How To Do Ecommerce Business
From start to profit: this is how you build an e-commerce shop and make sales
Starting an ecommerce store to make money online is becoming increasingly popular.
If you're going to take action and start your own ecommerce store, you may not know where to start.
If that sounds like you - take a deep breath and relax.
In this article, we're going to cover the steps for building a profitable ecommerce store.
We're going to take a close look at how you can build an e-commerce shop. But we also deal with the strategies to generate sales.
When you've read this article, you will have a template that you can use to build your profitable ecommerce store.
Decide what to sell
You don't have an ecommerce store if you have nothing to sell.
So you have to decide first what you want to sell.
You can approach this challenge in two ways.
- You create something that satisfies your own needs ’.
- You take something that already exists and you improve it, and you also market it better.
In this post, we're going to focus on option two - develop something better and market it better.
This option is easier for beginners because you minimize the risk.
You don't have to do so much market research because you already have proof of the product's success.
Let's take a closer look at this process.
The niche of your choice depends on your own experience.
Ideally, you want to work with a niche that you know your way around, as you will then know better the market you want to sell to.
This is important because you have to write copywriting. If you want your text to be good, you need to tailor it to your target audience.
So let's just say I want to open an ecommerce store selling high quality notebooks ($ 20 or more).
First I have to know what is currently being sold.
I can find out by looking at Amazon - the king of ecommerce stores.
When I enter “notebooks” I see products. I set the price range at $ 25 to $ 50 to narrow the results. I also sort the page by “average customer rating”.
Now I can go through the page and take a closer look at any products that look interesting.
In the screenshot above I find a “whiteboard notebook” that I would like to take a closer look at.
Here are a few more suggestions that you might find interesting.
It looks like the best notebooks have high quality envelopes and thicker paper. In addition, their design has a specific theme.
Here is the description of one of the notebooks I found.
Now we have found some inspiration.
Now we have to find out where we can get such a product.
For many people in the ecommerce field, the best way to source products is through Alibaba.
Alibaba is a good place to start, considering it has placed 12.7 billion orders in the past.
With Alibaba you can find suppliers for an incredibly wide range of products.
Go to Alibaba.com
We have to enter a suitable keyword.
Let's stick with the previous example: “high quality notebooks”.
As you can see, it shows a list of suppliers who all offer a different type of notebook.
So we have a good chance that one of the first companies I find can meet my requirements.
So I have to contact some of them to see what they can do for me.
But before you do that, it is very important to know exactly what your requirements are.
Otherwise you will waste the time of everyone involved, because the prices depend on the specifications.
And if you change the specifications, the prices can change dramatically - you don't want to find out something like that at the last minute.
So make sure you know exactly what you want, beforehand.
With the notebook, I have to clarify that the provider can produce notebooks with the right paper thickness and the right number of pages.
Also, I need to find out if they can use my design for the book covers.
It's good that Alibaba makes it easy for its customers to take the necessary care when it comes to the providers listed on the site. You can often find statistics on the product pages.
Here is the information on one seller who could be a suitable notebook supplier.
The symbol at the top left shows that he has been a "Gold Supplier" for 6 years.
At Alibaba, the designation “Gold Supplier” shows that a company is serious and interested in international trade with other companies.
Companies have to pay for this labeling. This provides additional security.
You will see another icon in the top right corner that shows that the vendor is a member of the “Trade Assurance” program - which protects you in case something goes wrong.
If you see these symbols, you should contact the seller to find out about their offer.
Key elements that you should discuss are the terms of payment (prices) and whether sample products can be sent for inspection.
It is always a good idea to request samples before placing a larger order, as this will allow you to assess the product quality and find out how well it works with the supplier.
Creating your shop
Once you've found out about suppliers and determined how to source your products, it's time to create your shop.
You can offer your products on Amazonor open a shop on Shopify.
First, let's take a look at how you can offer your products on Amazon.
Go to the bottom of the Amazon homepage and select “Sell Now”.
Then sign up for the sales service.
You can choose the “Basic Account” tariff, but in the long term the “Pro Account” tariff could be the better option for you.
As soon as the account has been opened and your identity has been confirmed, you can start setting up your products.
It's good that Amazon has a useful sidebar to help you with this.
Here is a short summary, from Amazon, which explains the sales process in detail as soon as you are ready.
Click on “Inventory” and select “Add Product” to get started.
Then find the item you want to sell (or choose “Create New Product”) and follow the checklist.
When you're done, you'll have a product that can be sold on Amazon.
In addition to Amazon, you can of course also create your own independent e-commerce shop.
Ten years ago this would have been almost impossible without long technical explanations.
But nowadays, creating a shop is actually very easy.
With Shopify (which provides 243,000 shops for anyone who wants to run their own e-commerce shop) you can quickly create a shop that also looks professional.
The cost is reasonable and intended for people who are just starting out with e-commerce.
You can sign up for the 14-day trial version to get a feel for the platform.
If you have a specific design in mind for your shop, go to https://themes.shopify.com/.
Here you can see some designs that are available for Shopify.
If you ever need help with the technical aspects of creating a shop with Shopify, you can always speak to a “Shopify Expert”.
In addition to the technical aspects of creating a shop, you also have to deal intensively with the advertising text.
Copywriting isn't just important for landing pages. They are always necessary when you want to convince someone of the sales value of a thing.
When you write the product descriptions for your site, focus on the benefits of your product.
If your product has a unique selling proposition, make sure you know it and describe it in detail when you write your product descriptions.
Forward traffic to the shop
Once your shop is up, you have to convince people to visit.
Driving traffic to an ecommerce store can be a lot of fun, and you can try a lot of different things.
Before you can drive traffic to your shop, you have to get to know your customers very well.
What influences them and what are their demographic characteristics?
Once you have this information, it will look much better for your marketing efforts, and it will also be much easier to identify and seize good opportunities.
For example, Facebook ads are a good strategy to keep an eye on.
Advertising on Facebook is easy, and 2.5 million marketers are already using the service.
I have explained the procedure in more detail here and here.
If you take the necessary care (related to your customer knowledge) mentioned above, you can take full advantage of the powerful targeting that Facebook provides.
You can also get sponsored posts on social networks like Pinterest and Instagram contemplate.
All you have to do is find profiles that fit your demographic goals.
Then just send these users a short message letting them know that you would like to sponsor a post.
When you sponsor a post, you can't be aggressive enough about your sales message. You have to make sure that your product images do a lot of the persuasion.
But by this stage, you should already have some great product photos that you can use for sponsored posts.
You can also use Google Ads.
Creating Google Ads can be tricky, but don't let that stop you.
The long-term optimization of your shop
In the long run, there are a few steps you need to take to ensure that your store's sales will go up and stay active for a long time.
You can use retargeting for this.
Retargeting allows you to address people who have already visited your e-commerce shop but have not yet bought anything.
For example, if a visitor looks at a product but doesn't add it to the shopping cart, you can show them advertisements for that product while they visit Facebook or browse other sites on the Internet.
Retargeting increases the chances of converting someone by a whopping 70% - so give it a try.
Another option is to email abandoned shopping carts.
Abandoned cart emails are sent to people who have added items to their cart but not completed the purchase.
72% of all people who add something to their shopping cart don't complete the transaction.
If you are sending these abandoned cart emails to these customers, it may be helpful to offer a discount that will convince the prospect to complete the transaction.
You can be very successful with that. The graph below shows how many people ultimately change their minds when the products are offered at a lower price.
You can also experiment with upselling and cross-selling.
What you offer at upsell depends heavily on your current offer.
Here I go into more detail on the topics of upselling and cross-selling.
Upselling and cross-selling can help increase the scope and profit of a sale by offering products that complement the customer's products.
You can also see what effect the free delivery has on your sales.
8 out of 10 shoppers say they would buy more if free shipping was offered.
The graph below shows other reasons why people don't buy from certain ecommerce stores.
Shipping costs were discussed above, and as you can see, they are one of the main reasons people abandon their shopping carts.
But 23% of customers leave their shopping carts open when they need to create a new account. That is why you should consider offering a “guest checkout”.
Keep this and the other reasons behind the graphic in mind if you want to improve your shop in the long term.
In this article, we looked at what you can do to build your own profitable ecommerce store.
We learned how to source products and create an e-commerce shop.
We also discussed how you can keep your shop alive in the long term using various profit-increasing strategies.
Why not just take a little time to create your own shop and then watch how things work out for you?
I wish you success!
What is your experience with creating an e-commerce shop? Please share your tips with us!
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