E-commerce businesses have witnessed a steady rise in popularity in recent years. This can be credited to the increasing number of people opting to shop online. Various factors like convenience, diverse product choices, and home delivery can be considered reasons why more people prefer online shopping over conventional brick-and-mortar stores. If one is uncertain about how to launch and manage an online store, there are various steps to navigate the process confidently.
1. Pick a product and a niche
Before starting any kind of business—especially an online store—the first thing to do is to determine the product one wishes to sell. This is, after all, what their entire entrepreneurial journey and decisions will be based upon. Individuals who have already selected a product can go on to choose a niche that they wish to start with or operate in. For instance, if one is particularly passionate about selling footwear, one must decide what one wishes to sell—whether it is shoes, flip-flops, sandals, etc. If one selects shoes as their niche, one can then narrow down the options even further—like sneakers, sports shoes, dress shoes, etc.
If one is undecided on one’s product choice, then one can start by assessing the market to determine the products that are trending in a particular target market. Next, one must check out those products from popular brands and determine if there are any pain points or frequent issues reported by customers. This will help one shortlist a product that is already popular and has a defined target audience. One can also select niches based on these factors.
Once the product is finalized, one can check how to source it. One can contact wholesalers or suppliers to strike a deal. If one plans to sell original, private-label, or customized products, then one must work with a manufacturer.
2. Select an e-commerce platform
For starting an e-commerce business nowadays, one does not need to create and start an e-commerce website from scratch. Instead, one can select an e-commerce platform to create one’s own online store. There are several e-commerce platforms that simplify the process of launching an online store. Each platform offers its own set of templates that one can utilize to build their store. To make sure that one is choosing the right e-commerce platform, there are various factors to consider, including ease of use, various design and theme choices for the store, flexibility, and scalability. One can also check if an e-commerce platform offers a free trial period or an online store setup tutorial for a smoother setup and clarity.
3. Plan a branding strategy
To establish a business and brand identity, one needs to have a unique yet catchy name for the store and the brand. It is important to understand that strong branding helps any business stand out in a competitive market. The branding process also includes designing a distinctive logo that customers can relate to or connect to. Further, branding also involves choosing a color scheme for the store, the logo, and the product packaging. Combined, these things will constitute the brand identity. When determining the colors, logo, and name, one must also make sure that they reflect what the business and the brand stand for and connect with the target audience. For instance, green is a popular color choice for brands that sell natural and organic products.
4. Register the business
Legal compliance is one of the most important things to consider when starting a new online store. For this, one must start by registering one’s business so it gets legal recognition. One must also file for trademarks, patents, and copyrights to protect one’s intellectual property. Additionally, one would need to get the required licenses and permits to sell certain products.
5. Start building the store
After selecting an e-commerce platform, determining the branding strategy, and registering the business, the next step is to start building the e-commerce store’s website. Since most e-commerce platforms provide readymade templates and designs, one can simply start by choosing a template that best suits one’s theme and brand. After this, one would need to customize the online store by creating a search bar, drop-down menus, tabs, sidebars, etc., to make it easy for customers to navigate the home page and product page. After that, one can start with product listings. While creating the listings, one must ensure that one clicks good quality pictures of the products one plans to sell. One must also use the right SEO (search engine optimization) practices while writing product titles and descriptions. Before listing the prices of the products, it helps to research prices offered by other companies in the same segment or industry to set a competitive yet profitable price for one’s products.
Besides the home and the product page, one must also set up the ‘About’ and ‘Contact’ pages for the online store. The contact page must include details like phone numbers, email addresses, and more to ensure seamless customer communication.
6. Set up the checkout and payment pages
To set up payment and checkout pages, one should first select a reliable payment provider. A few factors can help one determine which provider to choose. One can start by checking the provider’s payment methods (like credit cards, debit cards, etc.). One would also need to check if the provider allows for multi-currency payments for international customers. Lastly, the payment provider must have adequate security features to ensure that the transactions are safe for both the customers and business owners.
Once the store is live, one can shift one’s focus towards generating sales and driving traffic to one’s online store with the help of effective marketing techniques. Leverage channels like social media platforms to reach one’s target audience and increase product visibility.