While it’s great to embark on your new eCommerce business with lots of big ideas, we suggest putting aside your ambitions and focusing on the most practical steps of your eCommerce business plan first.
For starters, you really need a simple online medium to sell your products.
A basic store template on a reputable platform like Shopify serves this purpose perfectly well.
The key is to launch quickly and start thinking of ways to generate sales through eCommerce marketing.
This will eventually breed the opportunity to improve other things along the way.
And once you’ve started your eCommerce business, use this handy checklist to ensure you covered all the right steps:
If you’re totally new to the world of eCommerce you might be wondering just what exactly you should be selling.
In actuality, you have to be strategic in identifying a set of products or a niche that is trendy, or not so easy to find in stores or on popular eCommerce websites like Amazon.
That’s why going the generic route and opting to sell books or jewelry will likely lead to a dead end.
Instead, you’ll want to go with more specific items that appeal to a particular audience.
We suggest starting by making a list of potential products you might like to sell in your store.
Think about things that you, your friends, coworkers, or your family would be interested in.
Also explore social selling sites like Pinterest, Etsy, or even Instagram for more input on what to sell.
really is inspiration everywhere once you start looking, and you can always
verify whether your product ideas are any good by searching for them on Google
At this point, you might also be wondering how exactly to source your products, and that’s where drop shipping might come in as a viable option for your eCommerce business plan.
Dropshipping is an increasingly popular business model among entrepreneurs because it has substantially lower upfront investment costs and is generally a lower-risk alternative to more traditional eCommerce business models that require you to find suppliers and stock inventory yourself.
Once you have chosen your products and done your competitor research the next thing to do is build your store.
Choosing eCommerce CMS tools like Shopify can make setting up your store easy.
They have lots of templates to start with and an easy-to-integrate eCommerce platform that doesn’t need development support.
Choose a theme that suits your target audience and prices that reflect the success you envision.
Naming your eCommerce business something memorable will guarantee that people will remember your name.
This goes for your logo also which can be as colorful or creative as you want it to be.
When your website is ready to start taking orders to remember to try a test order yourself to make sure the process is smooth for the customer.
Alleviate any additional steps needed to buy something online and only ask for information that is necessary for the check-out process.
After you’ve launched your store, concentrate on eCommerce marketing 110%.
Anything else can wait until you’re sure you can generate traffic and reach potential customers.
The secret to eCommerce marketing is to find the right channel for your products, and then to perfect your marketing strategy until bringing in one new customer costs less than what you earn from a sale.
Also, make sure you reinvest all of your profits into your ads.
This isn’t the time to pocket all your earnings.
Keep a close eye on the relationship between profits earned and money spent on eCommerce marketing by checking your advertising ROI twice a week at a minimum.
Ideally, do it daily.
Sell products that have high enough markups to cover your marketing expenses on a consistent basis.
With this knowledge and inspiration, you can apply new strategies to your own eCommerce business.
When it comes to assessing the performance of your eCommerce marketing efforts, test your advertising campaigns instead of your product pages.
This will keep you from getting bogged down trying to analyze and change all of the small details of your store.
Just focus on advertising and marketing, not the ‘buy’ button on the product page.
While much of the advice about how to start an eCommerce business seems easier said than done, it certainly helps to have a clear idea of the first steps including launching a simple store and dedicating your energies to eCommerce marketing.
* Another option for your online store:
Magento is a starring eCommerce platform, states as open-source.
It gives complete power over an eCommerce website and allows unlimited space for growth and advance.
One can create an empire on Magento, you could say.
The Magento community is filled with developers working hard to give updates and new integrations for business growth.
But when it comes to customizations, any company needs to make sure that it has dedicated Magento developers who are professional and have the company’s best interests in mind.
To summarize a few key takeaways from this guide as you develop your own eCommerce business plan, start lean, and set all other things aside to focus on sales.
Don’t worry about having the perfect product or the best-looking web design for your store in the beginning.
Jump in and learn by doing.
Hopefully, this has helped you to understand how to start an eCommerce business.
You’ve got everything you need at your fingertips to make this the year your store takes off.
** Dropshipping and the COVID19 Coronavirus
Our friends just interviewed two dropshipping experts that were on the ground in China during the outbreak of coronavirus, when manufacturing and shipping are likely to be back to normal, and steps to take in the meantime.
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