Starting an e-commerce business is not only exciting, thoughtful, and productive but also scary. However, it won’t be like that if you follow the right steps and implement productive strategies!
E-commerce has no doubt become the new normal for our daily lives. It is one of the most revolutionary advancements of this era that technology experts have improvised in recent years. You can get everyday groceries delivered to your doorsteps within 30 minutes and shop from international brands and get them to the other corner of the Earth.
As the world’s e-commerce sales are expected to rise by $ 7 trillion in 2025, starting an e-commerce company is certainly not an unprofitable and boring idea. However, the right steps, effective strategies, continuous hard work, and a successful mindset are what a successful e-commerce business demands.
Therefore, in today’s discussion, we are bringing a complete step-by-step guide for starting an e-commerce company under the spotlight today. Thus, make sure that you sit tight and take notes!
Ecommerce Business: A Revolutionary Example of Digital Success
E-commerce, also referred to as e-business, is a process of buying and selling products and services through digital media, usually occurring between Business-to-Business (B2B), Business-to-Consumer (B2C), and Consumer-to-Consumer (C2C).
As e-commerce is entirely based on digital technologies, the buyer, or targeted leads (potential customers), view the products and services online on digital stores, websites, or social media marketplaces, then choose their products and services and complete their order for further processing and delivery.
After selecting the products or services and adding them to their digital cart, the buyer makes the payment digitally or selects the Cash-On-Delivery option, enters their delivery details, including the receiver’s information and delivery address, and confirms the order.
And once the order is confirmed, the seller’s server will receive the notification about the order along with the buyers’ details so they can start preparing the order and take steps for its secure delivery.
Well, e-commerce might not be as simple and quick as it is explained here, but there is no rocket science either in setting up an effective and successful one and selling your products and services.
A Step-By-Step Guide to Starting an E-commerce Business
Performing Market and Niche Research
Market research is the first and most critical step in initiating an e-commerce business. It involves researching the competitors offering products and services along with their pricing structures and practices. And thoroughly understanding the needs of your targeted audience and creating a customer persona. This allows your newly established business’s success to stand on the pillars of your industry experts significantly.
Market and niche research is all about analysis and insights, as it will not only help you generate more leads in the future but will give you returning customers with loyalty and trust. The market analyzing practices usually revolve around the following factors:
- Current leading companies in the industry.
- Demand for your products and services.
- Needs and expectations of your potential customers.
- Latest and future trends in the industry.
Setting Up the Basics of Your Company
You will kickstart your e-commerce business and establish its first pillar at this step. For setting up the basics of your company, decide on an industry-related name, logo, tagline, and theme for your company that aligns with the industry, niche, and nature of your products and services.
However, make sure you choose attractive and eye-catching options, as your potential clients are more likely to remember the company’s name, colors, or taglines instead of the address, phone number, or product list.
Secondly, start creating the basic digital presence of your company, fulfilling the major branding aspects, including:
- A user-friendly and responsive website.
- An official contact number.
- An official email address of the company.
- Registering your business in Google My Businesses and other listings and directories.
- Pages on social media platforms like Facebook, Twitter, Instagram, YouTube, and Linkedin.
Keep Track of Your Inventory, Fulfillment, and Shipments
Now that you have established the key pillars of your company, it is time to jump to the most critical aspect: management of the orders and delivering them to the customers, whether B2B, B2C, or C2C, seamlessly.
The fulfillment centers are like warehouses that store the products to deliver them to customers immediately but with additional charges, named as order fulfillment services. They pick up the products, pack them, label the parcels with your company details, and deliver them to the customers accordingly.
In addition to that, these companies provide package tracking technology which makes it easier for both customers and e-commerce businesses to keep track of their packages. Following are some of the reasons why choosing fulfillment and inventory management services is better than managing the inventory itself:
- Eliminates the need for physical space for storing products
- Reduced workforce required for management of the inventory
- Saving time, money, and efforts
- No need to contact to the logistics companies for every order
- More time to focus on the company’s growth
- Effective management and quick deliveries of orders
- Enabling the buyers with digital package tracking technology for a satisfactory experience
Practice Effective Ecommerce Marketing
E-commerce marketing is simply about focusing on your prospective customers and driving them to the store in a digital space, so you can sell products or services.
It is a rather vague term that covers everything from traditional marketing techniques to employing cutting-edge digital technology. E-commerce marketing is extremely important to the success and revenue of your company. Here are some of the aspects of advertising it includes:
- Run online paid advertisements like PPC, Google Ad Sense, and social media marketing on Facebook, Instagram, Twitter, Tumblr, Pinterest, YouTube, and others.
- Gather the data of your potential leads and customers and start email marketing campaigns.
- Apart from online stores, start selling your products and services on global marketplaces like eBay, Amazon, and Alibaba.
- Focus on the ranking of your online store in the search bars through effectual and result-driven SEO practices.
- Spread awareness and knowledge about your products and services by running blogs, podcasts, and social media trends.
- Start influential marketing through celebrities and highly-followed personalities to increase your reach and advertise your products and services to a larger audience.
- Start investing your practices in upselling and cross-selling to generate returning and loyal customers.
- Ask for reviews on third-party websites as well as on your company’s social media pages to bring authenticity to your brand.
- Partner with third-party platforms and start your content marketing campaigns by posting guest posts and guides.
- Offer promotions and discounts to your customers to establish a returning and loyal relationship as well as encourage them to make more purchases in the future.
- Set up end-to-end automation with AI-powered solutions like EcoReturns to make your processes efficient and offer an excellent experience to your customers.
Conclusion
Every second a change in the digital industry takes place that will profoundly affect commerce business. Thus, do not let plates spin-off if you want to be on the cutting edge and in control of things. From developing new strategies based on customer opinions to all the hot topics in an industry you only need to change your skills and ideas into a good e-commerce with improved and effective and smart moves.
