Employee Retention Strategies That Could Push Your Business Towards SuccessMarch 16, 2017
You Have the Knowledge, but Do You Have the Business Acumen?March 16, 2017
Launching a new ecommerce business will always require hard work and dedication. There are so many things you have to sort out that you’re guaranteed to overlook something. With that in mind, we wanted to publish a post that sets the record straight. If you remember to tick everything off our checklist before you start trading, you’re on the right path. Of course, we won’t have time to cover every element of the finer details of your operation. However, all the basics are mentioned below, and so you should use this article to make your life easier. At the end of the day, you want to create a successful venture that helps you to make a profit. So, you need to leave no stone unturned during the planning stages and beyond. Hopefully, this post will assist you in achieving that goal.
Have you thought of a catchy brand name?
Before you do anything else, you’ll need to think of a catchy brand name for your business. That is because you want to stand out from the crowd and ensure consumers remember you. Writers from https://forbes.com/ listed some excellent ones recently. Ideally, you want to choose something that represents the nature of your operation. Either that or you should select a name that short and memorable. For instance, Amazon was a fantastic choice because it satisfies both criteria. It is the largest forest in the world that contains almost every type of animal or plant life. That’s used as a metaphor for the number of products sold by the company. However, it’s also a short name that people will never forget. Spend some time making a shortlist of potential ideas, and then show them to friends before making your decision. Sometimes you need to listen to the opinions of others to get things right.
Have you sought enough investment?
It’s vital that you create a business plan before trying to launch your company. That is the only way you will work out how much investment you need to get things off the ground. In most instances, you’ll just have to take the document to your bank and ask to speak to the business manager. They will listen to your plans and then consider making an investment on behalf of their employer. The money they provide comes with strict repayment terms you must honor. Failing to make a payment could mean you have to cover lots of additional charges and fees. Also, it could harm your chances of getting further investment from them in the future. You never know when you’ll want to grow or expand, and so you need to keep the bank happy. If you always meet the repayment terms, they are likely to offer more cash the next time you ask.
Have you paid for a professional website?
All ecommerce startups need a professionally designed website. Don’t make the mistake of using a free site builder because you will look like an amateur. Consumers can tell the difference even if you can’t. For that reason, you need to search online for the best web development companies in your home country. While you need to arrange face to face meetings to discuss your requirements, distance isn’t too much of an issue. We are living in the digital world, and so you can hold your meetings via Skype if you choose someone based in another city. Just make sure the designers you pick understand what you hope to achieve. Ask to see examples of previous work, so that you can judge their expertise. At the end of the day, there are lots of qualified people working in that industry, but some are better than others.
Have you invested in SEO tools?
You have two choices when it comes to dealing with SEO. You can either handle the process in-house or outsource it to experts. The last option is preferable because it’s hard to find the time to improve your SEO when trying to run your business. However, that requires you to spend a lot of cash, and so it’s not always possible. You can manage the search engine optimization process yourself if you have the right tools to hand. The guys at https://posirank.com/ say there are lots of solutions available on the market today. Indeed, you can even purchase the same SEO platforms used by professional agencies if you know where to look. They help you to launch and measure SEO at any scale. You can view results and improve your website ranking all from a single screen.
Does your website provide multiple secure payment options?
You’ll want to sell as many products as possible through your site. That means you need to accept money using lots of different solutions. For example, some customers will want to pay using their credit or debit cards. Others might need to use the cash in their PayPal accounts, and some will want to use BitCoin. With that in mind, it’s critical that you provide lots of different payment options to your visitors. Hopefully, your web designers will know how to implement everything you need. So, you just need to make them aware of your requirements. If you think it will help, add a questionnaire to the checkout process for customers to complete. Ask them if there is a payment option they’d like to use that you don’t cover. When all’s said and done, you’ll have to improve based on the feedback you receive. So, you might as well start now.
Have you chosen the right products for your market?
You should have your website up and running by this stage. So, now you have to think about the type of goods you plan to stock. You can either select niche items for a specialist market or something a little broader. The decision is down to you. It’s sometimes easier to advertise to people within a niche because the targeting process is simple. However, offering items to a larger audience will mean you should achieve a higher conversion rate. You just need to weigh all the pros and cons before making the right choice. Also, ensure you shop around when it comes to finding suppliers. You don’t want to pay over the odds for anything you sell because that will limit your profits. So, do yourself a favor and ensure you don’t accept the first deal you find. Make sure you also check Chinese commercial websites if you plan to provide something that’s mass produced. You could save a fortune.
Have you considered the cost of shipping abroad?
The best thing about ecommerce websites is that you can attract customers from all over the world. That means you increase the size of your market significantly. The only issue is that some new business owners fail to consider shipping costs. You also might have to think about import and export charges depending on the nature of your products. Make sure you only sell to countries in which you won’t pay lots of fees. You’ll already decrease your profits because the delivery costs are expensive. So, you need to check to make sure it’s still worth going to the hassle. If the extra costs mean you’re only going to make a dime per product, it might make sense to focus your efforts elsewhere. You got involved in the business world to turn your life around. The last thing you want is to work hard for no reward.
Have you created a watertight marketing strategy?
When it comes to creating your marketing strategy, you might need expert assistance. That is the case unless you have a background in the profession. You see, new techniques reach the industry every single day, and so it’s hard to keep up. However, it’s not impossible, and you might not have enough money to pay for the specialists when you’re just starting out. So, you need to sit down at a computer and design the best processes for advertising your brand. Regardless of the products you sell, you’ll want to make use of social media. That is because it’s the best free marketing tool available to people in your position. You’ll also need to invest in banner promotion using Google Adwords. With a bit of luck, that will help you to drive lots of relevant traffic to your domain. Some companies produce excellent results from TV and radio ads too. It all comes down to the type of people you want to reach.
If you manage to tick all those questions off the list, you should find yourself on the way to startup success. Just remember you face a lot of competition, and sometimes you have to think outside of the box to make things work. Keep a close eye on your competitors, and try to beat them at every turn. Make sure your prices are always slightly lower, and you should steal the lion’s share of the market. Consumers are not stupid, and they’ll work hard to get a bargain. You just need to make sure they are aware your company exists. Good luck with that. We hope your operation goes from strength to strength this year.