With an estimated 24 million e-commerce websites in the world, it’s safe to say that many people have purchased something online these days. Especially in today’s climate, online shopping is the easiest and safest way to purchase products and services. But have you ever thought about selling online? There are many compelling reasons to start a business selling online, including:
- Starting an e-commerce business has relatively low startup costs.
- 87% of shoppers are more likely to research products online (even if they end up buying from a physical store)
- With e-commerce, it’s easier to collect, measure, and capture customer data than when you’re operating in a brick-and-mortar store.
- With an e-commerce store, you can connect with customers who aren’t able to visit a physical store.
- Starting an Online Business Faster and Easier It’s easier than working in a brick-and-mortar store.
While it’s easy to set up an e-commerce site, it’s important not to jump in without a plan. Here are the things you need to do first:
- Define your overall brand.
- Create an e-commerce strategy.
- Choose the right products to sell online.
- Choose an e-commerce platform that’s right for you.
- Create a website that looks and works well.
- Set up your social media before you launch.
This may seem like a lot, but once you break it down, each step is completely doable! You can read our guide to starting an eCommerce store in 7 easy steps for more information. In this article, we cover all the “big picture” things you need to know about selling online. If you’re serious about starting an online store development business, you need to know about both.
Here’s what we’ll cover in this article:
- Where to sell online
- Mark your path to success
- The importance of marketing and UX
- What types of products can you sell online?
- Top 3 recent eCommerce trends
Where to Sell Online
There are a number of places where you can sell your products online, from virtual pages to your own e-commerce website. With all these options, it can be hard to choose which one is best. Learn about the different e-commerce avenues available to you to determine which one is best for your business, and remember that you can always change the model if your business model requires it.
Sell on Social Media
You can easily sell online through Facebook, Instagram, Twitter, or Pinterest. The benefits of selling on social media are that it’s incredibly easy to set up and get started, and that you automatically have an audience that can grow. Facebook Marketplace is a great way to keep things local and is much like an online auction house. The “Shop Now” button on Facebook and Instagram allows your fans to go to your website to make their purchase. Pinterest is a great place to sell physical products through shoppable pins that consumers can click on to go directly to a website and make a purchase.
Pros:
- Easy to set up
- Instant audience
- Keep transactions local
- Affordable
Cons:
- Not as “formal” as an e-commerce website
- Hard to track repeat customers
- Hard to make the brand and store your own
In short, you might want to consider social media marketing if you’re just starting out and want to see if online selling is right for you.
Sell through online marketplaces
Selling through online marketplaces is a more formal way to start a store than social media, but it takes almost as much effort. It can also be a great way to leverage an existing audience that uses the marketplace. The downside to selling through online marketplaces is that they often take a percentage of your sales. Examples of large online marketplaces for selling products or services include eBay, Etsy, Amazon, Alibaba.com, and Google Express.
Pros:
- It’s more formal than selling on social media
- It’s an easy way to reach your audience
Cons:
- It’s more difficult to set up than a social media store
- Marketplaces often take a percentage of your sales.
If you’re ready to take the next step after building a social media store but aren’t quite ready to launch your own e-commerce store, you might consider selling on online marketplaces.