Since the start of the Covid-19 pandemic, society has changed a lot and adapted its way of living and transacting. Businesses from all across the globe experience major struggles when they have to close up shop for lockdowns and government restrictions – but there is one industry that not only didn't struggle but boomed in sales and profits; eCommerce. The amount of online sales generated from the start of the pandemic has since multiplied tenfold. Enterprises everywhere have changed their business dynamic entirely to jump on the fast-moving train that is eCommerce. That said, there has never been a better time to open an eCommerce business than now, hence this beginner's guide to starting your own online store.
Even though you won't have a physical store that requires rent, shop-fitting, and utilities, your online store will also need an initial investment in order to get it up and running. The initial investment, which is your startup capital, is one of the trickier aspects to tick off the list of priorities, seeing as you'll need a sum of money that will go directly into your business. If you don't have the money to fund the business directly, think about approaching a potential investor like David Sherrer to partner with and fund the business. An investor is also someone you can learn a lot from, and you'll be able to brainstorm ideas and maximize the business's potential to succeed. You can also apply for a business loan at a bank if you would rather tackle your business alone.
Pretty much the beginning and end of your eCommerce business, your website will have to be flawless. An efficient website should be uncomplicated, fast to load, and easy to navigate by customers. You can build your own website if you feel you have the knowledge and skills – there are many platforms you can utilize to create and launch your website. Suppose you would instead let a professional handle it, consider contracting a software developer. In that case, they are experts in the field and will be able to build a website that meets and exceeds all your expectations. Be sure that your website doesn't have too many steps involved in it – customers aren't going to spend 20 minutes just to order a product but will rather exit the website and look elsewhere.
Your online marketing campaign will determine the number of sales and exposure you receive after initially opening your online store. On the list of priorities when starting your eCommerce business, this should be right up there in the top three. Your online marketing will attract customers and get the word out that your business is up and running, and since your online store is brand new and hasn't already made a name for itself, this is crucial to the success of your business. Online marketing will include paid social media marketing, search engine optimization, and google ads.
By adhering to the above steps and using all the tools available to you, you'll have your online store up and booming in no time.