Tuesday, July 01, 2014
Starting an online store is as difficult as starting a brick-and-mortar store. Right from choosing what to sell to how to sell, you have to take 1001 decisions. In this article, we are going to help you do primary homework for your new upcoming eCommerce store.
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| Profitable eCommerce Business |
The first and foremost step toward building a successful online business is to decide what to sell. If you are having any hobby or you are passionate about a particular product, starting a business around it is a good idea. However, if you don’t have any such passions, you should look for what’s trending and what’s likely to survive for years. Also, while choosing the product, you should consider your financial resources and from where you are going to source it.
Research
The next step is to research your competition. You should know what they are selling, where they are selling and at what price they are selling. If possible, you should also know how they are targeting the customers. If you have this last piece of information, it will become very easy for you to tap into your competitors’ customer base.
Planning
Once you are aware of what you have to sell and how are your competitors selling, you have to plan a strategy. Your business plan should clearly mention from where you are going to source the products, how you are going to target your audience, how you are going to market the products, and so on. Each and every aspect of your business should be spelled out for better execution.
Setting Up
The next step is to register your business. To register your business, you have to find a suitable name. Also, the name you have decided upon should be available because if the domain for that name is unavailable, the name would be useless for you.
After the name is decided, you need to create a logo. The logo should be unique and attractive, and should reflect your business. If you are selling sunglasses, having a logo with sunglasses would make sense.
You will also need to register your business with the concerned authority. If you are registering as a private limited company, it’s better to hire a lawyer. But if you are registering as a sole proprietor, just go to the government office and ask the procedure there.
Building Store
Once you have registered and set up your business legally, it’s time to set the business online too. To build a store, you will need to select design and layout, add product images and descriptions, highlight the special products and offer unique relevant content to the users. If you are selling products directly from the website, you will need to add a payment gateway too.
Search Engine Optimization
After the store is set, you will need to optimize it to attract organic traffic. And to optimize the store, you should know the basics of how search engines work. There’s lot of material available on this topic on the Internet but if you are still confused, it’s better to go for expert services.
Launch
The last step to start an online business is to launch the store, and to launch the store, you will need to advertisement and market the store to let your target audience know that you are open for business. You will need to have a strategy for paid marketing to attain desired footfalls. You can even have marketing campaign.
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