We often get inquiries from people wanting to build a new e-commerce store. The idea sounds great on the surface (and can be an outstanding business if done right), but many seem to believe that if they throw a website up on the Internet, add some products, the sales will be there. That’s not how it works, typically.
Launching a brand new, e-commerce store should be viewed as starting a new business. That means you will need to invest capital to make your store successful. You’ll want a top quality website to cater to buyers on all types of devices: phones, tablets and desktops. Your new business will need good, desirable products – lots of them. A fledgling web store will also need a marketing strategy; otherwise, how will people find your company and its products?
There are many common mistakes people make when attempting to sell products online, but you might want to avoid these 3 biggies right out of the gate:
Don’t Go Cheap
An out-of-the-box or homemade e-store that doesn’t look good or perform well for visitors is a common mistake. A good e-commerce store needs to function well and look great if you want sales. People will be willing to make purchases if they are able find what they need, the prices and shipping rates are reasonable, and they feel they can trust you. Expect to spend 6 figures on high-quality web development and web marketing your first year in business.
Don’t Forgo Marketing Help
Not having a marketing strategy or knowing your competition is trouble. Selling products that nobody wants or items that everybody else is selling can pose a tremendous challenge to your new business. If the market you want to enter is highly-competitive, you’ll need a strategy to find visitors and your “niche” to enter the space. Great marketing is not cheap. It’s expensive. But, having a great marketing strategy will make your company money, and you’ll recoup your initial investment and become profitable.
Don’t Forget the Full-time Worker
Not having a dedicated person to operate your e-store business is often overlooked. It’s a full time commitment. You’ll want someone to manage adding products, shipping orders, handling returns, etc. It could be you. It could be someone that works for you. To be successful, you have to have someone working full-time for your new, e-commerce business – period.
Cutting corners by trying to build something on your own and working your way up usually does not pan out. Just like starting a brick and mortar business, you’ll need real estate – a fantastic store out of the gate. And, equally important, you’ll also need a plan to attract customers and get them into your store. Without a hefty, initial investment, you just may end up spending more money, when all is said and done, and have little to no results to speak of – and that is good money down the drain.