How To Start An Online Store: An E-commerce Business Strategy
Building a successful e-commerce retail store is not that easy these days, especially because of the ruthless competition in the present industry. I have tried to explain and strategize few ideas that would help you start an online store. Starting an e-commerce business is tough, but if you follow these steps, your online e-commerce business is gonna boom.
How to Develop a Successful E-commerce Business
Starting an e-commerce business is hard work with many steps and decisions that need to come together at the right time. To help, we have put together a comprehensive resource list, compiled with some of the most important points that you should always remember. These points have been placed in a logical order, based on how you would research, build, launch and grow a profitable e-commerce business.
Step 1: Choosing Correct Products
How To Find The Products To Sell
The first step to building an e-commerce business is to know what products you want to sell. This is often the most challenging part of starting a new online business. In this section, we will highlight the strategies you can use to find product opportunities, explore the ten best places to look for product ideas, and finally, we will reveal ten trending products that we came up.
How To Evaluate Your Idea
Once you have a product idea in mind, how do you know if it’s a good idea or not? In this section, we will go through two exhaustive evaluations methods, evaluating both the product itself, as well as the market for your product choice.
How To Obtain Your Product
Having found your product idea and evaluating them in the previous section, you must now figure out where and how you’re going to obtain your products. The next two posts will cover the various methods for acquiring your products, along with the pros and cons of each model.
Step 2:Doing Research & Stay Prepared
Research Your Competition
You’ve found your product, evaluated the potential and sourced your supplier. It’s time to write your business plan, but before you get into that, you’ll need to research your competition thoroughly so you know exactly what you’re up against.
Writing Your Business Plan
With your competitive research complete, it’s now the perfect time to write your business plan. A business plan will be your roadmap that helps bring your ideas and thoughts together. A business plan is vital so that you can determine how to best move forward and most effectively compete.
Registering Your Business
With a business plan in hand, now is a good time to consider your options for registering your business.
Step 3: Setting Up Your E-comm Business
Naming Your Business
Aside from finding an actual product to sell online, another difficult decision is determining your business name and choosing an appropriate and available domain name. This blog post will help you tackle these important tasks.
Creating A Logo
Once you have solidified your name and registered your domain, it’s time to craft a logo. In these posts, we will show you several options for creating a great logo for your new business.
Understanding Search Engine Optimization (SEO)
You’re almost ready to begin building your online store. However, before you jump into it, you should understand the basics of search engine optimization so that you can optimize your site for Google and other search engines.
Building Your Store
With a better understanding of search engine optimization (SEO), it’s time to build out your store. There are many critical elements. The most important points that you should always consider before building your online store are:
- Writing captivating product descriptions,
- Shooting beautiful product photography, and
- Having some of the best tools like Lightroom & Photoshop to optimize those photos.
Step 4: Preparing To Launch
As you prepare for the launch of your new business, there are several essential elements you need to prepare for. In this section, we have curated some of the most comprehensive points on helping you determine your shipping strategy and search engine optimization.
- Offer Free Shipping Rates – (usually just for domestic orders) is a sure-fire way to get your customer’s attention, however, depending on your margins, it can also potentially cut into your profits.
- Offer Flat Shipping Rates – This particular method of charging for shipping requires a bit of preparation as you need to figure out your average cost of shipping a package. This is a best practice you should be doing anyway to make sure that you don’t drastically undercharge or overcharge your customers.
Search Engine Optimization
- Success Tip 1: Insert Less Difficult Keywords during creating your store content.
- Success Tip 2: Visit Google Webmasters regularly and find the search queries for your site.
- Success Tip 3: Infuse the new keywords into your content to increase your search engine visibility.
- Success Tip 4: Create more and more backlinks for the site, but don’t take unfair means.
- Success Tip 5: Be socially pro-active. More and more social shares increase SEO ranking.
Step 5: Post Launch
Now that you’ve launched, the hard work begins. Our 10 tips to sell will guide you cracking your first sale is a great start point and overview of a variety of marketing tactics that will help you in your first months.
Marketing Your Store
You’re well on your way and now likely have some sales under your belt. It’s time to get serious and focused. The following post will help you zero in on some top marketing tactics for driving traffic and converting that traffic to sales.
Email marketing is the highly effective digital marketing strategy of sending emails to prospects and customers. Effective email marketing converts prospects into customers and turns one-time buyers into loyal, raving fans. So start with this marketing strategy in order to crack more deals and grow more customers.
- Every Ecommerce Business Needs a Blog. Blogging is a great way to build your audience and generate more traffic and sales for your business. You shouldn’t treat it as an unnecessary luxury. Even infrequent posts can help your business. You want traffic to your site. Blogging generates traffic for your site.
- Build an Audience and Drive Sales With Persuasive Video Marketing. If you have an online store, create a channel on YouTube and consistently put great video content around the products (or other topics indirectly aiming towards your product) that you are willing to sell without spending fortunes on the advertisement. Go for good quality videos using a good camera and a steady tripod, or with a single videographer.
- Build A Massive Following On Instagram. Instagram can be a highly-targeted, visual marketing channel for your brand and an opportunity to build a loyal audience that grows with your business. In fact, over 500 million Instagram users browse the app every day, making it home to some of the most engaged audiences around.
Building your own e-commerce business is no easy task. From choosing a product, evaluating viability and sourcing to building, launching and growing sales. There’s a lot of puzzle pieces to put together. However, following this resource roundup should provide you with a clear roadmap to help you build a profitable e-commerce business.