When you’re first starting out, starting your own online store can seem like a confusing process. There are so many details to take care of – do you have the right website? Who should you partner up with? How much inventory should you start out with? Luckily, we’re giving you 8 easy steps that will help get your store off the ground.
Researching Your Product
You need to come up with a unique product name and create your packaging. Others may see it as common, but when you’re the only one to have that product, it will set you apart. You’ll want to do some market research in the areas and conduct thorough research on the products you intend to sell, as well as those that are competing with yours.
You can find this information by looking at other websites and reading reviews of items on eBay, Amazon, and Etsy. This will also give you a better idea of what customers are searching for when using these websites, which will help you determine if your product falls within their needs.
Finding a Niche
The only options you have in the past were to either sell products from a catalogue or find a location with enough space to house all your inventory. Identifying your niche is an important step in starting an online store. You need to find a focus for your online store, what you are selling, and who you sell to. If you offer too many different things, it will be too difficult for potential customers to find what they need.
Designing your Online Store
Your online store is your shopfront, and it’s important to ensure that it reflects the products and values you hope to convey. These 10 steps will help you design a high-converting online store for your business.
There are many things to consider when designing your online store, including the colors and design. The design of your store is one of the most important considerations, as it is an integral part of the customer’s shopping experience. Colours also play a role in how customers feel about your store. For example, most people associate red with passion and anger, which could push them away from your store.
There are several steps you need to take before opening your online store, including the creation of a domain name, shopping cart, website design and social media accounts. It’s also important to find a good developer who can help you with the technical aspects of the project.
Pricing and marketing
Pricing is a critical step in the process of starting an online store. This means not only how much profit you can make, but also how successful your product will be in the market.
Of course, to make a sale you will need to do more than simply offer a product at a bargain price. To mask any likely skepticism from potential customers, you’ll want to provide them with your transparency when it comes to shipping costs and/or additional costs that may come up in the purchasing process.
You can price your product based on the cost of production and markup that you want to make. A simple example would be, if your cost of goods is $100 and your desired markup is 100% then you would price it at $200. Your customers will pay $100 for what you made and you will get an additional $100 in profit.
What to expect after launch day?
It’s important to have an idea of what can happen after launch day. You’ll need to have the website fully optimized, have a plan for marketing your products, and be ready to generate content. This will help you build momentum for your business.
One of the most crucial aspects of your post-launch success is online reviews. They not only offer a third-party perspective on your company, but they can encourage future customers to choose you over your competitors.
While it’s tempting to do nothing after your launch day, you should continue to promote and engage with your audience. Promotion and engagement is like a plant: If you stop watering or take care of it, it will eventually die.
If you’re looking to get started in the world of online selling but not sure how to start. Drop us a message or give us a call and we can get you started on the right foot!