E-commerce is becoming more popular than ever. Online shopping is becoming more popular because of the ease and variety it offers.
According to Stats Canada the pandemic has increased the shift from physical stores with an 110% growth in ecommerce in 2020. According to experts, an additional 5.21million Canadians will shop online by 2021.
You will be able to explore online sales with this in mind. Entrepreneurs with a passion for e-commerce have many advantages. There are low entry barriers, making it an attractive option. It’s not difficult for anyone to start an e-commerce business, but it is highly competitive. Many brick-and-mortar owners switched to e-commerce after the pandemic, which is making it harder for brand loyalty to be maintained.
You will need to put in the work and create a solid foundation to succeed in ecommerce. To succeed in e-commerce, you will need to conduct market research , understand your target audience, develop a business plan , and follow all legal requirements to ensure compliance with local, federal, and provincial laws.
These are just a few of the essential tips that will help you launch a successful online company.
Online Business Ideas
Find your next great idea. You might feel overwhelmed by all the options available to you when you’re still planning your ecommerce business. Most likely, you will find success in an area that interests you or is familiar to your heart. Here are some e-commerce business ideas to get you started. There are hundreds of other ideas, but these are the most popular.
1. Affiliate marketing
Affiliate marketing refers to when an online retailer pays a third party for traffic and sales generated by its referrals. Referral marketing can be done by the third party via social media, email lists, or blog posts. Each time someone converts using your unique referral code or link, you earn a commission.
2. Subscribe to boxes
Subscriber boxes contain a selection of goods that customers get from a business. Subscription boxes can be found in almost every industry: food prep, makeup, and fitness.
You work with artisans and brands to curate subscription boxes. Consumers expect to be surprised at what’s inside the box. However, there are some cases (such as meal prep kits), where the customer can choose what they get.
3. Virtual assistant
This could be the right fit if you are a highly organized person!
An VA is a person who helps executives, entrepreneurs, and businesses organize their personal and professional lives. The duties of a VA can range from scheduling appointments to basic marketing management, and everything in between. Everything is now online.
4. Teach an Online Course
If you are an expert in a particular subject, teaching online courses is a great idea. This online business idea doesn’t require much financial investment.
Dropshipping means that you set up an online store to sell products from other people (i.e. you don’t do any manufacturing or shipping). You then get a commission on each sale.
This is a great advantage because you don’t have the risk of buying stock in a product that doesn’t sell and then losing your money. You don’t need to invest as much and the entry barrier is lower.
6. Flip Thrift Store Finds
Selling second-hand treasures online is a great idea if you enjoy thrift shopping and finding great deals.
Potential customers are looking for cool stuff but don’t want the hassle of digging through old soccer jerseys or braided belts in order to find that one unique item. This is your chance to position yourself as a trusted curator who can find great vintage pieces for others.
You want more ideas for business? We have more business ideas for you.
In 12 Easy Steps, Start an Online Business
Most people now use the internet to find businesses, shop online, and research products. Your company could be missing out on significant revenue streams if it doesn’t have an online presence, such as a website or social media pages. You could reach hundreds of thousands of customers.
It is now more important than ever to move your brick-and-mortar store online. Here are some ways to take your small business online.
1. Do your research
Before you jump into your new online business, there are a few things to remember before you move it. Researching the different social media channels and industry competitors you will be using or meeting online is the first step to transferring your business online.
Spend some time comparing your business to other businesses in the industry. You can look at their social media channels and websites to see what is working well and what could be improved for your services. Follow your target market online. What social media platforms do they use? What do they have to say about online services that are similar or identical to your business?
It will make it easier to make business decisions that are right for you. Here’s how your small company can offer online services if you are concerned that your offline business services will not translate well to the Internet.
2. Select an e-commerce business model
Most people associate e-commerce with an online store, which is the digital equivalent to a brick-and mortar store. There are many e-commerce business models. Some require that you build an e-commerce website, while others allow you to set up shop in an existing marketplace. Others require that you manage the manufacturing, marketing, and shipping processes yourself.
Some allow you to make a profit even though you are not handling the product. The type of product you are selling, the amount you have to invest, your skills and capabilities, and your time frame for reaching profitability will all affect which model you choose.
These are some examples of e-commerce models you might want to look at:
Business to Consumer (B2C).
Businesses can sell directly to customers using a B2C model. This works for both services and products, and it is what most people associate with e-commerce.
This model can be modified in many ways. Direct-to-consumer business models, for example, mean that the manufacturer is responsible for the distribution of the product. D2C businesses’ products won’t be sold in brick-and-mortar stores or on third-party ecommerce websites. These companies sell only through their physical or online stores.
D2C is a great business model because customers can trust that the product will be original.
Endy, Hello Fresh and Dollar Shave Club are examples of D2C companies.
To run a B2C online business, you don’t have to be the original creator of the product you sell. A curator is someone who gathers products from different manufacturers. This could be an online version of a department or variety store. A subscription model is also possible.
You need to consider how you will fulfil orders, regardless of the model you choose. Although you could ship the product and take delivery, it is likely that you will need a place to work.
You could also sell the product and collect the money. The manufacturer or third-party service can dropship the product. Dropshipping has the downside that you can’t control the customer experience. However, you will be responsible for any negative reviews or complaints.
Business to Business (B2B).
A B2B model is where one company purchases goods and services from another. They don’t usually sell directly to customers. Opportunities abound in B2B commerce, which is one of the fastest growing e-commerce segments . This type of business is more expensive to start and takes longer to get off to the ground. Complexity is a hallmark of the business buying process. There are more decision-makers involved and more purchasing orders processes. This model requires that you consider how you will fulfill orders.
Consumer to Consumer (C2C).
C2C is a business model that connects customers and other customers to trade goods and services via your platform. This is the online version for a broker, and the platform takes a cut of every transaction. This type of business was first introduced by eBay. Over the last few years, C2C companies that specialize in clothing, like ThredUp and Poshmark, and Airbnb for short-term rentals, and TaskRabbit to do household chores and errands, have emerged.
C2C offers higher profit margins, less hassle with products fulfillment and more flexibility but can take longer to get off the ground. You must focus equally on selling and attracting buyers.
Customers satisfaction is a challenge as not all sellers offer the same quality products and services. However, the buyer will associate your brand with the experience. Fraud is another challenge. Criminals set up fake listings in order to steal the money and then run.
Consumer to Business (C2B).
C2B is a new category where customers of a brand create value for it. A blogger could become a paid influencer of a brand; become an affiliate seller of its products; create a product, experience, or service with the brand, and market it to both audiences; or provide inventory for digital advertising companies.
This type of business doesn’t require you to worry about product fulfillment or products. It is important to build a strong enough audience to attract brands or drive traffic to your site in order to generate substantial revenue through affiliate sales and ads.
3. Identify your products
After you have determined the best business model for you, it is time to choose the right product. A product or service that is highly sought-after and has low competition will be the best choice. It’s not always easy to do this, especially since everything seems to be available online.
It is important to create a niche for your business. Think about what you love or are knowledgeable about, the products you create, your unique skills, and the products you sell.
These products are easy to find. You can search online for products you want to sell. Keyword research will help you find out how many people are searching for that product or service and how much it would cost to advertise it. Google trends will alert you to new problems or hot products.
Do your research if you are thinking about selling on an existing platform. Find out what they have to offer, the prices, and what competition is available. You can read reviews to find out if customers are satisfied or if there are unmet requirements you can meet. Look for similar products to find out if they have ancillary products that could be used to create a value-added product or a better version of an existing product.
4. Create your brand
To attract customers to your business, it is essential that you create a brand image and voice that appeals to them. Your brand’s high-quality services and products will make customers loyal, but what makes them feel connected to you is the most important thing.
After you have chosen your offering, it is time to pick a solid brand name. You want something that is memorable and speaks to your offering, not obscure it. It should be distinctive from the rest. You should think about how you can incorporate your business name into the logo or other visual representations.
Hiring a graphic designer
Visual branding is an essential element of any e-commerce site. You might think about hiring someone to help you bring your brand to life. Your website is your storefront. It should be attractive. To ensure consistency branding across social media and advertising platforms, you will need a complete package. This includes a logo, website design and a visual branding stylebook.
These are some of the most popular services that you can use for hiring designers
5. Select a web host, and then purchase a domain name
Sometimes people get confused between domain hosting or purchasing a domain. Both are essential but distinct aspects of starting an e-commerce shop. A domain name is best compared to the home address for your website.
Make sure you research domain name availability. There are many tools that will help you find out if the domain name for your brand is available. These are some of the most popular domain research tools:
- Google Domains
Web hosting is where your website’s files are stored. The web host is your website’s home. Web hosting is essential for all websites.
The IP address of your web host company is translated to the domain name when someone enters it in a browser. The computer stores your website’s files and sends them back to users’ browsers.
6. Create your website
Your website is your online store. The storefront is the main part, while the back is where the operations are done.
You can hire website developers to build your website. If you prefer a faster option, you have the choice of ecommerce development services and other software platforms. You can think of online marketplaces such as Amazon, Easy and Shoplift.
Consider how easy it makes it possible to control the platform and how user-friendly it is. Also, think about how the platform will help you brand your business.
Google Analytics and Search Console are now available
Google Analytics allows you to understand how users interact with your site. This information can be used to improve your users’ experience and create well-informed campaigns. Search Console allows you to manage security and maintenance issues such as malware, hacking and site load errors. This will ensure that your users have a seamless experience.
7. Social media presence
Social media pages are an integral part of moving your business online. Social media marketing can be an integral part of building a strong online presence.
You should follow the popular social channels of your target audience and create accounts and business pages on these platforms. Let’s say your target customers use Instagram or Facebook a lot. In this case, you should set up and maintain a Facebook and Instagram page for your business.
These social media platforms allow you to post your online moves, sales and promotions, quality content and blog posts, and provide customer support and interaction.
8. Stay connected
After you have created a website that effectively migrated your business to the internet, it is important to keep in touch with your customers. You will need to interact with your customers through your website and social media channels to maintain a strong online presence and connect with past and future customers. Here is where a social-content strategy comes in.
Plan out a publishing calendar and content calendar that will help you keep your business updated and promoting your content on social media and your website. Providing quality content and customer interaction will keep your audience connected while you grow your online store.
It is important to keep in mind that building a strong online presence will take time. It can take up to three months for content to become mature online. This means that you won’t see immediate results. Your business will grow if you are patient and persistent.
9. Use e-commerce software
To run an ecommerce business, you don’t have to be technically savvy. Many platforms have been developed by tech companies that make it easy to manage different business processes. These are the tools and software that you need to build your e-commerce company.
Software for shopping cart
Your customers can place orders online using shopping cart software. They can also choose the payment method they prefer. Either you set up your shopping cart on your site or use Shopify’s ready-to-use shopping basket software. This allows you to receive payments immediately via PayPal, credit card, or any other payment gateway.
It should be secure and easy to use.
Software for tracking shipment
Keep your customers informed if you want to keep them happy. You can do this with shipment tracking software. Shipment tracking software allows you to keep track of your shipment information and let your customers know the status of their orders at any time. Good providers will send you the shipment information so your customers can track their packages.
Software for analytics
Analytics tracking software can help you keep track of what happens on your website and other online platforms. This software can provide valuable insights into your customers, market demand, product popularity, search trends, as well as market demand.
While some software programs are designed for data scientists, others can be used by anyone with basic technical knowledge. Analytics tracking software can help you harness the power of big data for customer service, product development and marketing decisions.
Software for marketing automation
Every business requires a digital presence. Email marketing can help build a brand. If you’re new to eCommerce or don’t have the expertise to create the best marketing strategies, marketing automation software is a great option.
Marketing automation software can be used to eliminate the need to hire a team of employees. Software helps you to grow and attract new customers by allowing you to conduct lead generation and campaign analysis. The software can then be used to create new, better, more focused, and more profitable campaigns.
Software for loyalty management
Customer loyalty management software is a great tool to help customers stay loyal. This software helps you identify repeat customers and rewards them for loyalty. It is a great tool for customer retention. It can also identify potential repeat customers and send incentive coupons and gift cards to keep them coming back.
10. Offer support
You may now be curious about how to manage an online store after everything is in place and you have announced the big news to your audience. Many of the same responsibilities that you had for your brick-and-mortar store will apply to the online one. You may need to adapt some services to the new platform.
This online migration is not complete without customer service. Customers can contact larger businesses to ask questions about their products or services. Your small business might not have the funds to do this. Instead, create a contact page to answer customer inquiries.
11. Market and lead generation campaigns
Marketing is essential for any e-commerce business model. These are just a few of the many ways you can market online.
Paid advertising is the fastest and most efficient way to reach customers. Paid advertising can be expensive. Google and Facebook are great places to start if you are interested in paid advertising. They have the greatest reach and offer the most useful platforms.
Organic growth and search engine optimization (SEO).
SEO is the act of creating content that allows internet users to search for relevant content. Your content will appear in search results free of charge when they search for those keywords. SEO is not free advertising. It takes effort and time, and can be costly. It is something that you should invest in right from the beginning and continue to grow. Hire a professional if this is beyond your ability.
Influence marketing is a way to capitalize on the success of well-known individuals via social media. In exchange for products or other benefits, you can reach out and ask influential bloggers to review your products. You can also pay them for sponsored content that promotes your brand to their followers.
Referrals and word of mouth
The most powerful marketing is word-of-mouth marketing and referral market . When your customers have a positive experience with your product/service and then decide to share it with others, word-of-mouth marketing is what you do. Online reviews and ratings are the best way to spread word of mouth.
This type of marketing does not require an out-of-pocket expense, but you might need to develop a way to get reviews from satisfied customers. The main ingredient, and the most important investment, is creating a customer experience customers love to talk about. Positive word of mouth is the result of all that has gone before: choosing the right product and business model, creating a beautiful brand and ensuring seamless delivery and purchase.
12. Make use of the best cloud-based tools
These steps will help you to move your small business online and create an eCommerce platform. You’ll need the right tools to manage an online store and keep up to date with customer demands once you have it online. These cloud-based software and apps can be a great help in managing your business’ online and offline operations. These cloud monitoring tools will help you manage your new online store.