How to open a successful e-commerce business?

How to open a successful e-commerce business?

How to open a successful e-commerce business?
How to open a successful e-commerce business?

Times have changed, and more people want to be the bosses of themselves at work and the only ones responsible for their future.

Here, the Internet played a big role in facilitating the achievement of this goal, as e-commerce is one of the projects that has met with great popularity and acceptance among people. However, it can be difficult to know how to start a truly successful e-commerce business that generates the profits you want.

There is a lot of information you need to know before starting. Here, the matter of developing a clear action plan becomes a necessity to set the priorities and identify the necessary resources during the development of the project plan.

In the Learn Today article, we will present to you a comprehensive guide that represents a simple and honest approach to how to open a successful e-commerce business, in addition to many practical advice for those wishing to open an online store and take their first steps on the path to entrepreneurship on the Internet.

What are the success factors for an e-commerce project?

When asked this question, the following factors are likely to occur to you:

Cool and impressive web design.
Outstanding customer service.
 High quality images to display the products.

Unique selling offers. What you're thinking is certainly true, as you, of course, have to provide excellent customer service to succeed. You also need an attractive and reliable website in order to bring customers to it and encourage them to complete the purchase process from it. However, you have to take into account that what truly guarantees the success of your e-commerce business is the interaction of all these factors together.

Combining these is what will take your project 10 steps forward instead of just one. This is what many new entrepreneurs fail to achieve, so we see them forget the most important aspects, and focus on building the ideal design for their online store, only to close it after a few months! Sales are the main fuel that fuels your online store, so raising sales must be at the heart of your project plan. All efforts to increase web traffic to your site through marketing campaigns will inevitably increase your sales, which in turn will bring you more traffic as well.

Likewise, you must first achieve good sales before you start thinking about providing excellent customer service, and before deciding on your unique brand voice. Achieving sales is the first step to the success of any business ... If you cannot make sales, then you are finished even before you start.

The first step in setting up an e-commerce business

 While it is really cool to start your internet business with a lot of big ideas, it is actually best to put your grandiose ambitions aside at the beginning and focus on the most practical and effective steps in your business plan.
You first need a middleman to sell your products online.

Opening a simple online store on a well-known selling platform like Shopify serves this goal well. It may take you more than 30 minutes to complete this process on the site, but always pay attention to the amount of time you spend in the beginning ... Do not exaggerate, and always remember a quote given by Reed Hoffman, co-founder of the famous site LinkedIn:
If you are not embarrassed by the first version of your product, then you have launched your project too late.
This applies to e-commerce businesses as well. The secret is to quickly launch your project, and then start thinking about ways to bring in sales through the e-marketing process. This gives you the opportunity to develop and improve other aspects of the project.
 Once you start your own business, use the following list, to ensure that you have covered all the important aspects in the process of establishing your online store:
1- Find the right product

If you are new to the world of e-commerce, you may now be wondering in search of the right product to sell. In fact, this question is the biggest obstacle and the greatest reason that prevents many people from starting their own e-business.

In fact, you have to be strategic in identifying at least one product or several modern products that are difficult to find in traditional stores or popular e-commerce sites such as Amazon, as neglecting this matter and choosing general products such as jewelry or books will lead to a dead end, due to the presence of Many of the leading companies and online stores that meet the customers' need of these products.

Instead, you should think about specific products that capture the interest of a specific audience. Try the following:
List the potential products that you may want to sell on your online store.
Think of products that interest you, your family, or your friends.
You can ask them what they would like to buy in an online store.
Check out the various sales websites on the Internet like Pinterest, Etsy or even Instagram, or their Facebook selling pages.
Inspiration is everywhere if you research well, and you can always confirm whether selling a product is a good idea or not by searching for it on Google Trends.
When you reach this stage, you have to think about how to find the source of your products, and here Dropshipping may be a viable option in your online store business plan.

2- Find other e-commerce businesses around you
Research is an important factor in the success of your online store. Once you choose your products, immediately take a look at what your competitors are doing. Are they investing a lot in advertising?

Or are they following various other marketing strategies?

Knowing how much effort and money you need to invest in startups may change your motivation to sell certain products, lead you to select better products to sell, and give you a deeper understanding of how to start a successful small business on the Internet.
 Here are some of the things you should focus on when researching your e-commerce competitors:
What is their business model?
 Do they sell different products or do they only focus on one product?
 What social media platforms do they use to market their products.
What is their target market?
How do they market their products (paid ads on social media platforms, SEO techniques, email marketing ... etc)?
 How does their audience interact with them and how loyal are they?
Answering these questions will give you a general idea of ​​your competitors and help you to form and build a strong business plan that will guarantee you the success you aspire to be.

Second step: build your online store
After you've chosen the products you want, and researched and investigated your competitors, now is the time to really start building your online store.

1- Choose the appropriate content management tools
Choosing the right content management tools like Shopify makes it easy to set up your online store. Such sites provide many ready-made Templates to start with, which do not need a dedicated programming or development team.

Take care of the following in this regard:
Choose a topic that suits your target audience.
 Set prices that reflect the success you aspire to be.
Choose a unique name for your store that will ensure your customers will always remember it.
Create a unique logo ... Remember you can be creative and creative without any limits.

2- Confirm the ordering and purchasing process
When your online store is ready to receive orders, be sure to test the ordering and buying process to make sure it runs smoothly and without any problems.
  Eliminate any secondary steps that may prolong the purchase process, and focus on only requiring the information necessary to complete the payment and ship to the customer's address.

3- Market your store and products smartly

Second step: build your online store
After you've chosen the products you want, and researched and investigated your competitors, now is the time to really start building your online store.

1- Choose the appropriate content management tools
Choosing the right content management tools like Shopify makes it easy to set up your online store. Such sites provide many ready-made Templates to start with, which do not need a dedicated programming or development team.

Take care of the following in this regard:
Choose a topic that suits your target audience.
 Set prices that reflect the success you aspire to be.
Choose a unique name for your store that will ensure your customers will always remember it.
Create a unique logo ... Remember you can be creative and creative without any limits.

2- Confirm the ordering and purchasing process
When your online store is ready to receive orders, be sure to test the ordering and buying process to make sure it runs smoothly and without any problems.
  Eliminate any secondary steps that may prolong the purchase process, and focus on only requiring the information necessary to complete the payment and ship to the customer's address.

3- Market your store and products smartly
After you have opened your own online store and are ready to start selling, it is time for advertising.
110% focus on online marketing for your store! All else can wait until you are sure you can bring in store traffic and reach potential customers.
 The secret in e-marketing lies in finding the right marketing platform for a specific product and then developing your marketing strategy so that the cost of bringing a new customer becomes less than the selling price of a single sale ... Then you should strive to stay in this cycle in which you spend less than you earn each day.

- Reinvest your earnings
Also, be sure to reinvest all of your profits into marketing and advertising. It's still too early to save a profit. It is important to constantly monitor the relationship between profits and the amounts spent on the e-marketing process.
- Set reasonable prices for your products
Since digital marketing can cost a lot of money, you have to set appropriate prices for your products in order not to lose. Remember: an investment of $ 100 should return you with sales of at least $ 101, as a minimum, otherwise your project will be a failure.
Focus on short-term marketing strategies
In the beginning of your e-commerce business, you should focus on marketing strategies that bring you instant sales and achieve the profit you need.
 Unless you have a large marketing budget, avoid resorting to long-term marketing plans such as SEO or email marketing at this stage.
 Instead, try Facebook direct marketing or paid ads on Adwords.
Learn from others and their marketing methods on these platforms or other newer methods of marketing.

The third step: make your online store successful
After you have successfully built your online store, and through the right marketing strategies, you have been able to start making sales and profits, you must now move to the next stage, which is the success of the store and raising its profits. Here are some tips and steps to help you achieve this:
1- Customer Service
45% of American customers will abandon the purchase process if their inquiries are not answered or their complaints dealt with quickly.
Therefore, outstanding customer service is an important factor in ensuring the long-term success of your business. So make sure to provide appropriate self-service content, and a detailed FAQ page.
 Provide live chat service for customer service, and encourage them to provide reviews and feedback for the products they purchase. Most of all, you build mutual trust with your audience.
All of these things will give your online store a strong testament to the quality of your services, and create a base of loyal customers who will always return to your store.
 And those whose cost of acquisition is 5 times less than the cost of attracting new clients.

2- Conversion Optimization
As much as 69% of visitors to your online store may leave it without purchasing any product.
Imagine how much your profits would increase if you could get this percentage to buy, instead of losing them?
Make sure to improve the customer's journey in your store, and increase the percentage of their conversion to the purchase process, by:
Offers and discounts for a limited time.
Incomplete purchases reminders. Cart Abandonment Email.
 Retargeting Campaigns targeting customers who have previously visited your store without purchasing any product.

3- Store Optimization
Keep in mind that 44% of online shoppers will tell their friends and family about their experience shopping from your store.
So once you've laid the foundations for your online store, optimizing your website becomes the most important next step. Take care of the following:
Increase the speed of your website.
Use a seamless navigation bar between website pages. Create attractive product pages. Show similar or related products.
Ensure that your website appears appropriately on mobile screens.
Improved search feature in the store.

4- Good inventory management
The best-selling products tend to run out quickly, which is why it is essential to manage your product inventory efficiently. Always look for new products that keep driving traffic to your online store. Don't rely solely on a specific set of products to earn all the money. Instead showcase the latest products to your past customers, and test how popular the new products are with Google Trends.

From the above, we find that e-commerce, albeit easier than traditional commerce, also needs a lot of preparation and planning. The better you plan in the early stages, the easier it will be after that.

 Do not hesitate, and do not worry about having the perfect product, or the perfect design for your store, instead focus on the important aspects of marketing strategies and acquiring new customers, as these are the two things that will bring you the sales and profit that you aspire to.

 And after you are able to build an acceptable base of customers and customers, you can then move to the next stage of improving the appearance of the site, designing products and others.

If you have more questions about e-commerce, do not hesitate to write them in the comments below so that we will answer them through new articles, and do not forget to register on our site to receive all new ones.