E-commerce, or online selling, has taken the world by storm. In fact, experts note that growth projections estimate that e-commerce revenues will reach more than $638 billion—pertaining to the U.S. alone—by 2022. With so much potential for revenue and money on the table, it is a smart idea to make your business available online.
But there are plenty of things that you will need to consider, from the products you will be selling, their profitability and marketing tools, down to the right strategies and couriers to tap. All of these will depend on your location, too.
For instance, if your market is in Singapore, or any other part of Asia, you should look for a delivery business based in Singapore. Fortunately, getting started on your online business venture is easier than you might think. Here are some steps in establishing an online business:
What products will you be selling?
Before anything else, it’s crucial that you decide what products you’ll be selling online. You will be working with these products every single day, so choose those you’re passionate about. If you don’t have products on hand, browse through dropshipping providers. They allow you to browse through their product list for items to sell, all in the comfort of your home.
Choose which e-commerce solution to use
This will depend heavily on your budget and expertise, but choosing an e-commerce solution is essential to the success of your online store. You can choose a hosted platform that can house your website. This is best for beginners. A licensed platform can be installed on your computer. Finally, an open-source platform is downloadable. It is where you can build a website from scratch. All will require time and effort, yes, but choosing the right one ensures that operations run smoothly.
Build your store
This will rely heavily on which type of e-commerce solution you’ve chosen. Learning its functionality is tantamount, as this is where you can begin setting up the important pages. Your landing page will be the face of your website, followed by your category and product pages, and then the home page and content pages. Here, your business branding and design should be considered carefully. Think about the colors, brand, and placement of products, creating a lasting impression will do your business wonders.
Choose your domain name
The domain name pertains to the URL or the web address, which allows your customers to locate your online store. This decision is crucial to your business and must not be taken lightly. If possible, choose a domain name that is simple, short, and completely encapsulates your business.
How would you like to get paid?
You’re in business to drive profit, so the next step in building your online store is to figure out how you’ll receive payment. People usually begin with PayPal, but keep in mind that you have the option to accept credit cards directly on your website. This is the preferred payment option for most customers online. Moreover, having a credit card option adds to your credibility and professionalism.
Market and advertise
You will need to generate traffic and gain customers after building your website. This can be done through marketing efforts on social media, through email, and even in the utilization of SEO. Remember that all your efforts will only be repaid once you’ve gained visibility. This part of building an online business should be treated with caution.
While challenging, deciding to sell online can be an enriching and rewarding experience. This is also where the industry is headed, and it’s integral to remain aware of any trend changes. The digital world will only continue to thrive, and so will online selling. It’s best to start now!