A to Z of building, launching and growing a successful online store

1. Choose your niche product and marketing strategy

Choosing what you would like to sell is an important decision for you to stand out in the marketplace. eCommerce experts like eBay first started as an online auction house. They understood their target audience, niche product and marketing strategy well. This helped them differentiate from the rest of the competition. Thus, they accelerated their growth with personalized marketing and smooth customer service.

It is also good to do SWOT analysis once you decide on the product and target market. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Doing an in-depth analysis will also help you choose a suitable business model.

2. Define your buyer persona

A buyer’s persona is created when you visualize your target audience and add personality and preference to their persona. The best business ideas are born after an in-depth analysis of your prospective customers. Your SWOT analysis, along with demographic and psychographic data will help you solve customer pain points and ensure higher sales.

3. Setting up your business

The next crucial step is setting up your business. Your eCommerce store should have a unique identity, a stunning logo, and a catchy tagline.

• Naming your business

A short business name that summarises your product/service and facilitates easy brand recall for your customers.

• Choosing a domain name 

An eCommerce website must have a domain name to sell your products online. The process of registering the domain name is quick and straightforward.

•  Creating your logo

Create a stunning and captivating logo that represents who you are and what you stand for. 

4. Choosing an eCommerce store builder 

The varied set of features offered by online store software creators can be overwhelming. Based on your business size and plan, you need to choose the best eCommerce platform that provides you with the maximum ROI. 

You need to look at the long-term plan for your business when choosing the eCommerce platform.  You can assess various store builders and list out the budget plan you would like to invest in the platform.

Posbytz’s eCommerce features

Store Inventory Management Software

Posbytz live inventory view enables you to make quick and valuable decisions on adding or removing inventory. You can immediately analyze the fast-moving product categories and those that take a longer time to sell. Identify the bottlenecks in your supply chain process and optimize your inventory.

Unified commerce solution provider

You can quickly sell your products online and also cover the point of sale activities of your traditional brick and mortar store without having to keep a separate record to keep track of your sales. 

Quick shareable link

You can easily share the link of the product you want to sell to your customers on WhatsApp, Facebook, and Instagram.

5. Determine your delivery/shipping policy

While outlining a business strategy, you need to consider your supply chain process carefully. Choosing the right shipping strategy can increase your customer base in the long run. 

According to Narvar, 83% of online shoppers in the US need to be regularly intimated on their purchases.

While creating a shipping policy, you need to identify whether you are offering a free shipping threshold to capture customer’s attention and encourage more orders to be placed. You also need to scale your market reach while choosing your courier partner. International shipping and domestic shipping price to value ratio differ from each provider.

6. Proactively market your eCommerce store

You need to create an initial momentum for your website to generate traffic. 

• Comprehensive Strategy – Please plan a pre-launch strategy to excite your customers and identify which eCommerce channel will have the best reach for your target audience. You can build teaser videos and build anticipation for your product.

• Influencer marketing – Another great way to create a buzz on the product without bombarding your consumers with advertisements is through influencer marketing. Small businesses can use this to gain visibility in the market and attract product sales.

• Paid advertising – Targeted Facebook, Instagram, and Google Ads can create high brand visibility and increase your incoming traffic to the website.

• Organic strategies – Activities like SEO and Email marketing are generally long term strategies but will make a positive impact if it is actively implemented in your content marketing goals. You can offer discounts or provide personalized coupon discounts to your customer’s inboxes to build loyalty towards your business.

Conclusion

It is important to visualize a clear roadmap before you launch your eCommerce business. The success of an eCommerce store depends on 4 major factors :

(1) Relevance of product and its quality

(2) Performance of website on desktop and mobile

(3) pricing strategy

(4) an optimum delivery/ return experience.

Clearly outlining your goals beforehand will help you create an incredible shopping experience for your customers. Posbytz’s omnichannel experience makes it the best choice for those who want to launch an eCommerce store quickly.

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