Build your ecommerce website now!
If you find yourself thinking more and more about opening an online store, but you don’t know exactly where to start, this article contains expert advice from our ecommerce website building team, so that you can transform your dream into a succesful and profitable business.
Every year, 30% of entrepreneurs choose to move their business from the physical world into the virtual one. However, this also means you are trying to tap into an extremely competitive environment. So, what are the steps you need to take in order to make sure you’ll be successful from the very start?
If you’ve been toying around with the idea of opening an ecommerce website, we are sure you already have a product in mind. No matter if it’s something you are manufacturing yourself or something you are purchasing from a wholesale site to sell for a profit, your store must begin with an extensive analysis of the market and it’s target audience. Ask yourself: are there already other stores selling the same product? How original is your approach? Who are your clients and, most of all, is there any demand for your product?
Agreeing upon a price is the most difficult part of starting a business. If you’re selling below the market’s price point you might end up loosing money or barely braking even. If you’re marking it up, you won’t have a big volume of sales, therefore, you’re again risking loosing money. In order to figure out what the ideal price point is, make sure you take into account your costs: production, sourcing, payment processor’s fee, delivery costs and marketing budget. Only after adding up all these parameters you will be able to come up with an accurate price and decide what your share should be.
A big number of entrepreneurs spend too little or not enough time researching the legal aspects of an ecommerce website. For example, an online clothing store does not require specific authorizations, but if you’re planning to sell perfumes you must check first with a lawyer or an expert who can advise you regarding local regulations. More so, keep in mind that there are specific laws and procedures when it comes to e-mail marketing, returns, storing personal information etc.
How will you be delivering your product to your customers? Maybe your first impulse is leaving the shipping charge up to your clients, which is what a lot of online stores choose to do. However, it is important to know that over 44% of shoppers have reported abandoning their cart after being informed about extra shipping charges. Therefore, consider offering free shipping at least for a certain amount spent or allow for a flat shipping fee.
Ask yourself: “What will my clients tell their friends after making a purchase from my store? I bought this product from ____________” The dotted line is your ecommerce website name. Some useful advice:
– Do not go for something longer than 3 words. You want to make it easier for your customers to remember your brand.
– Avoid cutsy names, they make your brand look like it’s lacking professionalism
– Be wary of unfortunate associations of names. Your website domain will not have spaces, so think about the way your name will look in a URL. And then think about these businesses: Pen Island (www.penisland.net) or Experts Exchange (www.expertsexchange.com). You get where we’re going.
6. WEB DESIGN
There are plenty of ecommerce website platforms that can ease up your design process. It might be tempting to choose a random theme yourself and upload your products, but, in order to be successful, your website must fulfill multiple requirements: easy to use interface, ability to support a big number of users at the same time, possibility to update/remove content, stock inventory and more. Designing an e-commerce website will prove expensive as it entails complex knowledge and abilities. But keep in mind it will always beat the price of a physical store (rent, deposits, commissions etc.)
7. PAYMENT METHODS
Make sure you do an in-depth research of all the payment processors. Choose the most known ones but don’t forget to contact them in order to possibly negotiate processing fees. Don’t forget about PayPal either, as this is an extremely poplar services for the majority of online shoppers.
You’re all set. You’ve got a great brand, a trademark, high quality products and unbeatable prices. You can start selling, no? Not quite. Customers will not just magically drop into your store. Marketing is crucial if you want to stay in business and make a profit. The advantage of an online store is that all online marketing services will work if they are implemented correctly. From AdWords, to SEO, to Facebook or press appearances. Chose an agency that can help you increase your visibility and reach your sales targets. BrandLocked offers this service at a promo price starting from 200 euros/month.
Are you looking into opening an online business? BrandLocked will help you fulfill your dream. We offer ecommerce website and set-up solutions from 300 euros an we will work by your side providing web design services, online marketing, branding and more. All tailored to your budget and goals. Contact us here