Research shows that up to 80% of internet users make at least one online purchase in their lifetime. This statistic explains the trend by most businesses to launch online stores. They are simple and cheap to set-up compared to the brick and mortar methods, and retailers can reach more customers within a short period. In fact, marketers predict a surge in e-commerce sales by up to $523 billion in the next few years. These are some pretty great facts for any retailer who wants to set-up an online store, but research also shows many e-commerce businesses do not make profits. Some cite ineffective marketing campaigns while others have poor business operations. Savvy entrepreneurs share their insights on how to improve the chances of success of their online stores by doing these 7 things when starting an online store.
Choose your System Carefully
Naturally, retailers will follow what other retailers are doing. However, some companies use specialized custom solutions developed on old systems that may not support your business. As such, any online startup business should choose a popular system that is well-supported. It should also produce attractive shops and have a good community. Retailers who don’t want to use codes can choose hosted platforms like Shopify.
Pay Special Attention to SEO
A while ago, developing SEO optimized content for an online store was pretty easy. However, with the unpredictable changes in Google algorithms, it has become difficult to create unique content for the stores without duplication. It does not render SEO impractical; in fact, it is the most important tool for stores that want to improve their ranking and visibility.
Insure Your Company
The motor-trade business is more vulnerable to risks than any other online business. Van insurance, road accident policies and other covers protect your business from losses. Online businesses are also prone to losses caused by hacking, data loss, and loss of physical stock hence, the need to obtain a cover for your company. And if you are launching an online store that deals in kids, clothes, toy and other such accessories, you need to insure your company. Parents are very protective of their kids and will not hesitate to sue your company in the event of injuries or allergies caused by your products.
Check Out the Competition
Every business wants to stay ahead of its competition. With online businesses, retailers should develop websites that have the highest ranks for their products. They can do this by searching keywords that they want to use on their sites and comparing the results. If the competitor websites are oddly designed and dated, you have an opportunity to sell in that niche.
Implement Structured Data & Videos
They are also referred to snippets and are used to describe the content in the form of videos or customer reviews on a particular page. Search engines like Google use it when the page appears in the search results.
Run a Newsletter
Newsletters make effective marketing tools for people with online businesses. They allow you to offer discounts, coupons, useful information or announce new products to prospective clients. You want to setup this marketing tool before launching the store so that your visitors are updated about the new products or services you may be offering.
Get a Social Presence
Evidently, social media presence accounts for the success of any online business. A report from Rutgers shows that 65% of adults use social media like Facebook, Twitter, and Instagram thus, the best tools for creating awareness and advertising. Some companies prefer outsourcing this form of marketing, but they should also be ready to participate in the platforms by creating content and responding to customers.
Launching and running a successful online store today isn’t as easy as a few years ago. These 7 things should help you set up the business online and make a notable impact on your industry. Any business setup requires work hence, the need to focus and assign ample time during this phase of your company.