E-commerce became one of the lucrative industries during the pandemic. Given the movement restrictions, plenty of people saw the opportunity of selling online. Many learned the trade of how to earn money in eCommerce where they can generate money from the comfort of their homes.
Are you interested in starting your eCommerce business? Here is a quick guide on how to earn money online by setting up your online store and selling your products to anyone in the world.
1. Decide on your niche
Take time to research the niche you want to take on. According to eCommerceceo.com, below are some of the niches you can try.
- Private Label Natural Skincare products designed for women
- Handmade treats for pet owners
- Baby toiletries for environmental-conscious parents
- Print on demand
- Training programs and gear for beginners
- A beauty subscription box for men
- High-end fashion for rent
- Organic food on demand
- Online courses for students
Make sure that your chosen niche is of interest to you. It would be best if you are willing to try the products and services yourself before selling them out to others. You can start by being your ambassador.
2. Choose an eCommerce platform
There are many eCommerce platforms available today. Below are just some of the best platforms Zapier has listed.
- Shopify
- Square Online
- Ecwid by Lightspeed
- BigCommerce
- WooCommerce
- Wix
Forbes also made their list of eCommerce platforms apart from the ones listed above.
- Squarespace
- Shift4Shop
- Weebly
- Big Cartel
Each of these platforms has its strengths and areas to improve on. Pricing and payment plans also vary. The features you can enjoy also differ. Take time to read each platform and make a competitive analysis. This will help you decide which one suits your best. In general, the platform needs to suit your needs and your budget.
3. Start your website
You can either educate yourself in creating a website by taking up courses. You can also hire a professional to build one for you. The website should be easy to navigate and must be user-friendly.
According to entrepreneur.com, the top website builder for this year are:
- Weebly
- Wix
- GoDaddy
- Shopify
There are other websites you can try as listed by Web Designer Depot.
- Editor X
- Webflow
- Duda
- WordPress
- Carrd
- SquareOnline
- Zyro
4. Product Sourcing
This could be one of the challenging parts of your eCommerce business. Finding a trusted and credible supplier takes time. Decide whether you want to get your materials straight from manufacturers, wholesalers, or drop shippers. Some of the platforms where you can source your products are:
- Oberly
- Printify
- Dropshipper
- Spocket
- Syncee
- Creative /hub
- Printful
5. Set up payment and shipping options
Decide how you want to get paid and how you are going to ship your products. Set up a merchant account on your website to process the payment and the shipping carrier.
6. Start promoting your store
The best way to let your prospective buyers know about your product is to market them. You can advertise your store through social media platforms. Make sure that you also optimize your website for ranking and visibility. You can either get in touch with a professional marketer for SEO and advertising. Or, you can start advertising within your network. Driving traffic to your website is essential to your business. You can try different marketing strategies such as pay-per-click marketing (PPC), and email marketing. This will help to drive traffic to your website and increase sales.
7. Use the right tool
Make yourself adept in using tools that will help you run your eCommerce business. These tools help organize your operational systems and improve customer experience.
- SEO
- CRM
- CRO
8. Check your analytics
Keep an eye on your store’s performance. You have to regularly monitor your store’s orders and sales. Also, address any customer’s query and feedback on time. Customers’ reviews are an important part of marketing your store. Checking your analytics, allows you to come up with informed decisions. This will be helpful as you make adjustments to your store.
9. Continuously Improve
Make the necessary changes depending on the data you are getting. As more data comes in, you can learn and develop new strategies and tactics to improve your eCommerce business. This will help you increase revenue.
Building an eCommerce business and making sure it is profitable can take time. Just like any other business out there, you are taking a risk. You have to be committed, and patient when you are just starting. Your hard work will eventually pay off in the coming months.
What are the advantages of eCommerce?
E-commerce allows you to reach a wider audience. People can buy from your online store from any part of the world. In addition, your buyers can make a purchase any time of the day. E-commerce allows you to sell your products 24/7. Thanks to automation you don’t have to watch over it all the time. The sales, shipping, and management of inventory can be automated.
How to earn money in eCommerce successfully?
E-commerce is a business. Businesses involve risk and for you to be successful in this field, you have to understand your market. Study your audience and why they would make a purchase. Follow these steps to guide you in knowing your target market.
- Conduct market research to help identify profitable niches
- Ask about your potential of their needs and preferences.
- Do online surveys
- Set-up interviews
- Create a well-designed, professional website where users can check your products easily
- Invest in having a strong online presence. These days, social media has become an important marketing tool that you should take advantage of.
To conclude, you can earn money in eCommerce by selling the right products and reaching the right customers. This involves research, the right marketing strategies, and leveraging a strong online presence.
There is no overnight success when it comes to running a business. Be patient and learn as you go. Take the lessons and use them to your advantage. Make changes you think are necessary and keep your focus on success.