Are you looking to set yourself free from the rat race, create an additional income or grow your pension pot? Launching an online store is the perfect way to be your own boss, create a second (or primary) income stream and work on a schedule that fits your lifestyle.
Starting an eCommerce business needn’t be stressful. The DropShipping and eCommerce experts at Armaan Resales explain how to start an eCommerce business from scratch with tips on making the most of your digital retail space.
eCommerce is Booming
Online shopping is about more than convenience and luxury. For many families across the globe, it has become a necessity. According to eMarketer, global eCommerce sales have grown from $1.4 trillion per annum in 2014 to an expected $6.8 trillion in 2023. With the added impact of social distancing during the height of the pandemic, eCommerce demand surged and, with it, the growing opportunity to create a niche for yourself.
Running a successful eCommerce site can be as little or as much work as you’re willing to put in. Here are a few things you can do to make the journey a little less stressful and much more efficient:
Gain recognition and build a brand identity
What kind of online retailer will you be? Are you using the Amazon merchant platform, becoming a Shopify merchant or creating a standalone site? The way you choose to take your products to market will dictate how you can build a loyal following for your brand, and ultimately how successful you’ll be.
When you choose to sell on Amazon, your products are sold using Amazon branding instead of your own. To stand out as an Amazon merchant, it’s important to focus on being entirely transparent about products with clear product descriptions. Additionally, providing exceptional customer service will earn you good reviews, which speak volumes to customers purchasing on Amazon.
Shopify and Bespoke Websites
Choosing to host your online store through Shopify or on a bespoke website means you don’t have the same clout with customers than if you were selling under a well-known brand like Amazon.
Building a strong marketing plan from the beginning will be a lifesaver with these two types of eCommerce strategies. Do your research and create a recognisable and memorable brand identity, so customers can easily find you and will remember seeing your branding on social media.
Additionally, a clear understanding of your target market is key to long-term success. Know what your customers like, what social media platforms they use and how they prefer to communicate with businesses and act accordingly. Responsive customer service, listening to what customers want and delivering what they ask for and strong communication will earn you loyal followers every time.
Make the best use of your time
Delegation is critical to an eCommerce business strategy. The more effort you put into your eCommerce business, the more your revenue should grow, but this doesn’t mean working hour after hour. Ways you can delegate eCommerce business tasks:
- Use automation for repetitive tasks like social media post scheduling
- Partner with an expert like Armaan Resales to automate business-critical tasks
- Once you’ve achieved adequate profit levels, hire staff to help run your business
- Look into outsourcing tasks such as managing cashflow and accounts, complaints and customer service, etc
Keeping business lean
As a DropShipper, keeping your business lean with low overheads and a smart pricing structure is the key to building a profitable business. Armaan Resales handles the heavy lifting when working with reputable wholesalers, securing you the best price for products. Additionally, as a DropShipper, you don’t need to warehouse your product range, freeing up space in your home and eliminating the cost of renting a space to store your unpurchased products.
This business model grants you even further control over your profit margins. Do your research into competitors within your chosen market and price accordingly. You don’t need to be the lowest price on the market if you have an excellent customer service track record, great reviews and become a brand customers trust.
Starting your eCommerce journey is as simple as getting in touch with the DropShipping experts at Armaan Resales. Contact us today to learn more.