How to Start an eCommerce Business: Choosing the Right Platform
Last update: 11 January 2024 at 10:57 am
3.00/5Today, it is easier than ever for entrepreneurs to start their eCommerce businesses and make a living selling products online. The opportunities that the Internet provides are more abundant than ever before. However, getting an eCommerce business up and running is only part of the equation. To ensure success and maximise profits, certain vital elements must be considered.
Starting an eCommerce business has always been challenging in today’s digital age. However, choosing the right platform is one of the most critical decisions you will make as an eCommerce business owner. Knowing which is best for your business can be challenging with the wide variety of available media.
In this article, we’ll explore the keys to a successful e-commerce business, the factors to consider when choosing an eCommerce platform and review some of the most popular platforms available to help you make an informed decision.
|
Discover the most relevant agencies for your project based on your own specific requirements.
Find an agency!The Keys to eCommerce Business Success
Today, it is easier than ever for entrepreneurs to start their eCommerce businesses and make a living whilst they sell online. The opportunities that the Internet provides are more abundant than ever before. However, getting an eCommerce business up and running is only part of the equation. To ensure success and maximise profits, certain key elements must be considered.
Find Your Perfect Niche
The first step in setting up any successful eCommerce business is to identify the perfect niche. That means finding the right combination of products or services, target market, and distribution channels that will all come together to create a profitable enterprise.
A good starting point is to look at what other successful eCommerce businesses have done and then find ways to differentiate your offering and target different market segments.
Know Your Target Audience
Once you’ve identified your niche, the next step is to develop a deep understanding of your target audience. Who are they? What do they want? What motivates them to buy? How can you craft a product or service that appeals to their needs and desires? Knowing your target market inside and out will give you a competitive advantage over rival businesses.
- Gather insights about customers’ behaviour through surveys and focus groups.
- Conduct competitor analyses to see how others are reaching similar audiences.
- Look at the type of content users engage with on social media.
Choose the Right Distribution Channels
When launching your online business, it is essential to take the time to research which distribution channels will be most effective for your purposes. Only some media will work for some, so you must decide which suits your product or service best. Consider cost, delivery speed, coverage area, fulfillment, customer experience, and more.
- Direct website sales
- Marketplaces like Amazon, eBay, and Etsy
- Social media networks like Facebook, Instagram, and Twitter
- Print catalogues and brochures
Offer An Outstanding User Experience
Once you’ve launched your own eCommerce store and chosen the proper distribution channels, the next step is to focus on delivering an outstanding user experience.
This involves everything from the design of your website to the ease of navigation to the quality of customer support. Keep users engaged by creating an enjoyable and intuitive shopping experience.
- Ensure your website is visually appealing and easy to navigate.
- Make sure payment and checkout are fast and secure.
- Provide friendly and helpful customer support.
Another way to deliver a great user experience is to build an ecommerce app. With no-
code tools like AppMySite’s ecommerce app builder, creating shopping apps is much easier. They
ensure you don’t have to spend a fortune on app development.
Analyse and Optimize Your Business Regularly
Finally, it is essential to analyse and optimise your own eCommerce business to ensure success continuously. This includes regularly tracking key performance indicators (KPIs) such as website traffic, conversion rates, average order values, customer lifetime value, and more. By collecting this data, you can better understand where your business is succeeding and where it needs improvement.
- Use analytics tools to track KPIs.
- Conduct regular A/B testing to optimise conversions.
- Utilize search engine optimisation (SEO) to boost website rankings.
If you take the time to plan and execute your e-commerce business properly, you will be well on your way to long-term success. Start by finding the right niche, knowing your audience, choosing the proper distribution channels, offering an outstanding user experience, and regularly analysing and optimising your operations.
If you take the time to plan and execute your eCommerce business properly, you will be well on your way to long-term success.
Factors to Consider When Choosing a Platform
When choosing an eCommerce platform, several factors must be considered, including budget, scalability, customizability, and user-friendliness. Moreover, to succeed, you need to draw a solid eCommerce business plan.
Budget: How much can you afford to spend on a platform?
The cost of an eCommerce platform can vary greatly depending on the features you require. Some platforms are free, while others cost several thousand dollars monthly.
According to a recent survey conducted by Fit Small Business, the average cost of an eCommerce platform ranges from $29 to $299 per month.
However, some platforms charge transaction fees or take a percentage of your sales, which can add up quickly. Determining your budget before selecting a platform ensures you spend your money wisely.
Scalability: How easily can the platform accommodate growth?
As your eCommerce business grows, you will need a platform to meet your demand. Some platforms are better equipped to handle significant traffic and sales volumes than others.
Choosing a platform to scale your business is essential so you don’t outgrow it too quickly. According to Forbes, some of the most scalable platforms include Magento, WooCommerce, and Shopify Plus.
Customizability: How much can you customise the platform to meet your business’s unique needs?
Every eCommerce business has its own unique set of requirements. Some companies may require advanced customisation options to meet their specific needs. Other businesses may be able to get by with a more basic platform.
Choosing a platform that can be customised to your business’s particular needs is essential. According to Forbes, some of the most customisable platforms include WooCommerce, Shopify, and BigCommerce.
User-Friendliness: How easy is the platform for you and your customers?
The ease of use of an eCommerce platform is critical to the success of your business. If the platform is challenging, you may struggle to attract and retain customers. Some platforms are more user-friendly than others.
Popular eCommerce Platforms
Now that we’ve reviewed some of the factors to consider when choosing an eCommerce platform let’s take a closer look at some of the most popular platforms available.
Shopify
Shopify is one of the most popular eCommerce platforms on the market today. It offers many features and integrations that make building and managing an online store easy. According to BuiltWith, Shopify powers over 1.9 million websites, making it the world’s third most popular eCommerce platform.
Shopify offers several monthly pricing tiers, ranging from $29 to $299. It also provides a range of customisable themes and integrations to help you build the online store that best fits your business.
WooCommerce
WooCommerce is a free eCommerce platform that integrates with WordPress. It’s one of the most popular eCommerce platforms available and is used by over 4.4 million websites, according to BuiltWith. WooCommerce is highly customisable, making it an excellent choice for businesses that require advanced customisation options.
Although WooCommerce is free, you must pay for hosting and a domain name, which can add up over time. However, the platform’s flexibility and scalability make it a popular choice among businesses of all sizes.
Magento
Magento is a highly customisable eCommerce platform known for its scalability and flexibility. Some of the world’s largest eCommerce businesses use it, including Nike and Coca-Cola. According to a survey conducted by eCommerceCEO, Magento is one of the most customisable platforms available.
Magento offers two pricing options: Magento Open Source (formerly known as Magento Community Edition) and Adobe Commerce (formerly known as Magento Enterprise Edition).
Magento Open Source is free to use to magento developers, while Adobe Commerce can cost upwards of $22,000 annually. However, the platform’s advanced features and integrations make it a popular choice for large eCommerce businesses.
BigCommerce
BigCommerce is a popular eCommerce platform offering various features and integrations. According to a survey conducted by ECommerce Platforms, BigCommerce is one of the most scalable platforms available.
BigCommerce offers several pricing tiers, ranging from $29.95 to $249.95 monthly. It also provides a range of customisable themes and integrations to help you build the online store that best fits your business.
Squarespace
Squarespace is a website builder that offers eCommerce functionality. It’s known for its beautiful templates and user-friendly interface. According to a survey conducted by eCommerceCEO, Squarespace is one of the most user-friendly platforms available.
Squarespace offers several price tiers, ranging from $18 to $40 monthly. It also provides a range of customisable themes and integrations to help you build the online store that best fits your business.
Conclusion
Starting an eCommerce business can be challenging, but with the right platform, it can also be a lot of fun. Choosing the right niche, knowing your target audience, offering a great user experience, and regularly analyzing and optimizing your business are some of the keys to success.
When selecting an eCommerce platform, consider your budget, scalability, customizability, and user-friendliness. Remember, your customers’ journey should be as smooth as butter, so pick a platform that makes it as easy as pie.
When choosing a platform, it’s essential to research and select a forum that best fits your business’s unique needs. Whether you’re looking for a highly customisable platform like Magento, a user-friendly platform like Squarespace, or a scalable platform like BigCommerce, there’s a platform out there that can help you achieve eCommerce success.
In conclusion, starting an eCommerce business can be a rollercoaster ride, but with the right platform and mindset, you can climb to the top and enjoy the view.
