Online business has been growing year on year. it is growing at a slower pace compared to other countries in the world. While there are several online business players in different fields, the space is just filled with a few thousand e-commerce sites. If you are internet savvy, you can start an e-can commerce business and create an online store to make money.
10 steps to start an e-commerce business
1) Building your online store
Building an online store is not that easy. You can buy a website domain name and hosting package which would cost you less than $ 110 (< Rs 7000) per annum. This process may take just 5 minutes. However, building an online e-commerce store would be a little tough. While you may use lescostlyer sosoftwareit may not cater you to r requirements. Hence once you decide what you want to sell on your e-commerce business, you should approach web designers and start working on creating e-commerce site that best works for your business. There are several ready-made software for e-commerce sites, but they have several limitations. The cost of building an e-commerce site would depend on your requirement and would start from $ 2,000. However, buying a software package would not be sufficient. You may need to maintain this online store regularly and some costs would be involved.
2) Build your mobile-friendly site
Due to 3G and 4G coming into the picture, no doubt, majority of future business is going to work on mobile. You need to ensure that your e-commerce site would work better on mobiles. This could be one time cost, but any customization would cost you on a going basis.
3) Secured payment gateway
Customers need to make payments for the purchases done at your online store. Hence you need a secured payment gateway. Generally your bank would offer you such a payment gateway. However, you can also consider third parties payment gateways to have more control over your transactions. You should note that such transactions done through a bank or third party involves transactions cost.
4) Indicate your Terms and Conditions clearly
When you are making sales on your online store, you should indicate the terms and conditions of the product which you are selling. It may be related to the product or payment or refund policy etc. This would help you to clearly state these things to customers instead of going into legal issues at a later point in time.
5) Organize your products
You need to organize your products in the online catalog in a manner that is easily noticeable by customers. If your customers need to spend a lot of time to search the products that they need, growing your business would be difficult.
6) Good customer support
Many businesses faibecauseas they do not have good customer support. In case the customer had a queryneedsneed clarification before or after the sale, he would prefer to talk to customer support. If you do not have good customer support, growing your business would be difficult.
7) Don’t talk about profits in initial months or years
Once you start your e-commerce business, you should reduce your profits in the initial months or years of starting. This would help you in getting more customers as you are selling at less cost.
8) Ask for feedback after your sell
When you sell the products online, customers may or may not give their feedback. It is always good to ask for feedback so that it would give the pulse of the customer.
9) Improve on the negative feedback from customer
When a customer is not happy, you should review his feedback and check for any improvements. This way you would not such problems with other customers. Over some time, you would sell products with good customer support and the negative feedback would reduce.
10) Marketing strategies
While your business is online, you may require adopting specific marketing strategies to grow your business. You can create Facebook and Twitter pages. You can go and advertise on Facebook at lesser costs so that such online stores would be visible to many internet users.
Starting an e-commerce online store is one of the best small business ideas for those who are tech-savvy or who want to take advantage of growing technology and sell products online.