Developing Your E-Commerce Business
So, you want to launch a new e-commerce website? Or move an existing business online? There are a few fundamental steps that you can follow to set your business up for e-commerce success.
Why you’re onto a good idea
E-commerce sales are increasing exponentially worldwide. E-commerce sales accounted for 14% of all retail sales worldwide last year and that number is expected to continue to rise, despite the present economic uncertainty hampering most global markets.
With an e-commerce website, your business will be able to sell and deliver products to customers almost anywhere in the world, offering your business unparalleled opportunity for growth and increased revenue streams.
Some fundamental steps to keep in mind
1. Forward Planning
Executing a successful e-commerce strategy needs mindful co-ordination. Begin by determining your business’s key objectives. Create a timeline adhering to those objectives and then develop a financial plan to keep you on time and on budget. This initial plan will provide you with a tool from which you can track your business’s progress.
Is there a demand for your product? If so, who is the customer? It is vital that you understand the demand for your product before you put all of your effort into launching your e-commerce website. Research will tell you if you’re on the right track, where you need to refine your product or where you need to adjust your current strategy.
Research will also provide you with insight into your competition. If there is no competition, it might mean there is no demand? And if there is competition, you will know that you need to focus on developing a unique and original way to position your business to customers. Understanding your competition and their business models will help you to develop yours in a way that will ensure that your site is financially viable long-term.
3. Designing Your Website
Your website needs to be your business’s ultimate sales tool. It needs to be a machine that converts sales, repeatedly and efficiently. It should adhere to modern standards, be mobile friendly and above all; an enjoyable experience for your customers. Take time to carefully consider how you can create a unique and satisfying e-commerce experience for someone you hope to make a repeat customer.
It is important that you take the time to develop an e-commerce strategy to set your website up for long term success.
At Lucid, we aim to design e-commerce platforms that are optimised to turn first time visitors into repeat customers. To see how we could assist you in creating your e-commerce platforms, book a discovery call today.