How To Start An eCommerce Business

By -

More than half of the world’s population made an online eCommerce purchase in 2016, and these numbers are only expected to increase.

This means establishing an online presence is more crucial than ever if you want to keep up with the competition, continue to expand your brand, and generate more annual revenue.

Luckily, we are here to show you how to start a successful eCommerce business, so that you can begin attracting, converting, and retaining loyal customers in no time.

1. Choose a Business Name

After deciding what you want to sell, you’ll need to choose a business name that will withstand the test of time. Make it easy to remember, relatable to your target audience, and personal – to give your business an edge against the competition.

2. Register a Domain Name and Build a Website

eCommerce Domain Name Example WalMart

Typically, people aim to use their business name as their domain name. However, if that’s not possible, register a domain name that is at least compatible.

At the same time you are registering your domain name, you should be considering the platform you want to build your eCommerce site on. There are plenty of options including Shopify, which is an all-in-one solution, or other more customizable options such as WooCommerce (which is built on the WordPress CMS).

3. Find Products

You will need products to sell in your eCommerce shop. And sometimes, this can be a challenging process because startups can be expensive.

However, for those looking for an affordable way to get an eCommerce shop up and running, there is always the dropshipping method.

With dropshipping services you can find products you would like to include on your eCommerce shop and import them directly.

 

The Dropship Model for eCommerce

From there, customers purchase those products, you place an order with a third-party supplier, and they ship the item straight to your customer.

The dropshipping method is popular because it eliminates the need to stock and deliver inventory yourself.

4. Marketing & Retargeting

It is not enough to have an online presence. You need to invest some time into marketing your brand so your target audience learns you exist.

eCommerce Marketing and Retargeting

Here are some great ideas to get you started:

  • Create a “Coming Soon” page
  • Build landing pages leading site visitors down your sales funnel
  • Build an email list to stay in touch with customers
  • Publish consistent blog content to engage customers and build product interest
  • Utilize multiple social media platforms to interact with customers and share information

In addition, you will need to work on a concept called retargeting. This means finding ways to encourage those that visited your online shop, but didn’t buy anything¸ to come back and make a purchase after all.

Reasons for ecommerce online cart abandonment

According to Kissmetrics, the number one reason people abandon their shopping cart is unexpected shipping costs. Make sure to address all of the reasons people fail to finalize purchases and urge them to come back and try again.

Final Thoughts

In the end, starting an eCommerce shop is relatively easy to do. There are plenty of services and tools available to guide you through the process and make the startup process easier. As a result, you are able to focus on the important things, like getting customers to visit your shop and make purchases. For the Silo, Dimitry Karloff.

Featured image – https://pixabay.com/en/ecommerce-shopping-credit-card-2607114/

Leave a Reply

Your email address will not be published. Required fields are marked *