How to start a successful eCommerce business
Ecommerce is all the rage today and more and more people are figuring out ways to capitalize on this technology to create successful businesses. You may also have an idea in mind that requires you to set up an online business. In order to ensure the success of your eCommerce venture, and help you avoid the common pitfalls that a number of entrepreneurs fall victim to.
Figure out your domain for ecommerce business
You can practically sell anything on the internet as long as its sale is not illegal, and as long as you have the logistics in place to ensure timely delivery to your buyers, irrespective of what you are selling, you can make a successful business out of it. But first you need to find a niche for yourself. Are you planning on selling a little bit of everything, or specific products from a very select market? Keep in mind that the more diverse inventory you set up, the more will be your initial investment. So pick your niche accordingly.
Make sure that you are different from the rest
There are thousands of online shopping portals out there, if not more, for every popular domain and if you are starting an ecommerce business, then you need to have a plan in place to ensure that your website offers something extra. Avoid claiming to offer the cheapest service, since not only will it hurt your profit margin, if a large player exists in the sector, then they will easily outlast your business even when they operate at a loss for a while. Great customer care, fast delivery, and hard to find objects are better strategies for distinguishing your brand.
Stay on the safe side of technology
As an eCommerce platform, you want to give your website all the advantages that a new technology can offer, but at the same time you need to be aware that an under development technology also means that there will be a lot of bugs. You may not want to miss out on a great opportunity, but being one of the first to use a new technology is not a very safe route either. Remember, your business is to sell product, and not make innovations in the field of web technology. A tried and tested technology is always a safer bet, and you can always move to the newer technology once it has become well established. A popular technology will have a lot of experts, which means that hiring developers and maintenance staff for your website will be a lot cheaper.
Make your services easier to use
Not enough attention is given to the usability of a web service. Most business owners obsess over a unique design too much, but a great looking website that you cannot use without getting irritated is going to turn away potential customers. The fewer clicks that it takes a visitor to convert into a customer, the better your website is going to perform. Do away with all the clutter, and make your website simple to look at and even simpler to use.