Are you eager to start a side hustle or even create a full-time income selling items online? eCommerce lets you build a virtual storefront where you can choose what you sell and who you’d like to attract to your store.
Selling online has many advantages, such as flexibility, low startup cost (compared to physical businesses), and freedom to work anywhere in the world. We’ll cover practical tips to help you build a thriving eCommerce store.
1. Find A Reliable Manufacturer
No matter what item you’re selling, finding the proper manufacturer requires a lot of research. Even if you have the best marketing campaigns and strategy, a poor customer experience can quickly derail your business. Low-quality products or slow shipping times are common reasons for dissatisfied customers.
For example, suppose you were starting a print-on-demand eCommerce business. In that case, a manufacturer like The/Studio can create custom-designed products on swag and clothing to help your products stand out from competitors.
2. Choose The Right Market Or Niche
Choosing a specific niche or market tells customers what type of products you specialize in or which type of people you serve. For example, weight loss products serve a very broad audience. Adding a niche market, such as weight loss products for postnatal mothers, will allow you to separate yourself and become the industry leader in a specific market. This will also help if you’re selling something specific like gifts for 50-year-olds because this way customers will feel a more personalized approach.
When choosing a niche market, the key is to analyze the trends, find keywords and study your competition. Ensure you’re keeping up with the eCommerce trends, so you’re aware of what’s currently working in the marketplace. The more you understand the market you serve, the better you can source products or brand your store in a way that appeals to your audience.
Make sure to sell products that solve their problems or offer something unique that other stores can’t offer. Perhaps your products have a distinct feature, or you can source products cheaper.
3. Focus On Developing Repeat Customers
Customers don’t only buy from a store because they like their products. They buy again and again because they feel a positive connection with that brand. It’s much easier to retain customers than to find new ones every time.
First, it’s important to collect emails and continually update them on new promotions, products, or collections your store offers. Frequent emails are an excellent way to keep your brand top-of-mind for customers. Your best customers can even receive exclusive offers to make them feel special.
Another way to incentivize repeat purchases is through loyalty programs. Loyalty programs that offer enticing rewards are a proven strategy to encourage existing customers to spend more. An eCommerce business with a repeat customer base will ensure they are around for the long haul.
4. Streamline Fulfillment And Inventory
Streamlining your eCommerce fulfillment will save time and improve margins while reducing costs. If you’re running an eCommerce business that requires you to house inventory in a warehouse, you’ll want to standardize reorders. Property inventory management will help ensure you aren’t overstocked or go out of stock on the best-selling items.
Additionally, make sure to automate the shipping updates and tracking numbers so that your customers always are aware of the status of their product’s delivery.
Wrapping It Up
Setting up a thriving eCommerce business means having all the requisite systems to ensure everything runs smoothly. That starts with proper market research and manufacturer vetting.
Once you’ve acquired a reliable customer base, ensure you incentivize them to continually purchase from you by building brand loyalty. Follow these tips to help start a successful online eCommerce store
