Are you tired of your 9-to-5 job and dreaming of starting your own business? Look no further than ecommerce! With the potential to generate passive income, ecommerce is the perfect opportunity for those looking to break out on their own. Wondering where do you start? Don’t worry, we’ve got you covered with these essential tips on how to make money with ecommerce. But first, let’s get some actual business owners’ feedback!
How to make money with ecommerce: entrepreneurs’ insights
Here they are!
Fernando, Houston, Texas
A passionate sound enthusiast, Fernando is an audio engineer and musician with no formal ecommerce training. Yet, he runs quite a successful online store, as you can see:
Within the first 3-4 days, I got the first sale for $69.99
But what let him do that so quickly and almost effortlessly?
I walked into ecommerce with a home decor and useful gadgets store. Through this store, I became familiar with the Sellvia which seemed to be the best option among the ones I researched. So far, it’s perfect for my business. Managing the store takes a few minutes every day!
As Fernando explains, he was looking for a business opportunity that would let him dedicate more time to music. It seems like this Sellvia store ticks all the boxes!
Gar Lee, Seattle, Washington
Ever since he graduated, Gar Lee knew he wanted to become a business owner. That’s the entrepreneurial spirit that made it all happen!
I got interested in the Sellvia offering because of the faster shipping, and here I am, giving it a shot, seeing how it’s going to work out and whether in can make money online. With Sellvia, a customer can get their order within a few days, and that’s very good for the business.
And judging by the store performance stats, things are doing quite well:
But still, perfection knows no limits:
I’m going to rethink this store, upgrade the product offering, and basically build a unique brand around it.
That, Gar Lee says, is what he wishes he did earlier – so, what other bits of advice can we get from his and Fernando’s story?
Let’s combine first-hand insights with some general online business advice and see how to make money with ecommerce even if you are a complete newcomer!
How to make money with ecommerce: tips and tactics
#1 Set you mind on a specific item or a broader product niche
Choosing a product or niche is the first step in creating a successful ecommerce business. You want to make sure you’re selling a product that people actually want to buy, and to discover high-potential product categories and niches that you can excel in.
One of the best ways to identify profitable product categories and niches is to conduct market research. Look for products that have a high demand but low supply, as these products often have less competition and higher profit margins. You can also use online marketplaces such as Amazon or Etsy to identify trending products or search for gaps in the market that you can fill with your own unique product.
Another important consideration when choosing a product or niche is your target audience. You want to choose a product that appeals to a specific demographic, as this can help you create more targeted marketing strategies and build a loyal customer base. Consider factors such as age, gender, income level, and interests when choosing a product or niche.
In addition, it’s important to consider the potential for scalability when choosing a product or niche. You want to choose a product or niche that has room for growth and can be expanded upon over time. This can help you continue to generate income and build a successful ecommerce business in the long term. Your store should be visually appealing and easy to navigate, with high-quality product images and clear product descriptions.
#2 Set up the store
Once you’ve chosen your product, it’s time to set up your online store. Think of your online store as your virtual storefront, so it’s important to make a good first impression. Choose an ecommerce platform that fits your needs and design an attractive store with optimized functionality to keep customers coming back.
Your store should be visually appealing and easy to navigate, with high-quality product images and clear product descriptions. In turn, optimizing store functionality can improve the customer experience and increase sales. This includes features such as a fast and easy checkout process, easy navigation, and clear calls to action. Make sure your store is mobile-friendly, as an increasing number of customers are shopping on their mobile devices.
#3 Fill in the store pages
Creating high-quality product listings is a crucial part of running a successful ecommerce business. The product listing is often the first point of contact that potential customers have with your product, so it’s important to create a listing that effectively communicates the benefits of your product and makes it stand out from the competition.
One important aspect of creating a high-quality product listing is writing engaging product descriptions. Your product description should provide all of the details potential customers need to make an informed purchasing decision, such as the features of the product, the materials used to make it, and any unique benefits. Use persuasive language to make the benefits of the product clear and use bullet points to make the information easier to read.
Another important aspect is using high-quality product images. These should be clear, well-lit, and show the product from multiple angles. You may also want to consider using lifestyle images that show the product in use, as this can help customers visualize the product in their own lives.
#4 Start advertising
Marketing and promotion are crucial for the success of an ecommerce store. With so many online stores competing for the attention of potential customers, an effective promo campaign can help your store stand out and attract more traffic and sales.
One of the best ways to market an online store is through social media. Social media platforms such as Facebook, Instagram, and Twitter can help you reach a wider audience and build brand awareness. You can post engaging content, interact with followers, and run social media ads to promote your products and drive traffic to your store.
Email marketing is another effective way to promote an online store. By collecting email addresses from customers, you can send targeted and personalized emails that promote your products and offer exclusive discounts and promotions. Use email marketing software to automate campaigns and track their success.
Paid advertising, such as Google Ads or Facebook Ads, can also be an effective way to promote an online store. By setting a budget and targeting your ads to a specific audience, you can reach potential customers who are more likely to be interested in your products.
Content marketing can also help you drive traffic and sales to your store. By creating high-quality content such as blog posts, videos, or infographics that are relevant to your products, you can attract potential customers and establish your store as an industry expert.
To make your marketing efforts more effective, it’s important to understand your target audience and tailor your marketing messages to their specific needs and interests. You should also track and analyze your marketing campaigns to measure their success and make improvements over time.
#5 Work on customer care
Providing excellent customer service is crucial to build customer loyalty and make money with ecommerce. When customers have a positive experience with a business, they are more likely to become repeat customers and recommend the business to others.
Responding to customer inquiries promptly is one of the most important aspects of providing excellent customer service. Customers expect a fast response when they have a question or concern about a product. Make sure to provide clear and accurate answers to their questions, and address any concerns or issues they may have.
Offering easy returns and exchanges is another important aspect of providing excellent customer service. Customers should feel confident that they can return a product if it doesn’t meet their expectations or if it arrives damaged. Make sure to have clear return and exchange policies, and make the process as easy as possible for the customer.
Asking for feedback from customers is also important for improving customer satisfaction. Feedback can help you identify areas where you can improve your product or service and better meet the needs of your customers. Encourage customers to leave reviews and provide feedback by sending follow-up emails or surveys.
#6 Grow your venture
Scaling and expanding your online store is important if you want to make money with ecommerce in a long term. As your business grows, you will need to develop new strategies to keep up with demand and stay competitive in the marketplace.
Introducing new products is a common way to scale and expand an ecommerce business. Analyze your sales data to identify products that are performing well and consider introducing new products that are complementary to your existing offerings. You may also want to consider developing new product lines or partnering with other businesses to offer new products.
Expanding to new marketplaces and sales channels can also help scale and expand an ecommerce business. Consider selling your products on other online marketplaces such as Amazon or Etsy. You may also want to consider expanding into international markets, if possible. Additionally, consider using new sales channels such as social media or influencer marketing to reach new audiences.
So, how do you make money with ecommerce? You get a ready-to-go online store to save time on technicalities, and invest your time and energy into things that really matter. Talk to your followers, collaborate with influencers, try out new promo tools and spread the word about your fantastic venture — all the rest can be taken care of safely.