How To Start A Profitable Ecommerce Business – In the past few weeks, the ugly truth has emerged as thousands of workers have been blindsided by pay cuts or the harsh reality of losing their jobs altogether. Many soon realized that they had been swimming without a life jacket the whole time. Those who have spent many years working in a field now have more questions than answers, not knowing if their job will still be there when they wake up the next morning.
Most do not feel this lack of help since they start working. Leaving many to wonder what other alternatives there are in this time of crisis, a time when the country can no longer support its economic heart – small businesses. With so many unanswered questions, it is inevitable that those involved will weigh their options; either weather the storm or take back control of your life…
How To Start A Profitable Ecommerce Business
The truth is that, although we still have the same 24 hours in a day, this dedicated time has freed up a significant amount of time that most are not able to take advantage of. Now, if you decide that the best use of your extra time is to finally see what Game of Thrones is all about or look at old prom photos, then this article is not for you.
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However, with uncertainty comes great opportunity. If you want to restore your life step by step, then this article can help you.
Before we get into the rest, I want to introduce myself as quickly as possible, I am Ethan Dobbins and for the past two years I have been teaching real entrepreneurs how to start their own online business. . Today you will learn five key steps to start your own e-commerce business even as a beginner.
In chemistry, a large supply of initial energy is required to initiate a chemical reaction. The same is true for any challenging task in life, because the first step is always the biggest challenge. Coming up with the right business idea as a beginner seems impossible, simply because you don’t know what pieces you need for this unknown puzzle.
So let’s break it down. Every successful e-commerce business focuses on a specific group of people in their niche.
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Niche is the backbone of a successful business because every decision depends on it. Your color scheme, social media posts, branding, name, logo, website all depend on this choice. That’s why travel-friendly brands mainly use the green color instead of the blood-pressure-raising red.
It helps to choose a specific segment that you either know about or are interested in because marketing and market research become second nature. As you understand exactly what the customer wants better than anyone else since you are one.
Understandably, it takes an incredibly long time to discover the right niche for you. Most people think of themselves in this area. So here are two main points to consider:
Popular niches include fitness, health, beauty or jewelry, but the possibilities seem endless as long as there is a large audience in that area. Keep in mind that the broader your niche, the more competition you face.
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So, if you want to step into the crowd of sharks, there is a big demand for differentiating your business from the rest of the herd. Many times, the smartest way to decorate your own space is to focus on a small pond.
For example, if you want to enter the fitness niche, it is a very smart decision to focus valuable time and money on home fitness, young athletes, adults or seniors. This way you have crystal clear your target audience and you can tailor your social media, advertising and website to each segment of the market.
When it comes to designing a logo, you can create one for free using Canva or outsource the process to a graphic designer on Fiverr for as little as $20.
We have chosen our niche and now have a clear idea of what the rest of our business will look like, but how do we find interesting products to sell?
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Think of each stock as an investment, you want to choose the one you have the most knowledge and confidence about. After all, you will be investing your time and money in any horse you return, so make sure it’s a reliable product.
There are many websites to source products – eBay, Etsy, AliExpress, Alibaba. Now, if you want to start a clothing brand, Printify and Printify are industry leaders in printed products from t-shirts to canvas.
Clothing is often a risky investment due to the company’s high average rate of return of 40%. Also, you may get 10-20 unsuccessful designs until you finally find one that will be successful.
As a beginner, aliexpress dropshipping is the best choice. Undoubtedly, this business model presents the least risk because the owners do not have to see, touch or move the things they sell. Essentially, it becomes an intermediary. People buy from your site and then buy the product from your supplier who transports it to the customer’s location.
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Getting laid is easier than ever in 2020 because the tools at your disposal are more sophisticated than ever. Market research tools like Ecomhunt, Adspy, Alishark and countless others offer a collection of custom products in almost every niche imaginable. After clicking on a product that catches your eye, the software provides useful analytics such as daily orders, links to other sites that sell, profit margin and more.
If you answered yes to all of these questions, there’s a good chance you’ve discovered a winner.
This usually takes the most time for beginners, it’s not difficult, but many people get caught up in the little things. Your website doesn’t have to be perfect; some of the best brands in the world have awesome websites to limit potential customer frustrations. At the end of the day, the name of the game is sold.
There are many e-commerce platforms like Shopify Plus and WooCommerce that offer plug and play options for designing your website. After spending some time learning one of the platforms, it becomes an exciting adventure to figure out how to bring this blank canvas to life.
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Shopify offers free and paid themes: different layouts and designs for your website. I always recommend using a premium theme because your website is the first impression potential customers will have of your brand. They will unknowingly decide if your business depends on your site.
There are many templates online for individual page layouts, but most of these pages will be unique to your niche and product selection.
If you’d rather outsource this process and save time, you can hire a freelancer from Upwork or Fiverr to create a beautiful website in no time. I don’t recommend spending more than $85 on a designer because supply exceeds demand.
Two common advertising platforms are Facebook and Google Ads, both of which present unique opportunities for your business. Facebook ads are generally easy to set up as you simply create an audience of people you want to market to (age, gender, location, interests) and then create video, image or carousel ads to display on characters. Add their Instagram and Facebook stories.
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Be sure to test different ad copy, ad copy, and audience to find what works best. The sooner you find out who your ideal target audience is, the faster you can increase your advertising and make more sales with your new thrift store. Keep in mind that not every ad, product, or audience will be a winner, so having the right plan in place to know when to cut or increase a campaign is critical to your success.
Now, before you start running Facebook ads, you’ll need to set up an Instagram and Facebook page for your new business. Often overlooked, social media plays an important role in the minds of potential customers. If your business doesn’t have a lot of brand value (followers or posts), it will raise a level of suspicion among people who see your brand for the first time.
Social proof is the key to convincing customers to choose you over the competition. This is why user-generated content is at the forefront of law enforcement. You can produce custom content by ordering your product and adding images to be placed on your feeds, website and even ad ads. Also, you can reach out to influencers and offer a product to post on their account, that way you can earn sales from their audience while still getting new content.
Stay consistent and post at least 4 times a week with your company. This will increase your audience and drive free social media traffic to your website. Hashtags can also dramatically grow your audience over time and increase
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