The numbers say it all: experts have shown that the ecommerce industry is on the rise. The ecommerce industry is one of the fastest growing industries in the world today, and, thanks to the availability of the Internet as well as more globally-oriented products and services and easier global fulfilment processes, the ecommerce sector is set to grow by leaps and bounds. According to studies, the ecommerce industry should earn about $440 billion this year alone, and in 2018, it has been predicted to have sales amounting to as much as $491 billion. So, if you are thinking of becoming an ecommerce entrepreneur, now is the time to jump on the bandwagon. Here’s your ultimate guide to becoming a successful ecommerce entrepreneur.
Focus on your customers
One key strategy would be to offer competitive pricing. This is especially true if you are competing with so many other ecommerce entrepreneurs who are selling the same product, as is the case if you are an Amazon seller. To offer the best pricing for your product, for instance, you need help from tools such as Amazon repricing and revenue intelligence software from Feedvisor.com.
Customers will always be attracted to a product with the best price; this is just one of the golden rules. With the right pricing, you can definitely get ahead of the competition and even attain the coveted Buy Box.
It has also been said that one of the biggest challenges for ecommerce entrepreneurs is that their customers cannot touch, smell, or feel their products before they get to buy them. This is something that can be overcome, however, especially if you make use of some clever strategies. Such strategies include offering free shipping and making sure that the checkout procedure is as easy as can be.
Before you even launch or introduce a product online, you should test it first. This is a given for any product you are thinking of selling. Better yet, don’t just test it yourself – have it tested by other individuals, such as your family and friends, or some of your most loyal customers. Having your customers test the product first (as part of a free trial offer, for instance), can also help boost buzz for your product, especially if the customers write reviews or comments on social media about the product.
Optimize social media
Social media is definitely your best friend. This is particularly true for Facebook, Twitter, and Pinterest. Not only do you have to make sure you have a robust social media presence – you also have to make more meaningful engagements with your customers by conversing with them on social media, giving them free or discounted offers, and the like. Your social media platforms should also be loaded with product reviews and product testimonials so that customers and social media followers can know more about your product.