Day 03: Product Payment & delivery

10 years ago / getstarted 0

Day 03: Product Payment & delivery

With the product and the supplier, delivery process is the next thing you need to think about. You will need to arrange how the product can reach your customers and how you get paid.

Product payment

You need to consider how you will get paid. It’s always advisable to use payments modes that are instant and easy to withdraw. This ensures that you have the money available for immediate use and you do not delay the order delivery. This will ensure you run the zero capital model where you use your client’s money to purchase and deliver the product and service.

It’s also good to understand what your niche will be comfortable paying with. Look for payment modes that are available within your niche. For instance, do not provide credit card payment options for a farmer in Africa, may be mobile payment options will be more idea.

Currency is an important consideration. It’s always good to trade in your country’s currency. This makes it easy to transact. Some time you might be required to trade in multi currency. In this case, ensure that you put a small exchange margin to cater for costs associated with exchanging the foreign currency to your local currency. Sometime foreign currency can take time to settle and therefore ensure you can get some funds to facilitate the order delivery before the funds clear.

One last point to note is on refund. Have a way you could refund the payment made once a product is returned. Some customers might claim for refund and you need to ensure that they are refunded reasonably. Ensure that you have a refund policy in your terms and conditions.

Product Delivery

Product or service delivery is very important. It creates the competitive edge in a market where there are so many sellers. To start with, if you have time, you could deliver the product yourself. If you are committed, you could have someone or a courier service to deliver. For a service, you as the expert needs to deliver the service.

Always deliver your products professionally, exceptionally and in style. Deliver the way it has never been delivered in that market.

You also need to determine the delivery charges for different geographical zones. And the time that you will take right from when the order was made to the time you will deliver to the client. This is important since the client will know when to expect the product.

It’s always good to notify your clients when to expect their orders to be delivered. This creates confidence and also saves you several frantic calls requesting for delivery. Remember that the customer most probably has paid for the product or service and until the product is delivered, they will ever call you. So just give them the date.

Returning of products should also be thought about. Some clients might consider returning a product due to several reasons. Find a channel that you need to use to ensure that the products are returned and replaced or refunded. Ensure that you have a return policy in your terms and conditions.

Delivery is one of the key elements of customer relations. The way you deliver the product determines if you will get repeated or referral businesses from your customers. This also edges you away from your competitors and determines your position in the market. Therefore you should be careful with the way your product or service is delivered.

The next session will be on Business identity and branding. You will learn how to create your online identity and brand your business.

 


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