How to Launch Your Own Ecommerce Site

The eCommerce business model uses online resources to allow customers to easily purchase items online. this Types of business models The past decade has seen tremendous growth.

Over the past 15 years, major global brands have been actively selling their services and products online. In mature ecommerce markets like the US, ecommerce is an ever-dominant presence in the retail space. According to the Commerce Department, in the second quarter of 2022, the share of e-commerce in total US retail sales Sales stood at 14.5 percent. The e-commerce market can easily grow from $3.3 trillion to $5.4 trillion by 2026.

Like many other types of online businesses, eCommerce businesses offer many opportunities. However, to be successful, an entrepreneur must understand how to launch an ecommerce store the right way. This article will tell you what to do to launch your eCommerce store.

Why Ecommerce Works

The best part of an online business is its practicality and flexible nature. Many online businesses can be started from home. This flexibility makes it easier for the business owner to grow their business without taking huge financial risks involved in building an offline business. Although with most e-commerce businesses, inventory is required, you don’t need to fill an entire store with merchandise like you would in a traditional retail store. This means that most e-commerce stores can be launched for a fraction of the cost of other types of businesses

Ecommerce stores can also be run at low cost. The cost of running an ecommerce store can be as low as free. Although the average cost is between $80-$250. Lower operating costs often mean lower prices. And with low prices customers are looking for a good deal. 75% of Americans say They shop online at least once a month.

This trend towards online shopping is driving the eCommerce world.

How to Start an Ecommerce Store

Carve out your niche

At the beginning of the whole process, suppose you already know what you are going to sell online. The real focus needs to be on how you are going to sell it and how you are going to reach your potential target audience. Your management approach needs to be unique, otherwise, you’ll be lost in a sea of ​​consumer brands without the big budgets of high street brands.

Choosing a niche is an important part of the process of starting any online business. Many times, online businesses do not succeed because the entrepreneur has chosen the wrong niche. You are not sure how to find the right one niche for your online business, Check out an article we wrote about how to do this here.

Set your price point

Arguably one of the main things that will determine if your product sells online its price. Without explicit statement; If it’s too expensive, you may be pricing yourself out of the market. If you’re too cheap, you probably won’t last long as a business. The best way to find that midpoint is to do market research across your competition.

This way you can get a better idea of ​​the market you are about to enter. In an ideal world, you should have a profit margin of 30-35% to allow you to post healthy revenue and also allow you to scale the business over time. This margin will also be determined by the industry you are working in, so it is imperative that you do your research.

Finding your builders

Not everyone builds their products at home, even if you’re working from home. Therefore, it is imperative that you select manufacturers, availability, and shipping costs before building your site. These can make or break your dreams before you even start because they need to be factored into your overall cost per product and will affect your top line.

Finding online builders is a tough game so you need to be prepared to do your research. Sites like IndiaMart, Alibaba, ThomasNet, and Bambify are good places to start. Take your time making your decision and don’t be afraid to try our different manufacturers to find the right one for you.

Build your platform

Once you understand your market and the services/products that will help you grow your business, the next step is to build your eCommerce platform and get the right hosting package for you, including everything that comes with your new business venture. Here’s a run-down of what you need:

–Choosing an eCommerce Platform – There are numerous platforms where you can create an eCommerce store. Some of these are Shopify, Wix, WordPress, Woocommerce and Squarespace. Research each to see which one will work with your ecommerce vision.

–domain name – make sure it stands; It is easy to read and is a great representation of your product/s and brand

–Logo and website– Again, this has to represent your brand to your target market so make sure it’s something you’re proud of and can work on for years to come.

–hosting – Find an affordable hosting package that will give you a stable platform to sell your products online.

Start marketing your business

Like any other business, an ecommerce business doesn’t succeed unless you get the word out.

• Have a blog on your site– Having a blog on your ecommerce platform is a way to get information about your products by offering informative content. For example, if you want to build an e

Start marketing your business

Like any other business, an ecommerce business doesn’t succeed unless you get the word out.

• Have a blog on your site– Having a blog on your ecommerce platform is a way to get information about your products by offering informative content. For example, if you want to create an ecommerce site that sells herbal teas, you can use a blog to provide information about herbal teas. Use the blog to educate your audience as well as answer any questions they may have. You can use blog content on your website’s social media platforms
• Pay-Per-Click (PPC)-This is a type of advertising where you pay for every visitor you get. The simplest and most popular PPC platform is Google’s AdWords
• Social Media Advertising-Social media ads are ads on social media platforms that are shown to users of that platform. Unlike PPC advertising, most ads are based on impressions, not clicks. The most popular advertising platform is Facebook Ads. However, Instagram is also another effective platform. Platforms that act as search engines like Pinterest and YouTube are a great way to get the word out.
• Influencer Marketing-Influencers are people who can promote your product to their fans and followers. Influencer marketing is driven by those who know how to present your products to their audience in a way that will result in sales.

Conclusion

With a little research, hard work and enthusiasm, a small ecommerce business can grow into a big business. Although there are more than $9 million ecommerce sites in the US alone, there is still plenty of room for newbies. Take these first few steps to see if an eCommerce business is right for you.

This article was first published in October 2017 but has been updated and expanded.

Article Tags:

Business Opportunities · Customer Acquisition · Featured · Grow Your Business · Technology

Article Category:

Business Models · Find Your Way · Grow Your Business · Product Development · Sales · Technology