Creating an e-commerce is proving to be a great business idea that attracts each day more entrepreneurs. In the age of digitization, the internet is becoming an ecosystem where users have a parallel and convenient lifestyle where you can shop, learn and interact with other users from the comfort of your own home. So why not launching your own business there?
When creating an e-commerce there are some steps to take into account:
1-. Finding your place in the market: Where are you going to focus, what are you going to sell? Narrowing your scope to find your niche market seems to prove difficult to many entrepreneurs when adventuring in creating an e-commerce. This will help your business be unique and have a different value proposal than any other general online store. For instance, if you want to sell sport equipment, why not focusing in being a mountain sports online retailer? Your audience will acknowledge you as a specialized retailer giving you higher credit for your products and you will be attracting a specific market niche.
A great way of checking if the product you want to sell has a chance to succeed is verifying on Google trends the search volume for it. It is great as you can see the volume of searches since 2004 and the countries and cities where the product is more popular.
2-. Why are you the best? Add value! When creating an e-commerce, try to be in your client’s shoes. What kind of things will make them picking you as their trusted online retailer?
Taking care of the usability of the website, displaying your own product descriptions with great photos and videos, allowing your users to do reviews of the products will make you stand out from your competition. Start conversations with them, listen to their inputs, either positive or negative, they can always help you improve your business.
3-. Work out your inbound strategy (marketing and SEO): It’s time to think how your customers are going to find you. Save time to think about your SEO strategy following the steps we discussed in our past posts: online reviews, word of mouth marketing, user-generated content will help you rank higher in SEO. You can also check out the future trends of online marketing for e-commerce here.
4-. Your site is your window to the world: Your customers are going to see your e-commerce website not only as your showroom but also as an image of you and your corporation. Conveying the spirit of your brand, providing with nice usability and great service are key, this way you will offer real value to your users and you will have a better funnel for conversions.
5-. Make it personal through storytelling: Humans learn, remember, and relate to each other through stories. In fact, 69% of our communications each day involves telling a story. So how can you use the power of storytelling when creating your e-commerce? Storytelling will make users relate to your business and, more importantly, it will increase the conversion rate.
There are different ways of using the power of storytelling but I would suggest either using it on your homepage or on the product pages. Captive your customers’ attention by telling the story of how you started your business on the homepage, or try to connect with your customers telling the story that is behind the product they are about to buy, its origins, who manufactured it if that makes it special.
If you succeed when connecting your customers with your products or with your company, you will see the conversions rising drastically while also growing your users’ trust and engagement.
6-. Detailed and long-term thinking: Developing a long-term e-commerce business requires strategic planning, market positioning and customer segmentation. So make sure you have an answer to the following questions:
- Which are your goals and your objectives?
- What makes you different and how are you going to communicate it?
- Who is your buyer persona?
- How does the market look like today?
- Which pricing will you have on your products?
- How are you going to promote your online store?
- How will you distribute your products?
- How will you support your clients after the purchase?
- Which is your financial plan for the first 3 years?
Planning each step that you are going to take in your e-commerce is key for your e-commerce to survive and get stronger.
7-. Don’t be scared of failure: Becoming an entrepreneur equals being courageous and fearless. Creating an e-commerce and generating jobs is about taking risks, sometimes failing, sometimes succeeding, but always striving. It is about dreams and passion. Usually, it doesn’t work out exactly as you might have imagined. Steve Jobs was fired at his own company and later on he came back to change the world. Do expect hard work, do expect hard times, but if you are passionate about what you are doing, your chances of success will be great.
There is no such thing as impossible, it is just a matter of figuring out how.
This post is also available in: Spanish