You probably haven’t heard much about Amazon Prime Day, Cyber Monday, or even Singles’ Day in China. But what about Black Friday? Those are just some of the events which use crazy discounts to catch people’s attention. That has caused e-Commerce business numbers to drive through the roof.
Did you know that 2.05B people globally enjoy the convenience of e-Commerce through online shopping? It only keeps getting better — by the time we get to 2021, that number will have hit an all-time high of 2.14B.
These figures spell out the vast potential in e-Commerce?
You can have a piece of the e-Commerce pie too.
But what do you stand to gain from joining the e-Commerce space?
- If you are looking to reach more than your local customers, e-Commerce will offer you a global reach.
- If you want to avoid the limitation that comes with time and allows your customers to access your products or services 24/7, e-Commerce is for you.
- You don’t have to break the bank to start your online business. Remember, you don’t need to invest in a physical store or employees.
- The digital nature of e-Commerce will allow you to gather important customer data that you can use to help increase conversions.
- e-Commerce is about convenience. With an e-Commerce website, customers can get timely responses and support.
Step by Step Guide on How to Start your e-Commerce Business as a Beginner
When we think of starting a business, we rush into registration and, in the case of e-Commerce business, building a website. But should that be your priority?
Here are some steps you need to consider first:
Choosing a Product
Product research is where you need to put a lot of effort. If you get your product wrong, you will be setting yourself up for failure.
When doing your product research, consider the following:
- Know the finer details of your target customers; from what they need to what problem they have that you would like to solve.
- Choose a niche that is specific, unique, and competitive but not saturated.
- Source your product by either making it, having it manufactured, or buying it, in wholesale, and reselling it. The other option is Dropshipping, where you can sell products without stocking them yourself.
Setup Your e-Commerce Business
Once the fundamentals are in place, proceed to set everything up. What you need to do at this stage is:
- Choose a simple but unique name for Your Business. It should give a good representation of your business. Once you have chosen a name, swiftly register your domain to keep competitors from stealing it.
- Create your business logo. Do a good job here because this is what people will associate with your business. At first look, a customer should tell from your logo what your business is all about.
- Build an online store. It is no longer a reserve for IT gurus. You don’t need to know how to code to do it. An e-Commerce website builder and a few clicks are all you need, and you will be good to go.
Establish Your Brand
The E-Commerce Business space is very competitive. If you are looking to succeed in this space, you have to be ready to rise above the noise, capture your target customers’ attention and convince them why your shop is their best bet for their money.
How best do you do that if not by branding?
A good brand will build trust among your customers, making it easy for them to become loyal to your online business.
Start you e-commerce Marketing
Now you have your perfect e-Commerce store, and it’s not time to relax yet. Let’s now get some sales.
To get sales, you need the traffic to flow in the direction of your online store.
Your strategy here will include targeting three classes of people:
- Those already looking for what you have to offer
- Those who would want what you are offering if they knew of its existence.
- Those who are aware of your business existence and have already made a transaction with you.
The best way to reach those looking for what you have to offer is through SEO, content creation, and search engine marketing.
Approach those that need to know about your product’s existence using brand awareness. Create attention around a solution for a problem they have but don’t know it yet, or an alternative solution if a competitor is already offering one.
Once you start making some sales, those customers become your third target. For this class, strive to have a direct line of communication with them.
Creating a successful online business for the first time is no mean feat. One step at a time, however, and you will realize it is doable. Start by applying what you already know and tweak it as you go to get the most out of your investment.