How to start an eCommerce business: Step-by-step eCommerce guide
Before we get to the main topic, let’s look at some statistics and predictions about the explosive growth of the eCommerce industry.
- In 2021, e-retail sales surpassed 5.2 trillion U.S. dollars worldwide.
- The US eCommerce market is forecasted to reach over $875 billion in 2022.
- eCommerce sales are expected to reach $6.3 trillion by 2024.
- 58.4% of internet users buy something online every week.
- 52% of online shoppers are attracted to brands that share their values.
As a result of Covid 19, online shopping has become a priority and a necessity every year. People now prefer online shopping to in-store shopping. So it’s time to introduce the business on the online platform and how to start an eCommerce business, just scroll down.
How to start an eCommerce business
According to statistics, 90% of eCommerce startups fail within the first 120 days. To avoid failure, a targeted strategy should be implemented from the start of the business. Here are the basic steps required to start an eCommerce business. Follow these steps for success.
Clarify your eCommerce business idea and niche
First of all, you need to clarify what kind of business you are going to do. Study the current market, follow reviews/statistics, find out which products or services are most in demand and create a business plan. A few questions to ask yourself before starting a business.
- What problem does my product/service solve?
- Who are your target customers?
- Is there a demand for the product/service at that time?
- What kind of investment do you need to start a business?
- What are your competitors in the industry?
At this stage, it is important to find your niche. To adapt the product/service in the market, it is necessary to conduct market research in the area where you plan to sell. For example, you will start selling soap online in one of the country’s suburbs. You are territorially restricted and will only sell and ship within that region. To understand your business’s position in the area, you must conduct region-by-region research to identify competitors. In addition, you should test the products/services with your potential customers to understand if you are targeting the right market. This can be time-consuming, but as a result, you will uncover an image of your target customer and find your core niche.
We recommend reading the topic of how to start a business in general. Read here.
Obtain/produce your product
Once you have decided what product range you will be selling, the next step is to find the right sources and suppliers to buy the products from. Building a sustainable supply chain is essential, especially if you plan to dropshipping. Running an eCommerce business is sometimes not as easy as it seems. It is necessary to establish a partnership with the individuals or companies supplying the product and the delivery service and the couriers so that the process of purchasing and shipping the product goes as smoothly as possible. Remember to arrange all supply and shipping issues before starting your eCommerce business.
Create your brand
Start with the name and logo․ Identify the main colors and fonts of your brand that you should use in future marketing campaigns. Create an impressive slogan that speaks volumes about your business. Remember that creating a brand and dealing with its branding is one of the primary stages of business promotion. Even if you are reselling, it does not allow you to ignore the business name, create a logo, etc. The next stage is the legal registration of the brand and obtaining the license.
“Branding is the art of differentiation. Brands exist because people exist.”
Position your brand on social media
Did you know that in July 2022, Facebook had 2.934 billion monthly active users? It is now a reality that a business cannot survive without a social media presence. So, before you start selling, you need to activate your business on social media by promoting it organically and paid. For digital marketing specialists, social media is one of the most important tools for business development. After creating your brand, you can post it on relevant social media and run several marketing campaigns, including even influencers, to increase brand awareness.
Create your online store
Present your products also on your website, influencing your position in the search engine. Before creating a website, specify and buy a domain to attach it to the website. The next stage is the choice of website design. It should match your brand colors as much as possible. Details, details, details! This is what is extremely important. But you should also not forget about the good user experience, so the website should be simple and easy.
There are various online store builder sites, like Zegashop that will allow you to create a website for your eCommerce business on your own without coding skills. There are also ready-made templates that you can adapt to your website. When creating an eCommerce website, it is mainly necessary to pay attention to page loading speed, features, and SEO. These are important to keep users on the site and make a purchase.
If you want to launch your online store in just 3 minutes, then this article will be useful for you.
Start marketing campaigns
So, once you’ve launched your website and have a social media presence, it’s time to start attracting leads. Depending on the industry and direction of your business, in addition to traditional paid advertising, you can also start influencer campaigns by incorporating them into your marketing strategy. In the meantime, don’t forget to analyze the campaign’s performance and make changes if necessary. Create user-generated content and try to influence Google’s algorithm by changing the site’s position.
Also, read this article to create a successful marketing plan.
Ready to start a successful eCommerce business?
Collect your ideas and start your online business now. Follow this guideline to learn how to start an online business, because the sequence of steps is important for success.
Keep going and make your eCommerce business popular!