In simple words, E-commerce is the process of buying or selling products on online platforms through the internet. The growth of this industry has increased by 28% in the past few years. With the development in technology the future of E-commerce is enormously booming in India and is expected to reach a high market size by the year 2025.
Undoubtedly, this is the best field where you can kick start your business. In case you are new to this industry, here are a few key points to keep in mind while starting your career in e-commerce.
FIND YOUR NICHE
The first step to follow before launching your website is to find out which products you want to sell. What are you going to provide to your customers? How is your business unique from your competitors? Why should people purchase your products? These are some of the questions you should ask yourself. Once you have the answers come up with a clear-cut business model on how you are going to source your products according to the set budget.
Now that you have a business model, find out your target audience who would be interested in your products. For instance, if you are launching a website for cosmetic products your target audience would be ladies from age 18 plus. Finding your audience will give an idea of how you can brand your business.
RESEARCH ABOUT YOUR COMPETITORS
The next step would be to research your competitor’s websites. When it comes to online sales, there would be a dozen of competitors who aspire to reach the top of the scale. Pick out the five best competitor websites and do a clear analysis from when they launched their business and how they reached the top level. This may provide you with an outlook on how you can set your future goals for your business.
REGISTER YOUR BUSINESS
Select a name for your business or brand. Apply for the relevant license and register your business which is essential to operate legally within your state, Please note this will dioffer depending where your business is regietered or operating. In case the e-commerce website is home-based or a showroom the business owners must apply for a locality occupation permit to legally function in that area. Some permits needed are: professional and trade licenses, sales tax permits, building, and construction permits. For more information, you can visit the state or local government website.
SELECT A PLATFORM
By now you will have a vision for your business model after all this researches. You can select various platforms for launching your website based on your budget. Some of the best e-commerce platforms are: Shopify, Magento, Woocommerce, Bigcommerce, Squarespace, Wix. These platforms have all the in-built features, making it easier to set up a website and also save a lot of time for the user.
MARKET YOUR BRAND
Once your business is on the go and running successfully, the next step is to promote your brand via advertising or marketing. Digital marketing plays a very significant role in the e-commerce industry. The number of traffic, number of revisits on your website, and return on investment must regularly be monitored. With the help of digital marketing, your business can grow day by day and you can establish your brand name.
The above-mentioned points are the pathway for you to create a successful e-commerce business. Here are a few points to keep your e-commerce business running:
Provide excellent customer service:
A major point every customer expects is excellent customer service. Show your customers that you care about their happiness. Good service assures customers that your products are worth buying.
Introduce new products:
Focus on selling one product at the start of your business and as your sale grows introduce new products. Keep launching new products now and then and attract various other audiences. This is a perfect method to expand your brand to a wider level.
Seasonal sale offers, Gift vouchers, Reward cards, buy one get one free, are the words that attract customers. Keep in mind to offer your customers the best deals to shop at your online store