The internet is the modern entrepreneurial platform from which makes great ideas come to life. Many people dream of starting an online business because there are successful businesses that have carved a niche for themselves selling online.
So, where do you start? Here are some basics of selling online.
It’s About The Product
Fundamental to any business is the question of what value you’re bringing to your customers. No one makes a profit without a product that customers love and are willing to buy. Building a great product is just as important as raising finance for your business, even with free online crowdfunding platforms like Plumfund.
Business comes first and the funding comes second. Why? Without a great product or an idea, you’ll be wasting your money and effort. Focus on building a product that online customers are willing to buy at a reasonable price, then tell them about it.
Think About Smart Marketing
Venturing online is perhaps the biggest challenge. With a limited budget and the huge task ahead of marketing your product, smart marketing strategies have to be implemented to achieve positive results.
Think of areas that give you more value for your money. Is it social media that’s working better for you or is it direct marketing? To ensure customers find you, you need to know how they search. What keywords do they use? Is your business website search engine optimized? Does your content reflect this?
According to recent market analytics, e-commerce sales saw a 15.6% growth rate in 2016, and a key driver of this growth has been smart marketing by business owners. Smart marketing involves trying different marketing strategies, implementing what works, monitoring results and fine tuning the process.
Build Trust
How can the customer be sure that they’ll receive their order? You need to build trust, and trust doesn’t come easy. If you have an ecommerce website, have a clear return policy and terms and conditions.
Include photos of you and your business team on your “About Us” page. Join a merchant accreditation scheme like Safer Online Buying or SafeBuy. The trust you build with your online customers becomes the stepping stone for building an impressive reputation online.
Use Proven Technology
Many would-be online business owners make the mistake of focusing too much on technology than getting the business running from the word go. Focus on technology that already works not one that’s a work in progress. Wholesaling on Amazon may also be a good option to try out for newbies.
If you’re starting an ecommerce store, why pay thousands for a bespoke solution that leaves you reliant on the designer? Use a proven e-commerce package that is already working for thousands of other online stores. Don’t invest too much in technology when it’s obvious you need more marketing as an online startup.
Let Your Website Work For You
While you need a website that looks good, remember that a site that’s fast, easy to use and always available is more important. You’ll be surprised by how many ecommerce stores are successful despite having an average website design.
Get A Reliable Online Payment Processor
Selling online means you’ll have to take payments online. Analysts at Dharma Merchant Services advise that businesses need to find the right solutions that allow them to streamline payment processing. It makes sense to team up with a reputable online payment processor.
Go For It
There’s no doubt that selling online takes much more than this. There’s a lot more that business owners need to do to ensure compliance, avoid online fraud and remain relevant in today’s competitive business world. Selling online is worth it. Go for it!