From brand new startups to established retail chains, everyone is going online because that’s where the future of retail is. If you are thinking about selling online yourself, you already have the right frame of mind. However, there are certain things that you should be aware of before you begin your venture. These are factors that you need to consider whether you’re starting from scratch or just creating an online presence for your brick-and-mortar outlet.
Is Your Product Suited for Ecommerce?
This is the first thing that you need to consider, and chances are that you probably already have. Even then, it might be wise to think over the following points before you start selling online.
- Is free delivery a feasible option for you and the product that you are selling?
- If you must charge for delivery, can the prices remain competitive after adding the delivery charges?
- Is it a digital product like an eBook or game codes? If it is, it would be perfect as you won’t have to worry about delivery.
- Are you a service based company? Once again, that’s good news because just like digital products, service companies are perfectly suited for online business.
Do You have the Finances?
It is true that the expenses of setting up an online store are a fraction of what it would cost to set up shop in the traditional way, but it’s not exactly free either! There are substantial costs associated with both opening up a store on a site like eBay and opening up a new ecommerce site of your own. Depending on what you are planning to sell, and the scale of your business and marketing, the necessary investment could be much bigger than you think. While the availability of easy loans for eBay sellers has made things much smoother than before, it’s still something that’s worth considering.
Investing in SEO and Marketing
One of the biggest problems of selling online is the fact that there are probably innumerable other options for customers to choose from. The only way to leave this state of anonymity and become popular is through proper and updated search engine optimization, backed up by some excellent digital marketing campaigns. A point to remember: updating your site with regular content and the patience to wait until your efforts begin to bear fruit are inevitable parts of starting a business online.
Thousands of startups begin and fail each year because of one main reason; they thought that selling online would be easier and cheaper. The truth of the matter is that it has its own challenges and most newcomers jump in without considering those challenges first. For example, once you think about the costs of setting up an ecommerce website, marketing expenses, SEO expenses, maintenance, delivery, etc. things suddenly don’t seem as “cheap” anymore. Also, turning your e-business into a revenue generating, sustainable source of income takes more time and effort than people tend to imagine. The bottom-line is that in spite of all the advantages that online stores hold over their offline counterparts, there are certain truths of the ecommerce business which you should be aware of before walking down that road.