How to Build an E-Commerce Business From Scratch

In this day and age, it is very common to build a business from scratch. Sometimes you get lucky and get that golden opportunity that makes you a millionaire overnight. In other cases, you have to work hard for it, but that’s what life is all about right? Building a solid E-Commerce business from scratch is no easy feat though. There are a lot of things you have to do, and without doing it well, you won’t be able to succeed. Treat this E-Commerce business tutorial as your blueprint for success.

Building a successful e-commerce website that generates regular growth in revenue is quite challenging for most entrepreneurs. Building an eCommerce business is possible when you are faced with so many challenges when starting if you have the right strategies in place. Having an e-commerce business entails many aspects. You must plan on how to get visitors, convert them to customers, interact with them, and retain them, and how to gain access to capital amongst others.

1.Find a Niche and Develop an Offer: Information and Marketing Online

The proper niche selection will assist you in increasing sales volume and income. You need to find a market niche that needs your products or services. The main goal of every business owner is customer satisfaction and during the process of business development, it is vital to pay attention to each customer’s needs. So when choosing a niche for e-commerce development, the selection should be based on your knowledge of the needs of customers in your area of interest. 

 Once you have identified your niche, think about how you can offer something unique that is relevant to their needs and wants. This will help you develop a compelling offer that will make your e-commerce site a destination site for your customers.

Click here to read: How to Start a Business from Scratch: 24 Steps to Becoming Operational

2.Pick the Right Business Model: Keep It Simple

The business model is a term we use to describe the way a business works and makes money. Business models of startups change as they grow – from a small business to a big one. When you choose a model, you need to know how to measure whether it’s the right model.

The first step is to understand that only two main business models exist: a low-cost business and a high-margin business. The first one aims at selling a lot of units with a low margin per unit, the second one on selling few units with a high margin per unit. In e-commerce startups both models are possible, but some industries are more suitable for each one of them. To build a successful startup you must identify which of those two models fits best your industry and the stage your company is in.

3.Build Your E-commerce Website: Design and Branding Online

E-Commerce Website Design and Branding is one of the most crucial steps towards building an e-commerce business. The first thing that needs to be taken care of is the design and branding of your e-commerce website.

Your e-commerce website would ideally need to be designed in such a way that it is:

• Attractive – Buyers tend to trust sites that look good.
• Easy to use – Ease of navigation is also considered as a factor that increases trust.
• Functional – Always test your website with Google Analytics
• Search Engine Friendly – This helps you obtain higher search engine rankings and hence, more traffic through your site.

The other important thing to remember before you start working on your e-commerce website design and branding is to create a unique identity for your brand. So that it can stand out from the crowd and makes its presence felt.

4.Create a Sales Funnel: A Sales-driven Marketing Plan

Building a sales funnel is an essential step for any business. It creates a path from the first point of contact with your company to the point where you make a sale. Marketing funnels are very effective ways of guiding prospects or customers through a funnel, thereby reducing the amount of money you spend on advertising while also increasing the income you receive. Whatever you call it, you should know that it’s not optional. You can’t run an effective business without one.

You should consider all those people who enter your sales funnel as potential customers. The key for your marketing team is to move people from individuals to leads and onwards to customers. It’s not enough just to get traffic to your site and encourage them to sign up for your mailing list – you need to create a plan that converts interested leads into paying customers.

If this seems like a lot of pressure – and it is – then you need to know that this is exactly what marketing people do every day. They build sales funnels for clients, and they’re very good at it, so don’t worry too much if you’re new to this idea.

5.Build an Audience: Web Analytics and Social Media Marketing

Many e-commerce businesses fail because they do not find enough customers or they spend too much money to get those customers. Too often new business owners jump into the fray without really understanding their target audience and what those customers want and need. A successful business meets the expectations of its customers and whose product resonates with its target audience.

When developing your e-commerce business, you first need to determine who your target audience is and how you can reach them. The more segmented you can be, the better. For example, instead of targeting all women’s shoe shoppers online, consider targeting specific niche markets such as wedding shoes or bridal shoes, or athletic shoes for women.

6.Linger to Grow: Content Marketing and SEO

Content marketing and SEO is a crucial step to build an e-commerce business. You must learn how to advertise online to continue to develop your company. If you’re not making significant improvements in gaining brand recognition and website traffic, perhaps it’s time to consider an internet marketing plan.

A few easy measures to assist you with content marketing and SEO are as follows:

• Make sure you know who you’re talking to
• Create a content calendar
• Create different types of content for different platforms
• Use the right keywords when you write content
• Optimize Metadata on social media platforms
• Produce high-quality videos for YouTube channel
• Build your email list with pop-ups and forms on your website

Click here to read: 7 Tips on Running a Successful Virtual Company

How Can You increase Sales in Your E-commerce Store?

1. Offer essential accessories
2. Offer coupon codes
3. Enhance your product descriptions
4. Have multiple base options for each product
5. Offer flexible and easy return policy
6. Provide free shipping and delivery options
7. Be transparent in pricing and payment models
8. Keep your customers updated in terms of shipping and order details
9. Show customer testimonials
10. Create a good customer support system
11. Allow people to contact you easily

Make Sure You Have a Solid Foundation before Building Your E-commerce Business

To have a successful e-commerce business, you first need to have a solid and down-to-earth foundation that can support the business. It is also important for your e-commerce business to be mobile-friendly. Almost everyone uses their mobile devices to search for products or services. If your site is not mobile-friendly, then these potential customers will not be able to find what they are looking for because your site will not load properly.

It is also important for you to make sure that your site has great content which is well written and easy to understand for both new and returning visitors. People like websites with content that helps them make smart buying decisions based on facts instead of emotions. Good content can help increase the number of people who visit your website as well as the number of return visitors who view it regularly.

E-commerce is not just a fad; it is here to stay.