Reaching a big success in a profitable Ecommerce business is not smooth sailing.
So, are you an entrepreneur who set the site on starting a new e-commerce business? Or are you looking to turn your business to an independent web store from an online marketplace?
Redtalkers.com has compiled a special guide included the main steps to start a productive Ecommerce business from the top especially for you!
As for statistics, in 2019, e-retail sales accounted for 14.1 percent of all retail sales worldwide. As online business is evolving constantly, the figure is expected to reach 22 percent in 2023, almost reaching a quarter of all retail sales.
1.Gain an understanding of major types of e-commerce business models
The first is first. If you are in the mood of starting your successful e-commerce learn more about the process of exchanging products online and types of online business models.
2. Select a product for an Ecommerce shop
The main step to building an Ecommerce business is to know what products you want to sell your products direct-to-consumer. This is the most complicated part of starting a new online business. Find your own product opportunities, explore the best places to look for product ideas, and finally, look at trending products to consider and drill down exactly what type of goods you want to sell:
- Physical products: clothing, shoes, home goods
- Digital products: software as a service product, e-courses, ebooks
- Services: Consulting services, home cleaning
3. Find a domain name for your website
A domain name is your online identity and public face of your brand, as you see it matters more than your online address. Find a creative, unforgettable name so that you can attract more visitors to your site and gain more traffic.
- What kinds of domain names related to your niche are easiest to remember or type?
- Which ones stand out for their originality and accurate representation of the brand behind the site?
Provide relevant answers for the given questions above before searching a perfect domain for your business
4. Choose your Ecommerce niche
In order to serve your target audience’s needs, you should have a deep understanding of your niche! No competition - no market. Bear in mind that the area that you chose should be competitive but not overly crowded. Do your fruitful research on finding your niche, make notes of the top Ecommerce products, imagery, methods, aesthetics, and etc, and utilize them in your Ecommerce business progress. Here is a useful reference to drive deeper for deciding on the right niche.
Firstly, dropshipping is a business model in which the retailer is not required to keep his products in stock but it is shipped one product from the wholesalers' warehouse to the customer. Nowadays, nearly 33% of online stores use drop shipping as their fulfillment model. So, as the merchant, you won’t have to spend funds to buy inventory, so the upfront costs are minimal. When the customer places an order, your supplier or manufacturer will fulfill the order, and you’ll get paid.
6. Be fast, active, and reliable in your services
However, today, people are quite convenient to buy products online, there is usually constant worry about scams. Providing helpful, prompt assistance to customers will be a good recipe for this disaster. So as to satisfy your customers’ needs you should:
- set up a unique customer support email
- reply to emails quickly
- write email templates
- create a chat box on your website
- save repetitive questions and create faqs
- send thank you notes
- set up a help desk
Remember that your customers are your primary wealth who trusts you, without knowing who you are on the internet, with their budget. That’s why serving customers needs to be your number first priority.
7. Make buzz in social media
As you guess, social media is the most prominent key factor to create and distribute content about products sold online in the form of reviews, ratings, and photos of the products in use as 75% of customers say they use social media as part of the buying process and 95% of online adults, aged 18-34, are most tend to follow a brand by social networking. Plus, you automatically get the ability to sell directly, on a different platform(Facebook, Twitter, Instagram, etc.)
So, if you do not start you cannot gain extensive experience and widen it. Don’t hesitate, be active, learn more, and make doors open for your successful online business! It is high time to take action towards great triumphs. RedTalkers.com is always with you and assists you!