Starting an eCommerce store can be one of the most fun ventures into entrepreneurship out there. Not only do you get the opportunity to sell what you want, but you’ll also get to be a part of a community that inspires you. However, knowing where to get started can be tough, which is why I’m offering a few helpful suggestions as you make your initial push. Check them out below:
Get Your Foundational Elements in Order
As it goes with starting any new endeavor, getting all your pieces in order before your launch is crucial. Not only will this give you a solid foundation to start growing from, but you’ll additionally feel much more at ease about how things go moving forward. Plus, the process doesn’t need to be as stringent as you might think, as long as you’re patient about your process.
For starters, one of the most important things to begin mapping out is your budget, which as noted by the Small Business Administration, can cost between $1,000 to $5,000 for a business to start out. And while that number can vary business to business, bare in mind that this is something almost everyone is going to have to go through. From business licensing to epacket delivery, getting all the things your small business might need to survive is going to be crucial to your future success.
Start out by dividing up the different costs of your business into categories, including things like logistics, payments, inventory, licensing, etc. As it’s best to overestimate than under, make sure that you’re not trying to skimp on anything, even if it might end up being cut out later on. Additionally, don’t forget to address those things that might seem “extra” now, but could be wildly beneficial, for example, using lawyer Aaron Kelly’s automated contract system or echecks to pay for services. The expenses you take on should be things that help your business be in a position of no worry, giving you the best chance of opportunity down the road.
Establish A Marketing Plan
Once you’ve got your budget and inventory in mind, it’s time to start thinking about how you’re going to push this material. As marketing is one of the most important aspects of any quality eCommerce store, it’s a must you start tackling this sooner rather than later to start getting the word out there. However, one of the biggest challenges in this regard is being able to get out there and be competitive, which can be a lot with how vast the number of people you’re up against.
A great thing about having an eCommerce shop is that it’s not necessarily about reaching a huge audience but targeting the specific one that will bring the most ROI. According to SmartInsights, with 3.2 billion people currently having a social media account, it goes without saying that’s a massive audience to breach. However, even tackling a small fraction of that can be a great opportunity, which you should be mindful of with your approach.
Create a schedule based on what you’re looking at as the most prominent features of your eCommerce store. For example, if you’re someone that has well-curated vintage streetwear, then highlighting the brand names in your hashtags and sponsored posts (as well as SEO) will be crucial. Additionally, showcasing the types of items that you have that are hard to find will be good to include as well. And while this might sound overwhelming, one of the most important aspects to be mindful of is just being natural with it.
As the name of the game with social media is engagement, the goal should be for you to not only post a lot but make sure it’s content other people can relate to. Furthermore, you should also be commenting on other people’s posts as well, looking to strike a conversation. Remember, the more you get yourself out there, the more visibility you’ll own, and in return, will drive more traffic.
Stay Consistent With It
Finally, as it goes with any branding or outreach, staying consistent with your efforts is an important feature to your success. According to Brand Buddha, as it takes 5 to 7 impressions for a consumer to remember your company, constantly setting out content is a must, which is why you should consider setting a schedule and sticking to it. Who knows? With the right push, your content might go viral.
What are you most excited about in regards to launching an eCommerce store? Comment with your answers below!