It’s no secret that e-commerce is booming. In this hyper-connected world — and especially in light of this global pandemic that keeps lots of people more physically separated than they would usually be — more people than ever are buying online. This means more people than ever are setting up an online business. So, to join them, and be in with a chance of being the next great success story, follow these simple steps to setting up your e-commerce business.
1. Plan
Careful planning is key to setting out on your e-commerce adventure. Without thorough planning, you can cause yourself a world of pain later down the line. You’ll save yourself time, money, and hassle later down the line. Before you can start getting into the details, you need to identify what your product will be. To do this, you could cast your net out wide and research, considering whether you’ll go ultra-niche or more generic. And the next stage you can set out timeframes, contacting manufacturers, and planning how your business can expand and contract where necessary.
2. Develop a strategy
This is the time to plan out your business model and engage with your brand positioning. You can consider whether you’ll work with a unified platform, or start out on your own. You need to decide what business model will suit what you’re selling and interrogate how you can implement this in your own business. You can also spend time gathering insights from other businesses and social media to influence your overarching business strategy.
3. Create your online store
There are thousands of tools out there to help you set up your webshop. Whether that’s creating your own or joining a platform that can help you sell online. Solutions like Salesforce can help guide your fledgling business and help you get going quicker, but there are pitfalls, too. These businesses can charge more than you’ll be willing to pay initially or limit your ambitions somewhat. This choice is down to you.
4. Attract your customers
To do this, you need to consider who your customers are. Get to know your target customers well, that means understanding what they like, what they don’t like, how they’d describe themselves, and where they’d be likely to shop. That way, you can position yourself to be where they’re looking, and intercept them on their path to purchase.
When it comes to attracting your customers, consider choosing a marketing campaign that will not only draw in customers but also help to organically build your brand. That could be through social media – the e-commerce business’s best friend – or through promotions or even an email campaign. What you decide on should be guided by your careful planning, strategy, and your customer insights. Oh, and of course, your budget.
5. Invest in your business
Whether that’s investing in a pallet rack for your business – either in a local warehouse or another facility – or upgrading stock or even investing in a more advanced e-commerce platform, it’s up to you!
