E-commerce, the online shopping industry, has significantly impacted the shopping and selling habits around the globe. Shopping online through retail stores has increased by 14.5% in one year amidst the total retail sales rising by just 5.4%. The figures significantly indicate the impact of the e-commerce industry.
The ubiquity of mobile phones also has a significant impact on the proliferation of the trend. Companies like AIS Technolabs and many more have contributed to the development of e-commerce websites. The result is further pushed in the world of the internet using the best e-commerce SEO company. The SEO helped the e-commerce websites and stores to reach a broader range of people promptly and boosted the trend of shopping online.
So, do you want to earn some extra bucks along with your regular job? Yes! Well, e-commerce can be your platform to live the dream of making big with consistent efforts. The process is complex and will require all your persistence and attention at the beginning, but once the seed is planted, all you need to do is reap the fruits.
To make your journey more accessible, we have compiled three steps that could help you reach the industry’s pinnacle with a great kickstart. Let’s look at the things you would need to keep in mind to start your very own e-commerce business.
Let’s get started!
3 Steps to start an e-commerce business.
1. Choose which industry and product you want to step in.
Choosing the right product can be either the hardest or the most straightforward task a person can face during the start of any e-commerce business. If you are someone with a clear idea of the product you want to sell, well, that’s a win-win. Go ahead and start your business and get to know the competition. If choosing one industry among all the others is your home headache, we have few parameters that can help filter the industries and bring out the best suits you. Juxtapose different sectors on the parameters listed below:
Price plays a crucial role in e-commerce. The industry revolves around buying products without trial or live look. So, one thing that customers probably fear is the high price range of the product as compared to quality. A product that ranges from thousands of dollars will keep the customers in a dilemma about buying it. They would love to have a conversation like a phone call, message, or another communication medium. This can be an additional cost associated with the medium. The best way to avoid the problem is by choosing a range between $100 and $200. Too little money can negatively affect the ROI, so avoid it as well.
Determine the margin you will receive on every product you sell. It is crucial as it can decide what amount of returns you will receive in a day. The industry’s margin is often around 30% to 35%, but this can change from product to product. Choose what margin you would like to work with and talk to distributors and marketers for more information.
Availability in the area
Local availability of the product heavily influences the purchase rate of the product. Look at the demographics and see the local availability of the product. This will help determine what products need to be launched in what area.
The larger the product, the more expensive the shipping. Free shipping is a must for e-commerce stores, and this can be difficult if the product is bulky and does not provide adequate returns. So, try to sell small products that do not cost much in terms of shipping. A small fee if shipping can be blended in the price or even overlooked if the demand is high.
Passion determines how you face the challenges in the industry. Be it small or big business; motivation drives a person to overcome all the obstacles. So, understand if you have the passion for keeping the industry going, know yourself and know what you would like to focus on. Knowing the product and having a keen interest can bring a different impact on the industry.
2. Find suppliers that have great offers
Once you have decided on the product that you want to sell, determine who will be the manufacturer or the supplier of the product. One product can have different manufacturers with different quotations, and these need to be looked after by the business owners. There are several ways to find the right dealer; let us look at the methods used.
Google shopping is a tool that determines what manufacturers sell a specific product on the internet. The device is confined to online selling physical goods. The tool also gives a quick insight on who resells a product; this gives a quick look at the competitors present across the market. Input the name of the product you want to sell on the Google shopping search; this will give you the list of all the manufacturers under the brand category. Make a choice from the list according to your requirement.
Another method of finding a suitable manufacturer is to browse through the directories present on the internet. The manuals give an entire list of the manufactures selling a specific product. There are several directories current on the web; here are the two worth-looking guides you can choose from.
The site has thousands of sellers and millions of products to choose from.
This site has 1400 sellers and more than 70,000 products to choose from.
Make a list of manufactures you would like to work with and check whether they are ready to collaborate with you to resell the product. Not all manufacturers are comfortable with working with new sites, so choose the one that has more minor requirements and great offers. Make connections with small retailers to boost your game to get started with large manufacturers.
3. Set up your website
Once the product and manufacturers are all selected, start working upon a website that will help you to connect with customers online. A good website will help the customers below more about your e-commerce website and will also build brand awareness promptly. You can use several companies like AIS Technolabs and others to develop the website. The websites can be further added with the best e-commerce SEO company to boost search engines’ visibility. So, where do you start? Let’s take a look at all the steps.
Choose an e-commerce platform
An e-commerce platform will be responsible for keeping track of all the aspects of the e-commerce stores like listing products, categories, checkout process, and much more. There are several e-commerce platforms present on the web, and you can choose from them depending upon what suits you the best among all. Go for the trial and error method to determine which platform gives you a good hang of the e-commerce store. Try going for platforms that allow you to customize the services as much as possible to provide the store with a personal touch.
The domain name and host
Domain names act as the address to your site. Working with hosted e-commerce platforms will directly provide you with a domain name, but if you are working with an unhosted platform, here are certain things you need to look at.
Get a security certificate. SSL certificate is essential for the e-commerce industry to improve credibility and to get recognized as an authorized site on the search engine. A security certification allows the businesses to use encrypted data of the customers. Use an excellent hosting platform to set the domain name and host it without much of a hassle.
Logo and web design
Logo helps the websites to get recognized among the crowd, and it is an essential aspect of the business. The logo allows the business to create brand awareness among the competitors. It also acts as a possession that makes a storyboard in the minds of the people.
The websites can be further enhanced by using a good web design. Web design allows the website to improve the user experience of the site. This impacts the navigation and also enhances the SEO of the website. Hire a web designer to carry on the activity in an effective manner. If you want to cut the cost of designing ready-made templates and cheap logo services can also be used.
To sum up, the e-commerce industry is all about knowing your product and presenting it to people in a manner that will boost the industry. Now that you know all the starting points go ahead and apply the information practically. Keep yourself motivated and constantly keep yourself updated in the market to keep up with the competition.
About The Author
Hermit Chawla is an MD at AIS Technolabs which is a Web design and Development Company, helping global businesses to grow by the SEO company. I would love to share thoughts on Social Media Marketing Services and Game Design Development etc.