Ecommerce is Big Business
Over the last several years, eCommerce; transactions made electronically on the computer, has become widely popular. Shopping online used to be a convenience, but now it’s a necessity. Due to recent world events, Brick and mortar stores were forced to close and may never open again. That’s where eCommerce comes in.
The eCommerce model of direct to consumer and private labeling are very popular and gaining momentum. Many sellers enjoy this type of business model because they have more control of their brand and audience. It’s a great time to start an eCommerce business and be successful because there will always be more consumers than there are creators and sellers and a huge population that buys everything online. That being said, it’s not too late and it’s not too hard to open an eCommerce business that will create a whole new stream of income for you. It can seem overwhelming at first, but it doesn’t have to be. Read on for some tips and tools you can use to start your online business.
Marketing is King.
Good marketing creates good sales and gets you the ROI you need to be successful. It’s important to have a digital marketing plan that is right for your product and will work to raise brand awareness and increase sales. So, do your research and be knowledgeable about online marketing strategies. Choose digital marketing tactics and platforms that will help you succeed in your eCommerce business.
Digital Marketing
Website design, SEO, and Social Media Marketing as well as Instagram influencer promotion, Google Ads, YouTube ads, and Sponsor posts are all great forms of digital marketing to consider for your eCommerce business.
It is important to remember, that your website is your storefront, therefore you want to create a site that is memorable and will let potential customers look at the products you offer, like what they see, and buy the product online. A visually pleasing site will work to increase your site traffic and sales.
Social media is one of the biggest marketing tools for eCommerce brands. Consistently post content where your audience will see it and get excited about it. If you are doing it correctly, social media will create a “buzz” about your brand, which will lead potential customers to your website to browse and buy your product, increasing your brand awareness, traffic and ROI.
Find your niche audience.
Maybe your product benefits gardeners, mechanics, or work-from-home mothers. Gearing your product toward a specific market not only keep your marketing budget smaller, but it also yields a better conversion rate because you are solving a problem for your niche audience with your new product. It’s important to find a goal buyer who will most likely buy your product. Consider some of these basic questions to help pinpoint your niche audience:
- How old is he/she?
- Where do they live?
- What is their income level?
- What things matter to them?
Choose your product and/or
You have likely already thought a little about what type of eCommerce business you want to start, physical product or digital product. Do some research. Find the top competitors in your space and do some research on their history and business model.
When coming up with your product, think about your own experience, what do you like, and what are your favorite products? Identify current trends. Identify a gap or need in the market. Spotting a trend can make you a leader in the market. And, with resources like Google Trends, you can separate fads from trends that have a longer shelf life. It’s all about creating something of value for your audience.
Develop your product and/or service
Do some research. Find the top competitors in your space and do some research on their products, history, and business model. Product research provides you with invaluable insights into the market and your audience, and should include checking out product reviews and noting the common pain points and feedback about different products. This will help you implement a change to a product that will benefit the customer.
Pre-Launch and Post Launch
To have a successful eCommerce business, marketing should begin before you have even finished developing your product and well before your product hits the market. This is called your pre-launch strategy. Pre-launch marketing strategies that work well for eCommerce include personal branding, sending out newsletters, creating an online store, and developing a brand website. After you have opened your eCommerce business, it’s important to look at your marketing strategy post-launch and analyze your results to see if there is any need for changes or fine-tuning.
Now is the time to start your eCommerce business
Now that you are equipped with some tips and tools, you are ready to start your eCommerce business. Ecommerce has transformed how people shop and buy online. And, new online stores are popping up every day. The opportunities are vast and eCommerce is booming. Remember, it’s not too late to start a successful eCommerce business.
