1. Look For An Idea With Possibilities
Today, the e-commerce sector is very established, which means that there is competition in any type of product you can imagine. But don’t let this put you off: e-commerce is still growing, so you can surely find your niche.
You just need a good idea.
You can consider running a new online business or work with a type of products already established but make your store stand out from the competition in some way.
Therefore, the first step is to write down all the ideas that you can think of for your online store. You can brainstorm, or just watch people’s behaviour and see what you can think of.
Then, you will have to make a filter to keep the most promising ideas and evaluate their feasibility :
- What user problem does this idea solve?
- What other ways are there to meet this need? Why do I think mine could work better?
- Is there a real demand around this problem? (To get an idea, you can consult tools such as Google Trends to get an idea of the volume of searches it generates).
- What challenges and difficulties can arise?
2. Plan
The first factor that will help you stand out from the competition is good planning. And is that although several online stores are launched every day, not all have designed a solid business strategy before jumping into the pool.
Therefore, if you want your ecommerce to work, you have to spend some time thinking and writing aspects such as:
- What is the value proposition of your online store?
- What is the target audience ( buyer persona )?
- How are you going to manage logistical aspects, such as stock or shipments?
- What channels are you going to promote it on?
- What are your running costs and sources of income going to be?
Using this strategy as a basis, you can prepare a more detailed action plan, specifying aspects such as:
- The providers they are going to use: at a minimum, you will have to hire a hosting, a provider and e-commerce software, as well as decide which shipping company or companies to use.
- The name of your online store: you can choose a descriptive name and domain or a brand name, but always try to make them easy to pronounce and remember.
- Your brand image: here come design aspects such as the logo or colours, but also deeper questions about your mission, vision and values.
- The promotion strategy: a physical store is instantly visible, but e-commerce requires an initial effort to position in search engines and be present in other channels. In short, you will need to promote your e-commerce with an online marketing strategy.
3. Be Patient
An online store is a long-term bet. You will have to make yourself known little by little, promoting your store in different channels and generating traffic, leads and finally repeated purchases. Think in terms of annual planning and develop a solid growth strategy. You will see how the effort is worth it!
4. Measure, Analyze And Test
In reality, all online marketing should be based on constant trial and error. Think of your online store as a testing ground where you can experiment with different strategies. Which channel generates the most conversions? What is the most effective landing page? Constantly measure the results of what you are doing and apply the results to your ecommerce to multiply your sales.
Also Read: What Is Ecommerce And Types, Pros & Cons Of E-commerce Business Model?
