In the modern day, more and more people are entering into entrepreneurship through running an online store or e-commerce site to sell a product or service. According to the latest stats there are currently more than 750,000 e-commerce companies globally, so it is a very workable business model and these sites and companies can become very successful.
Although it is one of the best ways to get into entrepreneurship, it is not always easy, especially when you are just getting started. There are a lot of things to do and consider to give yourself the best chance of success. In this blog post we will focus on four tips to successfully start an Ecommerce Business that you might not think of before starting your company.
1: Marketing Strategy
2: Choose The Right Platform
3: The Legal Considerations
4: Site Design and Responsiveness
1: MARKETING STRATEGY
As with running any sort of business in the ultra-competitive modern day landscape, marketing is very important for an e-commerce company. There are many different ways to market a company, but because e-commerce companies exist online, digital marketing and social media is incredibly important.
You will need to optimize your website for search engines, and should have an active social media account for your company, where you occasionally post some deals or promotional codes. You will also need to track activity in your store and see what marketing methods are leading to sales and which are not being quite as effective.
2: CHOOSE THE RIGHT PLATFORM
Choosing your platform is arguably the most important part of running your e-commerce platform. E-commerce hosting is vital to the success of your business, and there are a variety of platforms to choose from. You should look for one that allows for multiple currencies, shows real-time reporting and offers customer service options to your visitors. These are some of the variety of features to look for.
The one you eventually choose will be one that fits your business in terms of features, volume, and price. For example, a blogger or other content/service-heavy site will often have very different needs than a product-heavy website that is selling and shipping products across the world.
3: THE LEGAL CONSIDERATIONS
Running an e-commerce business is just like running any business; there is a lot of legal work to do. There are selections of legal difficulties that you will need to tackle on your journey to success with e-commerce. You might be aware of some of them, but some you may not know about.
These include things like ensuring you have necessary licenses and permits, as well as ensuring you are not infringing on any patents or trademarks. You will also need to be aware of any taxes, fees or restrictions you might be subject to in your locality too.
4: SITE DESIGN AND RESPONSIVENESS
While the products and/or content are the most important thing about your e-commerce site and business, don’t underestimate how important the look of your website is. Most people will make a first impression about your site or store nearly instantly, and a lot of that has to do with the look and design of your site.
Not only does it need to look good and be easy to navigate, it also needs to work well on the plethora of available devices. Many people use their phone or tablet as their primary browsing tool, so your site needs to look and respond great wherever your potential customer is viewing it from. The store also shouldn’t be slow, because if it is, people will often lose patience relatively quickly and you could lose customers to competitors.