In case you have not tried eCommerce, you are losing the game, and your business growth might be at risk. In the present era, online presence plays a vital role in expanding businesses in various industries. People are ever busy, and when they need anything, they tap on their social media feed or Google to locate a store close to them.
eCommerce (electronic commercial transactions) helps you to get your business in home owner database front of thousands or millions of customers - both local and international markets. Even if you have never sold anything online, the process is easy, and you can sell whatever products and ship them to their location. Several tools are available to help you set up your eCommerce store and start selling to customers interested in your products.
How to Set Up an eCommerce
An eCommerce store operates online. I want to guess that you already know that. Therefore, you will need a domain name, a host for the platform, and a website (eCommerce software). You can hire a developer to create the site for you. Open-source options like osCommerce, PrestaShop, and OpenCart can suffice your needs. All you need is to customize the design to meet your needs and desires.
After creating an eCommerce site, you need to populate it with your products. You create product categories, and each product falls under one category or more. For each posting, include a description and some images. Remember to set the price and any shipping terms.
You also need a payment gateway to process your sales. One thing you need to remember, you should never process customers' credit cards on your eCommerce website. Integrate third-party applications like PayPal or Stripe to handle that part.
Marketing Your Store
You have a great product, and your eCommerce store is ready. How do you reach your prospects? Marketing is fundamental for any business to see success. Since your business now has an eCommerce platform, you need to reach potential buyers online.
Digital marketing, like social media and PPC advertisements, is an ideal way to get customers for your products. Creating content for your audience can also bring in organic traffic from search engines. Various marketing strategies can help you to establish and grow your eCommerce business.
Selling Online
When you start receiving traffic and prospects, they may want to check out directly on your product page. But what will inspire them to pay? One of the ways customers decide whether they will buy or not is your pricing. Choosing the best price for your product can help you make more sales or get bounces on your online store.
1. Basing on Production Cost
Are you the manufacturer of the product you are selling? Then this method might work for you. It all boils down to the expenses you incur to get the product ready for the market. Using this method, you add the production cost and your desired (but reasonable) profit to create the price.
