5 Things To Know Before You Start An Ecommerce Business

Experts say 95% of purchases will be via ecommerce by 2040. The potential impact of the current pandemic may speed up this trend. So, it’s worth taking a look at some key things you need to know before starting up.

Unique Selling Proposition

The most common reason for e-commerce startup failure is lack of customer demand. Don’t assume the market wants what you’re offering. You have to solve a current market problem. You need to articulate how your product is different from other brands. Make it stand out from the competition. This starts with extensive market research on what motivates customers’ buying decisions.

Attractive User-Friendly Website

An appealing, easy-to-use website can enhance the visitor experience. Beautiful photography is a must. Use a thicker font to highlight new trends or promotions. Display the right amount of white space in combination with bright colors. Try something a little bit different from the rest. Short videos to show how products work are always helpful.

WordPress, WooCommerce, and Shopify are among the available options. Shopify is great if you aren’t technical or have a large budget for a custom website.

First Class Customer Support

Another significant reason behind ecommerce failure is that user feedback is seldom obtained. It’s always good to tackle the issue that generates the most complaints. Offer the following channels to increase customer satisfaction:

  • Contact information
  • Live chat
  • Social Media
  • An ‘About Us’ section

Customers want to feel part of an exclusive community. After a customer has purchased from your store once, place them on your VIP list. Private links can then give first access to new products.

Efficient Payment And Returns Process

Imperative to making money is the ability to capture online payments. Having several payment options is helpful. Online payment gateways offer two main benefits to eCommerce businesses:

  • A fast, simple checkout process to secure sales
  • Protect customers’ information via encryption

Paypal, Amazon Pay, Google Pay and Apple Pay are among the biggest names in online payment options.

The returns process should be accessible and simple. Provide a direct telephone number for added value for the customer. Communicate your return policy on your site footer and encourage customers to use it.

Fast Loading Time

Your website page load speed has a direct impact on conversion rate as well as visitor satisfaction. Host pages need to be reliable and cope with any unforeseen upsurge in visitor traffic. Studies have shown most online shoppers abandon a site after only 3 seconds of loading time. The size of your images can also influence your site speed.

Make sure you’re using a reliable web hosting provider. A2 Hosting, Bluehost, HostGator and Hostinger offer high-speed performance. They also provide free templates, user support and money-back guarantees. Tools such as bitcatcha.com measure server response speed to requests anywhere in the world.

Conclusion

Get the basics right before you start and you’ll save yourself future headaches. Testing out some of these features with your customers may give you the best chance of a profitable online business.

11 thoughts on “5 Things To Know Before You Start An Ecommerce Business”

  1. Before starting an e-commerce business, everyone needs to know specifically,
    You have explained them very well to us. Unique Selling Proposition, Attractive User-Friendly Website, First Class Customer Support, Efficient Payment And Returns Process, Fast Loading Time, This information is really informative. Thank you so much for sharing this article.

    Reply
  2. I am glad that you spoke about returns in this post. When I consider buying an item online from a “less established company, ” I will always check out their return policy. If it seems that they are “afraid” of returns or do not have a hassle free policy, I will take my money elsewhere.

    Reply
  3. I absolutely agree with all of these points – I have an online business on Etsy but have been considering setting up my own ecommerce store. Getting the basics right is so important!

    Reply
    • If you are having success on Etsy, you should definitely look into your own site. You can sell your Etsy products their and get referral $$$ when someone buys something else on Etsy or a similar site like Zazzle or Redbubble.

      Reply
  4. Informative article, definitely the first point is key, so many just jump in thinking they have the next great idea since sliced bread. Try and have something unique and new, no point reinventing the wheel as they say.

    Reply
  5. The great thing about ecommerce is that it provides lots of competition for just about every niche you can think of. The real key is finding a niche that YOU can excel at and also turn a tidy profit without burning yourself out.

    Reply
  6. I absolutely agree with all of these points – I have an online business on Etsy but have been considering setting up my own ecommerce store. Getting the basics right is so important!

    Reply
  7. Before starting an e-commerce business, You must have a real business. If You a successful business in real life, e-commerce will be also successful.

    Reply

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