A step-by-step guide to starting an e-commerce business from scratch. With insights from dozens of successful entrepreneurs and e-commerce experts, this article will be your definitive source for information on everything you need to know to start a profitable business
E-Commerce Site vs. Marketplace: Which One Should You Choose
Running your online store means handling the whole process yourself. Managing products, setting up the website, tracking inventory and logistics, making sales, and providing customer service.
Since these take a lot of time and effort, marketplaces are seen as the easier option. Because after you post your products in a marketplace, there is nothing more you need to do. In addition, because these sites are older and more known, they are more trusted by the buyers. Plus, they have high incoming traffic.
Although selling your products in a marketplace seems more effortless, advantageous, there are also some undesirable sides:
- If you sell your products from a third platform in the marketplace, you must pay a commission. So it involves more costs.
- You have no control over matters such as customer service or return policy.
- There is more competition, especially with the marketplace’s products.
So, you need to set lower prices.
What about e-commerce sites? Their advantages include control over the platform and customization. You can organize the style of your website the way you want. And you can decide what kind of shopping experience you are going to offer. You can represent your brand better. Plus, you can implement your sales strategies. You can set campaigns and discounts. You can do behavior analysis. And you can provide direct and personal customer service.
Now, if you have chosen to sell your products in e-commerce, here are five steps to starting an e-commerce business:
Five Steps to Opening an E-Commerce Business
The ecommerce market is arguably one of the fastest growing industries in history. Here are 5 steps to help you get started opening an e-commerce business.
1 – Research for most profitable e-commerce business ideas
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First, you need to decide what kind of business you want to start and what you want to sell. You should research what kind of business you can make a lot of profit in.
It is very important to choose a business that you like. Selling products that you’re interested in will make you more enthusiastic about the products, so you can sell better and make more profit.
When deciding your business idea, be sure to consider today’s conditions and the preferences of today’s consumers. At this point, it is very important that the product you want to sell appeals to today’s buyers. And make sure that a consumer is willing to spend their money on the product you aim to sell.
2 – Find The Righ E-Commerce Packaging Solution
Product packaging is designing and producing the container of the product that will reach the customer. For e-commerce businesses, shipping and order fulfillment are direct contact and connection ways with customers.
Since the packaging of your product affects the shipping cost, it is important to calculate the cost when choosing the right product packaging. To reach the buyer safely with minimum cost, you should determine the required packaging according to the product.
While designing the product package, you can think of the package as a book cover, so it has an important place in the marketing of your product.
3 – Lookup For Legal İssues of E-Commerce Business
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Before starting an e-commerce business, it is important to research legal issues. Your online operations are likely regulated by corporate, copyright, and contract laws, among others. It would be best to manage the challenges that are unique to conducting business operations and transactions in an electronic environment.
Although you do not need to get a law degree, researching legal issues related to your e-commerce business will prevent problems you may experience later.
4- Build an E-commerce Marketing Strategy and Work With An Agency
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There is a lot of competition in e-commerce businesses, so you need to distinguish yourself from your competitors and bring your business to the fore. The strategies you will use for this should be effective to catch people interested in the product you are selling and for those people to find you.
Since consumers use so many channels when purchasing, it is very important to create a strong strategy and consider the customer journey. While doing this, working with an agency gives you an advantage in terms of experience and knowledge.
5- Open Your Website and Start Selling
You are now ready to set up your business and sell your products. Good luck! You are in direct communication with the customers, and the sales process of your products is completely under your control.
