Due to the pandemic, many businesses were affected and suffered a lot. Fortunately, business owners who want to gain sales to survive and serve their customers better have found a way to continue their operations and that’s through launching an eCommerce business.
In fact, even aspiring entrepreneurs are considering changing their plans to build an eCommerce business rather than opening a brick-and-mortar store. If you’re one of them and you don’t know where to get started, you can check out what’s trending in the eCommerce industry at websites like My Trending Stories.
If you’re ready to start building a successful eCommerce business from scratch, make sure to follow the steps below:
- Select Your Niche
To start a successful eCommerce business, you should look for the right niche that’s perfect for you. With this in mind, you must have a sense of what type of business you’ll be running. If possible, research the market and look at various businesses in your sector and determine what they’re doing.
Then, get as many ideas as possible since the market of eCommerce is highly competitive. So, you have to think about what makes your business unique before you start building one.
The DIY niche is a good example because there are lots of opportunities to customize your work, such as crocheting, painting, and candle making. If you've got woodworking skills up your sleeve, simple wood projects like wine racks, toys, and storage boxes sell pretty well. There are lots of websites where you can sell woodworking projects, so you can explore those and get some ideas you can draw inspiration from.
- Look For eCommerce Products
If you’re new to eCommerce, you might wonder what you must be selling. As a matter of fact, getting stuck on it is the reason why people don’t take the plunge to start their own eCommerce business.
If you want to be successful, you should be strategic when it comes to determining the products or items that are trendy or something not common in other eCommerce businesses. This is the reason why choosing the generic route and deciding to sell jewelry or books will likely fail since there are already many businesses out there meeting such demands.
Therefore, the best route is to go with certain items that appeal to a particular group of people. You can start with a list of possible products you would want to sell in your store and select the eCommerce suppliers you want to work with.
Also, think of those things that you or other people you know would be interested in when looking for eCommerce products. It’s also a great idea to explore social selling websites like Etsy.
- Know Your Target Market
Once you’re done gathering information about products, it’s time to know your target market. You should have a clue about your ideal customers and creating a customer persona can be helpful. A persona is a fictionalized version of your customers that lets you predict and try how they’ll behave. Once you figured out your personas, be sure to know how to appeal to them.
- Decide How To Get Your Products
Depending on the products you want to sell, you should know how to obtain them. While you can manufacture your own products, it might not be a good idea if you have a tight budget. Plus, it only makes sense if you’re planning to sell in big numbers.
If you don’t prefer dealing with carrying inventory on your own, a good option is dropshipping, which involves partnering with another business that will ship the products for you once somebody orders them.
- Choose Your Business Name And Legal Structure
When starting an eCommerce business from scratch, naming it can be challenging as you have to come up with something that’s appealing and describes the brand you want to create. Aside from that, it should be unique. However, make sure to keep it simple and get creative for your business to stand out in the eCommerce world. You can use Logo.com's business name generator for inspiration on creative ideas to make sure your new name will stand out.
Once you figure out the name of your business, the next thing to consider is its legal structure. You have to do homework to know which legal structure is best for you. The types of legal structure to choose from include corporation, LLC, general partnership, and sole proprietorship.
- Build Your Online Store
Setting up a website for your eCommerce business isn’t easy. Fortunately, there are various eCommerce platforms you can choose from, but remember that not all may fit your needs. If possible, select an eCommerce platform that allows you to customize your business, payment gateway, branding, and so on. Just don’t forget to use a simple but easy-to-navigate eCommerce website design to provide your customers an excellent user experience.
- Promote Your eCommerce Business
Once you launch your eCommerce store, don’t expect that your target audience will find your business easily. This is the reason why you need to advertise and promote your business properly.
One of the ways to market your eCommerce business to reach your audience is through influencer marketing. It involves reaching out to the industry influencers and asking for their help to promote your products and services. Depending on the influencer’s terms and conditions, it may or may not involve paying your chosen influencer.
Starting an eCommerce business requires careful planning and strategy. The time you spend putting into your future business is a great investment. By following the steps above, you’ll be able to launch an eCommerce business that you’re passionate about.