Is E-Commerce For Your Business – What You Need to Know to Get Started
When it comes to building your website, its design, user experience and features are key priorities. They will set the table for how your customers interact with you, what their actions will be, and if they are ultimately interested in your products or services.
Since Covid-19 hit, selling online has been a key topic and transition for many businesses. There are many ways to sell online (your own website, social media channels, 3rd party platforms, etc). The discussions around selling online typically state, “You must sell online,” or “Your business will fail if you don’t sell online.”
Are these statements true? Is selling online a necessity for your business?
That is not for us to determine. What we are here for is to help you understand some of the key considerations when it comes to selling online through your own website.
Is E-Commerce For You: Key Considerations for Selling Through Your Website:
- Taking Payments – Determining how your business bank account will take payment through a secure credit card provider is paramount to selling online. You will want to utilize one of the many merchants available SEE LIST HERE and make sure that your accountant is aware of how these transactions are handled. Make sure you know the fees associated with your provider.
- Are Your Products or Services Ready for Your Store? – Many businesses believe they can flip a switch and sell online. Preparing your products is a crucial step that you must be prepared for. Knowing which products to sell, the variations of each product, the prices, inventory counts, shipping weights, product dimensions, and box sizes all have to be taken into account. All of these items have to be made available on the product pages of your online store. Missing information will cause the customer to back away and risks causing payment and shipping issues. Make sure you have all of the information required for each product.
- How Will You Market Your Store? – Putting a store online is just one part of the equation. With so many ways to purchase online, how are people going to know about your store and products? Making sure you put aside a realistic budget to market and advertise your products & offers. This can be done through Google Ads, Facebook Ads, Instagram Ads, Search Engine Optimization (SEO), Email Marketing, Social Media Marketing, Video Marketing and many other options. Your store will not be visible on its own. Make sure you understand the options available and potential avenues for marketing your store.
- Are You Prepared to Ship Your Products? – Selling the product is just a step in the process. Now you have to get the products out the door. Who you are shipping with, how fast they move and how cost-effective their price is will make or break your store. Customers will demand fast delivery at a reasonable price. Make sure you have a web services account set up with a preferred shipping vendor so that you deliver what your customers expect. It is also important to understand who is going to pack your items and how they are packed.
- Is This Profitable For the Way Your Business is Currently Structured? – Is your business set up for selling online while still maintaining profitable margins? You may have to adjust your pricing strategy to accommodate the new labour demands of packing, scheduling and executing the shipping of your products. And once you have estimated the marketing costs, you can determine if an online store is worth the time and effort to operate.
Summary on Starting Up an E-commerce Store
Is E-Commerce a major commitment? It is important to know and understand how running an online store will impact your business and the key factors for achieving success.
When done well, selling online can be very lucrative for your business. If you are interested in discussing the possibilities for setting up an online store for your business, please connect with us. We would love to chat and uncover the many possibilities that your business has to present to the digital world!
Is E-Commerce right for your business? CM2 Media is a Burlington digital marketing agency specializing in the following services to help your needs:
- Social Media Marketing
- Video Marketing
- Website Design
- Web Application Development
- Facebook Marketing
- Instagram Marketing
- Search Engine Optimization (SEO)
- Social Media Advertising
- Branding and Brand Strategy
Follow us on Instagram or LinkedIn. We look forward to hearing from you about how is E-Commerce a fit for your business. We are located in Burlington, Ontario.