When starting an eCommerce business, the most vital part comes right at the beginning of the journey, in the planning process. You need to have a specific idea of what type of eCommerce business you want to run and which eCommerce model you will need to use. Obviously, if you are starting an eCommerce branch of an existing business, then you already should be following an existing business plan and model.
Which model are you using?
If you are starting your eCommerce business on the basis that you have an original idea, then you will want to follow the private labelling model. Rather than buying and reselling existing products like you would with drop shipping, wholesaling and white labelling, the private labelling model will focus around designing your own idea and then working with a manufacturer to fulfil orders and even shipping. Alternatively, you could acquire warehouse space and manage your own fulfilment.
What’s your niche?
Once you know what model you will be using, you will want to carry out extensive market research and identify a niche, or way in how your product differentiates from what is out there already. For example, who are the people you are marketing your business to? You will also need to find out what competitors there are and whether they are directly or indirectly competing with you. Most importantly, do these customers have a specific need that you can solve or can you capitalise on a variation of an existing product or service? Lastly, how can your business be better than what your competitors already offer, for example, a more fluid customer journey on your eCommerce website?
Create your identity
Last but not least, you need to formulate your brand strategy and identity. What are your business’s values? How you are you going to present your personality to the consumer? Answering these questions will help formulate what your business will be about. Your business name and logo will be the face of your eCommerce business and this should be taken into consideration when in the design process.
After following these steps, you will be well on your way to starting your eCommerce business.
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