Phil Rothwell Ecom Evolve We offer eight actionable insights on the essentials of setting up an ecommerce site.
#1 – Look Before You Jump
Part of the plan is to learn how to run an online business. Your best bet is to read about how to set up an e-commerce site online (sites like The Profit Club), read books, and chat with people who are already selling online. (if not a large retailer).
Learn from your own shopping experience too. What do you like/dislike? Attending small business and e-commerce trade shows can also help.
#2 – Find your focus
No matter what kind of business you create, there will be competition. To be successful, your proposal has to be better than theirs in some way. It takes trial and error at first because I don’t know how best to differentiate my business from theirs.
The key is to prioritize differentiation. For example, if your competitors seem impersonal and distant, offer more personalized service. If they are businesses, make you a family business.
The only way to be successful in the long term is to build a bond with your customers and get them to buy from you on a regular basis. These bonds become the essence of your brand and what your brand needs to be successful in the long term.
#3 – Get Proposals and Prices Right
Why would someone want to buy from you?What makes us different from other sites
Beware of competing on price alone. Instead, add value and charge more! Offer a gift-wrapping service with or get P&P free if you buy X pounds.
The value you provide should be tangible. I know a business that sells tools for inspecting precious metals. We condition our products before shipping so that they are ready to use right out of the box. Another company sells baseball and softball equipment. They sell only genuine US products and offer discounts to clubs and schools.
#4 – Use the Right Marketing Channels
The online world is highly competitive and you need to promote your business. The various ways of doing this are called “channels”.
Social media:
Most of us have heard of Facebook, Twitter, Instagram and TikTok. These social media channels provide a means for businesses and individuals to gain followers.
Search engine:
Search engine marketing is used to describe different ways to maximize your business’ presence on platforms like Google, YouTube, and Bing. For example, Search Engine Optimization (SEO) is the process of helping search engines index the content of his website and improve its position in search engine rankings.
Alternatively, you can shorten this by paying Google to advertise your products and services using systems such as Google Ads.
Other channels:
There are many other ways to promote your business online, such as email marketing, but we won’t cover them here. The challenge is that some marketing channels are more effective than others, depending on who you sell your product to.
In my experience, Google Ads works very well for established businesses, but falls short for most startups. Social media is great if you want to sell something that looks good and your customers use these platforms to communicate with each other.
#5 – Test Marketplace
You should consider selling from marketplaces such as Amazon, eBay, and Etsy, but do your research carefully to understand the pros and cons. Some marketplaces give you quick access to customers and sales, but you don’t have direct access to these customers.For example, people buy from Amazon, not from Amazon sellers. Also, when promoting your product in the marketplace, remember that you are also introducing your customers to your competitors.
#6 – Manage Costs
Summarize your expenses and income in a spreadsheet or account package to make sure you understand your cash flow and your gains and losses. Review these weekly so you can notice when things aren’t going your way.
#7 – Choose the Right Platform
Don’t spend a lot of startup money on technology. In fact, it saves the most for attracting and converting visitors. There are many low-cost cloud e-commerce platforms such as Shopify and Big Commerce that cost dozens of pounds a month to operate. Other options include open source solutions such as Woo Commerce.
We always recommend starting with a cloud platform as it is easier to use and maintain. Open source solutions are flexible and allow you to customize every aspect of your store. This adds cost and complexity.
When you’re just starting out, the higher the cost, the higher the risk.
DIY – or not:
If you decide to run your own store, you’ll have to decide whether to set this up yourself or use a web designer. Most ecommerce platforms allow you to create a great-looking, fully functional site quickly and inexpensively. One that works well on desktop computers and smartphones. However, you probably need the help of a web designer to add that professional finish and enhanced features that can build confidence and increase sales.
#8 – Make sure everything works
Make sure the finished site is easy to use for both you and your customers. Have a friend test it (you might see them do it).
The online store accepts orders 24/7, subject to availability. Depending on whether your cart is desktop or cloud-based, you may need a third party to host your website. Either way, make sure your store is trustworthy. Get personal recommendations or ask your supplier for availability.
#9 – Get Paid
Card payment is required. Some platforms, such as Shopify, include payment processing that simplifies setup and reduces costs. Another popular option is Stripe and PayPal. Originally designed for individuals buying and selling items on eBay, PayPal now meets the needs of businesses of all sizes and is a standard feature of nearly every e-commerce site.
#10 – Measure Everything
There’s an old joke that marketers know half their marketing budget is wasted. Accurately calculating your return on investment is always difficult, but you can use systems like Google Analytics to track the number of visitors and sales you get from his many online marketing efforts. These systems are free to use and worth the investment to implement.
E-commerce is always evolving
Over the last 20 years, e-commerce has continuously evolved. Most importantly, the driving force behind change is consumer demand. Before the age of e-commerce, you had to purchase goods from a physical store. Choices were limited as it was impractical for retailers to carry a wide range of products. Innovation was limited as manufacturers struggled to bring their products to market.
So it’s no surprise that more than half of traffic to retail websites comes from smartphones and tablets, and mobile commerce accounts for more than half of retail sales. The pandemic has accelerated market growth, with the UK retailer estimated to have made his £120bn transaction online in 2021. In 2019, this figure was he at £75 billion.
The instantaneous nature of online means that e-commerce is fundamentally fast-moving. So setting up an ecommerce site in 2023 is all about making your business stand out from the crowd.
Learn more about setting up your ecommerce site
Benefits of a Merchant Account for Your Ecommerce Business
How to market your e-commerce website