10 foolproof ways to create a lucrative eCommerce business from scratch

ecommerce

Starting a lucrative eCommerce business in growing digital marketing era is absolutely not the case of impossible. If you are wondering how to start your eCommerce business, than with right eCommerce plan and suitable eCommerce tools with smart models you will definitely get the place.

To explore the world and get your essential tips to start your business right now

As the eCommerce website boom is already upon us, make sure that you don’t miss even a single thing.

eCommerce BusinessWhat report says:

  • According to the findings of the 2016 report by “Forrester Research”:It was expected that online sale from the eCommerce platform will rise with an average rate of 9.32% annually. And US consumer spending will reach $523 billion online by 2020.
  • Also it was expected that the numbers of consumer browsing for eCommerce business and stores will hit the record with 270 million results.

Before we start, I would like to give you a brief look about What is Ecommerce?

It is a process of online transaction where the service of buying & selling of product is made online. In short, it is an Electronic Commerce and it is amazing that from the last few years the “Online Commerce” or Electronic Commerce has completely exploded on the internet. And also is thriving very much in future. So without wasting your time start building an eCommerce Strategy today and stay focused.

#1 First decide your product/Service

The most important thing is first to decide the product/service you would like to provide to the people.

It requires your passion and without pinpointing the targeted people for whom your service is available there is less possibility that they are most likely to buy from you. 

So you have to decide the right product for the right people knowing who are marketing to, and what you are providing them and how do you do this? And before all building an eCommerce Strategy is equally important.

#2   Your budget must be friendly and must be realistic at the same time

In order to get your venture off the ground, you will have to decide your product budget carefully.

Take time of about few weeks, or about a couple of months, as it generally takes time to start-up and generates any profit for your eCommerce brand. 

Keep yourself motivated in these initiative stages and set a realistic goal.

#3   Fill our inventory with all needed stock

Product must be always available with you so that you can complete order on time.

Today, people go with the things which are in trend. Along with doing you filled inventory you must have stock of appropriate items which are in trend and like by the people.

#4   Understand the market you want to target

When you think to start an eCommerce business, in that case defining your target market is everything. Only getting traffic to your website is just not enough. You must focus on specially chosen/targeted industry. 

It is because you need to know that the people coming to your site with interest and suitable place to buy things/product from you. And for this you must start building an eCommerce Strategy from today now.

#5   Follow your passion

It is as essential as it seems simple, isn’t it?

To win the race of eCommerce business, you have to be passionate enough. Otherwise, you will likely fail.

What entrepreneurship means devote your time, resource and energy as well to the business.

Just if you have the passion about the product you are selling, your motivation will go straight out the window directly.  

Ultimately, when you will feel the sense of passion, your purpose will automatically fulfill by your work. So for this brainstorm the list of things you are passionate about. As a result, this will help you throughout the rest of the process.

#6   Work on some “Keyword” Research

Once you are done with the “Keyword” research, make sure that it’s passion who works alone as a fuel to an eCommerce Business.

As your keyword is decided you need to start with free keyword research tool like UbersuggestDo research on the search volume of your keyword and make sure the data looks realistic.

And most importantly once you start selling your eCommerce brand product, these keyword research will come in handy for your content marketing.

#7   Check out your competition

Every established business or a business you are going to start have their competitors, so before going to decide the product, budget, etc make sure to look closely at your potential competitor.

Today, eCommerce is highly in trend, and several sites have already dominated the space, stick to the fact that you must not give chance/even possible to take them on.

Of course in a new business you will find hurdles to gain the market share, for this you must deal  with the quality of product.

Prior to that, you must know the search volume of the competitors, and by combining  Ubersuggest with SEMrush you will get the maximum collection of data.

#8   Must track the trend

You can’t purely depend on the trends, because the popularity of many products fall & rise without any warning.

In this fluctuated scenario you must follow the Google trends and jump to the trends which shows a consistent upward trend.

Just type the keyword into the “Explore Topic” also you can choose the place where you want to sell your product e.i; focused area or you can click the drop-down box where you will find an option for “Worldwide”.

After that you will get a handy map who showcase the interest from the different parts of the world.

With this holistic information, you can make a decision on your eCommerce niche.

#9   Must Define product & its selling proposition

USP stands for “Unique selling proposition”,  it is the interaction between passion, strength, and market need.

Believe that sometimes the growth of the niche is based upon the USP you use to showcase your business.

It is factor thus that focus your business identity better than others out there, it helps our business to stand out from the rest in the market.

#10  Stay Focused

eCommerce
Digital generated devices on desktop, responsive mock-up with online shop website on screen. All screen graphics are made up.
  • Wherever you are, whatever you do, you need to regularly set up with access to an internet connection day & night.
  • You need to maintain the regularity, as I already mentioned above that the rise & fall of the product happens without any warning.
  • Never underestimate the value expat communities and co-working conditions as everyone depend upon the internet for a continuous touch/communication with you.

 

Today Internet is a wonderful platform to sell your product and grow your business to the stretch. Creating building an eCommerce Strategy is consistently and extremely important for creating a sustainable business.

And today in this blog I have focused on the giving 10 outstanding ways through which you can successfully grow your eCommerce business.

It’s time to take your first step, then get started right away!

 

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About the Author: shiv