In today’s world, software as a service (saas) is everywhere. This software is often accessed through the internet, and it relies on cloud computing to
Tips to Help You Start an Ecommerce Business
The eCommerce industry is growing exponentially. eMarketing predicted US consumers will spend $933.30 billion on eCommerce in 2021, up 17.9% YoY, and equaling 15.3% of total retail sales. Brick-and-mortar retail spending will grow 6.3% in 2021, to $5.149 trillion, the strongest growth rate seen since 2011.
Ecommerce sales will continue to grow at a healthy clip, reaching 23.6% of total retail sales by 2025 versus 11.0% in 2019. We expect behaviors like click-and-collect usage will continue to grow, reaching $140.96 billion in sales by 2024. (reference: https://www.emarketer.com/content/us-ecommerce-forecast-2021)
Starting an eCommerce website from scratch requires completing every element of its brand identity. Of these factors, your store’s name and trademark represent some of the most vital things. A brand persona is just like a friend’s persona the more the persona is the better we will remember them later. A good brand persona is a consistent brand persona and a good name is a name that resonates with your target audience. If you are a graphic designer there are tons of terrific design options to explore online design websites now and talk to them about a potential logo for your company. Warning! As you come up with your logo and idea about its future try to anticipate potential disadvantages.
How do I name my eCommerce business?
Picking the right name is a strategic decision and should be carefully considered before you begin your eCommerce business. It is important to consider the following points when naming a company:
- Make sure that there aren’t any existing trademarks with the same name as yours, and if so get legal advice on how to proceed.
- Consider international markets where similar names may cause confusion or problems selling in certain countries.
- Make sure that your name is not offensive in the countries where you plan to sell.
- A good eCommerce store name should reflect what kind of products or services you will be selling. It’s a chance for customers and potential investors to understand exactly what type of business it is from its name alone!
- The eCommerce Industry is ever-changing, so if you plan to rebrand in the future it is critical that your eCommerce business name can be easily adapted.
There are several methods you can consider when picking a name, for example, your business might pick a name that is unique, memorable, funny, or optimized with related keywords.
The eCommerce industry is constantly changing, so it’s important to consider that your eCommerce business name can be easily adapted if needed. However, you choose to think of a brand persona keep in mind these tips when coming up with ideas on what eCommerce store names are best for your products and services!
Determine what products or services you want to sell
Before you start any kind of business the first thing you need is something to sell, whether it’s a product, service, or even a digital download. If you’re not sure what to sell there’s plenty of research that can be done. Look at eCommerce sites like Amazon or eBay, look for gaps in the market where your product would fit nicely, and talk with friends who may have an idea what they’d buy online if it was available.
Look for a niche or product that is not oversaturated in the market. There are thousands of eCommerce websites that all sell the same thing. If you want to be successful, find a product or niche your customers care about and won’t be able to easily purchase elsewhere online.
Some popular niches include eco-friendly products, CBD, skincare products, men’s grooming products, nutrition, and wellness are all potential niches worth checking out.
Prioritize what products and services are most profitable, easiest for your team to fulfill, and create demand through marketing. For example: Don’t sell something that is very difficult for you to fulfill, like an eCommerce business that only serves a small geographical region.
Decide on a name and logo for your company
Deciding on a good name and company logo is part of defining your brand persona. Your eCommerce name should be memorable and unique, which can make it much easier for people to remember you.
Your logo should be related to your online store name and should also be memorable. You can then use this eCommerce logo on all of the marketing materials, such as business cards and online banners, that you plan to distribute to increase brand recognition for people who come across them later.
While there are several free tools for logo design we recommend hiring a graphic designer to help you create a logo. eCommerce business owners who have little-to-no design experience often make the mistake of going for an amateurish-looking eCommerce logo that doesn’t effectively represent their brand as a whole.
In addition, if the graphic designer is talented they can give your company name and eCommerce logo some added personality to catch your eCommerce customer’s attention.
You can also check out freelance sites like Fiverr for logo design.
Register an eCommerce domain (and hosting)
Once you find the perfect name it’s time to register your domain name and get hosting. Here is the thing, not all hosting companies are created equally. So what to look for when finding the best hosting? Of course, starting out you will have to consider costs but we recommend focusing on finding a hosting company that is easy to use and has super-fast servers, Having a fast server will increase your website loading speeds which is very important to SEO and customer experience.
While you may be considering companies like Godaddy you may what to do a little research first. Godaddy is a great company with a lot of benefits to using them, however, when it comes to server response times they are not at the top.
Create a website with eCommerce functionality
Creating an eCommerce website can be a tough task depending on your technical skills. However, there are eCommerce website platforms that you can use to create your online store without having advanced knowledge of web development. WordPress eCommerce plugins are one option for eCommerce websites using the WordPress platform. Shopify and Big Commerce are also popular e-commerce solutions among beginners with their pre-made templates, drag & drop tools, etc…
When creating your website you want to focus on functionality and design. Your eCommerce site should be intuitive and easy to navigate for your customers. Also, try having a variety of options available on the e-commerce website platform you use; this way it will feel like there are many different choices to make while shopping with you online.
I want to emphasize the importance of the design and functionality of your website. eCommerce websites are often more about the customer experience than they are technical prowess. Make sure that think about website conversions and how your design and functionality can drastically affect the success of your online store.
Choose an eCommerce platform like Shopify or WooCommerce
Choosing the right platform is another important factor to consider, the reason is depending on your goals one platform may have options you need that others do not. Some of the more popular platforms are WooCommerce, Shopify, and Big Commerce. These are all good options depending on your specific needs and addons you might need, so consider carefully.
Shopify is an eCommerce company that many use, so this will be an easy one. Some of the benefits of Shopify are that it’s relatively easy to use, especially for someone who doesn’t have eCommerce experience. Shopify also has a lot of integrations and apps that can help you customize your online store, which is something that WooCommerce and Big Commerce don’t offer.
You can get Shopify starting at $29.00 per month and plans up to $299 per month depending on your needs.
WooCommerce is an eCommerce platform that can help you easily create an eCommerce site and start selling products online. WooCommerce is free and open-source (which means there are no costs to set up your eCommerce site). It also has a lot of integrations and apps that can help with customization. With WooCommerce, it’s easy to offer recurring payment plans with services like PayPal subscriptions. You also have options for real-time shipping rates with services like UPS and FedEx. WooCommerce offers support for stock control and inventory management and the ability to ship internationally.
You can use WooCommerce for free however they do have addons for purchase such as themes, extensions, and more. But these are generally a one-time payment, so once you buy it you’re good to go.
Big Commerce is an eCommerce platform that makes eCommerce accessible to both new and experienced eCommerce entrepreneurs. It’s free to get started with Big Commerce. One of the other big benefits is that no transaction fees are depending on which plan you choose, which is great if you’re not sure how successful your store will be. You can also get help from their team of eCommerce experts. They also have online marketing resources included in the monthly fee, including SEO services and promotional e-mail campaigns.
Big Commerce pricing plans start at $29.95 up to $299.95 depending on your online store needs.
Find suppliers who can provide quality goods at competitive prices
If you start an online store or online business chances are you will need a supplier or drop shipper for your stock. Of course, this is if you are not manufacturing your products. It’s important to find a supplier that is reputable and has competitive prices. You don’t want to spend a lot of money on wholesale items and then mark them up for sale.
You will want to do plenty of research before you start this process. One of the best ways to do that is by using Google search and typing in ‘wholesalers’ or something similar. You will want to look for companies that have an address, phone number, and email so you can contact them directly.
Finding a reliable supplier may take some time but it’s well worth your effort.
- Find suppliers who can provide quality goods at competitive prices.
- It’s important to find a supplier that is reputable and has competitive prices.
- You will want to do plenty of research before you start this process.
- One of the best ways to do that is by using Google search and typing in ‘wholesalers’ or something similar.
- You will want to look for companies that have an address, phone number, and email so you can contact them directly.
Finding a good dropshipping partner is a bit easier but the margins are not as good as going directly to a supplier.
You will need to do plenty of research as well as look at their track record and reviews online. You can also ask for references from other people who have used them in the past so you don’t get stuck with a bad supplier or dropshipper.
Here are a few popular dropshipping options to consider
These are just a few you can look at if your looking for a dropshipper, but of course, it also depends on what niche you are going into.
Use social media to promote and market your eCommerce business
Social media is a great tool to help promote and market your new online store or eCommerce business. Businesses have used social media for years to gain awareness and engage with their consumers, but eCommerce businesses can benefit from using it in a new way – often times eCommerce stores will use the platforms as a sales tool instead of just branding or engagement.
- Make sure your eCommerce store is listed on Google My Business and Bing Places. Having a listing for your eCommerce store on these platforms will help increase the organic chances of consumers finding you online
- Utilize Facebook to post-sales, promotions, and discounts that are exclusive only to eCommerce customers. Creating targeted ads where eCommerce users can take advantage of special offers or deals is an excellent way to gain more eCommerce traffic
- If your eCommerce store has a blog, use it as a way to engage with your eCommerce consumers. For example, you can write articles about tips on how to properly care for certain items or give eCommerce users some insight into the company’s history and mission statement. Social media is great because it allows eCommerce business owners to directly get in touch with eCommerce consumers.
- Utilize Instagram as a tool for engagement with eCommerce consumers. Post images of your eCommerce store or products, behind-the-scenes photos and videos, as well as relevant hashtags to help reach a wider audience
- Share eCommerce content on Pinterest! Try pinning eCommerce coupons or product information for some extra engagement with your eCommerce users
- LinkedIn is great for eCommerce business owners to connect with other eCommerce users and marketing professionals. LinkedIn groups are the perfect place for eCommerce businesses to engage with like-minded online store owners or eCommerce marketers
- Twitter can also be a great platform for eCommerce consumers, as it allows them to interact directly with each other about products they love – you never know when someone will start a trending eCommerce topic that you can jump in on!
- Finally, don’t forget about Google+ eCommerce business owners can use it to share content and gain eCommerce traffic. Again, make sure your store has an eCommerce listing so users can find you more easily online.
It will take some time to figure out what’s gonna work best for your business but using social media is a great way to get started.
Stay up to date with eCommerce news, trends, and updates
It’s important to stay updated on what going on within your industry so you don’t fall behind. eCommerce business owners need to be on top of their game at all times or risk losing out to bigger competitors that are dominating the market.
You can easily keep up with eCommerce news by regularly checking industry-related magazines, blogs, and websites online. There are even eCommerce newsletters available for those who want a daily eCommerce news update.
In addition to online resources, you can also tune into eCommerce radio shows that are available both online and on the airwaves as well as eCommerce TV channels if you prefer a visual learning method instead of reading articles all day long.
We have compiled a list below with some great eCommerce websites for those who want to stay in the eCommerce know and start an eCommerce business.
Being able to understand what’s going on within your industry, current trends, and eCommerce news will help you stay ahead of your competition. It’s also very important for eCommerce business owners to know who their target audience is, how they are using eCommerce platforms to shop online, what products or services would benefit them the most, etc.
Stay up-to-date on eCommerce news by regularly checking industry-related magazines, blogs, eCommerce newsletters, and eCommerce radio shows. You can also tune into eCommerce TV channels if you prefer a visual learning method instead of reading articles all day long.
Measure everything! Track traffic sources, conversions, customer retention rates, etc
When we say measure everything, we mean everything! Tracking your traffic, conversions, and customer retention is a vital part of your success as an eCommerce business.
Traffic: You can track traffic by using Google Analytics or another analytics tool to measure your site’s conversions and traffic sources. – Customers: Keep track of customers from the very beginning! A great way is through email marketing software like MailChimp, which automatically tracks when someone signs up for your list as well as when they open and click your emails.
Conversions: eCommerce businesses should always be on the lookout for new opportunities to increase their conversion rates through A/B testing, calls-to-action, etc. By optimizing these elements of your eCommerce business you can boost sales.
Customer retention: Know how many customers return to your eCommerce business and how often. You can use a tool like a cohort analysis to figure out which customers are most profitable, or least likely to leave you for a competitor’s eCommerce store.
Find out what works best for your eCommerce business and what doesn't
Starting an online business does require some trial and error, of course, you can cut that down by learning as much as you can before going live. Once you get started you will start seeing what works best for your eCommerce business and what doesn’t. You can then adjust accordingly to maximize profits while minimizing expenses.
Finding out what works as quickly as possible could make a world of difference in how quickly you become successful and profitable. This can be anything from marketing to what automation platforms you choose to work with.
When you find something that isn’t working well you have two options to either fix it or eliminate it. This is one of the most important lessons you can learn for eCommerce business owners so that they are not stuck with things that will cost them money but don’t move their business forward.
Adjust your online business marketing strategies accordingly
Your marketing strategy for an eCommerce business is different than that of a brick-and-mortar store. You need to be creative about how you market your product online because the internet just isn’t like doing it in person.
Here are some tips to help you adjust your eCommerce marketing strategies accordingly:
- Use social media platforms
- Promote specials
- Use eCommerce search engine advertising
- A/B test your eCommerce website pages
- Be on the lookout for new eCommerce online marketing techniques.
Yes, there are a lot of different ways to market an eCommerce business online! It can be hard to keep up with all these strategies without getting overwhelmed.
Digital marketing requires a bit of trial and error, but once you find what works you can put more focus on those strategies and work to improve them over time.
As eCommerce online marketing strategies change, you must stay up-to-date with the latest and greatest!
The most successful eCommerce businesses do know how to keep their finger on the pulse of digital marketing trends and adjust accordingly as necessary. If you don’t want to be left behind, you need to make eCommerce online marketing a priority.
If eCommerce online marketing is done right, it can help your eCommerce business grow and thrive!
Be original, unique, and offer something others don't!
You may be tempted to copy other eCommerce businesses and it can prove effective to some extend, however, you do need to find a way to be original and unique from your competitors. Focus on what makes your eCommerce business different and then do everything you can to promote that difference.
Be sure to offer something others don’t and provide more value than the other eCommerce businesses in your niche. Do this by offering things like:
- free shipping (a very popular incentive)
- discounts for first-time customers
- free samples or trial periods of your product with a paid upgrade if the customer is satisfied
Offering things like this will help ensure customers return to buy from you again and even send new eCommerce shoppers your way. Therefore, it’s important not only to be different but also to offer more value than others in your eCommerce niche does.
I am sure you have heard the term “unique selling position” before, which basically means the unique value a business offers. So make sure you take your eCommerce business seriously and focus on developing this position from day one to avoid being just another eCommerce store online.
In short, be different! You will then have an easier time standing out from all of those other eCommerce sites that look the same as yours.
Outsource what you can for your online store
Whether just starting out or have been running an online business for a while outsourcing might be a very useful tool for your company.
Here are some tips to help you outsource eCommerce business tasks.
Outsource what you can – don’t forget that outsourcing is also used for eCommerce businesses to have more time doing the things they aren’t good at or enjoy as much. This does not just mean giving up on your own dreams, but consider eCommerce business tasks that you find hard to do or don’t have the time for.
- eCommerce solutions can be outsourced so your eCommerce business will run more smoothly and without a lot of stress from day-to-day operations.
- If there are certain eCommerce functions you aren’t doing well, consider outsourcing them to eCommerce experts that can do a better job.
- eCommerce outsourcing is great for eCommerce projects that need extra help or you want to get done quickly and accurately so your eCommerce business has more time on important things like marketing, product research, building new products, etc.
Outsourcing can help you keep costs down, increase efficiency and productivity as well as expand your eCommerce business to new horizons.
Typical eCommerce businesses outsourcing tasks:
- customer service
- order fulfillment
- website design
- content management system
- eCommerce software maintenance
If you are interested in exploring outsourcing you can reach out to MySource Solutions, which provides outsourcing to many eCommerce businesses along with many other types of companies.
You can reach them via email at firstname.lastname@example.org or call: 844-468-3330
In conclusion, starting an online store or online business can be a great way to earn money and get material goods without leaving the house.
If you’re interested in e-commerce, consider following these ten tips to help your eCommerce business grow. Good luck!
As an online shop owner, it is very easy for customers to buy from another store when they are not happy with their purchase or if there are any problems throughout the eCommerce process.
A great e-commerce business will have a good reputation and is easily accessible online so customers can keep coming back for their eCommerce needs again and again.
Successfully running an e-commerce store does not happen overnight, but with enough hard work, you are likely to succeed in your eCommerce venture. eCommerce is not for everyone, but if you’re willing to put in the work and get your e-commerce business off the ground then there are great opportunities out there. Focus on customer satisfaction and find a niche that people want or need so they will be more likely to purchase from your eCommerce store again.
The best advice I can give eCommerce store owners is to be patient. eCommerce takes time and you have to work for it if you want your e-commerce business to succeed long term.
- How do I name my eCommerce business?
- Determine what products or services you want to sell
- Decide on a name and logo for your company
- Register an eCommerce domain (and hosting)
- Create a website with eCommerce functionality
- Choose an eCommerce platform like Shopify or WooCommerce
- Find suppliers who can provide quality goods at competitive prices
- Use social media to promote and market your eCommerce business
- Stay up to date with eCommerce news, trends, and updates
- Measure everything! Track traffic sources, conversions, customer retention rates, etc.
- Find out what works best for your eCommerce business and what doesn’t
- Adjust your online business marketing strategies accordingly
- Be original, unique, and offer something others don’t!
- Outsource what you can for your online store
Knowledge process outsourcing is a business model that has become more popular in the past few years. KPO is about knowledge management, knowledge transfer, knowledge
The up-sell and cross-sell strategies can be used to increase revenue in many ways. They allow for a higher average order value, more products sold
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