackers can’t read the data they’ve stolen, it’s useless to them. Encryption is the best way to avoid the problems that usually put people out of business.

3. Enforce your written data access policy

Once you connect with an IT security pro, they’ll help you create a system for regulating access to company data based on each person’s needs. However, access policies are only effective when enforced. For example, if you catch someone sharing credentials, don’t hesitate to enforce the consequences outlined in your policy.

2. Your website will probably get hacked

It’s inevitable that your website will get hacked at some point, especially if you’re using WordPress. Like any software application, WordPress requires action from the user to maintain security. However, people don’t always stay on top of updates, making their installations vulnerable.

Currently more than 13,000 websites are running an older version of WordPress that’s vulnerable to attacks. To avoid becoming part of this statistic, install updates as soon as they come out. You’ll see a notification in your admin panel for core WordPress files and plugins. Some plugins allow you to turn on automatic updates, so take advantage of that feature. Just remember to create regular backups of your website in case an update goes wrong.

3. You’ll experience more returns/chargebacks

Online stores experience more returns than brick-and-mortar stores. According to statistics published by invesp, 30% of all products purchased online get returned, while only 8.89% of items purchased in brick-and-mortar stores are returned. That’s a significant difference.

The higher return rate for online purchases might be caused by the fact that people can’t physically look at items before they buy. Many times, something purchased online doesn’t live up to the advertising, and there’s no way to know until it arrives.

Three ways to prevent excessive returns

1. Create thorough product demonstrations

When people can’t pick up your product in person before buying, a thorough product demonstration will help. It’s also helpful to publish product demos from customers to give a well-rounded view of your product.

2. Skip the hype

Unfounded hype is responsible for many returns, especially for digital goods. No matter what you sell, skip the hype. If your product really is amazing, you won’t need hype to convey what it does.

3. Put a time limit on returns

Don’t give people too much time to return your products. Give them enough time to test it out, but set a strict time limit. For example, a 30-day return policy is fairly standard. If you want to issue refunds beyond 30 days in certain situations, you can make that decision.

4. You’ll need special tools to support a remote team

You’ll need some special tools to support your remote team members, even when some of your employees are local. Without a physical office, everyone will be working online, so collaboration and organization tools are a must.

At the very least, you’ll need a task management system like Asana, document collaboration tools like Google Workspace, and a project communications tool like Slack.

Your job will get easier when you move online

When you move your business online, your job will get easier. It’s much easier to manage an online operation than an office full of people, vendors, and other happenings. You’ll still need managers, an accountant, a marketing team, and all the other standard positions. However, once you create a solid workflow, your teams will be easier to manage online.

You can expect a learning curve when you move your business online, but it won’t take long to learn. The only real difference is that online, you’ll be using digital tools to manage operations.

As long as you stay focused on strong communication, you’ll do just fine.