The Pandemic has made the world to do business differently. People are coming towards online businesses now. In 2021, building an online store has become very easy. A person with no or very little computing knowledge can start an online store.
Although doing business on the internet has become a lot easier now but there are many things you have to determine before starting your own web store. Steps like understand what you want to sell, how to handle shipping. Furthermore, what marketing strategy you are going to use are few very important issues to understand.
This article will help you in determining how you can start an ideal online selling platform from scratch. This article will cover these important topics:
- What to sell in an online store
- Sell your own product or work as a dropshipper
- Find the best product to sell
- Choose a good business name
- Setup an online store
- Best Payment method
- Marketing Strategy for online store
- Final words
What to sell in an online store
As an online seller, you must first ask these important questions from yourself:
- What do you want to sell online?
- Who will buy your product or whom are you aiming to sell?
- Why would they buy the product you are selling?
These questions might sound very easy to you but they can play a vital role in setting up your online business. Knowing your niche and knowing your target customers is very important. Understanding your target market and why they will buy your product can make your job a lot easier. Most people fail because they think about the qualities of their product but not their potential market. They hope that their product is good enough and people from all groups of life will buy the product. This type of selling strategy mostly fails.
Always aim for an area in which you consider yourself as an expert. In this way, you will have a thorough knowledge of the market in which you are aiming to launch your product. It will become a lot easier for you to define who your suitable customer is and why they will purchase the product, you are offering.
Sell your own product or work as a dropshipper
- Selling your own product means that you will create your own product or purchase it from a supplier. The customers will order the product via your website and you send the product directly to your customer.
- Selling as a dropshipper means that you list a product on your website. Customers orders and buys the product through your website. The supplier sends the product directly to the customer.
In order to sell your own product, you will have to pay the supplier upfront so that you can list the product on your website. Moreover, you will have to pay rent for storage of the inventory. This means it will cost you money even before actually starting your online store.
On the other side, as a dropshipping will save a lot of money. You will not have to hold inventory and you will not have to pay for your product to a supplier. As a dropshipper whatever you will sell will be absolute profit for you. As a newbie to the world of online business, we recommend you to start working as a dropshipper. This will help you to understand the basics of online selling and it will give you a good idea of most suitable online marketing strategies.
Find the best product to sell
To find the best product to sell online require these steps to follow;
- Do a thorough research of your niche. Look for your competitors and see what products they are selling
- Go through some articles and websites to check what your target customers like what they like to buy, what are their challenges and their choices.
- After finding your niche, go to the forums related to it. Check what your potential customers are talking about and what are their likes and dislikes.
- Go to Google and do some keyword research. Look for articles related to your niche.
- Go to the Amazon and EBay and look for the similar product you are willing to sell. See what type of products sell the most in your niche.
After doing a thorough research, look for a supplier who operates in your region. Make sure you do not have to pay a high shipping cost. Avoid brand dominance as well.
Choose a good business name
A catchy business name is always important because people love attractive business names. Look for a name that is easy to pronounce, easy to memorize and can be used as a brand name. Prefer a name that is available as a .com domain address.
Setup and online store
There are numerous online tutorials available on YouTube. You can easily setup your online store by following those easy tutorials. You can also use Shopify to design and launch your web store in very short time.
Best Payment Method
There are many internationally recognized payment methods. Always pick the one which can be easily used in your region. Currently PayPal, Stripe and Square are most trusted and common payment available on the internet. We also recommend you to pick from one of these.
Marketing Strategy for Online store
Social media marketing, Influencer Marketing and paid advertisements are currently the most effective means of online marketing. Not just Instagram but Facebook can also used for marketing purposes.
You can also collaborate with a social media influencer from your niche to market your product or advertise your product through Google ads.
These methods are paid methods but by following a suitable marketing approach, you can make high returns without spending much. Some other marketing methods are;
- Content marketing
- YouTube marketing
- Search Engine Optimization (SEO)
If you have followed the above mentioned steps then setting up an online shop will become a lot simpler for you. By focusing on your niche and finding your potential clients, you will not only be able to sell anything you want but also open newer opportunities for you as an online businessperson.