Do you want to build an eCommerce business? Or Do you want to take your retail business online?
Are you confused about where to start? How to set up your e-Commerce store on platforms like Shopify, WordPress, Magento, or other eCommerce platforms? Or How to find the right kind of eCommerce website development company in metro cities like Jaipur that also offers affordable services.
If you answered a big YES to the above questions, then this blog is here to guide you through the step-by-step process of setting up your e-commerce store and running it successfully.
Why is it significant to have an e-commerce store?
According to Statista, the Market Size of the eCommerce Industry across India is forecast to grow up to 200 billion U.S. dollars by 2027.
There are a lot of growth opportunities for your retail business to expand by taking it online through your e-Commerce store.
The following are some reasons for setting up your e-Commerce store.
- It helps to expand and scale your brand across the globe.
- eCommerce business is more convenient.
- It can run 24×7.
- It allows you to automate your marketing efforts resulting in boosting your business.
Still, wondering if you should take your business online or not? Keep reading, and you will have all the answers.
Business Models in e-Commerce
There are several types of eCommerce Business Models. You need to understand which category your business falls in and then develop your business in that segment.
B2C ( Business-to-Customer ) Model:
The B2C ( Business-to-Consumer ) model includes selling goods or services to an individual like big eCommerce giants Amazon, Flipkart, Myntra, Meesho, etc. sells their products to their consumers directly through their online eCommerce platforms.
B2B ( Business-to-Business ) Model:
The B2B ( Business-to-Business ) model includes selling goods or services to other businesses like Qualtrics or Salesforce that sell their services through their eCommerce platforms.
How to create a successful e-commerce store?
Developing an e-Commerce store with the help of an eCommerce website development company might sound much overwhelming to you, but it’s as exciting as it is challenging. Here are a few steps that could guide you on building or setting up your first e-Commerce store.
Understand your Product or Service Niche.
Setting up your e-Commerce store is crucial, but before that, it’s significant to understand your business’s market size and niche.
Identifying your niche market means a focused set of people or businesses who are in the market to purchase a product or service you sell.
Understand your Target Audience.
Understanding your target audience in your niche helps in every touch of your eCommerce business development process. You should know your potential customer by researching and collecting every detail. You should be aware of their background, income, age group, pain points, needs, motivations, interests, what the competitors’ website is likely to purchase, etc. This detailed information about your target audience will help you build your eCommerce business personalized to their requirements.
Determine your Unique Selling Proposition (USP).
The eCommerce business is growing exponentially, and there are many good eCommerce website development companies that could help you do the same. To make your business a world-class brand in the market, you need to figure out “Why should a customer purchase your products rather than from your competitors.” It is a time when you need to identify your unique value proposition. It is significant for you to determine your unique value proposition by doing in-depth competitor research.
While conducting competitor research, you would find out specific patterns or weaknesses of your competitors that are your product’s strengths. It will make your brand unique and take note of all that makes it unique and positioned in the market with its well-planned communication strategy.
Decide your pricing.
The right kind of pricing is the biggest challenge for most eCommerce businesses. It’s crucial to understand the market size, product or service category, manufacturing costs, or website developed on eCommerce platforms costs, taxes, shipping costs, payment processing services costs, marketing or advertising costs, etc.
Considering all your expenses, it’s significant to add the amount you would be more likely to see as your profit. Further, do analyse your competitors’ pricing strategy and decide upon your product or service price.
Work on your shipping costs and options.
Acquiring and retaining customers is possible only if you can get the final purchased product delivered safely and at the right time at your customer’s doorstep. Work on your shipping costs and decide upon how you will provide the order. You can either free shipping to all the products in all locations or charge certain shipping costs on certain products. ECommerce shipping platforms ShippingEasy, ShipStations, Shopify Shipping, etc. that could solve your product shipping requirements.
Build your eCommerce Website.
Before setting up your retail store into an e-Commerce store, you need to do the groundwork and be transparent with your niche market, target audience, competition, your brand USP, and build your website store with the help of an eCommerce website development company based in your city. For instance, if you are in Jaipur, you can consult with an eCommerce website development company in Jaipur to set up your e-Commerce store.
Platforms that help in building your eCommerce website.
Shopify is among the most prominent eCommerce platform to build your website. It is an ideal platform for stores of all sizes; it has incredible features required to develop your eCommerce website.
Wix is among the initial website builders with eCommerce functionality. It is more helpful and easy to use while customizing your e-commerce store with great design, easy to use, practical sales tools, etc.
BigCommerce is more about building a robust and scalable eCommerce business. It has SEO integration, website customization, payment & inventory management, etc.
WooCommerce is a WordPress plugin that helps to transform your website developed on the WordPress platform to an e-Commerce store. WooCommerce features include seamless integration, in-built payment processing, extensive theme options, local customization, etc. It’s a great choice to take into consideration.
Custom Coded Website:
You can also built-up your website with custom coding that includes developing your eCommerce website without eCommerce platforms. To build your eCommerce website on custom coding, you must hire a freelance expert eCommerce developer or eCommerce website development company. They would help you with your customized requirements.
Market your e-Commerce Store
Once your website is built professionally on a robust eCommerce platform, a few untapped online marketing opportunities could help you market your e-Commerce store.
Optimize for Search:
After your eCommerce website is developed with the help of eCommerce platforms or eCommerce development companies, it’s time to create your online presence on search. Research the targeted set of keywords your audience would search on search engines. Add primary keywords in the title and description of your pages. Add long-tail keywords variations in product descriptions, index your website, fix technical SEO issues, and build high authority links directed towards your websites.
Social Media platforms like Facebook, Instagram, Linkedin, Twitter, Pinterest, etc., build brand awareness and personality among the target audience. These platforms set up Facebook or Instagram stores that display the products and services through catalogs. This can help the audience make purchases through social media platforms directly known as Social Commerce.
Social Media Ads can also attract people to your products or services. Running ads on social media could help you with conversion, catalog sales, store traffic, etc.
Email Marketing is one of the cost-effective ways to connect with your audience in a personalized manner. Further, it also helps you build your email list of your valued customers. Sending personalized emails related to your upcoming offers could help them stay connected with the brand.
Omni-Channel Marketing has become one of the crucial strategies big eCommerce giants like IKEA, Amazon, and Myntra have implemented to leverage the consumer experience. eCommerce companies have created a seamless shopping experience from customer-first touchpoints to last regardless of customer platforms or channels.
This marketing strategy builds trust & loyalty among your customers and builds brand loyalty.
You are setting up an e-Commerce store, and establishing it as a brand requires consistent efforts to understand potential consumers and help them fulfill their needs through your products or services. Your journey becomes easy when you reach out for professional help, be it to an eCommerce website development company in Jaipur or a marketing agency to market your store.
Get Catalyzed makes it easy for you by providing both of these services under a single roof.