According to the most recent survey results, the worldwide growth rate of online businesses is significantly bigger as compared to the development of traditional businesses. The success of eCommerce has been so omnipresent that even renown business household names have started selling online. Thus, if you are a business owner with an established market niche or just a beginner with really scarce funds then read this short online store 101.
1. Choose the product you want to sell
What you should bear in mind just before you start searching for your product niche, is to decide on what scale you would like to sell – local or global. Most of the online store owners concentrate on the demands of the local market. Not only are you well acquainted with the local market, but also the customers are more willing to order items from a local vendor and the shipping costs are lower for both you and the buyer.
The range of products is enormous. Fashion stores are among the top searches, however right after them are mobile phones, laptops, and household appliances. If your interests are focused on smaller niche great examples may be bio-stores, make-up or fitness supplements/gears. Don’t forget that a growing amount of services are also provided online- travel packs, vouchers, online classes, etc.
2. Set up a careful business plan
After you choose a product, you should analyze the market; this includes the following sample questions:
• Who are your competitors?
• How you are going to produce the product/ are you going to use a wholesale provider?
• Do you have the funds needed/ are you going to depend on a bank loan?
• Are you going to sell on either your online store or on marketplaces like Amazon, Aliexpress, eBay, etc.?
3. Buy the right domain name for your online store
What do I mean by right? The domain name is the address where Internet users can access your business website. Therefore, the business name should be relevant to your products and easy to remember for your target audience. It is wise to have a dedicated domain as it helps in search engine optimization, too.
4. How are you going to build your website?
There are two ways: use a website developing company or a ready made template. Of course an online website builder is convenient, but in the long run, it is not that useful. Your eCommerce website needs to be designed for the convenience of your customers. Like a true store, your website should contain details about your saleable products/ services-images, descriptions, prices, payment methods, users’ recommendations or ratings. These all should be included in your web page for the successful guiding of prospective buyers.
5. Set Up Payment Methods and choose your shipping settings
As an online business, it is a must to have multiple payment options available for potential buyers. This usually includes payments via credit card, debit card, online wallets, etc. Moreover, it is a good idea to secure your online store with the SSL certificate.
You have the payment options, but next is making sure you deliver your product/service.
• Add a shipping origin address
• Partner with a courier company
• Select a shipping option (free shipping, for instance)
You are nearly there…
After everything is sorted out and I mean everything, don’t forget to test your website!
All in all, building a business from scratch is an exciting venture and we from Donatix are here to help you out! Once you have come up with the idea, don’t hesitate and contact us.