If you’ve purchased any products through Amazon in the past two years, then you probably noticed that the ecommerce giant has made a huge dent in the retail industry. And, contrary to popular belief, success in the ecommerce world isn’t limited to corporate entities like Amazon. As consumers rediscover the value of customer service and quality products, niche ecommerce stores will continue to become more important. Starting an ecommerce business is a fantastic way to either break into a highly competitive industry, or ride the wave of an up-and-coming industry.

In this post, we’ll detail how to start an ecommerce business from its conception through selling your first product.

1. Find a Product to Sell:

If you’ve decided that you’re entering the ecommerce industry, then you likely already have a product in mind. If not, though, this is the first (and one of the most important) steps to starting an ecommerce store.

Beyond brainstorming, there are a few ways to do this. Keyword research will lend insight into product demand. Additionally, ecommerce resources should help you to identify new product opportunities.

Once you have an idea in mind, do some research on the market. Before doubling down on the product, make sure that there is existing demand on the internet.

Your product doesn’t necessarily need to be tangible. In fact, software and service ecommerce stores are becoming more common.

Overall, you should choose a product that you have a working knowledge of, or a passion for.

2. Research the Industry:

Is there a lot of competition in this industry? Who are your biggest competitors?

Before you start an ecommerce store, knowing about your competition is crucial. There are lots of small (but important) website features that can give customers a great shopping experience. For example, something as simple as a website button can inform customer decisions.

Beyond the website features, you’ll also need to think critically about the prices. How are your competitors’ products priced? Do they offer free shipping?

Finally, can you gain any insight as to their marketing efforts? To continually gain new customers, your ecommerce store must find ways to reach customers. Look into your competitors’ social media and SEO strategies.

If you’re a new face in the industry, then you need to have an “x factor” to stand out and gain sales.

3. Business Model: Dropshipping vs. Warehouse vs. Manufacturing

How are you planning to acquire your products? While it may seem trivial at the beginning of the process, you eventually need to buckle down and develop a more thorough plan.

Making Products

Products that fall under the DIY category are generally self-produced and sold via an ecommerce store. This method naturally keeps production at the pace of the business, and material costs should be low. However, this might limit the potential for customization.

Warehousing: Manufactured or Wholesale Products

When your product can’t be created through DIY, you’ll have no choice but to purchase it from somebody. Shipping your items from a warehouse adds an extra responsibility, but with a potentially high payoff.

If your unique product accomplishes a specific purpose, then manufacturing may be the way to go. You’ll likely have to spend big bucks on a bulk order, but you’ll have exactly the products you need. This option also allows you to brand all of your products.

If you are selling a more generic product, then wholesaling may be the most cost-effective method. These established products tend to be fairly high-quality, giving customers the assurance they need. However, keep in mind that if your business revolves around reselling, then your company needs to stand out somewhere else.

Dropshipping

Dropshipping allows ecommerce store owners to act as a selling network– without ever actually touching a product. After customers place an order, it will be routed to the appropriate product supplier. Then, they will ship the product to the customer, without ever involving you. Many people select this option because of the low initial costs and overhead, with the potential to scale. This also allows ecommerce stores to offer many products, without committing to a bulk purchase.

4. Find a Qualified Resource for Much-Needed Guidance

Once you’re done with the research phase of starting an ecommerce store, you need to take on a few of the more concrete challenges. If you want your business to succeed, you need qualified guidance. Long Island Ecommerce Solutions specializes in helping new and evolving stores through this process. Our versatile team can help you out with all areas– including web development, exposure, and more.

5. Develop Your Brand: Company Name, Logo, Voice, etc.

You need to model your brand around your target audience. A professional designer will be able to create a brand identity that will resonate with your potential customers.

A lifestyle-focused brand– one that carries the same values as its consumers– will cause buyers to have a sustained interest. The logo should be memorable without becoming obnoxious. Then, develop a brand voice that speaks to your customers the way they want to be spoken to. Developing a sense of trust around these principles is imperative.

6. Create Your Website

With affordable ecommerce platforms like Shopify’s basic package readily available, it may seem like a no-brainer to start with the cheap package. Then, as your needs increase, steadily raise funding. However, as industry pros, we’ve witnessed clients miss opportunities and squander potential with this mindset. Instead, your website should be fully prepared for your ecommerce store’s eventual success. Templates– which are often supplemented by clunky plug-ins and sloppy coding– won’t give customers the experiences they need. Your website needs robust functionality. After choosing an ecommerce platform, hire an ecommerce company to take care of the following variables.

7. Add Products

After your website is fully configured, the final step is adding products. This can be a simple, tedious, and mundane process– but paying attention to the important parts is critical. For the best results, you need a professional to upload these products, and properly categorize them in the process. This will help users and search engines alike to find what they are looking for.

8. Take Care of the Logistics

Just because your business operates online doesn’t mean it won’t have real-world needs. Depending on the type of business, you may need an office space or warehouse. If possible, your domain name should echo your brand name. Otherwise, choose a variation, or include industry buzzwords.