According to statistics, e-commerce is currently booming. Revenues are constantly growing, customers are appearing on their own and an online store can be run from home, thanks to solutions such as dropshipping. If you are thinking about selling any products, an online store will be a good investment for you and allow you to make huge profits. But how to build online store?
Register your company
Before you learn how to build online store, focus on the formalities. Make sure that your business is completely legal, because legal problems will be very expensive later. In most countries around the world, you will have to set up a company to sell legally online. In addition, many bulk trading platforms like Alibaba and Zentrada require a tax identification number when you register.
Running a business requires some investment. You don't have to have your logo right from the beginning, but if you want to run an online store, you should have terms of service, which you should have a specialist write. On top of that there is insurance, taxes, etc. It is imperative that you accumulate enough funds to sustain your business for a minimum of 3 months, including monthly fees for running an online store.
Choose the products you want to sell
You can sell anything in your store that the law allows, although certain goods require the appropriate permits (gold, medicines, military products). In the beginning, however, you won't be able to afford to buy a wide assortment, so you should opt for products related to one field. Home accessories, pet toys, climbing equipment or electronics. The choice is yours, but you should be well versed in the goods you sell. Customers will gladly pay for good service and expert advice.
If you have a very small budget, you should opt for dropshiping. It can be just an addition to your regular assortment or a pillar of your business. It all depends on your concept. Our blog has an article about choosing dropshiping suppliers.
A company blog is also a good idea. It will improve your site's ranking, help customers choose products and allow you to make money from advertising.
Get a good domain
If you're wondering how to sell online successfully, undoubtedly you'll think about good prices, products and website design. But have you thought about advertisements? According to Google experts, $1 invested in advertising can deliver up to $100 in revenue. This is an extreme case, but such a profit is actually possible.
Marketing is not just banner ads. You will also make a lot of money by optimizing your site and having a good domain name. These are small details that matter a lot when you are trying to increase the profits of your online store.
The standard domain for online stores is .com(comercial), but there are many others that can combine with the site name into interesting phrases, for example, play.it(italy) or yourlocal.tv(tuvalu).
Take care of visual communication
In addition to an attractive name and assortment of products, customers should be interested in the appearance of your store. When you create online store, pay attention to its appearance, as this is the first detail that viewers pay attention to.
According to marketing experts, the safest color combination will be:
- White or light gray background
- Gray or blue buttons
- Red elements that are meant to catch attention
- Green and purple elements are also found, but they are controversial and may make users uncomfortable. We live in a time of minimalism, and in our opinion, a smaller variety of colors on the site is definitely advisable.
Also, make sure that the colors associated with your brand match the color scheme of your store. There is nothing worse than chaos.
When you know how to make a online store, you can get down to the assortment of products you sell in it.
Depending on your budget, the number of products and the quantity of orders, you can opt for automation or manual cataloging work. Probably the best tool for stock actualization is Comarch ERP, although competitors' products are also great.
If you choose dropshipping, software for stock updating will be essential, but many vendors provide it to their partners.
If you are creating descriptions and graphics for products in your store yourself, spend as much time as possible on it. Well-crafted images can increase sales by 70%, and pleasing descriptions will not only improve your customers' experience, but also improve your site's ranking.
Add your payment methods
Do you still remember the days when you used to pay for orders in online stores by a simple bank transfer?
Nowadays it is almost impossible. PayU, PayPal and Trustly have become so popular that their implementation is a real must have.
Make sure your online store has several payment methods. An absolute minimum of 3 options.
Once your store is ready, it's time for final testing. You need to check very carefully if all features and products look the way your customer would like to see them. Also check if the host can handle a heavy load, as traffic can be huge in the time before Christmas and on black friday.
How much money do I need to get started?
If you already know how to sell online, it's time to put your knowledge into practice. You may now be wondering how much money you need to invest to start profiting from your store. In the vast majority of cases, you'll manage to spend an amount between $700 and $3,500, but if you don't have big requirements, you'll spend between $700 and $1,000 to get started.
Theoretically, it could cost as little as $50 to purchase goods, although this is an unlikely case.
If your business is to grow, you need a minimum of $2,500. If you're interested in B2B and wholesaling, your budget should be a minimum of $50,000-this amount will allow you to negotiate good prices with manufacturers and distributors. Selling digital products of your authorship, you don't have to worry about costs. Everything, including the website itself will be much cheaper.
How to start an online boutique?
If you are interested in fashion, you might be interested in running an online boutique. Why are we treating this as a separate topic? Because this business model is a little different from selling books, tools or mugs.
First of all, uniqueness matters. You can offer clothes from one designer or one brand, or sell your t-shirts, as we have already written about on our blog. However, it's important that your site meets the expectations that your target customers set for it. Although they pay attention to price, they care a lot about good quality products. Remember also that your website should look very elegant.
When running an online boutique, you shouldn't buy your goods on big platforms such as Alibaba. Instead, look for designers and small clothing manufacturers in your area.