eCommerce Website is common phenomenon in mind of new age entrepreneurs.
Before moving further i would like to ask you one simple question.
What are some most popular trends on internet going on….????
There will be many in your mind or may be few in your mind.
If we look at statistics most common activities on the Internet are Social Networking, Email, Online-Video, Content Search etc.
We have provided one list of statistics over here which provides statistics Regarding eCommerce World.
B2C e-commerce sales worldwide
Number of digital shoppers in the U.S.
ø B2C e-commerce sales per digital buyer
Consumer electronics most likely to be purchased via showrooming
B2C e-commerce volume in the U.S.
B2B e-commerce volume in the U.S.
Retail e-commerce sales in the U.S.
Quarterly visitors to Amazon Sites in the U.S.
Mobile retail commerce revenue in the U.S.
Number of mobile buyers in the U.S.
B2C m-commerce sales in the U.S.
Yehhh…! eCommerce World is quite big.
The word eCommerce stands for Electronic Commerce.
Through eCommerce website (Popular word is Shopping Sites), People are buying products such as services to a simple shoes to high level branded cars.
eCommerce has too much potential in it through which you can shop from any place at any time. Isn’t it amazing….!!!!
Before starting any Business we must have aware about the every facets of that particular Business. So lets know about each facets of eCommerce Website.
Part #1 Going big or Small
Again a simple question, do you have a big seed capital to invest or have small seed capital to be invested to your business..?
Going big with larger seed capital gives you a fly Startup. I don’t mean that it’s an ultimate tool of Success. after all your product will give you the result.
However big seed capital helps your eCommerce websites to catch the attention of the audience little smoother.
Starting with a small seed capital is of course a tough task. you may not be able to increase a big cost of professionals or team for Marketing. It’ll make your way little bit hard, but don’t get down.
However I’ve seen few start ups putting little seed capital and today its doing well. My client and owner of Musicstores.in is the best example.
For the Businessman having small seed capital:
- Focus more on Market Segment.
- Focus on Marketing stretegis.
- Relay more on Internet Marketing. It’s less costly..!!
- Try to sell on Platforms like Flipcart, Amazone, Snapdeal as well.
Part #2 Focus on Solution:
Money is necessary but not everything. after all your product should be valuable for the customers.
Utility of your product should be easy to obtain.
The best way to sell your product is to make customer realize about the existence of the problem.
Once your customer realize that problem actually exists then it would be easy to convince them for your product as a solution of that problem.
Banners should visualize problem and your product as a solution. Don’t try to push product into market with aggressive marketing.
Part #3 Design that attract eye
Design of your eCommerce website should reflect the product that you are selling.
Design is the Gateway from where you can encourage your targeted customer to go into detail.
- According to statistics 41% sales are happening through mobile.
- So make design your website in such a way that can be compatible in all the devices(i.e. Mobile, Tablet, Laptop etc.)
Developing application for android is an added flavor to your taste.
Part #4 Conversion that matters
Easiest process of checkout can increase rate of conversion from your visitors.
Complex or lengthy process of your checkout can bore your customer. Try to avoid many steps and just adopt only those which are really necessary.
Avoid page Reloading on checkout. Ajax, one-page checkout can have better conversion rate then standard 5 or 6 page length checkout.
Allow guest only checkout.
The detailed description on Technical Aspect (checkout process)will be discussed in next post.
Part #5 Make your Product Premium
Your product can be of premium price. But your product can be, not necessarily of premium price.
There is an an orthodox thinking of many entrepreneur of selling their product with tactic “More Business with low price.” but nowadays this tactic don’t work much more.
Nowadays, people think of services and added benefits on product.
If your product has something potential or something advance then the market then your customer would like to pay you some extra bucks.
The benefits of making your product premium is….
- You’ll look like any authority: You are charging premium that means you are expert in your field.(It’s an assumption…!!!)
- Service Enhancement: If you have small number of client then undoubtedly you can deliver at your best.
- Your Reputation will Grows: If you have delivered your work successfully to your client then definitely he’ll get back to you on the basis of your previous work as well as he’ll recommend you to others too.These all will done just on the basis of your Reputation…!!!
Part #6 Learn from others Mistakes:
- Its necessary to learn from the mistakes.
- But see,life is too short to do every mistake and learn from it.So be smart and learn from others mistakes.
“Average people learn from their mistakes. Smart people learn from other people’s mistakes.“
Part #7 Right Targeting : Marketing
Targeting right audience is the root of Marketing.
No matters how impressive you are and how effective your product is as compared to your competitors product, unless you promote it properly.
If you failed to do so then you will be out of the game in short time.
There are some regular check you need to do.
Make SEO friendly eCommerce website. all open source shopping carts and CMS are already SEO friendly. however it needs to tune up a bit to make it perfect meta with your business.
Strong branding in terms of logo, Social profile.
Stay connected with your customer on social network with continuous posting.
Continuous blogging can be helpful to you to guide tremendous traffic towards your eCommerce websites.
Detailed marketing strategies are shown on the upcoming post.
Part #8 Cash is King
Always remember that Cash is King in the market..!
You can’t trust economy, If today you are generating good revenue from the business then no one knows there may be sudden Breakdown.
So always conserve your Capital for the bad time.
Work like a slave. Especially if you are founder or co-founder in startup then you can not afford high salaried employee. Hence you have to work out 60+ hours per week if you want success.
Don’t buy expensive office furniture instead of that you can take it on rent.!!!
eCommerce website has tremendous opportunities. Just you need to look after them.
Taking care of errors can lead you to be a next better eCommerce brand in the Market.
At the end, i would love to hear comments from you, Can you share some of errors or mistakes you have done or some of your friends or the person who you know has been done in early days of startups…????
Love to discuss more about it.