Softhunters 50 Tips on How to Start Successful E-commerce Businessby Ashish Malik Owner at Softhunters
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Who does not want to be financially independent?
The majority of people are dreaming of creating their own stable source of income to avoid the stress of being an employee whose destiny largely depends on the boss’ will and success of someone else’s business.
Steady work is great, but many entrepreneurial-minded employees never stop secretly dreaming about quitting their corporate jobs to gain total control of their financial lives by launching their own businesses.
Building an online store can be the right step in the direction of the so much-coveted financial independence. It’s not always the easiest option but building something of our own can be both more rewarding and satisfying than working for someone else’s business.
With the global opportunities provided with the Internet, one does not even need to be able to manufacture or ship a product to build a successful eCommerce business. Some people have managed to build a profitable business without any inventory.
This little research has helped us distill a big chunk of information down to some tried and true entrepreneurial practices you can use to avoid mistakes and boost your online store performance.
Product Idea Tips:
Whatever idea you have you can find a manufacturer in in any part of the world to turn it into a physical product.
Take your time to learn things from other businesses and wait passionately for a great idea before starting your own business.
Do something you enjoy or otherwise, you’ll get burnt out quickly.
Make your product absolutely awesome. This is the best PR.
Research and develop your product based on customer feedback.
Buy your competitors’ products to see their limitations and values. Improve your products based on what you discovered.
7. Be prudent about your partnership and business structure. Multi-member LLCs can be dangerous if every partner has access to the checkbook. You may want to consider the S-Corp formation.
8. Avoid partnering with friends and family as a favor. Do it only if you trust and respect them.
9. Don't give equity unnecessarily. It may cost you more than giving cash in the long run.
10. Sooner or later you will need to hire the following workforce:
11. When partnering with someone, make sure the person cares about the business as much as you do and he/she will keep you motivated even in times of difficulties and stresses.
12. Surround yourself with people who are smarter than you.
Online Store Tips:
13. Choose the eCommerce platform that can easily grow and has minimal customization limitations.
14. Placing pictures of human being on the homepage make customers trust you more. Especially if your product speaks to a person’s identity like fashion, grooming, fitness, makeup etc.
15. Professional website design is essential for gaining the trust of customers, partners, and suppliers.
16. Big, high-quality images create a better shopping mood.
17. Indicate websites that have mentioned or featured you for better credibility. You can do it even if those sites are nothing but local blogs for now.
18. Make sure you have a spot on the homepage for future testimonials.
19. Add some trust elements to the website such as Verisign, SSL Security, Safesite Secure Checkout or simply PayPal logo to indicate security associated with PayPal.
20. If you have some certificates in your industry, make sure to show them on the site.
21. Check what your competitors are doing to build credibility and trust in the eyes of prospects.
22. Indicate your telephone number in the header.
23. Make sure you choose a proper company email to communicate with customers.
24. Good original copy is essential for your success with the search engine traffic.
E-Commerce Marketing Tips:
25. You can start marketing your products on major eCommerce platforms like Amazon and eBay especially if you are a manufacturer.
26. Content marketing (blog/podcast/Youtube Channel) is a must for long-term success.
27. Start promoting your business on social media even before you start selling.
28. Promote your store with the help of popular YouTubers, Instagrammers, and bloggers whose accounts are somehow related to your niche. Look for those who make unboxing videos and reviews of your kind of products, then contact them to find out if you could send some of your items off to them for review.
29. Instagram is especially great for eCommerce businesses in terms of conversions.
30. If your products are not very expensive you can give them out as Christmas presents for people to want more.
31. In case of a subscription business model, show how customers would save if they subscribe for more than one month (e.g. semi-annual and annual subscriptions).
32. Run Social Media Sharing Contests.
33. Ask your happy customers to send you pictures of the products they received and post them on your Facebook. Try to make following you as much fun as possible.
34. Boost your best and noteworthy posts on Facebook.
35. See what other successful companies are doing about content marketing in your niche and follow their proven strategy.
36. Interact with as many people as possible through your business account in social media.
37. Don't get easily discouraged at every step. Be persistent and have a goal in mind.
38. You can cooperate with complementary businesses that do not directly compete with you to repost each other’s content, accept each other’s guest posts in your blogs or buy a post on their website.
39. Article writing, guest posting, and giving products away for review are the most effective SEO strategies for eCommerce businesses.
40. A regularly updated blog is ideal for search engine optimization (SEO) of an eCommerce website.
41. Become a Google Trusted Store
42. Add a live chat to the site.
43. Add an upsell interface to the online store to suggest other products customers might want with the one they added to their cart.
44. Community features, reviews, video resources can add unique value to your business.
45. Offline customer service is another way to boost your sales.
46. Create a Youtube channel explaining how to use your products.
47. Always be nice to your customers to build a positive reputation from the very outset of your business.
Logistics and Inventory Tips:
48. Order goods from wholesale vendors way earlier than you expect them to arrive.
49. Do your best to beat your competition on quality, design, and customer service.
50. Differentiate yourself from the competition in a meaningful way.
51. Learn how to save money before you start your own business. This ability will help you effectively manage company finances.
52. Start saving money as early as possible before launching your eCommerce business.
53. Bootstrapping makes mistakes less costly.
54. If you are failing, fail quickly.
55. Start small and lean and spend some money on advertising to test whether your business is going to be successful.
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Created on Mar 13th 2019 01:50. Viewed 369 times.