So you want to make money by selling products on the internet via online marketing. And we are not talking about marketing someone else’s product or business or dropping a few affiliate links. No, we are talking about building an entire virtual online store-branded products, real-life merchandise, lifelong customers — all with you in charge of this.
That is e-commerce. Skip the brick and mortar models. Forget of having to deal with the huge upfront physical retails costs businesses. In a world dominated by big giants like Amazon, the future of e-commerce lies in online sales.
In 2012, there was a girl at 22 years old, she had $24 in her bank account. But she was ready to hustle, and that is what she did, building a multimillion-dollar enterprise called SkinnyMe Tea that brought in $600,000 per month after only four months of startup. She did not stop there, either. Gretta went on to launch businesses after businesses, creating The Fifth Watches, Drop Bottle, Nichify, and Hey, and generating in millions of dollars.
In order to make the most of this entrepreneurial endeavor, take some time to carefully plan everything out before starting. Learn how to start an e-commerce business, and you will be generating a steady stream of revenue in a legal and efficient manner before you know it.
1. Choose Your Product
Many people get into e-commerce because they have great ideas of business that beckon to them. Others get tripped up on the very first step: How to choose a product to sell in the online market.
If that is you, do not despair. While picking an e-commerce product is the first step, it is also one of the hardest to pick the product. Hard, however, does not mean impossible. If you learn the right tactics, ways and put in the work, you can do it. Here is how to choose a product to sell in your e-commerce store.
The key is to flip your way of thinking: The real question is not, “What should I sell to make money?” The real question is, What do others need that they will pay money for? Switch your mind from me, me, me to them, them, them. That is how you will win.
2.Develop a great Business Plan
Finding an e-commerce idea you believe in is one thing. Finding an e-commerce idea others believe in is another thing entirely. If you have done that, congratulate yourself. It is a big win! With an idea in hand ready, you need a trusted brand. Figuring out to go from a neat idea to a real store can be overwhelming. A business which is offering health products might be bold and energetic. A company that is making toys for children might try for nurturing and welcoming. Above of all, a good brand persona is always consistent brand persona, like Apple is always sleek and innovative, Cards Against Humanity is always edgy and irreverent, Raising Cane’s is always hyped about their One Love, chicken fingers. Your brand is not a person, but you can draw on the personality traits you identify to shape your name, logo, marketing, etc. Starting an e-commerce business from scratch means coming up with every element of its branding. Of those elements, your store name and logo are some of the most important.
3. Get Familiarized with Word Press
WordPress is a practical and a very useful platform for SME’s owners. It offers a variety of easy ways to use and customizable templates for you to build an e-commerce site.
Before starting your business, you have to make sure how WordPress works; especially its various plug-ins and tools. Among other things, these plug-ins facilitate online payments, email marketing, document management, and a plethora of other functions. If you are a one-man army, you will have to handle this aspect of your online business.
You can start learning to the functions of Word Press by setting up a free website. One thing you should note that all the advanced features will not be there for use in a free version for that there will always be a subscription or a fixed fee. You can still get an idea of how to update your site and how to modify it with a little practice word press is not a rocket science anyone can learn it easily.
4. Google Tools
As an e-commerce or online business owner, knowing who is visiting on your website and how they behave once they arrive is very important to your success because this analysis will let you know and help in improving your move regularly. Content management system (CMS) is a tool that will help you to know the number of visitors on your website and this a common tool. With the help of many other Google tools, you can improve your business with your own self.
Some of the tools are Google Analytics, Google Search Console, Google’s Keyword Tool and Google My Business. These tools also play a vital role in digital marketing. With the help of such tools, you can generate a huge traffic.
5. Finding the right payment Service Provider
The most important element of getting an e-commerce business up and going is setting up a reliable merchant account. Without this you cannot run your business because you would not have a medium to charge payments online from your customers, it’s simply impossible to run an online or e-commerce business. This is not only you who want to be on the safe side in terms of payments it is a customer as well wants to be secure with payments and information. So make sure that your PCI DSS compliant, assists you with chargeback prevention.
6. Understanding Online Legal Landscape
An important thing to keep in mind always is that an e-commerce site, just like a brick and mortar business, is subject to a variety of legal regulations and before you get too far into the game, make sure you understand your responsibilities. Name of the business or company must be under copyright umbrella and you should be aware of any licenses and taxes for which you are responsible. There may be the customer from any part of the world so you need to be alert in those case for taxes and may be other privacy rules and regulations.
It is an exciting endeavor to start up a business online on your own, and it is easier than ever with the internet at your fingertips. Remember about the numerous free tools available online, because they will help you as you and your company grow faster.
Here iPayTotal will play a vital role by providing e-Commerce Merchant Accounts for worldwide online business. Get engaged in prudent planning make the most of what you have to offer in the world of e-commerce with iPayTotal.
To know more about e-Commerce Merchant Accounts, Give us a call at +44 800 776 5988 or get in touch with us through our website