Starting an ecommerce business is easier than ever before.
If you’ve ever wanted to be your own boss, starting an ecommerce business might just be the answer you’ve been looking for. Whether you purchase a ready-made store-in-a-box, add a storefront to your existing blog, or set yourself up on an existing marketplace such as eBay, Amazon, or Etsy, you can have your own shop in a matter of minutes. Put that Open For Business sign next to your name, upload your logo and a few high-resolution images of what you are selling and Voila! You’re an entrepreneur!
Treat yourself to a latte. Send out a few celebratory tweets. And now let’s get down to the real work of starting an ecommerce business: becoming a success.
10 Steps To Successfully Starting An Ecommerce Business
- Step 1: Build From The Ground Up
- Step 2: Find Your Niche
- Step 3: Choose the Right Platform For Your ecommerce Business
- Step 4: Design Your New ecommerce Business
- Step 5: Set up your Payment System
- Step 6: Tackle Abandoned Carts & Other Important Issues
- Step 7: Choose Payment Options
- Step 8: Determine Shipping Costs
- Step 9: Be Mobile Friendly
- Step 10: Get the Word Out with Digital Marketing
Beginning your entrepreneurial journey on the wrong step can have a devastating impact on your sales. But don’t worry. In this article I’ll walk you through the entire process of starting an ecommerce business. I’ll give you everything you need to set your business apart from the competition. You’ll learn what to look for in an ecommerce platform, how to choose your product, and look at the importance of design and layout., I’ll even share some insider tips on compelling content.
1. Build From The Ground Up
When it comes to starting an ecommerce business, the best thing you can do to ensure success is begin with a solid foundation.
Your foundation will be built on the answers to two very specific questions:
- What market gap will you fill?
- What will you sell?
How you answer these questions will determine what your next move is. So, let’s look at each question in detail.
What market gap will you fill?
Have you ever looked at an existing product and thought of a simple way to improve it? Have you ever been at a store and thought to yourself as you scanned the aisles, “You know what they really need?”
Congratulations. You’re spotting a market gap. And that’s an almost guaranteed key to success.
If you can identify something that’s missing from the shelves of your favorite store and can find a way to fill that gap, you’ll be making life easier for your customers.
Gaps in the current markets happen all the time.
Consider the recent popularity of spinners. One woman saw the need for spinners and by creating them, she became an almost overnight success.
So the next time you’re t the market or shopping online, keep a critical eye on what’s already out there. Then ask yourself: Is there something missing? If your answer is yes, you’re one step closer to starting an ecommerce business that will stand out against the competition.
What will you sell?
Begin by looking at what you can do better than anyone else. Your experiences, skills, and knowledge are your strengths. Build on them.
Do you instinctively know what jewelry item goes best with which outfit? You can build on that by starting an ecommerce business that sells jewelry highlighting images of complementary fashion ensemble. Your customers will never again have to struggle with choosing the right accessories.
2. Find Your Niche
The best businesses specialize.
You’ll attract more traffic if you are selling something that isn’t readily available at your local corner store, like this beautifully successful beard grooming online store.
While you’re thinking about what to sell, don’t forget to take into account how you’ll ship your product.
For example, if you’re thinking about selling furniture online, larger items such as sofas or refrigerators can be difficult to package and ship. Even better? Try selling digital downloads such as ebooks or workout plans where shipping isn’t even a concern!
When you’re starting an ecommerce business remember that smaller, lighter products tend to sell better than their larger, heavier, bulkier counterparts.
That’s just one reason why entrepreneurs like Tracy Matthews are pulling in six figures annually selling jewelry online.
Benefits of focusing on a niche when starting an ecommerce business include:
- Limit your product range and stock quantities, reducing the number of unsold items.
- Increase focus on your perfect customer and target your energy on building your ideal audience.
- Improve the overall SEO score for your site with keywords relevant to your niche.
Standing Out In Your Niche
Think about what makes you different and why customers would want to come back to your store again and again.
- Is your product unique? One of a kind? (For example, custom-made climbing gloves, with each pair made to the specific hand measurements of the climber).
- Excellent customer service will always be a reason for return visits.
- Perks (like points or discounts) can generate a lot of interest in your ecommerce business.
And never underestimate the power of having a well made, usable, durable product when you’re starting an ecommerce business. It is often enough for most customers to want to explore other items in your online shop.
3. Choose the Right Platform For Your Ecommerce Business
When you’re starting an ecommerce business, choosing the right platform can mean the difference between success and failure. And now that you’ve decided what you’re going to sell, you’ll need to choose where you will sell it.
eBay, Amazon, and Etsy, Oh My!
Existing online marketplaces such as eBay, Amazon, and Etsy might seem like an easy choice when you’re starting an ecommerce business, but these readymade storefronts can be more of a challenge than a benefit.
Because these platforms are easy to use, many first-time merchandisers use them – but that’s also a key downside: it’s almost impossible to stand out from the tens of thousands of other sellers competing for your customers.
Alternatives to Existing Online Marketplaces
Because of the difficulties associated with personally managing the performance, reliability, and security issues of a self-hosted platform, many entrepreneurs find using a hosted ecommerce platform a cheaper option; one with fewer headaches! That’s especially important when you’re starting an ecommerce business.
- A Hosted Online Store For Your ecommerce Business
Fully customizable, hosted online stores, provide the storefront you want (where you sell your goods) along with the blog pages you need to build authority and attract repeat customers. Choose ready-made themes and apply for instant set up, or customize the design for a unique shop.
Check out these beautiful themes available at Selz:
Remember changing the design is simpler than switching platforms. Don’t let the layout of a store sway you from choosing it as a platform. You can always modify the set up to meet your particular needs.
- Add ecommerce To An Existing WebsiteIf you’re already online with a blog or website, you can add an ecommerce option to your site giving customers the ability to buy directly from you. It’s easy. Just embed a “buy now” or “shopping cart” button to your existing website and you’re open for business.
Insider Tip #2
For maximum benefit when starting an ecommerce business, embed an online store within your existing website or blog using Selz. When you embed a store – rather than linking to an external site – customers stay with you!
The golden rule of successful ecommerce is: Never send customers away from your site!
4. Design Your New Ecommerce Business
A good looking, fully functional store or shopping cart is important when starting an ecommerce business. Thankfully, the wide variety of readily customizable themes means you can quickly do the job yourself without having to invest huge chunks of cash or learn complicated programming languages.
Designing a full store is simple with Selz. Our simple drag and drop store builder is easy to use. See it in action:
Of course, if money’s no object, you can always hire a professional designer to do the job for you.
5. Set up your Payment System
In the early days of starting an ecommerce business, you may not have too many customers. But, you’ll be surprised how quickly that will change. You’ll have a string of customers buying your goods before you know it. That’s why it’s important to get your payment system set up early.
Every payment system should have:
- A secure checkout with an SSL certificate (a digital certificate responsible for authenticating your website’s identity and encrypting sensitive information sent to the server). This is a minimum must have, and is offered to every seller here at Selz. And remember: Never store customer credit card details on your website.
Every Selz store comes with a free SSL certificate, not just for the checkout pages like some ecommerce platforms, but for every page of your online store. It’s super-easy and it helps you build trust and credibility with your customers.
- Payment Card Industry Data Security Standards compliance (“PCI Compliant”). This lets customers who want to shop at your site know that your ecommerce business meets the minimum security standards of the Payment Card Industry and that their payment information is secure. The great news is, a hosted ecommerce platform like Selz does this for you!
6. Tackle Abandoned Carts & Other Important Issues
You won’t be a success if customers don’t spend their money at your store. That’s why getting customers through the checkout process as quickly and effortlessly as possible is one of the most important keys to online sales success.
With your Selz account, you can easily set up abandoned cart emails to automatically be sent to your customers. This is a simple way to get more sales while letting Selz do the heavy lifting for you!
7. Choose Payment Options
If you’re starting an ecommerce business, accepting PayPal and credit card purchases will increase sales.
With more than 143 million PayPal shoppers online, and Visa and Mastercard recording $84.3 billion dollars in online sales last year, you can increase your sales by as much as 25% by simply providing customers these payment options.
When you setup your ecommerce business with Selz, your customers will automatically have the option to pay with card or Paypal!
8. Determine Shipping Costs
Fast, reliable shipping is a simple, effective way to keep customers coming back to your store.
Shipping costs can make or break a customer’s decision to complete a purchase. In fact, shipping costs are the number one reason why customers abandon carts!
How to Make the most out of Shipping Costs
If you’re starting an ecommerce business, one of the best ways to avoid shopping cart abandonment is to offer free shipping. Don’t panic; you won’t need to offer free shipping on everything – you can be selective. Try no cost shipping on orders above a certain amount (this has the bonus of incentivizing customers to spend more to reach the free shipping level).
Determining the magic price point that will work for your ecommerce business can be challenging. But we’ve got you covered. Check out these 14 pricing strategies for even more insider tips on how to calculate the ideal price for your ecommerce business success.
9. Be Mobile Friendly
Nearly 82 percent of all shoppers using their mobile devices to make at least one purchase last year. Additionally, mobile ecommerce is expected to top $626 BILLION in 2018. Maximize on this money-spending trend when you’re starting an ecommerce business by making sure your business is mobile friendly.
10. Get the Word Out with Digital Marketing
Now that your store is assembled it’s time to begin thinking about how the customer will find you.
Search engines will drive the majority of traffic to your site, but for that to happen the search engine has to be able to find your site. Taking the time to make sure your store is search engine optimized (SEO) is time well-spent when starting an ecommerce business.
It’s time to start thinking about digital marketing strategies, like compelling content and customized domain address.
Starting an ecommerce business doesn’t have to be hard. In fact, it shouldn’t be. With convenient ecommerce platforms like Selz, it has never been easier to pursue your dream of owning your own business.
Remember, you’ll never be successful if you never try.
Ready to get started building your ecommerce business? Sign up for a free 14-day trial of Selz and start setting up your store today! No credit card required.