Ecommerce Business Ideas: How to Get Your Online Store off the Ground
In 2022, the projected ecommerce sales are expected to reach $5.42 trillion. By 2040, a whopping 95% of all purchases will be through ecommerce. These staggering statistics show how incredibly powerful technology can be and more importantly, how profitable it is.
If you’re thinking about launching an online store, now is the best time to do so. No matter what you sell and where you are in the world, there’s a buyer for every product.
Keep reading to learn the best way to make your ecommerce business ideas a reality and get your business off the ground.
Define Your Business Model
Before you start an ecommerce business you need to define your business model. Will you sell physical products, digital products, memberships, or subscriptions? Each of these requires a different business plan, marketing tactics, and delivery methods.
Your business model will be the foundation for your branding, customer service, pricing model, marketing plan, and even website design.
Choose an Ecommerce Platform
To operate an online store, you need an ecommerce platform. The most popular choices include Shopify, WooCommerce, Big Commerce, Square, and Magento.
This is where you’ll build your website and shop, track sales and inventory, and use all the SEO and marketing tools the platforms have to offer.
Find a Fulfillment Center or Warehouse
If you’re selling physical products from your ecommerce online store, you need a fulfillment center or a warehouse. With a warehouse, you’ll take care of inventory, packing, shipping, and tracking yourself. If you opt for a fulfillment center, they do all the work and you pay a monthly or annual fee for this service.
Not sure which one is right for your business? Here you can discover more about the differences between a fulfillment center and a warehouse.
Develop a Marketing Plan
Once you’ve done all the work behind the scenes, it’s time to put your online ecommerce business out there. This is where your marketing plan comes into play. You want to target your ideal customers but in an organic way, not in a salesy way.
Your best option is social media to reach a wide audience but you can also pay for advertising, use word of mouth, hand out flyers, and work with influencers.
Get Your First Customers
Starting an online business might seem easy but the most challenging part is getting your first customers. Depending on the products you’re selling and your target market, it may take anywhere from weeks to months before you make a sale.
However, this shouldn’t discourage you to keep going. Use your marketing methods wisely, keep perfecting your products, and offer stellar customer service. Competition online is fierce so keep showing up and offering value to your audience.
Get Your Online Store off the Ground With These Ecommerce Business Ideas
Whether you sell handmade products or have a dropshipping store, getting it off the ground can be easy if you follow these tips. From finding the right product to using all kinds of marketing methods, ecommerce is the business model of the future.
Discover more ecommerce business ideas and tips on our blog where we cover the latest industry topics and news to help you take your online business to the next level.
