8 Points to Remember When Starting an Ecommerce Business

How to build an ecommerce website step-by-step? You could actually start your ecommerce business in less than a week if you wanted. Just start brainstorming your ideas and check out these steps to starting an ecommerce business within no time at all.

Starting an ecommerce business entails a lot of hard work, but here are some hot tips to stay on top of the game. Check out these points that can serve as your ecommerce business blueprint.  Let’s dive in.

1. Zero in on Your Product for Starting an Ecommerce Business

You have to first decide on the product or service you wish to sell. That’s quite challenging, but there’s help at hand. There are plenty of ideas available on the Internet if you follow consumer trends publications.  Choose something that comes with a unique angle, check out the potential, and consider new ways of using a product.

Also take a look at your own ecommerce business ideas, some pet project on your mind that you’ve been passionate about for several years. Consider the problems in your life and the solutions you can provide, while searching for ecommerce business opportunities.

For instance, someone had a problem with styling his unruly hair on a busy Monday morning. He created a shower cap having an absorbent liner that could soak water and would rub around on your head, so that the user can style it within a minute.

2. How to Set Up Ecommerce Business? Locate a Manufacturer

Once you’ve zeroed in on your niche idea, you need to find a manufacturer for your product. You could hit a brick wall while trying to find wholesale suppliers, while considering an ecommerce business plan.

Identify the kind of supplier you need while looking for ways to start ecommerce business.

• Do you want a supplier who is also a manufacturer or wholesaler or a drop shipper who will fulfill orders of an existing product?
• Do you want domestic or overseas sourcing, like China or India? (This will affect the cost and initial investment)
• Start searching on the Internet while trying to set up an ecommerce business store.
• Check out supplier directories of manufacturers and wholesalers.
• Head over to your local library to check out manufacturer and supplier directories.

3. Create an Online Presence/Brand Name

Why do Apple products create a state of bliss for its users? It’s the brand. Good branding and online presence can give you the single most competitive advantage. Try to make a great first impression from day 1 to win more customers.

• Remember the needs of your target audience.
• Check out customer data to personalize your service.
• Share your start up story and your ideals with your customers in your ‘About Us’ page, and make them fall in love with your product even before you start selling it.

Be honest. Promise only what you can fulfill, and be sure to deliver. You may not be able to achieve the speed of Amazon.com, but create realistic and honest shipping policies.

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4. Finalize Your Site Design

A site that is efficiently designed and easy to use can convert more visitors into customers in an online ecommerce website.

Your visitors must find it easy to locate products and the checkout process should be a seamless one. Not everyone is a power shopper, some of them need hand holding and you cannot afford to lose a single potential customer.

The search bar must be functional and must have auto complete features. Offer visual clues like showcasing some items, featuring the best deals, surprise gifts and discounts and so on.

In short, your site must be eye-catching and functional.

5. Processing Orders/Fulfillment/Shipping Details

Once a visitor makes an order, you have to fulfill it and ship it to the person. For this, you need to configure the Checkout settings accordingly. You can opt for manual fulfillment or partial manual fulfillment, send emails to your customers informing them about the expected delivery date, alerts and notifications, give a tracking number, etc.

While launching an ecommerce business, decide whether you’re using FedEX or UPS or both. The charges will depend on the box weight, the size, the dimensions, whether it’s being shipped to residences or commercial establishments, the delivery zone and so on. You can customize the maps so that customers can see the transit time.

Also offer your customers different delivery time options, with extra payment for faster deliveries, while building an ecommerce business.

6. Crunch the Numbers

Crunching the numbers to set the price for your product can be pretty challenging. But the price will affect your profits and the growth of your customers.

Value your product and align the price with this. Customers usually have preconceived notions on the price of product, so you need to match it.

What is your business goal? For instance, if you want to get more customers initially, price it low. Calculate your profit margins, based on cost of the product, ads and promotional costs, social media marketing costs and soon. Analyze your cost structure and determine the price after considering all factors.

You could try a test price in the beginning and then adjust it based on customer response or just use Price Comparison Engines to track the prices of your competitors.

7. Marketing Strategy

• Define your niche market before starting out on a marketing strategy.
• Offer a unique experience to visitors with personalized options.
• Ask your visitors to share their experience. Amazon was able to attract millions of customers merely by asking them to share opinions on books.
• Design your site appropriately, so that you get repeat customers.
• Sell on multiple channels, both websites and on mobile.
• Create awareness through social media.

8. Launch Immediately

Don’t wait to create that perfect online platform for launching your product. If you wait too long, your competition will overtake you. If you have the idea, the product and the marketing strategy in place, start executing it.

You can only learn by launching your product online and then go on to make tweaks to make it perfect. But do the initial work on content marketing, paid ads, SEO and so on before the big revelation.

• Read:  The Ultimate Guide on How to Start an Online Business

Wrap Up

Launching an ecommerce business is challenging and you need to evolve on a continuous basis. Consumer tastes and behavior keeps changing and you need to move with the technology and the latest trends if you wish to succeed.

Start lean and focus on sales. You may not have the best product or the perfect website in the beginning, but you can improve it with time. Give exceptional customer service, answer customer concerns, offer a live chat and create trust in your products. Let word of mouth do the rest.

With the above tips, you could be on your way to becoming a successful ecommerce businessman/woman within no time at all.