E-commerce business is such a hot topic in this growing digital world. Many businesses are selling their products online and earning great ROI. Some people sell their products via e-commerce platforms such as Amazon, Flipkart, Myntra, etc and some people build their own e-commerce venture for the long-term.
E-commerce is one of the biggest marketplaces in the internet world which is expected to grow by 120% in upcoming years due to the number of internet users are increasing significantly day by day. Around 60% of people love to purchase products online.
For example, due to the covid-19 pandemic, many people started their business online and generated great revenue by selling various products such as baby products, food and beverage, jewelry, and many more.
Most people always say that there is a lot of competition with online e-commerce businesses but without competition, there are no businesses. So Ecommerce is all about execution. if you want to be no 1 in the e-commerce industry then you have to work 3 times harder than anything.
Let’s take the example of Mr. Jeff Bezos who is the founder of Amazon. He always believes and has faith in the e-commerce world first he started with an online book store and now he is running the biggest e-commerce business in the world. He also believes that never stops experimenting in online businesses.
So as the world is moving online and if you want to make your business online then e-commerce is the best way to start.
There are several things which needs to be taken care of while starting an e-commerce store, below I will share the 5 easy steps to start an e-commerce business:
Step 1. Select the product you want to sell
The first step in the e-commerce business is to think deeply about what product is in demand and survey what people love to buy. The AIDA model plays a huge role in the e-commerce industry i.e Awareness, interest, desire, and action these are the 4 major factors that you need to keep eye on for getting profit in the e-commerce industry.
- Awareness: For any business, awareness plays a major role because every brand or product creates awareness in front of the customers.
- Interest: For interest, you should know how to get attention from your customers. For that try to create social proofs and online reputation. For example, customer ratings, reviews, websites, etc.
- Desire: For desire, you can offer discounts, offers to your customers or you can create more information about products.
- Action: Once all the activity is done, the customer gets convinced and takes an action to avail of your product and services.
Try to apply the AIDA model for selecting products because this is the golden rule for the online business. On the other hand, you have to learn the basics of analytical and digital skills such as keyword research, SEO ( Search Engine Optimization, Automation, CRM ( Customer Relationship Management), etc.
There are four tools for keyword research:
- Keywords everywhere
- Google Ads
- Keywords planner tool
So after doing keyword research, try to rank those keywords on google for better performance and ranking number 1 on google. These are the best practices for starting an e-commerce business and selecting the right product to sell.
Step 2. Selecting the right platform to sell
There are various platforms where you can sell products online such as:
- Ecommerce Platforms: Amazon, Flipkart, eBay, Myntra, etc
- Ecommerce Websites: Shopify, Magneto, WordPress, Woo-commerce, Big-commerce, etc.
- Social Media Platforms: Facebook, Instagram, Whatsapp, etc
These are the online platforms where you can start selling your products. But according to my perspective, if you’re new to the e-commerce business and want to start it from scratch try to create an online presence first.
Amazon is the best way to start selling if you’re a beginner because amazon provides you many things such as FBA ( Fulfilled By Amazon) where Amazon takes care of your products and they only ship your products with a shipping partner.
Now if you’re getting many sales then it’s time to create your own e-commerce website from Shopify which is the best platform to make your product as a brand. Creating a website on Shopify will help you to boost your sale two times more than what you are selling and also help you to create your personal brand.
Last but not least, you can also sell your products online with the help of social media platforms. For example, if you have a product and you want to create awareness about that particular product you can run Facebook and Google ads also you can promote your products on Instagram with the help of influencers.
So selecting the right platform will help you to get more sales depend upon your product and budget.
Step 3. Quality over quantity
Images, bullet points, descriptions, reviews, pricing, and ratings will always increase your sales on Amazon as well as on Shopify. Let’s understand each and every prospect in an easy way.
- Product Images: If the product images are of high quality then it gives customers a clear look at the original product and helps them to decide whether product quality is good or bad.
Tips to remember: Product should always have a white background with the RGB value of (255, 255, 255), Product image should not be a blur, Always have a high-resolution image, use infographics to attract customers.
- Pricing: Determine your cost depending on your product, Use amazon automated pricing tool to understand and analyze the cost of the product.
- Bullet points: Try to provide as much information about the product with the help of bullet points.
- Customer reviews and ratings: 90% of customers made their decision from looking at the reviews and ratings. So always ask your customer for feedback.
If you want to run a successful e-commerce business then always go for the quality.
Step 4. Choose the right shipping partner
Choosing the right shipping partner is important for your e-commerce business. There are two types of packaging i.e FBA and FBM.
FBA means fulfilled by amazon where Amazon will take care of your products and is FBM fulfilled by the merchant where we have to ship, pack, and delivered the product.
Both have various advantages and disadvantages but there are few things that you have to keep up in mind i.e budget, branding capability, amazon guidelines, shipping should be fast, reputation, reliability, tracking the product, packaging, loading, and unloading.
Few delivering partners that you can do a tie-up with:
- com express
Choose the best shipping partner to depend on your requirements for delivering the products on time.
Step 5. Retargeting brings positive results
After doing everything try to keep eye on the analytics also because many people ignore this term and shut down their business.
Google Analytics is the best way to analyze and tracking the customer. Whenever anybody purchases something from you then you have the data of that particular person and you can easily retarget the customer for new products. Sometimes customers want to buy the product from you but due to some reason he/she doesn’t buy then at that time you can convert the lead to the customer with the help of retargeting.
You can do sponsor ads, headline ads, product display ads, and many more to retarget the customer. Try to understand CPC (Cost Per Click) and CPA (Cost Per Acquisition) both play a major role in the e-commerce industry.
If you’re ready to launch an e-commerce business then get ready to get an exciting journey. So these are the 5 easy steps to start a profitable e-commerce business.
Here are some benefits of selling online:
- You get more exposure
- 1.84 million users shops online every month
- You can also do affiliate marketing or dropshipping.
- Substantial income
- Easy to start
- 24*7 business process
- Huge business reach
- Sell anything from anywhere
This is how you can set up your e-commerce business with lots of benefits and greater security.
Thank you, I hope it helps