How to start an online store? A question that pops up in my inbox on a daily basis. Often the person who e-mails me already knows a couple of things, or signed up for something or started a small online store already. Unfortunately I often find out they start their online store in the wrong sequence.
For that reason EcommerceIncome presents today (drumroll):
“The five steps for successfully starting an online store!“
Step 1: Enlarge your basic knowledge of online stores
Without a good basic grounding of what an online store is, it is nearly impossible to start a successful online store.
You will have to continuously make decisions in the following steps. Without a sound basic knowledge you will probably not make the right decisions.
Tip: Start with reading through EcommerceInome, we have loads of relevant info for you! 😉
Step 2: Find Products and Suppliers
When you have collected a lot of information about online stores it is time for the real work. Finding great products and a good supplier or drop ship supplier.
Tip: Look for products with a good profit margin with a selling price of above 60 USD / 40 GBP (otherwise the profit per product is still very low).
Step 3: Bringing your Store Online
Only when you have a product and supplier the software, the store’s structure and design becomes important.
Look at which software suits your needs. Don’t right-away start with the most complicated package (unless you have enough learning time available) but do choose for a “solid online store”. Make sure your customers can easily pay via various payment methods, choose a good shipping company and let service be an integrated part of your company.
Tip: Don’t be economical about this step but do make sure your online store will be online as fast as possible! Step 4 is in fact much more important.
Step 4: E-Commerce Marketing
When you have set up a great online store the real work starts! When you will sit back and wait until the orders start rolling in you can wait for a long time. You will have to take care of the marketing now!
Tip: Aim on SEO (ranking higher in search engines) and start with some long keywords (it is easier to rank higher for those keywords because there is less competition than for short keywords).
Step 5: Repeat Step 4 Infinitely
Many e-commerce entrepreneurs like to “build” things. They enjoy working on their online store and products. Don’t forget, however, that step 4 can bring you the most success!
Some people can be busy for many hours with working on the logos of their payment provider or shipping company. But will that really bring a higher conversion? I don’t think so! Better focus on ways of attracting more visitors.
Only when you have more than 200 visitors per day you can occupy yourself with such small improvements!
What I find out from people is that they often start with step 3 to then go back to step 2 and when that was succesful they get stuck with step 1. Step 4 is not looked at at all. While step 4 in fact is the most important and complex step!