In June 2021, over 440,000 businesses were launched , making it a record high since the start of the pandemic in March 2020.
Many are focusing on ecommerce businesses, as they offer an easier point of entry. There's no physical space to scope out, rent to pay, or permits to obtain. However, that doesn't mean starting an online business is a piece of cake.
Learn what it takes to start an ecommerce business and the steps to start one today.
Your website is your storefront – you don't want potential customers arriving, looking around, and walking right out.
Think of your website title and meta description as your window display. You want the description to be enticing enough to beat out the competition and get users to click on your website.
Your homepage is the first thing visitors see when they land (or walk in). What will you present to make them keep scrolling? Maybe it's your latest offer or a striking image from your latest campaign, or perhaps it's a simple but compelling CTA that will invite curiosity.
Users should be able to navigate your site seamlessly with little friction. That requires a lot of planning, designing, and iterating.
Just as you would take time to curate every section of your store, be sure to give that same care with your website. Every section should have a clear goal and lead users to your desired action.
A first impression can last and can be hard to change – so make sure it's a good one.
We've already mentioned the importance of designing your website with care and intention.
Now, let's get into the elements that will make up your website: your copy and visual elements, such as images and videos.
Your creative assets can make or break your brand perception. Don't believe me? Look at insurance company The General.
The company recently rebranded and revamped its entire marketing strategy because the public doubted the brand's credibility due to its perceived low-budget ads. They even addressed it in a commercial.
All this to say that it's vital that you invest in high-quality visuals as they will be a representation of your brand.
As for your copy, this is important to ensure every message you are putting out is driving the action you want. Otherwise, you may get visitors to your site but not get them to convert. If you don't feel equipped to take this on yourself, hire a copywriter who specializes in your industry.
For your visual assets, you can:
Think of social media as a high-traffic area you want your store to be in.
Social media is one of the biggest discovery points for ecommerce brands, aside from search. If you post content where your audience lives online, you can help them discover your company and build a strong community of brand loyalists.
If you're doing it right, social media gets them interested in your brand, your website gets them to stick around and move to that next step in the buyer's journey.
Many ecommerce brands struggle with customer service.
They often have a small team that's unable to manage large volumes of requests from customers. One way to combat this is by offering helpful resources to current and prospective customers so they can the answers they need quickly.
After running your business for a while, you may notice that you get the same questions repeatedly. This is a clear sign that customers are experiencing friction on your site and need more support. FAQ and knowledge base pages are great ways to address that.
An FAQ section will not only be great for SEO, but also address your visitors' most pressing questions. A knowledge base will help your customers troubleshoot and solve their issues on their own.
This will also allow your team to focus on addressing more important issues instead of fielding simple requests.
On the topic of customer service, automation is the name of the game.
There are many ways to automate interactions in a way that leads them further down the buyer's journey. For instance, you could set up a chatbot that is designed to answer common questions from website visitors.
Automation can also look like:
If you have a workflow in place, there's probably a way to automate it.
As an ecommerce business, you want to maximize your reach and be everywhere your audience lives.
You may have some customers who shop directly from your store on your website. However, you may have some who shop exclusively on Amazon or Etsy.
To maximize your earning potential, sell your products on multiple marketplaces, as long as they align with your target audience and product.
The best ideas stem from personal experience.
Maybe you experienced friction when completing a task and figured out a way to streamline it. Or perhaps you thought of a product that would make your life 10 times simpler.
Wherever the inspiration comes from, it's definitely worth exploring.
If you're having trouble coming up with an idea, try the SCAMPER method for brainstorming:
These options give you the freedom of developing something without the pressure of starting from scratch.
Once you identify a product or service, you have to validate it.
The hard truth is that not every idea is sustainable for a business. In this stage, you want to make sure that there's an audience for it and a need in the market.
How do you accomplish this? There are a few ways:
This stage is the one that may take the longest.
You'll need to figure out manufacturing, sourcing, packaging, shipping, pricing – all of the -ings.
The process you follow will all depend on your business type and industry. For instance, if you are developing a new product, that will involve a lot more steps than if you are white labeling (the process of purchasing products from a supplier and marketing it under your brand).
Need more help on this? Read this article on the product development process.
Once you have a clear understanding of your business and what it offers, you must come up with a name.
When it comes to naming your business, here are a few tips to keep in mind:
After submitting your business name to your state department, you'll also want to apply for an employee identification number (EIN) for tax purposes.
Lastly, do you need any permits and licenses to operate? Be sure to speak with a professional about the rules and regulations in your state and submit proper documentation before launching your business.
Now that the legal details are all covered, you can get to the fun part: Building your brand.
This step is key as it will influence how you market your brand to your target audience. In this step, you'll need to ask yourself a few questions:
From there, you can start working on your brand logo, colors, tone, and other creative assets that reflect your identity.
Developing a strong online presence will be instrumental to the success of your ecommerce business. As such, you want to start early.
It's easy to find and buy a domain online. Top domain sites include:
Many site builders, like Squarespace and Wix, and most hosting platforms also allow you to buy your domains directly from them. That way, the site that owns your domain will be the same one where you host your ecommerce site.
The internet is full of ecommerce platforms, each offering different features and benefits.
To start, determine the level of customization you want. There are four categories of ecommerce platforms you can choose from:
To decide, look at what your timeline and what you want to accomplish. Pre-built websites make it easy to build an ecommerce site quickly. However, they're not very customizable and can be limiting.
On the flip side, there are fully customizable platforms that offer a lot but can take much longer to set up.
Top features to look for in an ecommerce platform include:
The last step before launching your business is developing a pre- and post-launch strategy.
The idea behind a pre-launch strategy is to get your target audience excited about your product or service before it's available. If done right, you'll have a line of customers waiting to try out your products.
A post-launch strategy is a more long-term marketing strategy that involves tying your business objectives to specific marketing goals, such as building brand awareness and acquiring more leads.
Your marketing strategy should also account for audiences at all stages of the buyer's journey. If you focus too much on the top of the funnel, you won't be able to convert leads into customers. If you focus on the bottom of the funnel, you won't be able to attract new customers to your business.
In 2022, building an ecommerce business is more accessible than it's ever been. If you follow the steps outlined above, you'll have your company up and running in no time.
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