Starting an Online Store: What You Need to Know to Succeed

Posted on: 11 Apr 2019 by Admin

Still wondering how peoples earn money online while sleeping?
would you like to work from anywhere in this world?
We know that organizing an online store can be a terrifying idea particularly when you are not a techy
Start an online business with this 6 simple steps
It’s hard to track the entire buyer persona after the invasion of the internet.
Before doing a purchase, a buyer with makes the unpredictable online journey on the internet that’s flooded with information.
Thus the seller’s ultimate aim of conversion of an audience to the customer comes to be a bit difficult task for eCommerce store owners.
Your eCommerce store needs time, lot of technical effort such as payment gateway, domain, hosting account, SSL certificate, SaaS, Magento, Shopify, SEO, AdWords, campaigns, etc. and marketing strategies.
Even though you are master Shifu in online business, you may need to fight hard with your competitors to sustain. This article helps you with things to know when you start an online store.

1. Do you really need an online store?

This question may sound awkward, but the thing is, not every business needs an eCommerce store. Analyze your business, market, and competitors. Answer yes/no for the following questions.
Who are your customers?
Are they buying online?
Who are your competitors?
Do they have an eCommerce store?
Had your customers ever enquired you about your online store?
Do you need an eCommerce store or a clear website that leads your customers to your physical store?
If your answer is yes for all the above, then don’t wait for more, do it now.

2. Get Technically Ready

If you are a web development expert you can easily understand the technical part, anyways you may need to hire a trusted web design company to design and develop your eCommerce store in a good platform.
My personal interest is Magento as it has many features.
Technical aspects included are:
Choose a good domain name (better same name of your physical store).
create an appealing and clean website with detailed product list, high definition images, fast loading that attracts your customer.
Find a good web hosting company for hosting your website.
Do good SEO for your store
Try freebies as the inaugural offer.

3. Paid ads to advertise your business

Once your website has launched, start advertising it. Paid ads help to generate traffic and thereby reach a wider audience. You can use search and display ads via AdWords, social media ads and more. When you make a budget, plan for ads also.

4. Find your space in the market

You are going to sell your product on a market where the availability of a similar product is rich. You need to find a gap for your store. As Apple says, think different! Come up with your own different solid marketing ideas on how to stay ahead of the crowd.
Present your product in a way that pleases your target audience. That is the content of the website, its look, and feel and user experience matters. Along with that give priority SEO.

5. Expand your product list

This can be told by an example. Suppose you have a vegetable store and you are starting an online store for that.
Try increasing your products lists like clean vegetables, cut vegetables, cut vegetables for fried rice, cut vegetables for a various dish, ready to eat corn, vegetable pickles and more.
As you increase the product list, more customers will come to your store than a specific group.

6. Track Conversion rate

Once everything is done, start bookkeeping for your business. You need to be familiar with your numbers. Initially, you should have an idea about your target audience.
After that, try to reach out your product to them and try to maximize the conversion rate or sales.
Now calculate the sales happened per day and per month. You will get an idea of your profit margin.
According to business maths, your profit can be calculated as below formula:
Profit = Demand * (Revenue – Expenses)