Ecommerce is the most profitable business currently which has high demand in the market. More and more companies are entering into online buying and selling business since it reaches the customer more prominently than regular methods of sale. Some of the checklist that one has to make sure while establishing the ecommerce site are discussed below.
1. Organize your sale
The first step before building an ecommerce site to make sure what you are going to sell. One has to decide if they are going to sell individual products or range of products. The product should be clearly defined. The profit margin of the products should be determined. Decide on whether you are going to provide any introductory offers or discounts or offer money-back guarantee. You should freeze the business model before launching the ecommerce site.
2. Do some research
Above all, the research should be done on the market to define the scope of the business. The competition prevailing in the market should be analyzed. The keywords should be identified and the Google adwords keyword tool can be utilized to target the market. It will show how many people search the site based on certain keyword.
3. Build site legally
You can create an online store by providing catchy site name to register legally. This domain name is very essential since it is the primary identification of your company or business. You can manage web hosting on your own or rely on other web hosting companies to be more professional. Create a bank account and start accounting the transactions in the business. Decide on store policies like how you are going to handle the refund, payment methods like credit card or Paypal etc. Determine the terms and condition which will explain your business neatly. Proper contact information should be included in the site such as phone, email, Skype etc.
4. Manage inventory
Inventory management is the most important aspect for the success of the ecommerce site. You can post your own products or procure from distributors or suppliers. A warehouse or storage center should be arranged. The physical storage and the online inventory should be managed properly for keeping the stocks up-to-date on the site. There is also another option called drop-shipping which allows you to collect the order from the ecommerce site and send it to the third party distributor who may ship the products directly to the customers. This can relieve you with the pressure of handling the physical stocks.
5. Pricing model
This is also crucial when deciding the price for your products. The break even should be calculated meticulously. You can also choose to provide introductory offer concessions to improve sales. Dynamic pricing based on demand and supply can also be adopted to increase sales conversion on the site. The pricing can be adjusted only after the feedback of customers and movement of the products in the market.
6. Attractive web design
The web design carries a lot of importance while implementing an ecommerce site. The front end appearance is the first impression of the customers which should be designed professionally. The layout and user interface should be intuitive and user friendly. Product description should be elaborate with relevant images of the product. The site should be engaging with proper search option to locate the products easily using multiple attributes like color, size, price etc. Select the best web design company and platform for the site. There are also many ecommerce solutions in the market which provide readymade ecommerce site to flourish your business instantly. Mobile responsive sites can be more profitable such that one can tap the business across the mobile storefront. The checkout process should be simple without much confusion for the customers.
7. SSL Certificate
This certificate is mandatory for ecommerce site to ensure the customers that their data is safe and secured. The third party websites will not be able to exploit the customer sensitive information and credit card details which may be safely encrypted.
8. Site Promotion
The ecommerce site should be ranked well in the search engine result page such that business takes place on the site. SEO can be helpful for some extent. Pay-per-click ads can be placed on the internet which can be cost effective to establish brand names. The Google analytics can be used to measure the success of the site by managing details of how visitor use the site, what products they like, how much they spend etc.
The above discussed check list may be useful for anyone to get an idea about online ecommerce business and how it can be managed. There are many ready made ecommerce solutions which covers most of the above discussed points such that you can launch your business instantly.