If you are a young entrepreneur who is looking for a way to build a business that will allow you to maintain the lifestyle you’ve chosen, then you’re like the 99 percent of others. Today, probably every young businessman dreams of having its business work close to the autopilot mode. This is exactly why eCommerce has gained such popularity over the years since it brings those desires to life.
Since 2015 the economy of eCommerce has been on an amazing upward trajectory and that rapid growth is only expected to increase in the future. That means that the road to success is wide open, filled with intrigues, promises, and excitement. No matter if you haven’t been involved in eCommerce business before, now is the perfect time for your first venture.
However, despite the continuing growth of the eCommerce economy, good results for your business are not guaranteed per se. Just as we’ve said, almost every young business soul is out there, which means the competition is more than harsh. At first glance, it might seem that it’s quite easy to start and grow your eCommerce business, but the truth is far from that. The autopilot mode comes much later.
But the good news is that the only thing that stands in your way of turning your eCommerce store into a massive business is you. As it can be plainly seen from the statistics the potential is already there, so all it takes is your firm decision to invest a lot of time and effort. Since every business is like a living organism, the most critical area is its heart – the website.
Today every kid in the block thinks he knows how to build a professional website, and that may not be far from the truth. But with eCommerce things can be far more complicated, especially with the constant shifting of web technologies. You could just dive in and try to learn from your mistakes, but, since time is money, we’ve prepared a list of secrets that will lead you through a shortcut.
1. Do it like you mean it
From everything listed above, it’s not hard to figure out why eCommerce business has gained such popularity. But this can also be a double-edged sword. There are thousands of same old stories about young folks who have invested thousands of dollars only to spend years in a never-ending struggle to make some profit. Before you take a leap of faith into creating a website you need to ask yourself are you really ready to do it, or, more precisely, are you really willing to do it? How are you planning to treat your new eCommerce business?
Do you see it just as something fun to do in your spare time, as a kind of hobby? This is completely understandable, especially because you won’t be earning millions of dollars right at the beginning. But, seen from a broader perspective, this approach is not only a waste of time but also a waste of a huge potential. Having a lifestyle business can be rewarding enough on itself, but not if you realize that much bigger wealth is waiting around the corner if you’d just focus on the ongoing growth of it.
To put it simply, you need to treat your eCommerce business the same way you’d treat your thriving offline business. Don’t wait for crucial decisions such as implementing Magento marketplace extension until your venture feels like a big business. You need to act as it already is. Before you realize that your eCommerce store is, in fact, a real business, you won’t be able to make progress.
Think of it as a business type of multiplayer game – if you don’t go to the next level you’ll be left behind. You need to change along with your customer’s tastes, trends, and technology and you must never stop involving.
2. Look Before You Leap
Although you need to go full speed ahead, you need to know when to make the leap. The most common mistake of every unsuccessful eCommerce entrepreneur is that they are rushing and forcing the launch of the website. If you don’t want to mess it up right at the beginning, your first investment should go into testing and analytics. It is extremely important to use only reliable A/B testing tools and to test absolutely everything.
You need to think like a customer in order to figure out what is working and what’s not, and, most importantly – why. You should also collect all the customer information you can. Don’t think of it as an unnecessary process, because your first launch might fail and without a good database there’s no point in trying again.
It is perfectly fine to purchase your domain name immediately and even create a sort of ‛coming soon’ page, but you should refrain yourself from going into the open before you’ve done substantial groundwork.
3. Acquire the right tools
This sounds like an obvious one, and you may think it’s not a big secret. But the truth is that there are a lot of online store owners out there who are not running the right eCommerce software for their business, which is an immediate growth killer. And choosing the right one is far from an easy job since it requires almost psychic powers.
You don’t have to go as far as purchasing a crystal ball, but you need to possess a certain depth of vision that will allow you to see potential issues before they appear. The trickiest thing is that the choice of software depends on your individual needs, so you need to do an extensive research and identify your challenges in order to find the one that matches your requirements.
Pay close attention to usability, scalability, marketing tools, and security concerns. The software is a foundation of your whole eCommerce operation, so it is extremely important that it is evaluated on an ongoing base.
4. Assure Your Position
Okay, knowing your SEO has really become a classical one at this point. But that still doesn’t change the fact that many young entrepreneurs fail to connect with a skilled SEO in their rush for an ‛easy money’, which doesn’t allow their business to stay competitive in the long run.
The popularity and the rapid growth of eCommerce economy make the online space extremely crowded, so the only way to stand out from this ever-growing competition is to make sure your SEO is really top-notch. And don’t forget mobile devices – without the right mobile optimization you’ll become completely irrelevant in maximum five years.
5. Find Your Customers…
As you could probably notice up to this point, excessive speed is the greatest enemy of eCommerce business growth. The consequences of this frantic rush are greatest when it comes to your target audience. Or, more precisely, to what you think is your target audience. Many young business owners skip the step where they should get to know their customers, so they end up spending a fortune on marketing campaigns that simply don’t convert.
We don’t need to point out how stupid an unnecessary this mistake is. You are fully aware of what your business is centred on and what products you offer, so finding your target market shouldn’t be that difficult. All you need to do is to take this seriously.
6. …And Pull Them In
After you figure out who your target audience is, all you’re left to do is to figure out where they like to hang out. That way you can turn them to your brand ambassadors, using their satisfaction and testimonials to add credibility to your business. Everybody knows how to write praises about themselves, but what really counts when it comes to buying decisions is what others have to say about your business.
Your greatest ally in leveraging these great living assets lies in social networks. Facebook doesn’t offer you just the opportunity to optimize great adds, but it also provides you with the uninterrupted insight into the lives of your customers. Social media channels form a heartbeat of your business, so it is extremely important to include social elements such as follow buttons and social login options on your eCommerce sites.
As you could see, there is work to do, but the amount of that work can be significantly decreased only by being patient and dedicated. The firm decision, quality tools, and a thorough preparation are a must. Keep your SEO strong and customers close and the autopilot is on.