The eCommerce world is full of cut-throat competition with people always looking for an edge to get ahead. If you want to turn to eCommerce, as your primary source of business, you need to know that while it’s certainly possible to succeed there, you will need a lot of determination and grit. If done well, however, a successful online business (e.g. store) can completely change your life. If that’s your plan and you want to run a successful online business in the future, here are some important things you need to keep in mind.
1. Do your research.
There is nothing more important than knowing your audience and niche within the eCommerce world. Your customers can make or break your business, so you need to understand them, first, in order to cater to them. Once you figure out what you want to sell in your virtual store, you must then pick an eCommerce platform (of which there are many available). Look at your options and take your time. In his salehoo review, Alex calls the platform – “a good place for beginners to learn the ropes of finding suppliers and products they want to sell online.”
2. Figure out your “why”.
Once you decide on a platform, know what you’re going to sell and to whom, you need to focus on your core values. More specifically, you need to focus on your “why”, as a business. Why does your business exist? Why do you do what it is you do? Hopefully, it’s not just to sell a product or make a profit. Many businesses exist to make people’s lives easier and more convenient, to innovate, and so on. Think about the core of your business that explains the underlying value of what you’re promoting. Remember, people don’t buy what you do, they buy why you do it.
3. Move quick and test everything.
Because eCommerce is a field that changes quickly, you always need to test what works and what doesn’t. Start marketing early and see how your target market reacts. It’s a good idea to set up social media profiles before you launch and start sharing content so that you’re not starting from scratch from Day 1. In other words, don’t underestimate the power of social. According to Shopify, in 2014 eCommerce orders from social network sites increased by 202%. People care about what other people say about your brand. Social proof is important, so make sure you start to develop it early.
4. Start automating.
Automation is the future of eCommerce and one of the most notable technologies in the digital era. It’s a disruptive force that allows entrepreneurs (not only in eCommerce) to save time, money, and other resources. Most importantly, it allows you to focus your time on other more important things. In eCommerce, there’s a lot you can automate, from research to your platform to product fulfillment and other marketing. E-commerce automation allows entrepreneurs to focus their time on marketing the products and reducing the costs to cater to their audience. For other, less important things, it’s a good idea to let the AI take over.
5. Don’t be afraid of learning.
Finally, at the end of the day, don’t be afraid of failure. E-commerce is a very steep in terms of learning curve and tough competition. As a result, there’s a lot of failure within the field. What’s important, though, is how you react and what you gain from it. You’ll definitely make mistakes along the way, a very natural phenomenon. But it’s important to use each of these mistakes as a stepping stone and learn from your experiences. This way, you’re setting yourself up for long-term success and learning a lot as you go.
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