Ecommerce Business: All You Need To Know About It!!
In this situation, experts anticipate the global e-commerce industry is about to boom, as more and more people will prefer the convenience of eCommerce that lets them shop from the comfort of their couch, rather than put themselves at risk of coronavirus infection.
Apart from the COVID-19 situation, in the last decade, the e-commerce sector is expanding in revenue numbers, and this trend is expected for several more years. So, planning to launch your eCommerce startup, here are a few reasons why you have made the right decision:-
- Your Shop Will Open 24*7, Even When You Sleep.
- You'll Be Able to Reach a Broader Audience Base.
- Boost Sales and Revenue Numbers.
- Explore New Horizon of Opportunities.
- It is Much Cheaper to Build an Ecommerce Store, Rather Than a Physical Outlet.
Vital things that you should know before starting your own Ecommerce Business
Let's Know the Three Popular ECommerce Business Website Types:
Transactional Site: It is merely the online presence of a physical store, which generally includes grocery mart, electronics, etc. It's like an exclusive showroom for the retailer or the manufacturer.
Static Content Site: The motive of a static content site is to improve brand awareness rather than encourage people to make online transactions. You can say such a website is like a brochure that provides all the information related to your products/services, based on that your prospective audience will make a buying decision. There are no overhead costs associated with running a static content site.
Online Marketplace site: Last, but the most popular type of eCommerce website is the online marketplace; one easy example is Amazon. Like this, there are thousands of online marketplace, which bridge retailers, manufacturers, and drop shippers to a broad audience base.
How Much Does It Cost to Start an Ecommerce Business?
We know an idea is not enough to be successful in the world of eCommerce business; you need to invest initially to get your eCommerce business off the ground. Here are the bare minimum necessities for launching your eCommerce store: -
Domain Name
It is the name of your eCommerce store or marketplace, just like the website name. The cost of a domain name is typically between $0.99-$15/year.
Hosting
It is the fee you pay monthly or annually for hosting your eCommerce store on a server. $3.50-$250/Month is the typical monthly cost for hosting a website. There are broadly two types of hosting plans, one is shared, while the other is private hosting.
Shared hosting is an affordable option, but you'll be sharing resources with other sites. So, if your business expands beyond 100,000 visitors per month., you'll face difficulties.
The other option is private hosting. Although it is costlier, you get dedicated resources and much reliable than the shared hosting.
Inventory
You can start your eCommerce business store without having something to sell. Therefore, you're required to invest in inventory for managing the product in and outflow.
Payment Processing
If you allow online transactions, then you've to integrate multiple payment getaways. These payment gateways have an initial fee and charge 2 to 3% per transaction.
Hire a Coder & Designer
Finally, you need to entrust a competent coder and designers to build your online store. Don't worry Red Talkers got you covered with a proven track record of building successful online stores.
How Can I Start an Ecommerce Business?
Step 1: Research The Different Ecommerce Business Models
The transaction, Static or Online Marketplace?
Step 2: Start Ecommerce Niche Research
What Category do You Want to Target?
Step 3: Validate Target Market and Product Ideas
Who Are Your Ideal Customers? What Products to Sell
Step 4: Register Your Ecommerce Business & Brand Name
- Select a Store Name
- Register Your Ecommerce Business
- Get Your Business Licenses
- Get Your Employer Identification Number
- Pick the Right Vendors
Step 5: Finalize Your Ecommerce Business Plan
Without a Plan, No Business Succeed.
Step 6: Create Your Online Store
Build Your Commerce Store
Step 7: Attract Customers To Your Ecommerce Website
You Need an SEO and PPC Plan.
Conclusion
In the end, if you are considering taking a plunge into the ocean of opportunities offered by the e-commerce industry, you must have RedTalkersHosting.com as your partner. How? We can build your bespoke online store; we write engaging product descriptions, we can do SEO, run paid advertising campaigns, and make sure the leads you get are converting with our effective landing page marketing strategy. In a nutshell, we have a panel of qualified and extremely talented coders, designers, marketers, and writers to script your business's success story.