How To Start An E-Commerce Business

 

E-commerce Business

Maybe you're thinking about starting an e-commerce business, you don't know where to start so today I wanna give you three keys, kinda three lessons that’s so helpful to you.

Number one, when it comes to E-commerce conversion matters a lot. So, you should be constantly measuring your conversion rate on different pages. Your bounce rate, many people hit your homepage. Where are you seeing people exiting from your site? Where are you losing people?

Now, one of the things that we notice when running an E-commerce business that’s losing a big chunk of the customers at the checkout, right? So at the checkout page, we're losing a big, so they like the product, they click the product; they add to cart by the time they get to buy, we lose a whole lot of people. This is not good to overcome on it what should we do?

So, here are the steps that should be taken like add a lot of different things.Example, adding actually testimonials during the checkout process and streamline it and simplifies the checkout process. So, Instead of that many steps make it shorten and then you’ll actually notice sales dramatically it will increase.

 

So, conversion matters. You have to measure everything. You’re looking at data; you're looking at your pages. You have to know exactly what is going on. It is not so much just about the product. It's about your customers, visitors’ behavior, right. And when you have got some products that are selling well, make sure you feature those on your homepage. That’s key number one.

Key number two, you need to have a content strategy as well as a paid strategy. So, there’s running a lot of ads on Google, Pay-Per-Click, and spending a lot of money on it but, in the beginning especially no one knows why they should come to you store, online store. So just doing a lot of that. Spent quite a bit of money optimizing on your website for search engine traffic, just organic traffic and also rank certain key words in Google so people can find you just organically.

So, in the beginning what's interesting is 90-somewhat percent of your sales will coming from paid. Pay-Per-Click, to spending a ton of money. Actually it’s too long to do and it’s also too much costly that have discussed above right.

 

So, to do E-commerce I believe if you have your own store, meaning you're not selling through Amazon 'cause Amazon already has all the traffic. But let's say you're not selling through Amazon, you have your own E-commerce store. I believe you need to have a very good organic strategy as well as a paid strategy. And, last lesson I wanna share with you when it comes to E-commerce is, Inventory kills. What would kill you the most is you have way too much inventory of products that you don't sell?  Depends on what kinda products you sell, do they expire?

Assuming your products don't expire you're gonna sit on a lot of products that don't sell. And, you're sitting in a lot of cash, right? So, you've gotta be very, very careful when it comes to inventory management.

Now, before sold the E-commerce company, get all that money back, otherwise if there's any problem, we would have been sitting on a bunch of dead inventory. So, be very, very careful, very mindful when it comes to inventory.

I would rather you have fewer products in the beginning. Test it out to see what your customer, your marketplace likes, right, whoever your audience is. See what they like first, before you go crazy and have so many skew, have so many units and products.

Oh, I'm gonna buy 1000 of these, 2000 of these because you'll be tempted. Wow you know, if I order way more, my cost per unit goes way down. But, what you don't think about, you don't consider, factor in is, what if it doesn't sell?

 

Now, you're sitting on thousands of something that it doesn't sell. It becomes a big problem, so inventory kills. And, this is also why I stress if you're thinking of earning more money, before you go out there and start an E-commerce business, you should develop your high income skill first. You can go watch and learn high income skills videos too because it's so critical to develop your high income skill first before you go out there and start that scalable business, before you start that E-commerce business.

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So, an E-commerce business is so high in markets now a day but before starting your own E-commerce business you must be able to handle it all because of ups and downs. So go watch the videos from where you feel comfort and learn to start that how and what skills are beneficial for it and after that start your E-commerce business and make money until then if you think this blog is informative to you then comments below and if you have any other ideas related to starting an E-commerce business feel free to share by commenting.