Do you have a physical store that you now want to integrate e-commerce to generate more sales, or you don’t have the first, but you want to plunge into the profitability of starting an eCommerce store business?
If this is your dream and you’re about to transform it into something tangible, there’s a little I want you to consider, and that’s what we’re going to bring to light today in this article.
Things are getting easier and automated nowadays with setting up ecommerce business website. Hence, the creation of your e-commerce website does not come with a lot of hassle as you can get things on your site up and running seamlessly.
However, there are some things you should be wary of, and even if you can feel discouraged in some, knowing them first is me giving you a heads up so you can know what challenges you may face and how to address them earlier as you move forward to start your own online store.
With this, you should be able to see growth in as little time as possible.
1. You Need to perform Product Research
This is one of the first things to keep in mind, probably just when the idea of starting an ecommerce store popped into your mind.
First, you need to know the type of products you are interested in selling, and also whether the products are in some demand out there.
Furthermore, the nature of the products counts a lot as they are divided into two according to their forms: digital and physical products.
A single digital product can be resold multiple times while physical items are limited, so you need to be aware of your limitations in this aspect when developing a product idea for sale as you start your own online store.
Additionally, your product category is important and while you may decide to go for a multi-product store, you should also note that narrowing your reach to a particular industry or area, will help you grow into an authority in your niche.
2. You Need To Perform a Market Research
What is the market potential for the product you will be selling?
What this entails is that when you have a product idea or a product set that you want to sell in your store, there is a need to research the potential market for the products.
This is one crucial aspect you need to be attentive to when starting an ecommerce store, and your inability to identify the right market or buyers for the items you need to sell in your online store or website will have a negative impact on your future sales.
3. Social Media is a Necessity
Sure, you can thrive in e-commerce without ever leveraging social media to grow your business, but it means you’re going to leave a lot of money on the table as you lose prospects who rely on the information they might get about businesses like yours on social media.
So having a presence on social media as ecommerce is a necessity, and while some people would like to connect with you via social media, others would rely on it for reviews and getting feedback.
In addition, social media is a great place to build brand awareness and product sales without paying for promotions, and when it comes to boosting your presence, social media Ads are very much reliable and cost-effective.
Social media can play a huge role in your success when starting an ecommerce store.
4. You Need to Stand Out From the Crowd
The e-commerce industry has huge competitions that you will have to handle, and by reducing your choice of products for sale, you’ve narrowed down the competition too. The same goes for targeting a specific location for your sales.
In any event, we will always have competition and one thing that will ensure you a fair share of the market is by setting yourself apart from the crowd or being unique.
You can stand out in various ways, this can be disclosed by the quality of your product, method of marketing, discounted prices, return policies, customer service, and a lot of other aspects.
The more people find your business as a special entity in the market, the more they are more likely to patronize you, above your competition; it’s the magic that occurs when you stand out.
5. There’ll Be Potential Trials and Errors
You can be an e-commerce expert or somebody totally new to it, and because the market keeps changing with products, customer perceptions, and expectations, there are going to be inevitable trials and possible mistakes to come in setting up ecommerce business and managing it.
The trial and error you have to make as you start your own online store can not only seem frustrating, but also make you feel you’ve wasted precious time, and stressful, but in the end, you will be able to identify through this means, what works best and serve as a road map to avoid future mistakes.
So, you should be willing to experiment with things about your store, including the type of products for sale, design your site, running paid ads targeting different groups of people and across different advertising networks and in different other sectors.
6. You Should Build an Email List
One of the most effective ways to drive recurring sales of your products is to build an email list.
Whenever users come to your website, make sure you have a plan in place to get them to join your email list.
When they opt into your email list, chances are you can make them return to your store, and probably help them see something they will be interested in buying.
Email marketing works just as well when it comes to retarget customers who have once purchased from your store before.
Considering that the money is in the list, it is important to incorporate email marketing into your promotional strategies. This will help you build a list of loyal customers when starting an ecommerce store.
7. SEO is a Necessity
Organic search traffic is one of the highest quality traffic sets you could ever get for your store.
Search engines could match you with potential buyers if you could place your site in the right position and this can only be achieved by SEO.
Search engine traffic is also free, but you’ll need to have your way across by taking advantage of ways to optimize your site for better search engine visibility.
There are three components of SEO; on-page, off-page and technical SEO.
To succeed in your SEO strategy and attract visitors with buying prospects to your store, you need to optimize your site for these three SEO components.
There you go, 7 important things you should consider before starting an ecommerce store, and of course, all can be challenging.
However, knowing these things sooner would help you put things into perspective and be resilient and committed to achieving success.
What other things do you think are critical for someone to look at before starting an e-commerce store?
Starting an online store is just like starting a normal business and here are 5 Things You Need To Know Before Starting Any Business.