In the age of eCommerce, there is a unique opportunity to bring your product to the market, find your buyers, and grow your business.
However, starting a successful e-Commerce business requires some considerations on your part. Here are five things you need to know before taking the plunge.
#1: Know What You’re Selling
Before setting up your online business, you’ll need to do some research and answer a few questions. Ask yourself if you have a defined product or line of products, and are they are in demand?
You’ll need to do some competitive research so that you know if your product is already widely available and exactly how many people are selling it. It’s vital to gauge how saturated a market is and how you can stand out from the competition.
Does your product fall into an existing category, or is it completely new? If your product is unique, be sure to set up the correct intellectual property protections before you go live.
#2: Know How You’re Shipping it
An essential aspect of your eCommerce business is knowing how you will ship your product. You can sell directly to consumers through your own site or as a third party on an eCommerce site, so you will need to determine if you will be shipping directly to them as well.
You can handle shipments yourself by using a company like reliablecouriers.com, or you can let a distributor handle it.
If you decide to ship through a distributor or drop-ship vendor, you’ll also need to think about who will handle the fulfillment of your orders.
The answers to these questions are important, so think about them before you start selling your product online – this will save you time and stress down the road.
#3: Know Who You’re Selling To
Defining who your customers are and knowing what they need is a crucial step in the process. While many people struggle with what their product is in the initial phase, most people don’t consider who they are selling it to and why someone would want it.
This essential information is what will drive your advertising and how you present your product online, which will ultimately determine how many sales you make.
#4: Understand Your Packaging
Before the era of eCommerce, manufacturers used to focus on beautiful packaging that enticed their consumers to buy their products.
Now, the way the packaging looks is not as important – the priority is if a product ships well. For products sold exclusively online, it’s vital to make sure your packaging can be shipped.
Many retailers have guidelines on how to design packaging for eCommerce platforms, or you can take an online packaging design course to streamline the package development process.
#5: Determine Your Marketing Strategy
Decide early on if you will be selling your product exclusively online or if traditional stores will also carry it. If you are only selling online, consider whether you’ll sell your product on your own website, on an eCommerce platform, or a combination of both.
Think about the best fit for your product. For instance, if your product is handmade, the demand for art and crafts is mainly on sites like Etsy. It’s important to decide whether you will be selling via a third party or if you will sell directly to an online retailer or consumer.
