- Apr 05, 2022
Have you ever had the dream to become the owner of a business? Then an E-commerce startup business is a right choice for you.
E-commerce business is very popular now and starting an E-commerce business is easier than you think. In this article, we will describe to you 10 simple steps to start your E-commerce.
So grab a cup of coffee and read the whole article.
The key strength of the E-commerce marketplace for a startup
If you like selling products to targeted customers then you must look at which online market is selling those products.
For example: If you want to sell food items then you will find popular apps/websites like FoodPanda, Pathao Food, etc.
The main purpose to find these popular websites/apps is that their reach is high and they have a huge customer base.
Through their customer base, you can easily get your potential customer in a short period of time.
So you need to figure out which E-commerce platform is best suited to sell your products as a startup.
Look for the level and quality of your Competitor
The next thing that you must take into consideration is that you have to pay attention to your competitor.
Of course, there will be other sellers like you and there will be sellers who own the huge marketplace.
So you need to keep an eye on them on how they are pricing their products when they’re giving discounts.
Do a brief research on the strength and quality of your competitor.
It is crucial to understand your competitor’s strategy, nature, and behavior to operate your own business because when you are a starter you need profound knowledge and the right direction to promote your product.
Try to follow their strategy to guide your business.
Presentation and Catalog Catches the Eyeball’s attention
This is the fun part and this is where you can get creative in promoting your product.
Think that you have a good quality product and it is nowhere available but it has a good market value.
On online platforms, people usually buy only those products that are eye-catching and look amazing from the picture/video.
Currently on social media different business owners are applying attractive, weird, or funny promotional advertisements and attractive catalogs to their sites.
Their main goal is to get the attention of the audience.
Once the audience pays attention they start to look for detailed information about the product.
This is where the seller explains why they should buy this product and how it is important that it is worth buying.
Remember a clear catalog wherein the product image every single detail is given like size, measurement, height width, weight, and color contrast it makes it easier for the customer to get a profound idea about the product.
This will give your customer the feel of a professional business platform.
So you need to keep in mind that no matter how good your product is if you don’t have good catalog and presentation skills you can not get the expected customers for your product.
Merchant Support Service
You need support from a good merchant.
So you have to see if your merchant is quickly interacting with you if they are helping you to display your product.
Another thing is that when you are putting your product on display through your merchant you have to see if that merchant is correctly helping you to get customers.
A good merchant support system will enhance your sales rate and business popularity.
Margin, ROI & Fee
Margin means borrowing money from a broker to purchase an investment.
When you’re buying a product or making the product from your broker you need to keep in mind a few things like the buying price or making a charge, types of fees and return policies, product damage issues, etc.
ROI means the return on investment, this particular measurement is used for comparing the profitability of an investment.
You have to keep track of your product profit.
Shipping, Charges & Mechanism
Shipping is important and you have to look for a good and reasonable price for shipping.
Suppose you want to sell your product all over your country or outside of your country then you have to choose a platform where you can easily showcase the product and ship it.
For example, Aliexpress, from this platform any seller can sell their product, and Aliexpress, will ship the product for the seller and they do not charge any fee from the seller.
Though there are other platforms where you’ll need to pay a certain amount to ship the product.
But if you have a small business then you can do the shipping by yourself.
System Access and Control
Before selling in an online marketplace you need to see if that particular marketplace is giving you enough access to showcase your product.
Whether they have a limited product showcasing policy.
Some online marketplace will show you 5-10 items then they might not give you customer data, some even have region restriction policy.
So for these conditions, you have to make a list based on their product selling policy and find the best suitable E-commerce platform to sell your products as a startup.
Checking payment mechanisms is very important.
Carefully read the payment policy before you agree to sell your product on their site.
Some sites take 90-120 days, some take 30 days.
So you might want to make a list of which sites are best for payment mechanisms.
Return and Refunds
When you’re an online seller you must keep in mind that you will have to deal with fake customers, product damage, or lost issues.
In these cases, you will have to take the product back, change it or return your customer’s money.
To handle these problems check the return and refund policy of the site.
Dispute Resolution Process
Make sure to have legal paper documentation with your online marketplace or for your own small business.
This is to avoid any dispute with your customer or your marketplace.
Try to take this step as early as possible.
If you don’t get the legal documentation before you start your business you might fall into trouble from where you might lose your business license.