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<\/div>\nMuch of the choice can be lumped into a few categories, with convenience and price being the dominant motivators.<\/p>\n
The increasing variety of products available online also drives Ecommerce growth. Physical products we once felt we had to buy in person, your customers can conveniently buy online now.<\/p>\n
You can find everything from eyeglasses to food, cars, industrial equipment, and property, online. It\u2019s that variety and convenience that drives most people to go online first when it\u2019s time to shop.<\/p>\n
In fact, more than 65% of customers do product research online before setting foot in a physical store<\/a>. Then many of them wind up purchasing the product online anyway.<\/p>\n And they\u2019re don\u2019t just from major incumbent brands. Customers visit thousands of Ecommerce stores of all types and sizes. You can have a specialty store that sell a single product. Or you can have a larger selection and sell on multiple sites.<\/p>\n The technology available today has made Ecommerce a win for both customers and entrepreneurs.<\/p>\n Customers love the convenience, prices, speed, and accessibility to virtually any product from anywhere. Startups benefit from a connected world that gives them every opportunity to compete on level ground with even the largest retail brands.<\/p>\n It\u2019s never too late to get started. Here\u2019s how to build an Ecommerce business and get a share of what customers spend online.<\/p>\n <\/p>\n Contents<\/p>\n The first step to building an Ecommerce business is to know what products you want to sell. If you already have a product in mind, then you\u2019re off to a good start. If not, get ready for one of the most challenging parts of launching an Ecommerce business.<\/p>\n Because having a product idea isn\u2019t enough. You have to know whether or not your product is going to sell well enough to grow your business.<\/p>\n When you\u2019re deciding on what to sell expect to spend a fair bit of time doing research. This includes:<\/p>\n If you know you want to start an Ecommerce business but you\u2019re stuck on what to sell, slow down. Don\u2019t get caught in the loop of endlessly searching random products online.<\/p>\n Here\u2019s a list of places to turn to for business ideas and inspiration:<\/p>\n Once you\u2019ve chosen what to sell and you\u2019ve determined the product is viable\/profitable the real work begins. It\u2019s time to decide how to position the product online and who you\u2019re going to sell to.<\/p>\n The competitive research mentioned above wasn\u2019t just for product selection. In order to make your business stand out, you need to know what\u2019s already out there.<\/p>\n Of the millions of Ecommerce stores in existence today (and more opening every day), only 650,000 generate more than $1,000 annually. More stores should be doing well given that 79% of Americans now shop online<\/a>.<\/p>\n But many Ecommerce stores have issues in two areas. They can\u2019t answer the question \u201cwhy?\u201d, and they don\u2019t do enough to make themselves visible online.<\/p>\n In order to profit and grow, customers need to be able to find your store among a sea of competitors. If they do find your store, why should they buy from you instead of a competitor?<\/p>\n Decide what you want to be for your customers. Build a brand around that and let it define your unique selling proposition (USP).<\/p>\n Beardbrand is a great example of this: In a rapidly growing niche market, the company built a brand around a lifestyle.<\/p>\n \u201cI wanted to unite these groups of guys and show the world that you can be stylish, professional, be a normal dude, and have a beard,\u201d says Eric Bandholz<\/a>, co-founder of Beardbrand. \u201cAt the time that was a very foreign concept, so I established Beardbrand as a way to unite Urban Beardsmen and give them the tools they needed to feel confident about their beards.\u201d<\/p><\/blockquote>\n The company\u2019s consistent approach has helped them become a household name, pulling in over $100k\/month<\/a> in a booming and increasingly competitive market.<\/p>\n Your research will help you determine how to differentiate against competitors. You\u2019ll also understand how to position your brand to appeal to your target audience.<\/p>\n There\u2019s no shortage of ways to sell products online. You\u2019ll need to decide which sales channels are best for getting your products in front of customers.<\/p>\n If you\u2019re launching a new Ecommerce business, you likely don\u2019t have the resources or funding to build an online store from scratch. Thankfully, you don\u2019t have to. There are a number of channels and options for your Ecommerce store.<\/p>\n One of the easiest and most popular options is using a 3rd party Ecommerce platform to host your store. Platforms like BigCommerce offer simple, easy-to-launch stores. All you need to do is configure, plug in your products, and you\u2019re ready go.<\/p>\n More content platforms and website services are offering Ecommerce integration than ever before. These integrations are typically easy to setup and, in many cases, cost very little compared to Ecommerce platforms. In some cases, the Ecommerce plugins are free.<\/p>\n Plugins like WooCommerce<\/a> for WordPress sites, or the Ecommerce functionality offered with site tools like Wix, make it easy to build an Ecommerce website with a store.<\/p>\n An online marketplace is a low-cost solution that makes it easy to setup a store. While you don\u2019t have the benefit of standing out and establishing a brand, you do benefit from the traffic already using that marketplace.<\/p>\n Millions of vendors list and sell products on marketplaces like Amazon, eBay, Etsy, and more.<\/p>\n Most importantly, you don\u2019t have to do one or the other. Multi-channel commerce is growing in popularity. More online retailers sell products on their own sites and marketplaces like Amazon to maximize visibility and reach among their target audiences.<\/p>\n It\u2019s a smart move when you consider Amazon held a 49.1% share of retail Ecommerce<\/a> in the U.S. in 2018.<\/p>\n Don’t Let Your Inventory Become a Liability:<\/strong> Poor inventory accuracy can cause late orders that lead to negative reviews for your Ecommerce store. Learn how Logiwa integrates with the technology in your warehouse and automatically updates your inventory across all of your channels.<\/a><\/p>\n Deciding on your product\u2019s retail price is important because if you\u2019re not profiting then your business won\u2019t last long. There are three common retail pricing strategies<\/a>:<\/p>\n You\u2019ll need to determine the best pricing strategy for your business. Ideally, the strategy you choose covers your operating costs with a margin of profit while also keeping your customers happy.<\/p>\n It\u2019s easy to get caught agonizing over design and layout choices for your store. Rather than over analyze every minor detail of your store\u2019s design, just get it launched.<\/p>\n \u201cDone is better than perfect\u201d is a maxim for you if you\u2019re prone to spending hours tweaking minor details forever. In order to get your Ecommerce store launched you need to get out of your own way.<\/p>\n You have no idea what impact minor details have on the customer\u2019s shopping experience<\/a> pre-launch. Wait until your store is live and you have real visitor and customer data. Then you can start A\/B testing your store<\/a> and product pages to improve conversions.<\/p>\n Getting launched is easiest for those using Ecommerce platforms since you can choose a theme, apply it, and your site is visually (and functionally) ready to launch. All that\u2019s left is loading your products and content.<\/p>\n You don\u2019t want to agonize over minor design details. However, you do want to be conscious of design and functional elements that negatively impact the shopping experience. You can address some of the top reasons for shopping cart abandonment<\/a> (when customers add a product to their cart but leave without purchasing) while building your Ecommerce store.<\/p>\n Here\u2019s how you can address the top friction points that drive customers away<\/a> from online stores:<\/p>\n Not enough shipping options<\/strong> \u2013 If you\u2019re not shipping something that requires special handling, try to offer more shipping and carrier options.<\/p>\n Confusing navigation or checkout process<\/strong> \u2013 Reduce the number of clicks it takes to get to order completion and only require information vital to taking the customer\u2019s order.<\/p>\n Concerns about site or payment security<\/strong> \u2013 Include security logos for your payment gateway and HTTPS encryption certification.<\/p>\n Forced to create an account<\/strong> \u2013 Always offer a guest checkout option, with the option to register their account at the end of checkout.<\/p>\n\n
Figure Out What You\u2019re Selling<\/h2>\n
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Don\u2019t Know What to Sell? Take Your Time And Figure It Out<\/h3>\n
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Create a Unique Space in Ecommerce for Your Brand<\/h2>\n
Decide Where You\u2019ll Sell Your Products Online<\/h2>\n
Ecommerce platforms<\/h3>\n
![\"Bigcommerce](\"https:\/\/lh6.googleusercontent.com\/YdEjY9Do8AdpcZjPdEbPSXKfNF-R1bwmtG-H83K2aXdamYzkd83CAue0LNsqAe8pOUnp6qQtmtssTo0rw73qrHPIdGD-MdRYh9EQbbpCtDofnZFoMgLaCaORw1rCLeRH4_mgIGk7\")
Ecommerce Integration<\/h3>\n
Online Marketplaces<\/h3>\n
What Will You Charge for Your Products?<\/h2>\n
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Build Your Store and Upload Your Products<\/h2>\n
Know the Friction Points That Make Your Shoppers Scatter<\/h3>\n
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