What Do I Need To Start A Ecommerce Business – Inspiration strikes. You have a genius business idea and you’re ready to share it with the world. But you don’t even know how to start an online store. sound like you Don’t worry – this is where we come into play.
This guide will provide a detailed overview of how to start an eCommerce business. We’ll discuss everything from choosing a business model to making your first sale. So without further ado, let’s get into Phase 1!
What Do I Need To Start A Ecommerce Business
When inspiration strikes, it’s easy to grab a laptop and try launching your eCommerce store right away. But going back to basics and planning everything offline is the first step in turning your side hustle into a full-time business. Once you’ve identified a market need, validated that need, and developed your product or service idea, there are a few more things to consider before going live.
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Before starting an eCommerce business, making sure you can make a profit is key. The first thing to do is identify your business model. Do you want to offer a subscription service where customers pay a recurring fee for a product or service on a regular basis? Or would you rather create each product only after it’s ordered and then shipped?
When it comes to how to start an online business, choosing a financially sustainable business model is crucial.
As the eCommerce space becomes more crowded and competitive, you need to determine what your niche is. This is the subset of the market that wants to buy your product because it meets their specific needs and fits their desired price range, product quality, and demographics.
Finding a financially sustainable niche market allows you to rely on a steady income stream, build a customer profile, identify competitors and define your niche in the market.
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You don’t need to reinvent the wheel either – sometimes taking a classic approach and changing one element is enough to find a niche. Take New Zealand takeaway brand Angel Delivery, for example. They took the typical family meal kit delivery business model and tweaked it by letting customers gift meal kits to friends and family during life’s highs and lows.
This slight twist on the typical Hello Fresh or Goodfood structure brings Angel Delivery into a whole new realm of food-conscious gift givers.
Once you know how to make money and who to sell to, it’s time to solidify your brand. We’re not just talking about logos, colors and fonts.
When it comes to branding, you need to consider both visible and invisible elements. Knowing what your brand stands for and your values is just as important as having a catchy slogan.
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When deciding how to start an eCommerce store, there are 5 elements of branding to consider: Your Purpose, Positioning, Promise, Personality, and Identity.
Small Business Branding Checklist with Examples Learn how to apply the 5 fundamental brand elements to your small business – brand purpose, brand positioning, brand promise, brand personality and brand identity. The Smile.io Gabrielle Policella
Now is the time to plan where customers can buy your product or service from. These are known as your brand’s sales channels. When figuring out how to start an eCommerce business, you’ll need to choose between a single-channel, multi-channel, or omni-channel approach to selling.
Single-channel means that customers can only purchase products from one channel, such as your online store. Multi-channel means that customers can buy from more than one channel, but each channel can operate independently. Omnichannel selling involves offering several different buying channels that coordinate with each other to provide a seamless customer experience across all channels. While striving for omni-channel sales and marketing is a decent goal, it’s also okay to start with one or two channels.
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Identifying your sales funnel is essentially asking yourself “Where can I best reach my customers?”
How will you actually get the product to the customer? What geographic areas will you serve? Who pays for the shipping—the customer or you? These are all key questions to ask yourself when considering how to start an eCommerce business.
To develop an eCommerce shipping strategy, consider the following factors: shipping cost and method, product weight, packaging, carrier, and more.
It’s time to bring everything you planned offline into the digital world. Whether you’re looking to bring your brick-and-mortar store online, or start your first business, there’s a lot to think about when it comes to digital.
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A website domain name is the name of a website, usually after “www”. Part of your URL – this is where customers can find you online. Typically, this will be your store name, but if you have a generic name or a name used by another business, you may need to add words like “store” or “store” to your domain.
Now that you’ve settled on your brand name during the branding phase, it’s time to purchase your online domain name. Typically, you buy a domain and pay an annual fee to maintain the rights to that web address. Some ecommerce platforms offer plans that include the price of the domain name, but you can also buy it externally on sites like Godaddy.com.
Using an eCommerce platform is a great way to start your eCommerce business quickly and efficiently. Depending on your business needs, there are many to choose from. Some common ones are Shopify, Wix, and BigCommerce.
Shopify is one of the most common eCommerce platforms, offering a variety of designs, tools, and features for users with no experience in website development. Wix is another great option, offering drag-and-drop templates, as well as Wix ADI to build your site for you. BigCommerce is another option, known for being extremely scalable with powerful and advanced features. All of these platforms offer free trials, so don’t be afraid to try them out and see what works best for you.
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The Complete Guide to Omnichannel Commerce Based on Your Ecommerce Platform Omnichannel commerce is selling products through multiple channels, both online and offline. Learn how to enable this feature in different eCommerce platforms: Shopify POS, BigCommerce, and Wix POS. The Smile.io Gabrielle Policella
Once you’ve decided on an eCommerce platform, it’s time to create your website. The first step involves choosing a theme or template design that matches your brand identity, then customizing your theme to fit the branding you’ve already created. This will provide customers with a cohesive experience.
When you’re just starting out learning how to start an ecommerce business, take it slow. You can experiment within your eCommerce platform by adding some products. Once you’re familiar with it, you can add more advanced features such as pages, widgets, or plugins.
Plugins are available through app stores within the eCommerce platform. This allows you to add elements to your store, such as social media feeds, reviews, or loyalty programs. Whether you choose Shopify, Wix or BigCommerce, be sure to check out Smile.io in the app store 😉
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The next step is one that will be of great interest to you – collecting payment from the customer. Most ecommerce platforms offer their own native payment structures, either built-in or add-on to the plan of your choice. These are great options when you’re just starting to keep things simple.
Another option is to set up an internet merchant bank account and use a payment gateway like Realex or Sagepay to process online payments. These are additional costs on top of the ecommerce platform plans. Alternatively, you can integrate a third-party payment provider such as Stripe or PayPal on your website.
As with everything involved in starting an online business, the key is to try out different options, determine what works best for your business, and continually evaluate its effectiveness.
The final stage (and arguably the most exciting) is selling your product. This is when you really work on building strong client relationships, which are critical to long-term success.
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Now that you’ve got an eCommerce website, it’s time to turn it into a brand your customers will love. It all starts with getting your first client.
How to start acquiring customers for long-term success You have to work hard to keep them for life. The Smile.io Tina Donati
Marketing and promotion are key at this stage. Identify the marketing channels you will use to acquire, attract and retain customers. Some common channels include social media, email, rewards programs, paid advertising, referral programs, SEO/organic traffic, content marketing, and more. Start by trying a few, and slowly add more as you figure out what resonates best with your customers.
No matter what stage your business is in, your brand marketing should be constantly evolving. We spoke to the team at Dopps, a well-known sustainable cleaning brand, about their marketing. “Experimentation is key! In an online world where algorithms and trends are constantly changing, it’s easy to feel like you’ll never get it right.”
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“When we rely on the creativity of our team and let our Dropps humor shine through, that’s where we’ve had the most success” – Jonathan Propper, CEO, Dropps
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