If you are planning to start an eCommerce store, you cannot just dive in. You need a plan before, during and after the creation for your online store in order to profitably generate sales. You need to make sure that your strategies are at par with the current market scenarios to ensure the smooth functioning of your online store. In order to help you a bit, we have put together a series of logical steps that you can take ideas and help from to build, launch and grow a profitable eCommerce store.
Let’s get started…
Finding The Product
Finding the product that you would be selling is practically the first step in building an eCommerce website. This can be the most challenging part of the process. The first step is the need to figure out what people want. You can explore the best eCommerce websites out there to analyze what is trending and can decide upon a product or a type of product that you can bank upon in the long run, as a popular choice for your targeted prospects.
Evaluation Of The Idea
Already have the product, but confused whether it would sell or not?
For this, you need to first analyze your competitors. You need to analyze the time they had been in the business, their popularity amongst people by checking their reviews and the posts and the comments on the social networking sites. You ought to understand the market trends if you want to check the viability of your product. You can also utilize social networking sites to create surveys in order to understand the target audience’s mindset.
Procurement Of The Product
The next step is to obtain the product. After you have evaluated the viability of your idea and the product, you need to make a plan as to how to procure the product at a reasonable rate. You need to analyze your budget too. There are mainly three ways to do so.
A) Get a manufacturer to create your product.
B) Connect with a wholesaler or distributor to purchase a ready product.
C) Connect with a drop shipper to supply products and fulfill orders of already existing brands and products in the market.
This depends totally on your budget and the availability of resources. You have to carefully determine the pros and cons of each these options and the final decision lies with you.
After you have decided on your product, evaluated the idea and finalized on your supplier, you need to pen down the basic business plan. Your business plan should be sustainable and profitable in the long run.
This is the most important part of the research. All you need is to evaluate your competitors. Make a list of them and the products they sell. You need to analyze thoroughly so that you know exactly what you are up against. For example, you can use Google alerts for this purpose. You will know exactly when your competitor websites have made a move and then you can do the math on it.
Writing The Business Plan
After you’re done with knowing everything about the competition you are going to face, you need to literally pen down the basic layout of your business plan. A business plan is basically a roadmap that helps in bringing your thoughts and ideas together. A Proper business plan will prepare you for regular days as well as the exigencies. The basic things you need to consider while doing so is, defining the tasks, responsibilities, resources, costs, overheads and everything else that will go in setting up your business.
Now, with a business plan in hand, you could consider your options for registering your business and determining the further plan of action.
Now that you are done with the backend activities of setting up the basic idea of your business, you can start working on the frontend. This includes naming your business, creating a logo, building your own website using online eCommerce website building platforms like Buildabazaar , using SEO for your online store to get more traffic and promotions through social media.
Naming Your Business
The first step to setting up your business includes choosing an appropriate name for your online store. This step is as crucial as choosing the product to sell. Remember, the name of your store would be the first point of contact with your customers. You need to make it as relatable and catchy as you can. You need to also make sure that the domain name that you choose must be available.
Once the name of your online store has been decided and you have registered your domain, you need to create a logo. You need to craft a memorable and relatable logo that makes sense and portrays the main motto of your store.
SEO- search engine optimization, before you build your website, you need to understand the basics of search engine optimization so that you can optimize your site for Google and other search engines. You need to search the keywords important for your online business so that you design your content accordingly in order to improve the search ranking of your website.
Building The Store
As you have gathered a better understanding of SEO techniques, here comes the time to build your store. You can use platforms like Buildabazaar to build your store and get it live in less than 24 hours. Buildabazaar or BAB gives you hundreds of ready templates to choose from. You can practically go online in a few hours. The interface of Buildabazaar templates is very user-friendly and it also offers you personalized help throughout the process. You can select the package you want with relevant features and start uploading the products straightaway after choosing the template of your choice. BAB gives you training for the same too. They also help you with payment gateway integration, third-party software integrations and much more. BAB can provide optional logistic support via ShipDroid across the country. They have multi-currency support too, that allows you to expand your business overseas later on. Don’t forget, if you run into any problems getting your store set up, you can always get help from BAB experts.
DRIVING ONLINE TRAFFIC TO YOUR STORE
Once you are through with setting up the store, you need to do one more thing. This is getting online traffic to your store. You are going to get people to actually visit your online store. Driving traffic to an e-commerce store can be a lot of fun as there are a lot of different things that you can experiment with. Before you start, you need to understand the demographics of your prospects and what influences them. Once you know this information, your marketing strategies would be better off and more target based. It will be easier to spot viable opportunities. You can even set up Facebook Ads according to it. You will also be able to take full advantage of the powerful targeting features provided by Facebook. Not only Facebook, you can take social platforms like Pinterest and Instagram into account too. You need to rely on your product images than the text content if you are aiming for this type of advertisement. You can even use Google Product Ads. The setup process for Google Product Ads can be a little bit complicated, but don’t let that keep you from using them.
Next, you need to optimize your store in order to turn your visitors into customers. You can either give them promotional discounts or great deals and offers on your products. You need to explain in the content about why your products are better than your competition. You also need to take care of easy checkout options and secure payment gateways.
Furthermore, You need to take into account the reasons for shopping cart abandonment in your store and take steps to prevent that. And meanwhile, if you have any other doubts or queries, you always have the assistance of BAB experts to seek advice from.
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