Resources to Build and Grow an E-Commerce Business
The pandemic has caused everyone to re-think their business model or job choices. Whether you are thinking of becoming an entrepreneur or you own an established business but need to expand sales, e-commerce may be the perfect solution. Compared to traditional brick-and-mortar businesses, e-commerce offers the advantage of lower overhead costs and a customer base unbounded by geographical limitations. However, just like brick-and-mortar businesses, there is much to learn before starting an e-commerce business. We recommend beginning with research, and lots of it. We have gathered some tools and resources to help you get started.
Establishing your plan
These resources will assist you with business planning as you prepare to become an entrepreneur.
Work with an experienced business consulting firm, like Novelle, to develop a business plan and strategy
Choosing the Right Technology
Once you have a business plan, it’s time to choose the correct technology for your business. Implementing the right technologies will ensure that your e-commerce business is optimized for your customer base. Technology must support how customers find and connect with your brand and ensure you are delivering the best shopping experience. There are many great choices when it comes to using internet tools to sell your product, so we assembled several resources to get you started. Take your time with these decisions. The method you use to interface with your customers can decide whether your business succeeds or fails to get off the ground.
Setting Up Inventory Management
Inventory management is key to running a successful e-commerce business. Inventory tracking ensures that items to run a business are in stock and available at optimum quantities. There are a multitude of shipping options available to businesses and choosing the correct method is critical, whether your business model is home-based, in a warehouse, or via a third-party supplier. We have included some suggestions to help guide your decision.
Developing Sales & Marketing Approaches
Businesses need customers, and generally speaking, the more the better. When starting an online business, owners need to create detailed plans to ensure their internet advertisements and product information will reach their target customers. Some important topics to consider in your planning; branding, customizing your website, developing customer-focused social media posts, how to upsell online, and best ways to gain referrals. These guides are designed to help you attract more customers and achieve higher sales.
E-Commerce may seem like an easier business route compared to a traditional brick-and-mortar business, but don’t let it fool you. While e-commerce does offer distinct advantages and fewer barriers to entry for new entrepreneurs, running a successful e-commerce business isn’t as simple as building an online store and waiting for customers to find it. Standing out in the competitive e-commerce marketplace requires careful attention to marketing, branding, and customer service. It may not be simple, but businesses who plan and take the time to “do e-commerce right” have an advantage in today’s marketplace. If you are inspired to get started, Novelle is ready to help you lay out a plan for success. Contact us today for a free consultation.
Marissa Perez is a freelance writer and Novelle contributor specializing in small business marketing. To read more from Marissa please visit businesspop.com.