Step By Step Guide: How To Generate Sales From An E-commerce Store
October 31st, 2017
The E-commerce market is expanding and 2017 saw a drastic increase when 60% of shoppers went online to shop their favorite products.
This was nearly triple rise as compared to the online purchases of 2016.
With the introduction to analytics, pay per click advertising, search engine optimization, content marketing, email marketing and social media marketing the game of marketing is increasing to get great results for business owners.
But, if you are just starting out with your online store, you cannot go random about it. In this article, we will guide you to the strategies you can build in order to create a profitable ecommerce store for your business.
Building Up A Business Model
So how do you choose on what are you going to sell?
To start with the process of brainstorming, create a business challenge that is approachable. This can be done by choosing a product in your niche. Something of which you have a good knowledge of.
Since content marketing is an important phase and most of times you will find yourselves writing a sales copy, choose products you’ve experience with.
You need to construct a business model that addresses on what and how do you start with the sales of your store. Let’s start by supposing that you want to build a store to sell shoes online.
There are 2 ways to face this challenge:
- Either you can start with your own line of shoes, wherein you connect with the manufactures and sign them in your project.
- Or you start with what’s already there and connect with factory manufactures who’ll offer you wholesale rates on the products.
With the first option in mind, you need to start from focusing on how the product will be made, how the payment and shipping will be done and on what platforms you need to market it. This is a tedious step to take for any business owner.
If you have opted for the second option, then you can directly jump to the payment and shipping followed by the marketing strategy that brings in profitable business.
In this blog post we’ll focus on the second option and help business owners in increasing their profit margins by 100%.
Study Your Market
After you are done with the study of what you are going to sell, it is time to study your competition. Let’s suppose you want to sell Nike shoes online.
You can always check the largest ecommerce store- Amazon for this. There are variety of sellers on Amazon who sell the same product at different prices.
It is important to check what’s already selling online.
Here you’ll find a great variety of shoes from Nike. You can study the sellers and know how they are showcasing their products.
Here’s what you can learn from Amazon:
The seller has narrowed down the description into points to explain the best qualities of the goods. Your product descriptions should be short and simple. Avoid exaggerating.
Looking at these products can be a good inspiration to your business model.
Becoming a Distributor
Why should you become a distributor before having your own website?
The reason behind investing in a website much later is simple. Convincing manufacturers after you own an empty online store is a much tedious process than launching a website with products ready to sale.
Since you need to send in an application to become a distributor of brands like Nike and Adidas, the process of building your website should only start after your application is approved.
When you want to source your products from a particular brand, you should become their distributor.
To become a Nike distributor, you must have a business license and a retail store to apply. You can send Nike an application, requesting their services. Your application will then be reviewed by marketplace and territory managers. Mostly, these applications are free of any charge and can be applied by anyone.
Once your application is accepted, you officially become a Nike Distributor and can sell shoes online.
Setting Up Your Ecommerce Store
Since everything is online now, setting up an ecommerce store isn’t a big deal. Either you can become a seller at websites like Amazon (less profitable since Amazon takes share of the profit as well).
Or you can get help from an IT expert to build your very own personal space to sell Nike shoes without sharing the profit margins.
Building a Website
Before hiring a team of experts to design and develop your ecommerce store, make sure you ask them their approach.
Big ecommerce stores are best setup in platforms like Magento. For small and medium size businesses you can use Woocommerce- An ecommerce platform for WordPress. These platforms load fast and make user experience better for your customers.
If your business is going to be handling many products and you want to build apps to sell these products, our suggestion would be to build it on Php framework such as Laravel and manage Front-end with Reactjs.
These technologies would give you flexibility in customising the store in any way you want and will be easy to sync with the app.
Buying the Domain Name Hosting
Your domain name will soon become your own identity, so it is important that you research a good domain name for your business.
According to Google’s new updates, ecommerce websites now need a SSL certificate that encrypts sensitive data like credit card details and other personal information.
Once you have purchased the domain name, you should get a hosting account like Media Temple.
Magento Community Edition is best for open source version of ecommerce platforms. Magento gives merchants the power to access other features with the numerous plugin options and themes in the huge Magento Connect marketplace.
Though Magento is a widely used platform there isn’t any technical support team that will help you build the online store on your own.
Another option is turn a WordPress Websites into online store with WooCommerce. With a huge number of plugins that take care of your site security, website performance, traffic growth, image optimization and website appearance, WooCommerce now has over 4.5 million downloads.
How To Get Traffic on your Online store
The next important thing is to get traffic on your store. And if you are up for this, this can be a lot more fun than you can imagine. There are many ways to get traffic but you have to experiment what’s working the best for your business.
Before you start upon the marketing strategies, sit down to know who exactly your customers are, what do they need and what they do.
Which audience you want to target- Regional or National?
Which age group will be more interested in using your product?
On which platform will you find your potential audience the most?
When you have this kind of information, you can set goals and get advantage from opportunities where your customers can find you. Also, this information is highly essential to create business and sales copies to evoke interest in your potential clientele.
Besides On-Page and Off-Page SEO of the website, here are few other tactics to drive traffic to your ecommerce store:
Analyzing Traffic With Google Analytics:
Google Analytics has a wealth of information about any site. The information is relevant as it regularly displays how your website is performing on the web.
Also you can know from where the traffic is coming, the bounce rate and interests of your users.
Using Google Analytics is an ultimate way to determine what is working for your website and what is not.
Google Adwords are the best way to increase your investment on ROI. Google Shopping Ads are normally triggered when Google thinks that you’re searching with the intent to buy something. When you invest in these ads and set preferences, your ad will be fetched by users who are looking for something to shop.
Or when you search “Funky Socks”
When your Ad is displayed on the top, interested buyers are directed to your website with a single click. This automatically increases sales.
Note: Make sure your ad is relevant enough and customized according to your buyer as you need to pay for every click there is on the ad.
Re-marketing – The long marketing
If you want to maintain your presence on the web, it is important that you have a long term plan for your eCommerce store. A great way to ensure this is by Re-marketing.
Remarketing a.k.a Retargeting allows you market products to people who visited your website, saw something they liked but did not buy. With Remarketing you can follow these people on the web and show them those products while they are browsing websites like Facebook, Instagram or other websites other than social media.
Did you know – Re-marketing helps you increases your sales by 70%.
Another way of Re-marketing the products is by sending your customers the the “cart abandonment” emails. This is only when your customer came to your online store, liked something and added something with the intent to buy but left somehow.
In this case you can drop in an email or send an app notification to remind and encourage them to complete their purchase.
Specially when there is sale on the same products, sending them a simple message of the discounted prices is a great way to retarget your customers.
It is important for big business to indulge in data science to ensure you get all relevant traffic on the website.
The study includes a detailed study of which customers are coming back to you? How frequently they visit your website and how often they make a purchase?
How users are reviewing your services on the basis of payment, delivery and customer service? Keeping a data of all this information can make a huge difference in sales as you can built sales strategies based on this data.
Your team can analyze all this data and increase your ROI.
Data science allows you to study your respective market and make changes in your service accordingly.
Content Marketing has become one of the most crucial methods for brands to gain recognition especially Ecommerce brands.
Obviously the results don’t come overnight but they lasts a longer period of time. Also, content that is combined with good SEO becomes unstoppable.
Here’s a study conducted by Lemonstand on content marketing for ecommerce stores:
This is the reason, we at ILLUMINZ stress on content strategy for every business that wants to generate traffic for a longer period of time.
Some advantages of content strategy:
1. Brand awareness
Content is the best way to spread a word for your brand. With meaningful content you can get your customers interested in your product and influence them to make a purchase from you.
2. Building Loyalty
Another thing that content does is – build a loyal customer base that trusts you and your service. When you repeatedly let them know what’s new in your product industry they get to know that you sell authentic products and not the first copies.
3. Product research for ecommerce
Did you know 71% of buyers conduct an online research before they actually purchase a product online? How about you yourself give them the information on your own website. This will not only help them make decisions but will also increase your credibility as the owner.
4. Enhancing customer experience while shopping
Product descriptions matter a lot when someone is intending to purchase anything from your website. A good content strategy always makes sure that the descriptions are neatly place in bullet points (for the once who want to have a quick overview) accompanied with a whole detailed version explaining the product features.
So, this is how you can set a successful ecommerce store that generates a profitable margin on products.
We discussed how you can connect with brands in your niche in addition to how to market it to the world.
Have an idea in your mind? Get started with an eCommerce store today and see how things work out for you.