Starting an eCommerce business: turning your vision into reality

 

How to Starting an eCommerce business & turning your vision into reality?

We live in an increasingly digital age, most of our lives are spent online, whether it's answering emails, watching streaming services, or browsing social media. And of course, for many of us, this is where we do most of our shopping.

 Online retail is becoming more popular than ever, and the coronavirus epidemic has only accelerated this trend. Data from the Office for National Statistics show that internet sales as a percentage of total retail increased significantly in 2020, as companies in all sectors were forced to close their physical facilities and target audiences online.

In the UK, advances in vaccine implementation have raised hopes that we can get back to normal soon. However, the added convenience of online shopping, and the growing potential of e-commerce businesses, means that we can see a continuation of the digital-first approach.

All of these point to a good time to start an e-commerce business. But keeping the product in place is one thing. More needs to be done to make your dreams come true.

Do market research.

Before you even think about getting started, you need to do some thorough research. You need to familiarize yourself with your industry - is there a market gap that your product can fill? Who are your competitors and how do they position themselves in this field? Are there any lessons you can learn from them and have they missed an opportunity that you think you can take advantage of?

Identify your audience.

Part of your research will cover identifying your target audience. who is that? How old are you? What are your shopping habits? What are your weak spots? How do they interact with e-commerce sites? If you can answer these questions, you should be with one or more people around whom you can build your marketing strategy and business planning.

Create a business plan.

So you understand your market and appreciate your audience and what they want. You think you have everything you need to get started, but it's important to have a solid business plan that outlines your mission, your goals, and your brand values. And setting your goals is one thing, but you have to come up with a strategy on how to achieve them. This is your business plan.

Set up your online store.

How you present your product is everything, so create a site that is visually appealing, easy to navigate, and provides an easy way for consumers to get to the place of purchase. You can create a site using a well-established eCommerce platform like Shopify and if you don't have the time or skills to design it, you can hire an outside agency.

Create a marketing strategy.

Having a great product and a fancy website is fine, but if no one knows about it, your eCommerce business will have a hard time getting off the ground. You need to create a strategy that creates personalized content for your audience, is it search engine optimization, email marketing, social media, pay-per-click advertising, or a combination of different tools.

Prioritize customer service.

Once you've persuaded your customers to visit your site, it's important to take care of them. An introductory presentation is a great way to attract new business, but keeping the secret to success is important and means doing your best to connect with your audience and meet their needs. Answer their questions, respond to them in a timely manner, be transparent in your communication, and generally treat them the way you want. A positive reputation can go a long way and make the difference between success and failure.