One of the best ways to start a business and work for yourself is to launch an online store. You can sell to a variety of customers without having to invest a lot of money, and you can easily scale up as your business grows. We’ve put together this guide to assist anyone considering starting their own eCommerce business but unsure of where to start.
Market research
Using market research as a first step, you can identify your top clients and learn what could convince them to make a purchase from you. Speaking to your target audience in person, on the phone, or online is one of the best methods to conduct market research. You’ll receive priceless, practical first-hand information from this.
Source Products
You have an idea of the goods you will sell to customers, but how will you find and deliver them? It’s possible that you’ll manufacture the goods yourself. Or, you might ask a manufacturer to produce the goods for you, then you can make your purchases from the manufacturer and mark them up.
Dropshipping is also a good strategy to start with. Customers place an order on your website and the wholesaler fulfils it. The biggest benefit of dropshipping is that you don’t need to ship or carry inventory, but to avoid a negative impact on your company’s reputation, the wholesalers should offer a great level of customer service.
Identify how you will sell
Many people think that you need a website if you want to sell online, but this is inaccurate. You may sell on platforms like Facebook, TikTok, and Instagram as well as ecommerce platforms like Amazon, eBay, and Etsy.
Sell on your own website
Owning your own eCommerce website gives you total control over what you want to sell and how you will sell it. This is its biggest advantage. Additionally, since there is no commission to be paid, unlike on third-party marketplaces, you will make more money.
Also, there are many various eCommerce platforms that serve all purposes and price ranges. For instance, Shopify is a wonderful choice if you want an easy to use website that is focused on eCommerce. On the other hand, WooCommerce is an excellent option if you’re looking for a free eCommerce plugin that integrates with WordPress.
Sell on marketplaces
If you’re just starting out or have a limited budget, using a marketplace is an excellent choice for you. You may quickly reach a wide audience due to the large client base and significant marketing investments of third-party marketplaces like Amazon. A lot of marketplaces also charge additional price for logistics and fulfilment services, which frees up your time so you can work on growing your eCommerce business. We always suggest setting up your own website. However, a marketplace is a great way to test and discover if your product would sell online. Of course, you can use both ways if you want to increase sales.
List your products
It’s important to make your products sound as appealing as possible. An engaging product description and eye-catching images are required whether you sell through your website or on a marketplace to encourage shoppers to click the “add to cart” button.
It’s also important to respond to questions from potential clients regarding your products. This doesn’t only increase sales but also has the ability to improve the ranking of your product pages in search engines. Customer reviews will provide new shoppers the motivation they need to make a purchase because social proof is crucial. Reviews on product pages increase conversion rates by 3 times.
Launch your store
Launching your eCommerce store may seem a little stressful. However, if you’ve prepared well and done a lot of testing, you’ll be in a strong position to provide a wonderful customer experience. During the launch stage, make sure that your teammates are available so you can quickly make changes to your store if necessary.