There has never been a better moment to launch your own online store. Online sales increase year over year, according to Digital Commerce 360. The e-commerce train is not slowing down. It will retain its pace as customer shopping patterns continue to transition from brick retail to the internet. However, there are various factors to consider if you want to run a successful e-commerce store.
Selling Method
How do you plan to make money with your e-commerce store? Direct and dropshipping are the two most common selling techniques. You can list and sell things on your e-commerce store using either approach. Direct selling necessitates inventory management and order fulfillment, whereas dropshipping does not.
Dropshipping is a type of alternative selling in which you work with a product provider to sell your products. Customers will still be able to buy products through your e-commerce store, but their orders will be fulfilled by the supplier. When a customer puts an order, the supplier will package and send the things that he or she has ordered.
Dropshipping is more convenient and, in certain situations, less expensive than selling directly. Direct selling, on the other hand, allows you more control over your e-commerce store’s supply chain while also minimizing competition. If this is your first time creating an e-commerce store, dropshipping may be the best option. Direct selling, on the other hand, may be a better alternative if you’re comfortable with inventory management and product fulfillment.
Content Management System (CMS)
For your e-commerce store, you’ll need to pick a content management system (CMS). A CMS is used by nearly all e-commerce stores. A content management system (CMS) is a software package that lets you create and administer dynamic websites, including e-commerce stores, from a computer browser. Instead of downloading and reuploading a page, you can edit it by using a web browser to log into the CMS.
Of course, e-commerce companies require characteristics that aren’t required by other websites. They usually require product categories and a checkout mechanism, for example. If a CMS does not have these characteristics, you should look for one that does.
The following are some of the most popular CMSs for e-commerce stores:
- WordPress with WooCommerce
- Shopify
- BigCommerce
- Magento
- Wix
- Squarespace
- OpenCart
- PrestaShop
Payment Processing
Payment processing is another factor to consider while setting up an e-commerce store. You’ll have to process consumers’ payments after they place an order. Payment processing is required for both direct selling and dropshipping, which is performed by a third-party financial institution known as a payment processor. Money will be relayed from your clients’ bank accounts to your bank account through the payment processor.
There are a plethora of payment processors to choose from. While they all make it easier for your online store’s clients to make payments, some are better than others. Fees vary based on the payment processor, of course. Some payment processors also offer connectivity with popular e-commerce content management systems.
Design
Don’t overlook the value of an appealing design for your e-commerce store. Higher engagement will be achieved if the design is appealing and simple to use. When customers visit your e-commerce store, they will be more active and engaged. They’ll see more products, click more clicks, and add more products to their carts if the design is appealing and simple to use.
Fortunately, if you use the correct CMS, altering the style of your e-commerce business is simple. Themes are available in several CMSs. You can choose a different theme to change the look of your e-commerce store. The theme can then be customized to make it completely different from that of your competitors’ stores.
Marketing
A digital marketing agency should be considered while developing an e-commerce store. To put it another way, how do you want to promote your e-commerce store? The importance of marketing in acquiring customers cannot be overstated. Without marketing, customers will be unaware of the company’s existence, let alone purchase its items. The goal of marketing is to increase brand awareness for your e-commerce store so that more customers visit it.
There are both free and paid marketing strategies available. SEO (search engine optimization) is a cost-free marketing strategy. Without investing any money, you may use SEO to improve your search ranks. Pay-per-click (PPC) advertising, on the other hand, is a form of paid advertising. PPC allows you to produce advertising for networks like Google, Bing, and Facebook while only paying a minimal price per ad click. More people will come and buy from your e-commerce store if you market it.
Security
Finally, when developing an e-commerce store, you should think about security. Operating an e-commerce store, like any other internet business, necessitates data collection. You’ll almost certainly gather information about your customers’ names, email addresses, home addresses, and phone numbers. You must increase the security of your e-commerce store to avoid sensitive information from slipping into the wrong hands.
Your e-commerce store will be safer if you use the encryption-based Hypertext Transfer Protocol Secure (HTTPS). HTTPS is an encrypted version of the Hypertext Transfer Protocol (HTTP). All data transferred to and received by your e-commerce store’s customers will be encrypted if it employs HTTPS.
Choosing a strong password for your e-commerce store’s CMS can boost its security. According to Verizon research, weak passwords are responsible for four out of every five data breaches. A data breach could occur if you choose a short or otherwise weak password for your e-commerce store’s CMS. A hacker may be able to gain access to protected data by logging into your e-commerce store’s CMS.
You can use multi-factor authentication (MFA) in conjunction with a strong password to make your e-commerce more secure. MFA is a login security solution that includes CMS logins. When you enable it, you’ll be asked to enter a one-time PIN that’ll be delivered to your email or mobile device. Even if a hacker has guessed your password, MFA will keep your e-commerce store safe.
Not every e-commerce store succeeds. According to Tech.co, around 80% of e-commerce stores fail, meaning only one out of every five survives. Fortunately, most failures may be avoided by planning ahead of time. Your e-commerce shop will not only survive but prosper if you take the appropriate strategy. Let BaseLynk help you build a strategy today!