What You Need to Know Before Becoming an E-Commerce Entrepreneur

Online businesses are on the rise at a rapidly growing rate and without the high overhead costs a traditional brick and mortar store has, it is no wonder many hopeful entrepreneurs are opting for the e-commerce route. 96% of U.S. consumers have made at least one purchase online with 51% of U.S. consumers preferring shopping online in comparison to shopping at a physical store. 67% of Millennials and 56% of Gen Xers prefer to do most of their retail shopping online than in-store. Baby Boomers are also appreciating the ease of online shopping with many embracing the ability to shop from the comfort of their homes. Being an e-commerce entrepreneur allows you to set up shop online and target a ready-to-buy audience, but don’t assume you’ll be able to stream in sales once you upload some products and launch your website. It takes a lot of work to scale an online business and even harder work to get online shoppers to choose your store over your competitors. That is where e-commerce becomes difficult.

Having an online business allows you to target a broader market without limiting yourself to just your home city and surrounding areas. Because your online store is accessible to anyone who has internet access you can have customers from practically any part of the world. While having an online store is cheaper than an actual physical store it still takes money and the proper know-hows to start, operate, and grow a successful online business. Before you jump on the online store band wagon make sure you have what it takes to be a successful online entrepreneur. Here are just a few important must-haves for a successful e-store, online boutique, or any online business:

Find your niche market and stand out

Do you want to sell ladies accessories, handmade goods, tech gadgets, trendy apparel, high-end fashion, leather goods, books, artwork, home décor, sports memorabilia, bridal fashion, menswear, or baby products? The possibilities of what you can sell online is endless, but just make sure there is a need. The last thing you want to do is have a storage full of products that aren’t budging and will depreciate in value as they sit and collect dust. After you decide what you will sell you have to figure out how you can stand out from your competitors. You need to offer something different that your competitors are not, whether it be selling a unique product nobody else has, offering lower prices, free returns and exchanges, or free shipping.

Online Store/Website

Regardless of the niche you choose you will need a website. In order to launch and grow your online business you need an attractive, easy to use, mobile-friendly, search engine optimized website that your customers can go onto to look at your products and check out without risking their personal information. Your website should be clean, meaning no unattractive colors and fonts. You have to think from a buyer’s perspective when designing your website. Would you buy something from a website with a bright orange or green background and barely readable fonts everywhere? If there is too much going on buyers may get turned off and go elsewhere. Your buyers should feel comfortable being on your website and your products are what should be standing out. A streamlined website is crucial for business growth and success.

Web content

Because you don’t have an actual physical store there are no cars driving by and no pedestrians walking by your store front. Your website is your store front, product shelves, and check-out area in one – which means you need to have some good web content. For instance, if you are selling a men’s polo shirt don’t just upload the photo and as the description use: “men’s polo shirt”. The buyer already knows it’s a men’s polo shirt but online shoppers make decisions based not only on photo quality, but descriptions and specs. What makes your men’s polo shirt good enough to buy? Since buyers can’t feel and try on the product they are relying on what you tell them via your website to make their purchasing decisions. Make sure you have a professional homepage with a short sales copy to attract buyers to browse through your online store, an “About Us” page, “Contact Us”, and professionally written product descriptions with keywords for search engine optimization to increase traffic to your website. An “About Us” page is an important aspect of an online store because most buyers want to know who they are giving their money to. A website without an “About Us” page will not win the trust of buyers, decreasing possible sales conversions.

Online Marketing

Before you can start packing and shipping your orders- buyers have to find you. You now have some wonderful products to sell and an amazing website, but without online marketing you will not get any sales. In order to increase traffic to your online store and get conversions implementing online marketing is a must. If you are on a budget adding a blog to your webstore allows you to connect to your target market while providing relevant information. Incorporating keywords and hyperlinks to direct readers to your products is a great way to drive traffic and increase sales. Creating a social media business page allows startups, small businesses, and online businesses to increase awareness and build a customer base. Having a social media presence makes it easier for customers to find you, generate leads, and stay on top of your competitors. Google AdWords is also on the list of “must do” because it’s a great way to advertise online to thousands of people who are looking for exactly what you have. If you want to be a successful e-commerce entrepreneur you need to market online which is easier said than done. Being an online entrepreneur in general is hard work and even the most seasoned online entrepreneur still seeks professional help in order to reach business goals. Working with online marketing professionals and consulting with a branding consultant will help you strategize and execute properly so you can see sales sooner rather than later.

Online shopping retail sales are predicted to grow to $370 billion in 2017, an increase from $231 billion in 2012.