In fact, retail ecommerce sales are expected to reach $3.5 trillion by the end of 2019. It’s estimated that this figure will exceed $4.8 trillion within the next two years.
The Internet has made it possible for businesses to reach and sell to consumers all over the world. But with that said, the ecommerce industry has become a highly competitive space.
There are so many options for people to buy online. Your ecommerce shop is competing with other brands in your category, as well as big box retailers and global giants like Amazon and Walmart.
How can you differentiate yourself and claim your share of this multi-trillion dollar industry?
Do you need to create a better product? Better service? Improve your customer support?
Sure—all of those things help, but that’s not the answer.
Your success in the ecommerce world is directly linked to your marketing efforts. If you know how to market your ecommerce brand correctly, you’ll be able to carve out your market share in this space.
I wrote this post to help anyone with an ecommerce store improve their marketing efforts. I’ll explain how ecommerce is different from other types of marketing, and show you actionable ways to implement the sub-disciplines within the scope of ecommerce marketing.
You already know it will be a success because of your research.
You know for a fact that the pricing will work in your favor.
And with all of that behind us, it’s time to tackle the final part of this eCommerce startup guide: setting up your store.
We’ll get a domain name, set up a content management system, and get the security you need to process transactions online.
You see, this is where most people make their first mistake. They jump into making the store too early.
They start with a clever domain name… that restricts what they can sell later on.
They spend hours adding a CMS… only to realize isn’t designed for eCommerce.
And they get the wrong SSL certificate… and waste hundreds of dollars.
But if you’ve followed this eCommerce store guide all the way through, you’ve done the hard and important work most people ignore. With that in mind, let’s jump into building a profitable eCommerce store that will let you cash out of your hard work.
While this sounds simple, it can be the most complicated step in the process. How you position your brand, find your niche, and marketing involve a reasonable amount of guessing and research. But ultimately, the decision is up to you.
Products, on the other hand, rely on other people (most of the time). This means you’re putting the reputation of your store in their hands.
With a great supplier or manufacturer, it’s not a problem.
But if you aren’t careful, you make huge mistakes that will cost you business.
Thankfully, there are strategies that work. This how to get your product the right way.
If you read the last chapter of this guide, either you already have a list of products you want to sell or you are at least armed with the knowledge to come up with potential ecommerce product ideas and niches.
Now it’s time to get specific and figure out which ideas you can actually build an actual business around.
What type of people is looking to buy your product?
How much will they buy?
How frequently will they buy? Etc…
We’re going to dive deep on different aspects of the potential customers and market opportunities for your product idea to make sure that you are not throwing your money away.
But first—let’s take a broad look at what matters to your store.