5 Things You Need to Run a Successful Ecommerce Business
By Sara Khokhar | December 27, 2020
Since the start of COVID-19, online business operations have increased with the promise of safety, convenience, and accessibility. For this reason, most aspiring entrepreneurs have started to think that selling online is hassle-free. But it’s not always the case. Like any other venture, poor planning and decision-making can become major hurdles in success. If you want to run an e-commerce business smoothly, here are five things you need to consider.
1. Solid Legal Foundation
Before you can begin operating, your online business needs a good legal foundation. This means registering as an official business and taking care of the vital aspects like choosing your business structure and picking your location. It is mandatory to do your research on what’s best for your e-commerce business as the details of your registration can shape much of what your business will look like.
For instance, if you set up your business in the state of Nevada or Oregon then you can be exempt from sales tax whenever you make a sale online — which can save you thousands of dollars down the line.
Meanwhile, setting up an LLC in Delaware means you won’t have to pay state income tax and you can run your e-commerce business from anywhere in the country without having a Delaware address. What you decide will also affect the way you operate and the requirements you’ll have to comply with, so devote time to planning this step.
2. Brand Identity
For any online venture to be successful, it has to build an outstanding reputation. But with the amount of content found online from users and businesses alike, it’s easy to get lost in the mix.
Medium mentions that a strong brand identity lets you build your company image online and subsequently become more visible among your chosen audience. Make sure to figure out the details like your unique selling point, your target audience, your key messaging, and even your visual identity.
3. Target Market Knowledge
The online space has allowed businesses to reach more people than ever before. But as you may want to try and sell your product or service to everyone, defining who are your target customers will be more beneficial to your business than creating generic content to appeal to everyone.
Chron states that choosing your target customers allows you to focus on selling to people who are most likely to buy your product. To better understand your customers, identify the demographics they belong to as well as their psychographics and buying behaviors. This will be the foundation on which you will base all your online communication decisions.
4. Online visibility
Once you have a clearer understanding of your target customers, you can now focus on building a strong presence online. If you started your online business with your website, try becoming active on social media as this provides you with a large number of customers you can target. You can grow your presence organically on social media platforms by creating engaging posts to attract your target customers. If you need a little help in reaching certain audiences, platforms like Facebook and Instagram allow advertisement placements and tools for boosting your posts. Features like carousel ads, click ads, and inquiry buttons can be used to send your messages to your target customers.
5. Customer Experience Care
Just like a physical store, there is nothing that can stop your customers from leaving at any point if they are unsatisfied with the shopping experience. Some concrete steps you can take to avoid unpleasant experience includes making sure there’s someone handling customer inquiries and addressing the concerns. Make it a point as well to create a user-friendly interface for your platform that’s easy to use and understand as more friction in the experience may lead to your customers losing interest in continuing the purchasing process.
Advancement in technology in the past decade has changed the way we spend our daily lives including how we operate the business. Ecommerce has provided entrepreneurs with the tools and resources to commence offering products online. However, this has also increased the number of people vying for consumers’ attention. Ultimately, you are still responsible for taking the necessary steps to boost your brand visibility in order to make your online business successful.
Let’s discuss how to keep customers engaged with SocialBu!
To run a successful e-commerce business, we have stated the requisites. You have reached your potential customers so, now the point is how will you keep them engaged in your business?
Social media platforms can assist in keeping the customers interested and it sells more. A new business certainly requires a lot of struggle to be commenced and managed than an old established one. It would be of great importance that you use social media platforms to reach potential customers, keeping them updated and interested as well.
On the other hand, it's obvious that one cannot invest so much time in managing and maintaining social media presence when they have a lot of other tasks on the priority list. To keep everything balanced, social media management and automation tool are mandatory to utilize for productivity. It can be a useful asset to manage and grow the e-commerce business. SocialBu is an excellent social media management and automation tool for online business.
Scheduling Posts keeps Audience Engaged:
For any e-commerce business, social media presence is just as necessary as keeping the store stocked with products. Both factors determine customer satisfaction, but as we have already discussed that time management holds the same importance, so scheduling the posts should never be ignored.
Take one day from your monotonous routine and create all the posts for the upcoming week then schedule them on different suitable times and days. This can keep you away from a lot of fuss and precious time is also saved. Sharing continuous posts on social media channels keeps the audience engaged and they get to see something new related to business which keeps the image alive in their minds.
Intelligent Replies to Tell Worth of Customers:
It is a common issue that customers can have some questions regarding your products. Most of the time, the questions are usually common. Answering each one manually can be irritating and time-consuming. And if you do not answer then the customers can feel neglected and this can be a big failure for the business. With the intelligent replies feature, you can send automated replies to common queries easily.
Automated Updates Keep The Customers Informed:
It becomes hassle-free to operate an e-commerce business when you can manage the social media platforms without even logging in manually and multiple accounts from a single place. It means that you can set up the automation for the updates or announcements regarding your e-commerce business.
Setting up an RSS feed and putting it on automation can save you much time and effort. It can save a lot of time in a way that whenever you will add anything on your business website, SocialBu will automatically post it on all your business social media channels.
Review Response to Make Customers Feel Valued:
Responding to customer reviews makes them feel valued. It is as important as responding to questions. Just like intelligent replies, you can handle social media reviews automatically. If the review has certain keywords, an automated reply will be sent to the consumer. To ensure the growth of the e-commerce business, customer satisfaction is a primary factor.
Making customer experience exceptional is essential to make a business successful. All the factors mentioned above ensure the liability of a business. Following them, a business can build a repute of a trustworthy organization that understands and follows the moral rules of a dealer and consumer relationship.
Every aspect from building to establishing and then the maintenance of an e-commerce store, we have discussed the basic factors. If you intend to handle the business by fulfilling all its protocols and respecting its requisites, then there is no doubt of success. If your business is taking time to grow, never forget that slow and steady wins the race!