So, you have decided to start a profitable online store. That’s amazing to know! Thanks to the internet and the gigantic technology, establishing an online store has been much simpler and time-effective. Right from the shipping companies to setting web hosting platforms can be done in just a few minutes.
As a beginner, you might not know the ins and outs of eCommerce businesses.
Don’t worry, guys!
We are here to rescue you. We will provide A to Z details in this guide on steps to create an e-commerce store.
Ready to study how to establish & start a profitable online store?
Select your offerings /product/ concept
Choosing your business product is one of the important tasks that you will have to do. It should have a USP that can distinguish it from other competitor products.
Certain questions to be asked :
Are you going to produce the commodity or outsource it from other suppliers? If producing by yourself, how will you keep up with higher demand?
If outsourcing, what criteria will you keep to choosing your suppliers? Will it be located in your state or from another country?
You can use the SCAMPER method to come up with astonishing ideas.
Substitute – if the product is available in the market, you can substitute some of its elements to make it appear unique. For instance, home-made oils
Combine – you can mix up two products to form a new one
For instance, a chocolate sandwich
Adapt – if your product needs changes as per temperature, location, etc.
Minify or magnify – here you can tweak certain elements to existing products.
Put to another use – one item can be used for multiple purposes
Eliminate – you can eliminate some complex elements to make it simpler than one
Rearrange – you could simply rearrange elements to make a new exclusive variety.
When researching what should be your product, go through these lists of questions.
Will it be a digital product like courses, ebooks, or physical ones like umbrellas, ice cream, etc?
Who will be your supplier? Is he located near your vicinity?
Do you have a warehouse or storage room to keep the extra stock?
Validation of your business idea is a must step. Do it carefully.
Come up with a business plan
Starting your business without drafting plans is one of the foolish mistakes one can make. Come up with a strategic plan and data sheet that will show the proper allocation of costs.
The next step in creating a business plan would be incorporating your business.
Register your business
Do you want to manage your business all alone, go for a sole proprietorship? Or want to register as a limited liability company ( LLP ) or a partnership firm. Research about all characteristics of each type of business formation and accordingly set up.
Every state and its adjacent city has different rules and regulations for setting up eCommerce stores. Study about these formalities and register your business soon.
Calculate all business and trading costs
How is your product made? What are its raw materials? Are you sourcing them from somebody?
You would need to pay for web hosting plans, too. Domain name selection will also bear charges.
What about shipping expenses? Are you going to bear it? Or pass it on to your customers?
Sales tax and income tax will be required to pay quarterly.
If employees are working under you, salaries also need to be accounted for.
Select the best suitable eCommerce platform
There are loads of eCommerce platforms that offer different services as per their features. Selection of the right eCommerce platform is a vital step as you cannot back out easily then.
The essential features that should be present in the eCommerce platform are as follows:
Product and CRM
Third-party apps integration
Compatibility from mobiles too
Built-in Search Engine Optimization power
Advanced CMS- Content Management System
Monitoring and Analytics
Recovery of the Abandoned carts.
Multiple channels for sales
Let’s go through the two most important eCommerce platforms are listed below:
Vepaar helps take your business to the next level by automating many aspects of your business workflow with CRM-like features and allows you to build customer profiles, send customized replies, save media, conduct polls on WhatsApp, and start your online business.
Vepaar allows the creation of simple, variable, and digital product stores respectively. It provides you with multiple checkout & shipping options & tons of integrations to manage the products & orders.
Another remarkable feature at Vepaar is that you can conduct polls on WhatsApp. This research will allow you to gain insights into the current business scenario and help you understand your customers’ needs.
Select your business name
Your business name will represent your eCommerce store.
Make sure it is an attractive and memorable one.
Once your business name is registered, your eCommerce website will need a domain name too.
Use the KISS principle- Keep It Simple, Sweet.
Customize your online store
The list of categories in the online store would be as follows:
Add my products
After choosing your template to showcase your products, put along relevant product descriptions along with their pictures adjacent to them.
Click on the ‘set up payments’ option.
eCommerce platform will allow you to connect your store with a huge list of payment processors like PayPal, Stripe, or Paytm.
There can be options like COD- Cash on Delivery and direct bank transfers.
Tax section and shipping options
Click on the ‘set up Tax’ option. The orders will be taxed automatically.
Add zone name for a drop shipping option. Choose the country, and city in which goods have to be shipped.
You can bear the shipping expenses, or pass them to your customers.
Get, Set, Go…….Ready for launch
After going through all the above steps, your online store is set to get launched. Recheck all the details and finally click over the Publish button.
Congratulations, your online store is live now.
Hip Hip Hooray!!!
Build your brand identity and develop a marketing strategy
Branding will give your business: a competitive advantage. Act as a distinguisher and your USP.
Branding will spell out:
What is our mission?
What are our brand values?
How does your business want to get perceived in front of the market?
The last and final step is developing a pre-launch and post-launch social media marketing strategy.
The logic behind the pre-launch strategy is to create hype in the market and make your target audience feel excited about your products.
The post-launch marketing is aimed at building a direct and long-term relationship with your customers.
The Final Thoughts…………!
The eCommerce space is going to stay here for a long period of time. More and more people are using the internet to search for online products and buy those products from eCommerce websites.
Thus, creating an online store isn’t difficult. The catch is in choosing the right eCommerce platform which allows the users to build the store without any complexities.
You do not need a huge investment to start here, unlike in the brick-and-mortar business. Don’t forget to make the first impressions of your store appealing. Keep asking for consumer feedback and keep improving….
Because Communication is the heart of eCommerce and Community.
Kaushal Gajjar is the CEO of 7Span Technologies and Founder of Vepaar. As a front man of the organization, Kaushal has been instrumental in leading and managing various projects to provide technological, online business and consulting solutions for clients across the world. He has more than 8 years of experience in various fields like IT, Web Designing, SEO, Digital Marketing etc.