On Wednesday, August 4th during #StartupChats, we talked about Building Strong Online Businesses with Mastercard Canada.

We were joined by three online store savvy experts;

Nunzio Presta, CEO of BuyAndSellABusiness.com

Lyndon Johnson, Founder of COMMS.Bar

Naina Kansal, Entrepreneur Success Manager

We began by talking about the importance of an online presence;

A1 – Aside from the pandemic limiting in-person shopping 1 in 4 Canadian businesses had some online sales in 2019. More importantly, the bulk of retail goods sold in Canada were sourced online in B2B sales. It’s a multi-faceted opportunity.#StartupChats https://t.co/p4cggBkwOV

— Colin McGuire (@realColinMac) August 4, 2021

A1. The world no longer has borders when business is done online. Especially with the pandemic, clients expect to be able to find us and buy virtually. @MastercardCA @Moneris #StartupChats

— Tracey Bissett (she/her/hers) (@bissettfinfit) August 4, 2021

A1: Consumers are online more, not only purchasing but researching. An online presence is super important for the “pre-purchase” stage, so consumers can learn about who you are as a company and engage with your brand on a more personal level. #StartupChats

— Nunzio Presta (@nunziopresta) August 4, 2021

Then we identified the first step to getting online;

 

A1: Consumers are online more, not only purchasing but researching. An online presence is super important for the “pre-purchase” stage, so consumers can learn about who you are as a company and engage with your brand on a more personal level. #StartupChats

— Nunzio Presta (@nunziopresta) August 4, 2021

A3 It is essential to have the right business model – as usual understanding the market, and selling something that there is a demand for and an appetite to buy.#startupchats

— Matt Elton (@fintech_matt) August 4, 2021

A3: First, create a plan. Research competitors, identify your target audience and figure out what your online store will stock, it doesn’t need to be your full in-store inventory either! An online store opens up many possibilities, and a plan gives you direction. #StartupChats

— Moneris (@Moneris) August 4, 2021

We learned that brand recognition, smooth experiences and customer service makes an online business stand out;

 

A6. Consistent look, feel & experience no matter how you interact with the company. Ease of navigation, check-out/cart set-up and ability to contact a human is also important. @MastercardCA @Moneris #StartupChats

— Tracey Bissett (she/her/hers) (@bissettfinfit) August 4, 2021

A6 Every business will have a different strategy and approach. What is universal is the customer experience. Consider a frictionless, personalized, and secure environment for your customers to shop and make payments, which can help to drive sales. #StartupChats

— Mastercard Canada (@MastercardCA) August 4, 2021

A6 Every business will have a different strategy and approach. What is universal is the customer experience. Consider a frictionless, personalized, and secure environment for your customers to shop and make payments, which can help to drive sales. #StartupChats

— Mastercard Canada (@MastercardCA) August 4, 2021

 

If you want to see the entire conversation, you can see the transcript here.