How to Build a Successful Ecommerce Business
Online shopping is the new trend in India and almost everyone, irrespective of the region (urban or rural), are shopping online for different products. From a hair pin to a toe ring, almost everything is now sold online. Some of the unexpected things such as dried cow dung cake, are also available online! Now who would have thought that such things could be ever sold online? But, yes, they are available and there are people who are ready to buy them. It’s like the old proverb, where there is a will, there is a way! So if you have an idea for setting up a successful eCommerce business, then you can build it if you have the will for it!
Here are top 5 pointers to build a successful eCommerce business.
1. Evaluate Business Idea for your Ecommerce Business
A successful eCommerce business always starts with a great idea. However, having a great idea is not enough. The idea should be unique, practically feasible, and scalable. Therefore, every business idea should be thoroughly screened on these aspects. The idea should first be verified for its uniqueness. If similar online stores are already present, then you need to work on the drawbacks of the existing stores and check whether yours can be a better one with modifications. If it is unique, then you need to evaluate its feasibility and acceptibilty – mainly to check whether people are looking for such a product or service, and also whether the idea can be carried out practically. A successful eCommerce business also requires the idea or concept to be scalable. It means that you should be able to apply the idea on a large scale – for example, if you start your online business by supplying a product to a small locality, the product chosen should be one that people all over the country would be requiring it; so that you can extend your supply all over the country.
2. Work on the Infrastructure
This is another important aspect for setting up a successful eCommerce business. Before setting up the online store, its backbone, a support system to deliver the products/service ordered should be in place. In general, an eCommerce store would require staff to follow up on the orders placed, get it packed, ensure on-time dispatch, follow-up until delivery and attend customer concerns. A store house or a place to stock, pack and dispatch all the products listed on your online store would also be required. Accordingly, you would require adequate office space and people to manage all these activities. You would also need appropriate stationary and electronic goods such as computers, printers, scanners, etc. Although, not all these would be required if the business idea is to drop-ship the products, staff would still be required to ensure proper follow-up of orders until delivery. Another aspect that is essential is your packaging material. To ensure that all the products reach safely to their destination, you need good packaging material that also carries your brand name.
3. Invest on a Good eCommerce Platform
With the availability of eCommerce platforms such as that from Shopnix, it is now quite easy to set up a successful eCommerce business. Online stores rely on a robust eCommerce platform for their complete operation. From order taking to updating the details about dispatch, an eCommerce platform is necessary for any eCommerce business. The eCommerce platform chosen should have several attractive options for the store front and provide a robust back-end features to follow up the orders placed. Features that help in recording the orders, tracking the stock, updating customers about their order status and managing your inventory are a must for every eCommerce business. Additionally, all these features should be available at a reasonable price. The next important aspect is service. Most of the eCommerce store builders offer low cost websites, however, they do not provide after sales support, or charge a high amount for adding any additional features. However, eCommerce platform provided by companies such as Shopnix, comes with several built-in features which help you run your successful eCommerce business without any glitches. They also have a strong support team for troubleshooting.
4. Get a Reliable Logistic Partner for Your Ecommerce Business
Next vital feature of a successful eCommerce business is a reliable logistic partner. The success of the eCommerce business mainly relies on timely and safe delivery of all products ordered over the eCommerce platform. Logistics can be quite challenging and is a process that requires continuous monitoring from package pick-up until delivery. Further, if customers want to send the products back, there should be a system in place for it too. If cash-on-delivery option is provided to the buyers, then follow-up with the logistic company to ensure deposit of all the money collected from buyers is also necessary. With the availability of several logistic support companies, it is now quite easy to arrange for logistics. These companies have tie-ups with the different logistic providers and offer competitive pricing. Additionally, these logistic companies also have online platforms for comparing prices of different service providers, booking the orders and following-up until delivery.
5. Promote your Business across all Channels
Branding and promotions is another important feature of a successful eCommerce business. Every eCommerce business relies on people looking up the products online and making purchases frequently. Hence, it should be ensured that maximum number of online buyers are aware of your store. The eCommerce business should be promoted across all channels – both online and offline. Advertising across social media platforms as well as print media are both important to create brand awareness. Social media influencers are another option for promoting your eCommerce business. Having a good customer support team which is active across different social media platforms is also necessary for brand promotion. A brand that addresses customer concerns immediately or within a short duration of time is promoted by the buyers themselves! Running brand promotion campaigns which involve providing discount coupons, offering contests and prizes, etc can also help in ensuring that your idea becomes a successful eCommerce business venture.
Do keep these pointers in mind to set up a successful eCommerce business.