May God bless the gentleman who sold the sting CD on the online platform on the fine day of August in 1994 – for the first time! This was marked as the first transaction between a seller and the buyer via the net market. Mark this date because since then the researchers have seen a significant hike in the number of small business owners who prefer to conduct business while sitting behind a computer. According to the recent research conducted by Statistica, e-commerce sales are bound to hit $4.88 trillion by 2021. Although it is still a new industry one can still generate enough revenue by taking the right steps.
Multiple e-commerce platforms are available in the market. For example, Shopify, BigCommerce, WooCommerce and much more. The goal of e-commerce is to make the shopping experience easier for its users. Every type of small business has benefited from e-commerce. So why would you lag behind? If you think you have the potential to sell something, then take advantage of this online platform and showcase your best products to the world. In addition to this, if you find it hard to deal with customers in person, then e-commerce is the best way to earn a livelihood.
Furthermore, another research suggests the number of active-profitable stores is surprising low as compared to the total number of registered e-commerce stores. So, where do you want to stand? If you want to sell your products and services online, then incorporate the following tips and introduce your small business to the market in full swing.
- Pick a niche!
Currently, there are more than 12 million e-commerce stores, the number itself is enough to persuade you to select a different and unique business niche. Novelty attracts customers; so ignite the creative part of your brain and compose something different. If you have an artistic gem in you, then you should open an e-commerce store where you can sell handmade items or art. You can experiment with multiple options, from smart home products to online grocery and subscription boxes you can sell anything your mind allows.
It is always a good idea to study the market before launching the product, so study and find what is popular among the people.
- Do your homework!
As we are talking about E-commerce, so instead of looking for the ideal location, you have to think about the website and domain. If you don’t have a web designing bone in your body, then hiring a web developer is a good idea. If you don’t have enough funds to pay the developer, a business line of credit can provide enough funds so that you are able to see your dream website in action. In addition to this, a lot of licensing and legal documents are involved so it is better you have a professional on your side. Getting help from a financial advisor will help you with the required financial documents.
- Get in contact with the right lenders!
You are not the only one who is running an e-commerce store, so the only way the lender will come to you in when you selling something different. If you want to rule the e-commerce world, then you have to scan all the vendors and pick the one who is offering you the best deal. Compare the rates of the products, so that you are familiar with the market trends.
- Are you marketing your products in the right way?
How can someone buy your product when it is nowhere to be seen? If you are spending enough time on your product so make sure you are showcasing it in the right way, as well. The goal is to excite people so that they are compelled to use your product. Engage and build a connection with your customers via social media channels. In addition to all these tasks, you have to make an email list as well, so you are not the only one standing at the launch of your product. Retain your customers by launching rewards and customer loyalty programs.
You have the power to use social media in the right manner. Post user-friendly and engaging content on the relevant channels and we assure you your business will neither go out of demand nor style.
- Get help from the third-party!
If this is your first time in the online business, you will face small challenges on the way! Exploring and approaching a third-party lender would be a nice start for a new business. Instead of wasting your resources, time and energy in creating a new website, these following platforms provide the remarkable set up for your dream business.
At the top of the list in Shopify, with its transparent policies and simplistic features, it has made a special place in the hearts of online business managers. It allows you enough space and freedom to create your own store, at your own terms. If you think Shopify can benefit you, then try it for free for 14 days.
If you think your online business can’t survive with WordPress, there is no better platform than WooCommerce. You can have a little set up in only forty-nine dollars, but you have to pay more if you want to add on any extension. With WooCommerce you have access to free plans and WordPress integration. Moreover, this is no additional fee. Its only drawback is it can be a bit slow.
Know how to code. Your small online business can prosper on this platform. You can have access to its features after paying $19 to $399. Through this platform, you can entertain 75 to 1000 orders per month.
So why bother building something from scratch when half of the work is already done? Take advantage of these platforms and like we said before leaving a mark in E-commerce.
If you need extra cash flow to execute your online business dream, head over to our website and explore a wide range of small business loans. To keep yourself updated about E-commerce and small business loans, follow us on Facebook (@Onlinecheck) and Twitter (@Onlinecheck). If you have any question, feel free to call us on our toll-free number at (833) 827-4412, our loyal and keen financial advisor will answer your every question and guide you throughout the way.