Steps to start selling online
Most business owners have a dream of selling online — they see the websites of eBay, Amazon and Etsy and imagine that these sites can generate a steady stream of income without any major investment.
Unfortunately, this is not the case. To succeed in e-commerce, you need to invest in your own online store. Building an online store requires time and knowledge.
The fact is, that many people don’t possess the technical know-how or the creativity required to create their own website. Setting up a successful e-commerce business requires expert guidance to ensure your website design is optimized for conversions.
Here are 7 steps to help plan and start an e-commerce business:
- Choose the type of online business you’d like to start.
- Pick the right product to sell.
- Set up your e-commerce platform.
- Build your store
- Set up payment options for your customers.
- Manage Inventory & Fullfillment
- Promote your store.
Why should you start selling online in 2022?
If you’re still not selling online in 2022, you’re going to be missing out on a lot of business.
Online sales are up by over 15% this year alone, and they’re only going to continue growing. But if you aren’t taking advantage of the opportunity, that means someone else is.
Online sales are on the rise. As of 2019, people spent $4.8 trillion on the Internet, and that number is only going to increase over time. In 2022, it’s estimated that consumers will spend $7.2 trillion online, which is a significant increase from previous years.
The Internet has fundamentally changed the way people shop for products and services by making it easier than ever for buyers to find what they’re looking for and compare prices between different sellers. This has led to an explosion in online shopping as people can now purchase anything from home without having to leave their couch!
But why should you start selling online in 2022? Well…
-It’s the fastest growing channel of e-commerce, and it’s only going to keep growing.
-You can reach more customers and grow your business faster than ever before.
-You can reach customers around the world easily and quickly, making it easier for them to buy from you no matter where they are.
-You’ll save money on storage space, shipping costs, and other overhead expenses if you sell online instead of in person or through traditional retail channels.
But it’s more than just about making more money—it’s also about improving your customer experience and making sure that your brand is associated with quality and trustworthiness.
This is especially important if you’re selling something like jewelry or insurance policies where people might be more hesitant about buying from an unfamiliar source than they would be with something like clothing or food items where there aren’t as many risks involved (although even those kinds of purchases can sometimes go wrong).
Is the Ecommerce market oversaturated 2022?
The ecommerce market is not oversaturated in 2022.
Ecommerce is growing at an unprecedented rate and will continue to grow until at least 2040. It is estimated that the global ecommerce market will grow at a compound annual growth rate (CAGR) of 8.3% from 2017 to 2030, reaching $4.5 trillion by 2030.
This projected growth is driven by three factors: a growing customer base, rising customer demand for both convenience and value, and continued technological advancements that make online shopping more convenient than ever before.
The number of people who shop online has grown dramatically over the past few years, with ecommerce sales in the United States totalling $453 billion in 2017, an increase of $90 billion (25%) over 2016’s numbers.
According to Statista, this trend will continue as more consumers become accustomed to buying products online and prefer it as a method of shopping over traditional brick-and-mortar stores.
While many consumers do prefer buying from physical stores due to convenience and social factors such as being able to try out products before buying them and having other customers around them while shopping, many shoppers still prefer buying from websites because they can compare prices between different retailers more easily than when visiting stores in person
1. Choose the Type of Online Business You’d Like to Start.
Image Source: The balance small business
Choosing the type of ecommerce business you’d like to start is an important decision. While it’s easy to get caught up in trying to find the perfect niche, it pays off to take your time and think about what you really want out of your business.
You’ll want to think about what you’re good at, what you like doing, and how much time you can devote to running your business. For example, if you’re good at graphic design but not so great at marketing or sales, then starting an Etsy shop might be a better option than trying to sell products through your own website.
You’ll also want to consider how much money you have available for starting the business and how much time you can devote on its development.
The more money and time that goes into setting up an ecommerce site, the more likely it is that customers will trust buying from that site—so make sure that whatever path you choose is going to be one where people see value!
There are two different types of ecommerce businesses: B2B and B2C.
Image source: MarketResearch.com
B2B is a business-to-business marketplace, so it’s a site that connects businesses with other businesses. B2C means “business to consumer,” which is a site that reaches out to consumers directly. Both types of sites can be profitable, but they have different advantages and disadvantages.
B2C sites are great for reaching consumers who want to buy products from your brand or business. They can also help you get valuable feedback from customers so you can improve your product offerings or customer service over time.
B2B sites let you sell products directly to other businesses, who may be able to use those products in their own work environments or sell them on their own websites or physical locations.
This type of ecommerce business is great if you want to expand beyond just selling online because it gives you the opportunity to reach new customers in new markets without having to worry about shipping costs or returns—you sell directly to people who need your product!
2. Picking the Right Product To Sell.
Image Source: PISPL
There’s a lot of money to be made selling the right product in the right market. But it’s not just about picking something that you think will sell—it’s about picking something that is going to do well in your particular community and industry.
The key is to look for products with a strong value proposition, which means they offer something that other products don’t. The more unique your product is, the more likely it will sell well. And the more specific your target audience is, the better chance you have of finding people who want it.
Another factor to consider is whether or not you can sell enough of that product at a reasonable price point to make a profit. If you’re going after a niche audience that doesn’t have much money, then you need to charge less than what it would cost someone else who sells similar items at a different price point or volume level.
On the flip side, if you’re trying to sell something expensive but there isn’t much competition in this area (e.g., vintage cars), then you may be able to charge more than usual without losing customers because there aren’t many other options out there yet!
Importance of Product Validation
Product validation is one of the most important steps in the product development process. It is what makes sure that you have a product that people want to buy and use, and it’s what will help you to make sure your business model is sound.
The goal of product validation is to test out your concept with real customers so that you can find out whether or not they’re interested in what you’re offering. If they are, then great! You have a viable business model on your hands.
If they aren’t, then you need to go back to the drawing board and try again until you get it right.
There are two main types of product validation: qualitative and quantitative.
Qualitative is when consumers tell you what they think about your product;
Quantitative is when consumers show their feelings about your product through actions like buying or sharing it on social media networks like Facebook or Twitter (or even just telling their friends about it).
These two types of validation work together hand in hand because they provide different kinds of information about how consumers feel about a certain product or service—and sometimes this information can contradict each other!
How to Validate a Product
Validation is the process of determining whether or not a product is useful to its intended audience. The goal is to understand how the product will be used, how it will be received by users, and what features may need to be changed in order for the product to meet expectations.
There are several ways to validate a product. One way is by interviewing users about their needs, goals, and preferences. Another way is through focus groups or surveys that include open-ended questions about what they would like to see in a product like yours.
You can also perform usability testing on prototypes of your product or even finished products themselves by asking participants questions about using them or giving them scenarios where they might use them.
When conducting interviews or focus groups with customers, you should always have an agenda prepared ahead of time so you’re not wasting time asking questions that don’t provide any information about your product’s value proposition or its potential impact on customer behavior (the latter will become clear once you’ve reviewed the results).
You should also consider using quantitative data from other sources—such as sales data or user feedback from emails sent out before launch—to help guide your development process by validating hypotheses about things like pricing points or features that were added based on user requests during beta testing phases.
Product – Market – Fit and why its important in product Validation
Product market fit is the holy grail of product validation. It’s what you’re looking for, and it can take a long time to get there.
When you’re validating your product idea, you want to make sure that there’s a market for it. You want to know what people will pay for it and how much they’ll pay. You also want to make sure that people want what you’re selling—and not just what’s currently out there on the market.
Product market fit takes into account all of these factors and more. It involves gathering data from potential customers about how much they would pay for the product, the features they think are most important, and their overall satisfaction with its current state.
It may seem like a lot of work, but if you don’t do it right—if you don’t have enough information or if your information isn’t accurate—you could end up wasting valuable time working on a product no one wants.
My steps to validating a product are as follows:
- Go on thingtesting.com and look for a product in any niche.
- Look for a product that has more than 100 reviews.
- Hop onto google trends , look at how many people are searching for that product or rather a problem that the product solves. ( The search volume to be more than 70)
- Second validation is to go on helium 10 and search for that product, see how many units it’s selling per month on amazon.
- Go to amazon.com read the 3 star reviews, see what people are complaining about with the product, see that as your opportunity to solve their pain points. And create your UVP..
- Go to Alibaba and find a reliable supplier. Here is what to look for in a supplier:
What to look for in a Supplier on Alibaba.
- Make sure they have trade assurance and that they are a verified supplier.
- They should have more than 5 years of experience on Alibaba
- They should be a manufacturer not a wholesaler
- Their patent product should be your product
- Are they able to negotiate the price and,
- How quickly do they respond?
- Order a customized sample.
3. Choosing an E-commerce Platform.
Setting up your e-commerce platform is the first step to selling on the Internet. It’s important to know how to do it right, because once you finish setting up your site, it won’t do you any good to have a beautiful online store if customers can’t find it.
There are many different types of platforms available, but they all have some things in common:
-They have a look and feel that matches your brand identity
-They’re easy for customers to navigate
-They allow shoppers to browse items by category or search for keywords
-They offer checkout options that are secure and simple
-They provide customer support via phone and email
Top 3 types of Ecommerce Platforms:
- Shopify: This is a hosted platform that lets you build a store and sell products. You don’t have to install any software on your website, so it’s easy to get started, but you do have to pay monthly fees.
- WordPress: This is open source software that you can download and install on your own website. You’ll need some technical skills to set up the store, but once it’s up, you won’t have to pay anything to use it.
- Magento: This is a shopping cart system with its own dedicated hosting service. It’s not as popular as Shopify or WordPress, but it has some advantages over them—for example, Magento is optimized for ecommerce selling and has more features than other platforms
4.Setting Up Your Online Store
Setting up your online store and designing it can be a daunting task. If you’re not familiar with the ins and outs of e-commerce, it’s easy to get lost in the weeds when you’re trying to figure out where to start. But don’t worry—we’re here to help!
To start, you’ll need a domain name. This is the address that customers will use to find your store online, so think about what words or phrases would be most helpful for them to remember when they think about your business or products.
You might want to include some keywords for SEO purposes, but don’t force yourself into something that doesn’t feel right! You want your customers to feel comfortable with their choice of buying from you, so spend some time thinking about how you want them to feel when they visit your site.
Once you have an idea of what domain name will work best for you, it’s time get started on setting up an e-commerce platform. Shopify is one option; there are many others out there as well (Magento and WooCommerce are two other popular choices).
Choose whichever one feels right for the type of store and product line that you have in mind; just make sure it’s compatible with any shopping carts or payment gateways.
When you use iKon Mall, you can create a store that reflects who you are and what you stand for. When you design your own store, you can make sure it’s the perfect reflection of your brand. Your customers will love it—and they’ll be more likely to trust you and buy from your store.
You’ll also be able to increase conversions by making sure that people can easily find what they’re looking for. You won’t have to worry about having too much clutter on your site, because all of the products are organized into categories so customers can find what they’re looking for quickly and easily.
This is especially important on mobile devices where users are more likely to click away from websites that aren’t easy enough to navigate.
And don’t worry about getting stuck with one design forever: if something needs changing down the line, it’s easy enough to update! Click here to get started with iKon Mall.
5. Set Up Payment Options for Your Customers.
Setting up payment options for your customers is important for several reasons.
First, it helps you get paid faster and more accurately.
Second, it makes your business seem more professional and trustworthy.
Third, it helps you keep track of customer activity and spending habits, which can help you tailor future promotions to their needs.
The first step in setting up payment options is choosing what types of payments you accept—usually this means cash, check, or credit card (and sometimes debit card). It’s also important to decide whether or not you want to offer online shopping as an option and how much of a discount you’ll offer if a customer chooses that option instead.
After deciding what types of payments you’ll accept, choose which ones will be accepted at which locations (for example if you only accept cash at one location but credit cards everywhere else). Finally decide if there are any other requirements such as minimum purchases or specific days when each method can be used.
Once these decisions have been made, make sure all employees are trained on how each payment method works so they can answer any questions from customers who need assistance using them!
If you’re a small business owner, you know the importance of setting up payment options for your customers.
How to set up payment methods?
You know that the more money you can get from customers up front, the better off you’ll be. After all, it takes time and money to complete a project, and if you’re waiting for payment until after the customer is happy with their purchase, you could be losing out on valuable resources—and possibly even getting stiffed by a dissatisfied client!
So how do you set up payment options? It’s easy! Just follow these steps:
- Create an account with Stripe or PayPal—these are two of the most popular payment processing services in the world, so they should be able to handle just about anything.
- Add your bank account information to your account—this will allow your customers to pay their bills directly via check or automatic debit payments, which means no more waiting around for checks to clear before getting paid!
- Create a plan and price list for your customers—it’s important that they understand what they’re paying for before buying anything from you, so make sure it’s clear how much each item costs upfront so there aren’t any surprises down the line when they receive their bill!
6. Manage Inventory & Fulfillment
Image Source: Kizeo Forms
Managing inventory and fulfillment is a critical component of any business. Without the ability to keep track of your stock, you risk losing out on sales, customers and profits.
It’s important to have a good inventory management system in place because it allows you to:
– Know how much stock you have on hand at any given time. This means that you can manage your inventory levels effectively so that you don’t run out of items when customers want them. You’ll also be able to avoid overstocking, which can lead to wasted money or excess inventory that’s not moving quickly enough through your warehouse or even lost altogether if it’s damaged or stored improperly.
– Understand what is selling well, where your customers are buying from, and why they’re buying from you instead of competitors’ stores nearby! This information allows companies like yours to make better decisions about how much stock should be ordered at any given time so that there aren’t any unexpected shortages later down the line (which can mean losing valuable sales opportunities).
– Provide customers with great customer service by making sure they get their orders as quickly as possible so they feel valued by both your company and its competitors too! Making sure things run smoothly requires having everything in place before
The best way to ensure that your product is delivered to your customers in a timely and cost-effective manner is to hire a 3PL.
A good 3PL will be able to handle all of your warehousing needs—from picking, packaging, and shipping to receiving and storing products. A great 3PL will also help streamline your fulfillment processes so that you can avoid costly mistakes and increase efficiency.
What is a 3PL?
A 3PL (third-party logistics provider) is a company that specializes in the transportation and distribution of goods. In other words, a 3PL transports and stores your products for you, so you don’t have to deal with the logistics yourself.
There are several types of 3PLs:
– Warehouse management services use their own facilities to store your products, but they don’t actually ship them out on their own. Instead, they manage the inventory in their warehouse so you can keep track of what’s happening at all times. This type of service may also include picking, packing, sorting and shipping services.
– Transportation management services provide transportation only; they do not handle storage or warehousing services. This type of service is ideal if your company has multiple locations where it needs deliveries made—for example, if one location orders product from another location or if multiple locations order product from a central distribution center.
– Distribution management services provide both transportation and warehousing services; they can be used to distribute products within one facility or between facilities located far apart from each other (like across state lines).
Advantages of using a 3PL?
There are many advantages to using a third-party logistics company (3PL) for your supply chain needs.
A third-party logistics provider offers a wide range of services, including:
Logistics planning and management—a 3PL can help you plan your entire supply chain and manage it effectively so that you can stay on track with your goals.
Warehousing and distribution—a 3PL can provide warehousing space, as well as distribution services that help get products from one place to the next.
Transportation—a 3PL can offer transportation services like trucking, rail, and ocean freight. They also have access to specialized modes of transport such as air freight, which can be useful if you need to move an unusually large shipment or one that requires careful handling.
Inventory management—a 3PL can help track inventory as it moves through its various stages of production and distribution, ensuring that each item gets where it needs to go on time without missing any steps in the process.
The main advantage of using a 3PL is the ability to focus on what matters most: running your business. There are too many details involved with managing your own supply chain for you to be able to do everything yourself properly without being distracted from other important tasks like marketing or CRM etc.
7.Promoting Your Online Store.
As an online store owner, you have a lot to juggle. You have to manage your inventory and make sure all your products are available for purchase in the right quantity and at the right time. You have to keep track of your customers’ orders, so they can get their items quickly and easily. And you have to figure out how to promote your store and get more customers through the door—or at least onto your website.
But it doesn’t have to be hard! We’ve got some tips that will help you promote your online store in no time at all:
1) Get social! Use Facebook and Twitter to announce new products, promotions, or sales. You can also use social media to connect with other businesses in your field who might be interested in carrying your products and give them shout-outs from time to time.
2) Post videos on YouTube about how people use your products—and tag them with relevant keywords so that people searching for those terms will see them! This is a great way of getting free advertising on Google’s search engine too—people searching for a specific phrase might find themselves watching one of your videos instead of looking up information on another site (which could lead them back to yours).
You’ve done it. You’ve finally decided to start selling online, and you can’t wait to get started.
But before you get swept up in the excitement of setting up your online store, there are a few things that you should keep in mind.
First, remember that this is not an easy task. It’s not like setting up an Etsy shop or even a Shopify store—it’s more like building an entire business from scratch. You’ll need to do a lot of research, hire experts if necessary, and learn as much as possible about what goes into running an e-commerce company.
Second, be prepared for failure. Even if everything goes well at first (which it probably won’t), there will be times when it feels like no one is buying your products or services anymore—and maybe they aren’t! That’s just how it goes sometimes when you’re trying something new. So don’t give up! Just keep working hard until you reach your goals!
Thirdly (and most importantly), have fun! Making money is great… but not if it means ruining your quality of life in the process by working too hard or spending too much time away from friends and family members who love them unconditionally no matter what happens with their finances
Emails are still one of the most effective marketing tools to keep in touch with your customers. It’s not expensive and you …
Online shopping becomes the perfect substitute of brick-and-mortar businesses. An industry report projects that, by 2025, approximately 35% of B2C companies and …
Steps to start selling online Most business owners have a dream of selling online — they see the websites of eBay, Amazon …
How To Start With Influencer Marketing 2022 In 2022, influencer marketing has become a well-established and powerful way for brands to reach …