Be An Ecommerce Tycoon

© Illa Maden   February 2007

Setting up an ecommerce site has many advantages for the marketer

An ecommerce store where tangible, physical products are sold can have a considerably smaller overhead than the same retail store in a brick and mortar application.

1. No need for leasing or buying a building and all the other related and costly expenses such as utilities, insurance and fixtures for display. An ecommerce store on the web will have expenses, but they can be minimal if you are just getting started.

2. No need for employees, as much of what employees would do can be handled with software, or once business picks up some aspects of your ecommerce business can be outsourced.

3. If merchandise is provided by a dropshipper, you avoid paying for products before they've been sold, and you can delete products that lose popularity, or add new items without getting stuck with merchandise that has to be sold at- or just above cost to move it.

4. Since setting up an ecommerce store on the internet is pennies on the dollar compared to that of a brick and mortar store, you will be in profit far sooner.

Developing a successful ecommerce store does require some thought

Research your market thoroughly first, this is true of all businesses on the internet. Research is where you start. Be sure there is a market for the physical products you plan to sell, and that the competition is at a reasonable level.

Research potential dropship suppliers for your eCommerce store. Look for quality products, good service, and a price point that will leave you enough of a profit margin to be successful.

Plan your ecommerce site for easy navigation with your customers in mind. Make the shopping and buying process pleasant and simple.

Provide a payment process that allows for several different ways to pay. Assure your customers that their information will be handled discreetly and safely.

Display contact information prominently. Who wants to purchase from some unknown entity that is hiding?

If you can, provide an 800 number. When you reach a certain degree of success, outsourcing to a service that provides live customer service will give your ecommerce business a more credible presence and very likely boost your sales considerably.

Offer shipping information in an easy to find manner. If your price margin will allow, offer free shipping. If not, offer free shipping from your ecommerce site as an incentive for a dollar minimum purchase, or as a time limited special to bump up your sales.

Consider the needs and questions your ecommerce site visitors might have. Try to look at things from their angle and provide a FAQ page that will answer their questions. Invite questions and inquiries from your visitors. This will be a little extra work, but it will give you a lot of insight about your specific ecommerce market and will pay off in the long run as you find new profitable ways to meet their needs and wants. 

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