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How to Start Your E-commerce Business

App Development
Jan 11, 2020
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How to Start Your E-commerce Business in 2020

E-commerce is an ultimate platform of buying or selling of products online over the internet. It’s popular as electronic commerce or internet commerce for commercial transactions conducted online. With the explosion of technology advancement, we help you create new and innovative e-commerce solutions. Leverage our deep industry knowledge and expertise, we help you build personalized e-commerce solutions that catalyze customer buying decision at a faster speed.

It’s estimated that there will be 1.92 billion global digital buyers in 2020

We make your e-commerce implementation seamless while delivering extensive customer experience and clutter all the complexity. With the increased number of Internet users, the trend of E-commerce website development is increasing rapidly. With the increased competition in the E-commerce market, there is a serious need for a powerful e-commerce solution and business model with the capability to bridge the gap between the physical and digital world.

A Successful E-commerce Business Needs:

A successful e-commerce business needs

  • Innovative e-commerce platform
  • Great Website Design
  • 24/7 Customer Support
  • High-Quality Product Images
  • Unique Selling Proposition

With the changing time, business requirements are changing rapidly and bringing continuous improvement by transferring digital skills along with unique ideas. Relying on derivatives does no good for business, hence, one must act on the opportunity while making data do more. Redefine your business possibilities with BR Softech and allow people to shop more and more.

The number one reason people shop online is that they’re able to shop at all hours of the day.

The competition in the market is high, It is essential to add some uniqueness and functional features in your e-commerce platform for business purpose. To meet the customer’s expectation and find what is necessary is a must for a business to grow seamlessly. The concept of online shopping was first introduced in 1979 in the United Kingdon and since then it has marked its presence in the industry and helping people to grow their business.

Let’s find out more about the best e-commerce platform for small business and startups. Read our detailed blog:

Best E-Commerce Platforms for Small Businesses in India

To start an e-commerce business, there are certain things which one must consider, which is essential for the business-like.

Understand the Basic of E-commerce Business

  • Select a Niche
  • Select the Product Range
  • Establish Your Brand
  • Create Your Online Store
  • Market Your product

Steps to Start E-commerce Business

Find E-commerce Product

Find E-commerce Product

Establish a successful e-commerce business by choosing the right product in this competitive world. Finding a niche may be a daunting task, but for your business, it’s a must. Strategies the complete process, do in-depth research to identify a set of products or a niche that is in trend or will be booming shortly. Study customer behavior for better results and understand market demand. Better research will help you identify the niche and allows you to find the right products for your business. It will also support you to strategies your marketing strategy by considering a few things like:

a. Decent Sales Volume: – Sales volume is the number of units sold within a reporting time. It can be observed using sales volume, subsidiary, product line or sales region. Keep a track on your estimated monthly sales volume and it will help you analyze the product that will sell well.

b. Low Seasonality: – For better sales volume and one must consider seasonability of the product. Some of the products can be purchased all around the year, while some products are only purchased by customer seasonally. Therefore, to earn greater revenue, avoid products that only sell during specific season and holidays.

c. Trending: – Once you have the product in mind, you need to make sure that the product stands out in the market. You must be sure of your potential market size, your competitors and most importantly about your target customer.

d. Cost-efficient with high value: – Make a well-versed decision while selecting the product. With the changing time, people look for a cost-efficient yet a value-added thing, hence, one must invest in a low product cost product with a higher value. This will enhance the product value and will help you generate greater revenue.

Analyze Search Terms

Starting an online business is a daunting task. One must consider analyzing the overall product search first to get accurate sell predictions. If you are willing to pick a product and sell online, then you must analyze Google search. It helps in increasing the sale of the product while keeping it in trends.

Another great way of increasing your product sell is considering Google AdWords. It helps you advertise your product and generate great revenue or else one can also create a free account and input keywords to know how much volume these various other keywords receive. If the keyword you use for your product and do not get much traffic, it means the keyword you are using is not apt for the product and you must use the one which helps you convert a potential customer into a real customer.

Ask People

Get customer insight to follow the futuristic approach. It helps in making your potential customer a long run customer. Not just that, asking the customer questions about your product and their value will only provide you with a healthy dose of curiosity and actual insight of the product.

By putting your customer first, you allow your business to grow with constant improvement. The complete process of surveying existing customers and random people will help you get a genuine feel of your product and what type of people want to get more of it. Does it help in targeting the right audience while figuring out what to do next? You must be wondering how you can get the customer insight?

Let us help you with that.

  • Identify people who are interested in your product.
  • Work hard on marketing.
  • Ask your customer to reach out to their network about your product.
  • Get creative while connecting with customers.
  • Mark your social media presence.

By following these things you can make the customer base for your product before even launching the product. Talking to people will allow you to analyze your idea about whether it’s fruitful or not from a business point of view.

Register Your Business & E-commerce License

Register Your Business & E-commerce License

Convert your idea into reality by registering your business. It may sound easy, but it is the most crucial stage. One must follow certain steps to register the business which we will be discussing in detail here. To register the business it is best to prepare the business model first and then start an eCommerce business as a private limited company. It offers:

  • Limited Liability Protection
  • Transferability
  • Ability to have an equity partner
  • Ability to have private equity investors
  • Separate legal entity

In spite of the capital investment in a private limited company, the company be registered with an authorized capital of Rs. 1 lakh and then increase investment in the form of private equity. If you are not familiar with the process, there are many resources to get you started with the complete process.

Open a Bank Account

Once you have registered the company, the second most important thing is opening a bank account. It plays a vital role in the company. If you are planning to start a private limited company then opening an account is easy. All you have to do is collect all the required documents and open the account in the desired bank.

List of Documents Needed to Open the Bank Account:

  • Passport size photograph
  • Copies of Pan card
  • Memorandum of Association
  • Certificate of Incorporation of the company
  • Articles of Association
  • Utility bills such as electricity, water or telephone

Collect all these required documents and you are all set to open the bank account for your business.

Perfect Website Designing & Platform:

After registering and going through the whole process, one must consider the website design and platform. Both of these things play a crucial role in the success of your business. One must select a unique design and come up with something amazing that can instantly grab the audience attention.

Things to Consider Before Choosing The Platform

  • Must offer a flexible engagement model
  • Based on result-driven strategies
  • Strong technology competency
  • 24*7 support
  • Seamless communication
  • Must have SEO & Marketing tools
  • Multi-currency payment processing scalability
  • No bandwidth restriction
  • Extensions & plugins
  • Multi-address Shipping

Sometimes we end up selecting the platform which is popular instead of the one we need the most for seamless management, therefore, we have narrowed down the list of a few things which will help you select the platform you need the most for a successful endeavor.

For more details you can read our detailed blog:

Which is the Best E-Commerce Platform for Your Online Store?

This blog will help you decide the platform that is best for your business while providing you information about the different platforms like:

1. Opencart Development
2. OSCommerce Development
3. Woocommerce Development
4. Spree Commerce Development
5. Jigoshop eCommerce Development
6. Magento Development
7. PrestaShop Development
8. X-Cart Development
9. Shopify Development
10. Solidus Development

We have a team of expert developers to develop an e-commerce platform based website with the help of the above framework or development services.

Integrate Payment Gateways

Integrate payment gateway for seamless customer experience. With the massive growth of online shopping, it has become the necessity for e-commerce platforms. It makes the processing of credit, debit card, net banking, and card transitions easy. To integrate payment gateway in e-commerce website one must submit all the required documents to payment gateway providers.

List of Required Documented to Integrate Payment Gateway

  • Business Pan Card
  • A bank account under the business name
  • Certificate of Incorporation
  • Articles of association
  • Memorandum of association
  • Identity Proof
  • Address Proof
  • Website terms and condition
  • Website privacy policy

As more people are now engaged in online shopping, it becomes essential that online websites provide customers with an easy and convenient checkout process. Research has suggested that 86 percent of customers do online shopping using credit or debit cards and over 60 percent of customers consider preferred an online mode of payment while doing online shopping.

Brand Your Brand: Digital Marketing

e-commerce website in 2020

For any business to grow digital marketing and social media promotion are important in today’s era. Make your website or application engaging to attract the targeted audience. Do not forget about requiring promotion on multiple platforms and increase brand visibility. Once your website or application reaches the target audience you will be able to accomplish your business goals.

Use Social Media Platforms

Increase your customer base by building a social media account for your brand. It helps customers to recognize your brand and build trust in buying your products. To provide customers with more reliable service one must create their brand available on all the social media platforms like:

  • Facebook
  • Instagram
  • Twitter

Digital marketing majorly depends on the quality of your content, hence, pay extra attention to the content you use to attract your customer towards your brand.

Talk to your Potential Customers

Communication is the key to any business. Better customer engagement and good communication will make your brand more visible and will improve customer engagement. There is plenty of scopes to keep your customers interested and engaging by providing with a modern e-commerce website. Reshape your business by following the recent trends and grow across the globe.

Multiple shopping platforms are liked by all the people majorly because of the convenience and clarity they provide with. Therefore, one must provide the customer with utmost transparency. The secret of clear communication is to act quickly to express your empathy, explain customer everything they must know and add a personal touch in all you do.

Final Thought

E-commerce is a booming industry. For the past, a few years it’s growing rapidly. The technology advancement taking it to another level and bringing all the entrepreneurs together at one place. It has transformed the way business is done in India. It has marked its presence all over the world. People are taking their business online and marketing their presence in the field to provide the customer with greater experience. It’s a great platform for all the small business providing great opportunities to newcomers.

Empower the e-commerce business in 2020 or share your business ideas with us to create it into reality. With the team of experts, we help you develop the outstanding e-commerce platform, keeping all the recent trends and technologies in mind.

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Nidhi Sharma

Holding years of rich experience in Content Writing on different niches and exploring ways to learn more. Majorly talks about Traveling, Games, Software, Mobile App Development Lifestyle and attempts to spread knowledge about the latest trends and technologies.

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