July 28, 2020Uncategorized
eCommerce business is growing like never before. The Covid-19 pandemic has shifted consumers behaviour and as a result, online spending has increased. Data gathered by Startups.co.uk showed that during April 2020 five new online businesses were launched every day, a 60% increase from the same period in 2019. Additionally, a recent survey from the ONS showed that over 30% of digital retailers reported a boost in sales during May.
Whether you’ve got an existing bricks and mortar store, or you’re starting completely from scratch, one thing is certain – it’s a great time to tap into eCommerce.
What Are the Benefits of an eCommerce Business?
While eCommerce isn’t without its limitations, the positives far outweigh the negatives. If you haven’t already got a bricks-and-mortar store, you’re going to save a huge amount on rental fees, staff costs, sales equipment and shopfittings. The lower startup cost means you can offer great deals to your customers.
You’re not limited by geographical locations. You can easily expand your reach and customer base, particularly if you choose to offer international shipping – the world will literally be your oyster. Additionally, an eCommerce store is always open. Customers can shop at any time of the day or night, and deciding to add chatbots to social media or webstores means they receive great service around the clock.
How Do I Start an eCommerce Business?
Setting up an eCommerce business is relatively straightforward, but there are a few things to consider before you get started. We’ve got four simple tips to set you in the right direction.
- Do Your Research
Starting a business, or taking an existing business somewhere new, requires planning and research. There might be less to consider than there is with a bricks and mortar store, but you’ll definitely need to think about:
- Your product or service. What are you planning on selling, and how do you know there’s a market for it?
- Your branding. How is your brand going to look? How is it going to sound?
- Your target audience. What is your customer persona, and how are you going to reach them?
- Your competitors. Who are your main competitors, and how are you going to set yourself apart?
- Your pricing. How are you going to stay competitive, but also make a profit?
- Legal requirements. Have you registered your business correctly, and looked into banking necessities?
- Choose Your eCommerce Platform
Choosing the right platform for your eCommerce business is hugely important. If you’re not using a web designer, you’ll need to choose one which is easy to set up – several platforms have templates which can be easily customised. Tech support is an added bonus if you’re not particularly savvy!
You should also consider your customers when picking your platform. Your online store should be easy to navigate and mobile responsive, or you could risk losing customers before they make it to the virtual check-out.
- Choose the Right Technology
It goes without saying that the right technology is essential for a booming eCommerce business. As a minimum, you should have excellent, super-fast broadband or you could end up with slow loading pages and customers losing interest.
Choosing to invest in chatbots is also a great idea. Automated responses mean your customers can have their burning questions answered at any time of day or night. AI is also a brilliant way to capture and analyse a large amount of data. This will give you valuable insights into your customers tastes, behaviour and spending patterns.
- Brush up on Marketing Skills
While you might be saving plenty of money without a bricks-and-mortar store, an eCommerce business doesn’t benefit from natural footfall. You’ll have to work that bit harder to capture your customers attention, and then bring them into your store.
Improve your marketing skills by learning valuable SEO techniques for your website and social media copy. Utilising this can help to drive traffic towards your website, turning visitors into customers. Establish a good social media strategy, by identifying which platforms will work best for you and then posting regularly. The right content can help you to build your business, increase your reach and boost brand awareness.