Have you been toying with the idea of opening your own ecommerce store for a while now? With the growth of online businesses hitting an all-time high now, it makes sense to ditch the traditional brick and mortar store for the new, tech-savvy, mobile-friendly, on-the-go, retail therapy indulgent, ecommerce stores!
Even if you aren’t very tech-savvy or a code crunching web developer, you can still build your ecommerce store from scratch without much hassle. And we are here to help you do just that, with eight simple steps to reach the zenith of online business nirvana!
Before we get into the nitty gritty of how to build an online retail store, let’s take a look into some mind-boggling why’s of investing in online business in today’s age and times.
Statistics to support the online business boom:
- People are spending huge amounts of money online: USA citizens were spending $602 billion last year online in the pre-pandemic era. When the pandemic started making its presence felt in the first month itself, ecommerce sales grew by a whopping 49%!
- A brick and mortar store costs a whole lot more than an online one: When you run a physical store, you have to pay for a plethora of stuff such as rent for space, paychecks for man-hours, utilities, licensing and permits, maintenance, furniture, and decor, etc.
However, with a virtual one, you will get to forego most of these costs. You will still be spending on avenues like marketing and web hosting, however, the costs will still be more manageable.
- Enhanced customer experience by giving the comfort of shopping from home! The millennial generation is spoilt for choice and starved of time. In such cases, people prefer to shop for their needs and wants from the confines of their home.
The presence and growth of ecommerce stores has only accelerated such tendencies.
- Give your product visibility in online searches: Google is the go-to site for 85% of consumers before making a purchase.
If you don’t have an online presence, the chances of your products/services being shown in a relevant Google search are zilch. We will shortly be coming to steps to build your own web commerce site.
Build your eCommerce store the easy way like a pro!
Now that you have realized the edge that an eCommerce store has over a physical one. If you plan to launch several web stores, read more about ecommerce multistore first. Let’s get cracking on how to build a virtual eCommerce store from scratch. Happy and fruitful reading!
Step 1. Choosing your product type
Often one of the most crucial and deal-breaker steps of achieving one’s cyber retail dream, you need to research the trending products in the market in a particular year and get the hang of the customer’s pulse. You might think you know what the customer wants; however you need to know straight from the horse’s mouth to get a clearer picture.
Conduct research, polls, and opinion tabs on the hottest in-demand product ideas. When zeroing in on the item or service of trade, it is essential to get the hang of the local demand volumes. Buyers prefer to shop from localized sellers as they offer quicker deliveries, faster replacements in case of product mixup or defective piece, and generally are viewed to be more reliable for fulfilling orders, whether online or offline.
Step 2. Source your product
Once you have zeroed in on your perfect product range or saleable service, you need to procure the same from a suitable source. You need to do research on whether you would be selling DIY goods, manufacture, wholesale or dropship! Now is the time to get the whip cracking on your seller verve!
Step 3. Select your business model
As an eCommerce business owner, you have the option of selling through your own store, through online marketplaces like eBay, Flipkart, Amazon, etc. or both! You have the freedom to choose and scale as per your requirements.
Step 4. Research your competitors
Now that you have selected your product, sourced it, and chosen your business model, you now need to get into the depths of researching your competitors to set up something more valuable and different from theirs!
Step 5. Select a Business, Domain name
Other than deciding what and how to source and sell, another important decision is to determine your business name and choose from an available domain name. A business name should strike a chord with your target market and be easy to remember. While the right domain name makes it easier for consumers to recognize your business amongst the other fish in the sea.
For bootstrapped entrepreneurs, it makes sense to book a shared domain with an already established domain name. However, as your business grows, it is essential to have your domain name to help in SEO and facilitate brand recognition.
Step 6. Craft your logo
It’s time to curate a unique logo once you are done with all the above-mentioned steps. This will facilitate brand recognition along with a unique domain name.
Step 7. Choose an ecommerce website builder
With a plethora of online available DIY software creators such as Shiprocket 360 and Selz.com, it should be a piece of cake to build a scalable website that grows with you!
Step 8. Brush up your SEO skills
You are almost on the verge of building a successful online ecommerce business venture; you just need to up your Search Engine Optimization (SEO) skills. Create content that adds value to your store and market segment. Post regular high-quality blog posts, create fun descriptions, add crystal-clear relevant product images, and you should be able to generate a good amount of organic traffic to your website!
Step 9. Build and Design your ecommerce website
Adding a punchout catalog to your ecommerce website can be a strategic move, especially if you are targeting business-to-business (B2B) customers. A punchout catalog, also known as punchout integration or punchout shopping, allows buyers to access your catalog directly from their procurement system.
Your website’s first impression is probably going to be the last impression on buyers. Make it count! It should contain product specifications, images, buyer reviews, ratings, etc. to make a good impression. Make it attractive and easy to maneuver for your target audience.
Step 10. Build multiple Payment Gateways
Set up your store to provide for multiple payment options such as COD, credit card, debit card, net banking, popular payment wallets, etc. You may check with High Risk Pay for an idea of the best thing to do especially if you will be running a high risk business.
Step 11. Provide for an end to end website security with SSL Certificate installation
In today’s age of digitalization and internet scamsters, it makes sense to provide for end-to-end encryption of your customer’s confidential information with a Secured Socket Layer (SSL) certification. Buy cheap SSL certificates from CheapSSLShop, etc.
Step 12. Decide your shipping partner
Now that you have stocked your site with multiple physical products, it only makes sense to tie up with a good shipping partner that delivers to multiple locations at minimum costs. This will translate into greater profit margins for you!
To sum up, we would like to wish you a bon voyage in your endeavor to build an ecommerce website that adds value to the market and your own professional growth. Got more stuff to share? Let us know in the comments section below. Adios amigos!