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10 Things You Need When Starting an E-Commerce Business

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Starting an E-Commerce Business

Businesses have migrated to the digital world to sell their products and services. Because of this, online retail is booming, and it’s in large part because of the effects of COVID-19. If you are thinking of taking advantage of this, here are ten things you need to get started:

1. Lots of research

First of all, what business model do you want to work with? This usually depends on what you want to sell. Are you offering a product or a service? If it’s a product, is it physical or digital? For physical products, drop shipping, where a third-party stocks the item, is a smart choice for startups who haven’t built a client base yet as it will save on storage costs. When the business begins to upscale, then you can consider wholesaling or warehousing. As for digital products and services, you can offer a subscription model or a free version with an option to go premium.

Next, you need to know what niche your business falls under. Again, this depends on what you’re offering. Let’s say you’re selling stuffed toys, then your business falls under the general niche for toys. Follow your competition. How are the successful e-commerce toy sellers promoting their product? Is there a good level of competition or too much? Don’t bother selling in that niche if there isn’t any competition. That means there’s no market either.

Speaking of the market, you’ll also need to know the kinds of clients you’re targeting. Are you looking to sell to parents who want to get something nice for their kids or for teenagers who wish to give their partner a gift? Figuring this out early on makes it easier to promote your business.

2. A fitting name

With the research phase done, the creation and execution phase begins. There’s a lot of competition in the online retail industry, so you need to stand out. The best way to do that from the get-go is by thinking of a unique business name — one that’s hard to forget.

3. A formal business registration

Now comes the complicated part. Formally registering your business helps you figure out how you’ll be taxed, personal liabilities, and administrative requirements that need to be set up. Plus, you must ensure that your business complies with state and federal laws. A common business structure many new businesses file as is the limited liability company (LLC). Aside from establishing your business as official, registering as an LLC lets you set up a corporate veil that protects your personal assets should anything go wrong in your business. It also lets you avoid double taxation and maintain a flexible management structure — without the hassle of setting up a corporation. Sound like something you’d want? Check with your Secretary of State’s office to learn about the procedures and requirements.

4. A solid business plan

Now you’ve got a formal business set up. Next thing to do is finalize your business plan. Write down all the specifics, paying close attention to your finances. How much are you going to invest in your business? How much do you expect to earn? This is the time to work out all the logistics and budget allocations, so don’t rush it.

5. An e-store that suits your vision

Time to set up shop (digitally)! When choosing a platform, consider the fees, unique features, customer service, accessibility, and overall performance. You have to pick a platform that suits your needs the most. Otherwise, you might have to deal with complications and limitations further down the line.

6. Marketable branding

Put that creative brain to use! Another thing you need to run a good e-commerce business is an eye for design. Your branding includes your business’s writing voice, color palette, visual designs, and anything else that makes your brand, your brand. This is vital, as a visually pleasing website is more appealing to buyers. So work on your branding, and stick to it.

7. Engaging social media content

Where are your customers? Many will be on social media. So, the best way to funnel clients into your e-commerce platform is through a strong social media presence. It’s also a direct way to engage with potential customers and create a community.

8. An effective marketing strategy

Just being on social media isn’t enough. With a business strategy comes a marketing strategy. This can be as simple as incorporating your branding to your business’s social media outlets, to other options like paid ads or sponsorships. You can even hire brand ambassadors to promote your business on their social media. Whatever gets the word out there effectively is a good marketing strategy!

9. A great network

Struggling to make sales? Then make sure you have a network that can help you out. Apart from the camaraderie, networking is an avenue to form business relations that are mutually beneficial. A shout-out from one of your friends might be just the pick-me-up your business needs to get the sales rolling. Just make sure you do the same back.

10. Patience

It’s not easy to run a business, especially one that’s wholly online. Don’t expect it to become a big hit in one night (or in one month, for that matter). It takes hard work, skill, and dedication to build a successful e-commerce business. You’ll get there. You just have to keep going.

Final thoughts

It seems like a lot of preliminary work, but if you really want your business idea to take flight, you have to take the plunge. We never said it’d be easy!

Besides, there’s something appealing about being your own boss. You have control over your time, your ideas, and your business.

So, what are you waiting for? Get to it, and good luck!

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E-Commerce

Top 5 Tools to Integrate to Your Magento 2 Web Store

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Tools to Integrate to Your Magento 2 Web Store

It takes much effort to start an online web store, but it takes even more effort to succeed. Unfortunately, over 70% of startup companies fail approximately ten years after their launch. And even if they are successful, there is always room for improvement. Alongside other mistakes, lack of necessary tools is one of the reasons for failure. The availability of a website is huge progress, but your business should have relevant tools to achieve better results. For example, how can you store and use customer data without a CRM system or manage the inventory without ERP? Here are five must-have solutions that should be integrated with your Magento 2 web store with the help of a Magento development company.

1. CRM Systems

The role of CRM solutions for eCommerce businesses shouldn’t be underestimated. They store lots of customer data – contact information, purchase history, products of interest, and interaction history. This information can be used by the marketing and sales teams of the company. They can plan targeted promotional campaigns, send marketing emails, and provide exceptional support.

2. ERP Systems

The second must-have tool is ERP software. Companies have different departments such as production, accounting, and human resources. Each of them uses its particular system because of which duplications often happen. ERP software eliminates these duplicates and the likelihood of mistakes by connecting all these systems used by different teams. As a result, businesses can monitor customer databases, stock, orders, and accounts payable in one place. It boosts productivity, eliminates mistakes, and automates the work.

However, it should be mentioned that ERP – Magento 2 integration  isn’t an easy task. Make sure to contact a  Magento development agency to connect your website to the system smoothly. 

3. Inventory Management for Magento 2

Running an eCommerce web store is meaningless without the possibility of managing your inventory. It would help if you had a tool that handles order delivery, shipping methods, and returns. If you have warehouses in different locations, the system allows choosing the ones nearest to the delivery point. As a result, your business saves delivery costs and time. Moreover, the Magento 2 – inventory management tool integration can provide you with reports on best-selling products and most shipped destinations. It would help if you used this insight to improve your marketing campaigns.

4. Online Visibility Management Platform

You cannot ignore the need to optimize the Magento 2 web store for search engines on the Internet. All your financial investments and effort will go in vain if your website doesn’t appear in top results when someone searches for an item on Google. The optimization is an ongoing process. Online visibility management and analytical tools such as Google Analytics or SEMrush help businesses monitor the website performance. You can conduct a website audit, reveal its weaknesses and eliminate them. This way, your eCommerce website will stay on top of search results.

5. BI Tools

Customer data is a valuable resource that businesses possess. However, it’s useless if you don’t know how to utilize it. BI tools allow creating dashboards and reports to visualize the data. For example, if you provide coupons for the first purchase, you’ll see how many people claimed it and how many used it. In addition, you’ll be able to track which month or season is the most profitable one. Then, you can leverage these valuable insights and make data-driven decisions. 

Final Thoughts

The mentioned tools are must-haves for running a successful Magento 2 webs store. The technology market offers different CRM and ERP solutions, BI tools, and inventory management systems. So, regardless of your business’s peculiarities, you can find a tool that suits you best.

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Is it Promising to Study E-Commerce For Students of the UK?

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E-commerce, is selling or buying services or goods via the internet. And the transfer of data and money that happens during buying or selling is also known as internet commerce or electronic commerce. In recent years, e-commerce has become very popular, almost 96% of the population in the UK uses the internet, and 86% of those people are expected to make at least one purchase through the internet in a year. Making e-commerce careers extremely attractive to young university students. 

Everyone can benefit from a career in eCommerce. Starting from independent freelancers, small businesses, and even large corporations. You surely have heard someone say, “you need to check this online clothing store” or “this essay writing service is a must” basically, eCommerce has endless opportunities. You can find many retail stores that sell directly to clients or wholesales that sell to retailers, subscription services, or digital products, and even the best essay writing services and online courses are purchased and paid online. 

The development of the eCommerce market is amazing, and the United Kingdom has the largest e-commerce market in Europe, with total projected revenue of 200 million euros. Although the eCommerce market also plays an important part in the broader economy of the United Kingdom. Almost 8% of the GDP is attributable to eCommerce, and that number is expected to rise, as more and more retailers shift towards online retail stores. Also, selling services or products online has a lower cost than the traditional methods have. Basically, e-commerce reduces the variable and fixed cost, and people are able to get their services and products for a lower price. These are some of the many reasons why teachers implement lessons of e-commerce in education. 

There are five e-commerce perspectives, B2B, B2C, C2C, C2B, and D2C. 

  • B2B or Business to Business refers to one business selling services or products to another business, like a wholesaler and a retailer or manufacturer and wholesaler. This kind of e-commerce usually involves software, raw materials, or combined products. 
  • B2C or Business to Consumer is the most popular model of e-commerce. This means that the sale is taking place between a consumer and a business, like when you buy a dress from an online store. 
  • C2C or Consumer to Consumer happens when a service or product is sold from a consumer to another consumer, this kind of sale takes place on platforms such as Fiver, AliExpress, eBay, etc.
  • C2B or Consumer to Business happens when an individual sells their product or services to a business. This encompasses photographers, freelance writers, consultants, etc. 
  • D2C or Direct to a consumer is the newest model of e-commerce. This refers to a brand that is directly selling to customers without going through retailers, wholesalers, or distributors. The most popular D2C items are the sold subscriptions via platforms such as Facebook, Instagram, Snapchat, Pinterest, etc. 

And all of them bring many benefits. Some of the biggest ones are the simple and faster consumption that allows a quick delivery, easy returns, and 24-hour sales. The companies are no longer restricted by physical or geographical barriers, and consumers from all around the world can shop on any e-commerce site. It offers a personalized experience to the customers, and most importantly, it requires minimal expenses to launch such a store. 

However, to be able to succeed, e-commerce jobs require skills such as software development, SEO, Data analytics, Writing skills, Design, Artificial intelligence, etc. 

Conclusion

With that said, it is promising to study e-commerce because it opens many career doors. To start with e-commerce, you can work as a Marketing specialist, SEO content writer, Administrative assistant, etc., and once you get the needed experience, you can work as a User experience designer, Community builder, Developer, Business analyst, etc. basically the options are endless because e-commerce powers the future of many businesses.

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Best Selling Online Sites to Start Your Ecommerce Business

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Best Selling Online Sites

Do you want to build a small business? Start by making an existence as a business on selling online sites! It is true that selling online sites are challenging when you first start working on them. When done right, there will be a lot of profitability aspects for your small business! The crucial thing about having an online business is you will have to do all the marketing of your business by yourself.

However, this is not that difficult anymore as you can hire an expert search engine optimizer and boost the traffic of your website. The good news about having a small business on an online selling site is that you will not have to pay any transaction fee to a third party. All the profits that you make from your online business will be yours without any additional expenditures and expenses.

There are many platforms available where you can start your selling site and give a boost to your e-commerce business. The world of online selling and business has been completely changed after the introduction of e-commerce. Are you a small vendor? You can succeed in the online marketplace when you deal with all the challenges smartly!

Let’s have a look at the well-known e-commerce platforms below!

Create Your Store with E-commerce Ready Platforms

Gone are the days when people used to sell their products in garage sales and market them manually on social media. Now the era of technology is thriving, and people are creating their own online market selling places by using the sites that are available for this purpose online. Are you are a small business vendor who is looking forward to expanding their business through the internet? Do this by following the simple guidelines of online selling platforms for small businesses.

There are many sites like this available for small vendors so that they can succeed in the online marketplace and sell their products quickly. It is true that there are many challenges for a small business online selling site when it comes to the marketing aspects.  When you follow the right tips and tricks, you will be able to face all the challenges.

A small business online is going to be very profitable for you as a vendor. You will not have to pay any additional expenditure for third parties. No matter which products you want to sell online, there is a sales platform available according to your requirements.

Let’s have a look at some of the best platforms for creating an online selling site:

1. Selling Online with Shopify

Shopify is a Canadian based e-commerce platform for small business vendors. You can easily use their Shopping Cart solution to sell and ship your products to your customers. The admin panel of Shopify is user friendly and processes the orders quickly.

2. 10 Alternatives to Sell Online with Shopify

 1. BigCommerce

 2. 3dcart

 3. Volusion

 4. Square Online Store

 5. PrestaShop

 6. Magento

 7. WooCommerce

 8. Weebly

 9. Wix

10. Squarespace

General Online Marketplaces to Sell Anything

1. Amazon

Amazon is the biggest marketplace if you want to open an online store of any product. Are you are an eBay user? Amazon will be more comfortable for you to understand, whereas it is a vast marketplace. Buyers from around the world trust and rely heavily on Amazon for providing good quality services and products.

2. Bonanza

Bonanza is a viable option when you are looking forward to expanding your e-commerce business further. Currently, more than 40000 sellers are conducting their e-commerce business operations on this website.

3. Craiglist

No matter what kind of product you want to sell online, you can always make an account on Craiglist. The best part about this telling website is that it does not charge any selling fee. It is a forum based selling site, and you are on your own.

4. eBid

eBid is the right platform for you, no matter what you want to sell online. You can sell almost anything on this platform but keep in mind that you will be selling to a smaller number of buyers when choosing this platform for your online business.

5. eCrater

It is a free online marketplace for new small businesses, no matter what you want to sell online. There are no fees and expenditures, and you can quickly start your small business here.

Online Selling Sites for Handmade Items

1. Etsy

Etsy is an arts and craft selling platform for sellers looking forward to selling their vintage products online. Do you specialize in handmade goods? The perfect online selling site for you will be Etsy. You will have more excellent prospects of profitability when you choose this site as compared to Amazon.

2. Artpal

With Artpal, you get a platform to sell all kinds of arts and traditional paintings. Do you wish to sell art-related goods? You can easily do that by using this platform. It is free for the sellers, and there is no commission cost. It provides a user-friendly interface to both the sellers and buyers; that is why it is an excellent choice for selling art.

 Many buyers recommend this platform for purchasing art because there is a feature of print-on-demand service.

 3. Artfire

Artfire is a platform on which you can sell art-related goods online. Many people prefer this platform for selling art as compared to the other traditional media because of the features it is providing to the sellers. With other platforms, you need to relist always, and it is very time-consuming. You will have to pay a fixed price per month.

Websites to Sell Products Locally

1. Facebook Marketplace

Facebook provides a marketplace for the sellers and buyers who want to sell and purchase the product locally. You can find the buyers and sellers in your local area easily by using the Facebook Marketplace.

2. Craiglist

Craiglist is a selling platform in which you can sell your products and display them on a forum. No matter what kind of product you want to sell, you can easily use this platform, and it does not have any selling fee.

3. Nextdoor

Nextdoor is a trusted marketplace to sell goods locally and display them online. The best thing about this marketplace is that it is safe to use, and it is encrypted using internet protocols.

Selling Online Platforms for Used Clothing

Used clothing is in demand, and you can sell yours now! Many people from around the world sell their pre-loved clothes online or youtube merch. There are many platforms for selling used goods online. Let us have a look at some of the best ones down below:

1. ASOS (UK)

2. BagBorrowOrSteal 

3. Fashionphile 

4. Just Between Friends 

5. Recycle Your Fashions 

6. The RealReal 

7. LePrix

8. ThredUp 

9. Tradesy 

10. Yoogi’s Closet 

Selling Online Marketplaces for Used Jewellery, Wedding Dresses and Accessories

You can now sell your used jewellery, wedding dresses, and other goods online. There are amazing marketplaces for this purpose available on the internet. Let us have a look at some of the best ones down below:

1. NearlyNewlyWed

2. OnceWed

3. PreOwnedWeddingDresses.com

4. Sell My Wedding Dress 

5. StillWhite.com

Vintage, Collectible and Antique Items

Vintage shops are very popular on the internet, and people are always looking forward to selling vintage stuff online. Sell vintage goods on the following best vintage sites online:

1. RubyLane

2. The Internet Antique Shop

Places for Used Electronics, DVDs, CDs, and Games

Are you one of those people who are interested in selling their used DVDs, CDs, and other related items online? Because, why not? Have a look at some of the best sites for this purpose down below:

1. Decluttr  

2. SellDVDsOnline 

3. BuyBackTronics

4. Exchangemyphone

5. Gazelle

6. Glyde

7. NextWorth

8. SellCell

9. Swappa

10. uSell

11. YouRenew

Selling Your Photos/Photography Here

Are you a photographer? There is nothing better than selling your photography! As an artist, it is always nice to sell your stuff online and get some appreciation for what you do! So, let us have a look at some of the best websites for this down below:

1. 123RF

2. BigStockPhoto

3. CanStockPhoto

4. Corbis

5. DepositPhotos

6. Dreamstime

7. Adobe Stock

8. FreeDigitalPhotos.net

9. iStockPhoto

10. ShutterStock

Online Platforms for Selling Used Books

Books are our best friends and it never hurt to get some nice books. It is a worthwhile investment because books are the best companions. That is why everyone is looking forward to purchasing books online! Are you wondering where you can sell books online? Check out the list of online platforms for selling used books below!

1. BookFinder 

2. BookScouter 

3. Cash4Books 

4. Powell’s

5. Sell Back Your Book 

Creating Your Own site or Selling on Ready Marketplaces?

Online selling marketplace sites are top-rated among the people looking forward to selling their goods online. In case you are one of those people, you should go for it! Many people prefer online marketplaces because it is:

  • More profitable 
  • Makes the process of online selling easier

Disadvantage:

The disadvantage of an online selling marketplace is that sellers have to pay a fee to the marketplace owners.

Selling Site:

Selling sites are more challenging for the sellers to manage in the longer runs. The sellers have to work all the operation of the site by themselves.

People prefer it because:

  • All the profit is of the seller without any deductible fees.

Disadvantage:

Sellers have to spend more time in managing the operations of the site.

Final Words

Do you wish to start your e-commerce business? There are numerous viable options available for you to get started! In this article, we have mentioned the top-selling sites online. Pick the one that fits your requirements and get ready to start your e-commerce journey!

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