How to Launch Online Business

It has never been easier to create an online business. The popularity of e-commerce is on the rise and more and more shoppers are turning to the internet for the convenience of shopping from their living rooms. Whether it’s physical products, digital products or services, you are selling, an e-commerce site enables you to connect with customers 24/7 and at a lower cost than a physical store.

Do You Need an Online Store?

If you sell products, probably yes. An e-commerce site provides you with increased exposure, 24-hour reach, more accurate data collection and complete control of the shopping experience. Having your very own online store eliminates fees paid to third party platforms for every transaction.

Decide What to Sell

Before you begin, you will need to decide what you will sell. Consider the following questions: Will you sell a physical product, a digital product or a service? How does your product differ from others on the market? Who will you sell to? What are they looking for online? The most successful e-commerce businesses offer a solution for a specific need to a specific audience.

Register a Domain Name

Your domain name should be simple, memorable and easy to spell. Where possible, choose a .com domain. Hyphens and numbers should be avoided. Once you’ve decided, verify that your desired social media handles are available to ensure that your branding is consistent.

Choose Your E-Commerce Platform

Here are some of the most popular e-commerce platforms available:

1. WordPress with WooCommerce is the most flexible and widely used platform. It’s open source and highly customizable. A good fit for small to medium businesses.
2. Shopify is a hosted, all in one solution that manages the technical details. A good choice for businesses who prefer simplicity.
3. Magento is a powerful enterprise level platform perfect for large catalogues and complex operations.
4. PrestaShop is an open source platform that is ideal for multilingual support. A good fit for international businesses.

Most platforms will offer a free trial. Take advantage of this before you decide.

Select a Web Host

If you are using a self-hosted platform, your web host will affect your site speed, up time and security. When choosing a web host, look for the following:

• Fast server response time
• Uptime of at least 99.9 %
• SSL certificates
• Automated daily backups
• Technical support

Do not base your decision on price.

Set Up Payment Processing

Choose a payment processor that integrates with your platform and offers the payment methods your customers are most likely to use. Look for transparent pricing and fraud protection. Multiple payment options will reduce the rate of cart abandonment.

Plan Your Shipping Strategy

If you are selling physical goods, you will need to decide on your shipping strategy. Consider your carrier options, your delivery options and whether you will offer free shipping, flat rate shipping or calculated shipping. Make sure you are transparent about your rates and delivery times. Unexpected shipping costs are one of the biggest causes of cart abandonment.

Add Your Products

It’s time to add your products to your online store. Product pages are where the purchasing decision is made. For each product, make sure you include the following:

• Multiple high quality product images
• A clear description that communicates the benefits of the product
• Specifications of the product
• Clear and transparent pricing Information

Write your own product descriptions instead of copying them from your manufacturers. Not only will this improve your search engine rankings but it will also ensure your store stands out from the crowd.

Promote Your Store

Your store is now live but, without any promotion, nobody will know about it. Focus on the following:

• SEO. Ensure your product pages, category pages and blog posts are optimized for search terms your customers are using. SEO is a long term strategy that will deliver ongoing results.
• Social media. Identify which platforms your customers are using and create a business page. You can also use social media advertising to drive traffic to your store.
• Email marketing. Start building a list as soon as your store is live and use it to connect with your customers and encourage repeat business.

Maintain and Improve Your Store

Launching your store is just the beginning. You will need to maintain and improve it over time. This may include:

• Keeping product listings up to date to keep up with trends
• Testing layouts and pricing strategies
• Monitoring your site speed for improvements
• Collecting customer feedback
• Testing your store regularly on multiple devices. A positive mobile experience is a must.

Can You Really Make Money Online?

Yes, you can but it’s not as simple as launching a store and waiting for the money to roll in. The benefits of an e-commerce store include lower start up costs, access to a global market and systems that can generate revenue 24/7. But, the competition is huge and success will require a solid strategy, a lot of hard work and a commitment to delivering a great customer experience. Yes, you can make money online but your success will depend on your ability to execute.