E-commerce businesses have been booming within the last few decades. It is obvious that customers now prefer shopping online rather than going to a brick and mortar store because it is more convenient to shop online.
This is the right time for you to start an e-commerce business, become your own boss and earn profits from your home.
Setting up an online business can be an impossible task for many people, but don’t panic, there are ready-made platforms to get your ecommerce store up and running in no time and without much effort.
Once you analyze your potential business with the right tools, it will be easier than ever to launch a successful e-commerce business that will quickly generate sales.
Continue reading this post as we share with you a few, quick steps to start your own e-commerce business:
STEP 1: Laying A Solid Foundation for Your Business
When it comes to starting an e-commerce business, you need to lay a solid foundation that will allow your business to succeed online. Here are the four steps to consider in this phase:
1) Select a Product Niche:
E-commerce businesses are becoming more competitive by the day, so one of the little secrets behind building a successful online business is to focus on a specific niche.
Simply choose a specific niche that will allow you to compete with the online businesses already established in your chosen niche.
For example, if your e-commerce business is designed to sell clothing items, why not narrow your business down and focus on children’s clothing, women’s clothing or headwear?
First, you need to ask yourself these questions.
- Is the business I intend to start dependent on trends or new products?
- Am I willing to stay in business for the long haul?
- Will my business sell products to individual consumers or to other businesses?
With the right answers, you can focus your eCommerce business on a specific niche and be profitable for a long time. To ease this process, the AMZScout tool will assist you in brainstorming profitable niches that will create more wealth for your business.
2) Make Your Business Stand Out
After deciding on a niche, your next step is to plan how your business will stand out from everyone else. This will allow your business to stay ahead of the competition.
The easiest way to beat your potential competitors is to figure out what they do and don’t do to make their businesses stand out.
There are a few questions that can help you at this stage.
- What makes their business so unique?
- How do they get their customers?
- What platforms do they use for advertising?
- What is still missing in their business?
Once you have the answers to these questions, simply improve their business strategy and make your business an improved version of their business.
3) Consider Branding Your E-commerce Business
Branding your business will certainly go a long way toward the success of your online presence. Consider branding all aspects of your business – from the business name and logo, to sales and marketing copy.
It’s essential for modern businesses to consider branding your e-commerce business so that you can differentiate your products or inventory from your competitors.
The first thing you need to do is to choose the perfect name for your business, which should also be the domain name of your website.
With a quick search on the business name generator, you can find the right name that perfectly matches your online business.
4) Register Your Business Legally
Registering your business legally is one of the most important steps you must consider when setting up an e-commerce business.
You should consider registering your business in order to make money in a legal way.
Before registering your business, you need to decide how your business will operate – as a partnership, a corporation, a sole proprietorship or an LLC business.
Next, you need to register your business name in order to obtain the permits and licenses needed to operate your business legally.
This stage is critical and will save you from any legal problems you may encounter in the future.
STEP 2: Sourcing Products with Low Capital and Risk
Sourcing products for your e-commerce store will depend on the following factors: your product niche, startup capital, and your available time. You can sell your handmade products, or source products from Amazon wholesalers.
The best way to start a low-risk and low-capital online business is to consider the drop shipping option. Dropshipping saves you the burden of sourcing and shipping.
All you need to do as a drop shipper is to find profitable products, import your chosen products into your e-commerce store, and sell them to your customers.
Once an order is placed in your store, it will be forwarded to your supplier who will be responsible for fulfilling all orders.
STEP 3: Selecting A Sales Channel
After sourcing your products, your next step is to choose your method of selling them online.
You can choose to sell through your online store or other online marketplaces such as eBay, Amazon or Etsy. for development and marketing purposes, you should consider setting up your own online store, through which your customers can shop directly.
Here are the best ways to set up an online store.
Building Your E-commerce Store
When running an online store, there are several self-hosted and hosted (SaaS) e-commerce platforms that you can trust.
WooCommerce, Magento and PrestaShop are all promising self-hosted platforms that you can download and install on your hosting server, but you are responsible for customizing and handling every aspect of the store.
On the other hand, hosted (SaaS) platforms such as Shopify and BigCommerce do not require a download, installation or separate hosting server.
All of this is done for you in a single package. These platforms also provide you with easy maintenance. You can now import the products you purchase from Amazon into your eCommerce store.
STEP 4: It’s Time to Market Your Business
The first three steps have finally gotten your eCommerce business online. So far, this is a great achievement towards online success, but success is not guaranteed without any marketing efforts.
At this stage, price tracking tools are critical to analyzing your competitors. You need to get your eCommerce store in front of your potential customers by using these proven, key strategies
1) Social Media Marketing
Most people use social media platforms such as Facebook, twitter and YouTube. simply create accounts for your eCommerce business on the platforms your target audience uses most often.
Share valuable content with these audiences to create leads for your eCommerce store. Over time, these leads will begin to convert into sales.
2) Content is king!
Create special content that is helpful to your target audience to grab their attention. This can be done by writing interesting blog posts that answer your audience’s most pressing questions.
Enlighten and inspire your potential customers with photos and videos that promote your business.
3) Search Engine Optimization
Ensure your web pages rank higher on search engine results pages by using well-researched keywords and effective search engine optimization practices.
Use tools such as a keyword planner or keyword searcher to find the exact keywords your potential customers use when searching for your products online. Use these keywords to optimize your website content to rank #1 in the search engines.
Once you follow these simple steps and launch your e-commerce store, your business is bound to succeed. The next thing you need to do after creating a successful e-commerce business, is to expand.
You can consider selling your products to customers across multiple channels, or simply add more product categories to your store.
After reading this post, I hope you can get a lot of useful information for your business, if you have any questions, please contact us or leave comments below.