courtesy MUNBYN
If you’ve decided to start an eCommerce business but aren’t sure how or where to begin your journey, this post has you covered! We’ll cover everything you need to know to successfully sell products online.
Every business, no matter its size, sells something. Bloggers sell advertising space on their websites. Freelancers sell services for writing, graphic design or editing, and pet owners sell pet care services. However, when you’re selling physical products online, there are several things you need to consider, so starting an ecommerce store.
Whether you’re an artisan, lip gloss maker, t-shirt designer, or reseller, this guide will walk you through the steps you need to take to successfully sell products online and make a profit from home.
Write a business plan
Every small business owner should start their journey by writing a business plan. It does not have to be a formal document; Think of it as a brain dump or outline of the steps you need to take to launch your business
Here are some aspects to consider adding to your business plan:
- What products are you going to sell?
- Who is your target market?
- How you will market your business
- How are you going to accept online payments?
- Price and profit margin
- How do you handle customer service and returns?
- What system do you use for inventory and shipping?
- How do you handle accounting and taxes?
You can download a free business plan template online or create your own document that covers every aspect of your business. Once you have written everything down on paper, you can start taking effective steps to set up your business.
Legal and financial considerations
Many entrepreneurs start out as sole proprietors, meaning they don’t formally structure their business (an LLC, partnership, corporation, or S-corp) with the government. Before you decide which framework to use, you need to understand the pros and cons of each format.
For example, you can get up and running quickly as a sole proprietor, but you don’t have the legal protection that a formal entity provides. With a formal entity, you have more protection, but you must follow strict guidelines and procedures such as obtaining an EIN, setting up a business bank account, and keeping your business and personal accounts separate.
It is highly recommended to speak with a legal or accounting professional to determine which structure is right for your situation.
It’s also time to think about your company name, as you’ll want to register the appropriate documentation, such as a DBA, trademarks, business licenses, and permits required in your state. Be sure to research the name you want to use, as you don’t want to infringe on someone else’s trademark.
Choose which platform or marketplace you will use to sell products
One of the most important decisions you will make as an online seller is deciding which online selling platform to use. There are many options, such as selling on online marketplaces like Etsy, setting up your own online store using Shopify, or reselling items on sites like Craigslist, Poshmark, or Facebook Marketplace. Or you can add an online store to your WordPress blog using a plugin like WooCommerce.
There are many factors to consider when choosing which platform to use, such as listing fees, transaction fees, ease of use, payment options (credit card, PayPal, Apple Pay, etc.), and niche market. For example, on Etsy, you can only sell handmade goods, vintage items, and craft supplies.
You’ll also want to explore whether you can handle inventory management through the platform you’re using. Many platforms like Shopify, eBay and Etsy have built-in software to help you manage your inventory. If the platform you’re using doesn’t have this option, be sure to develop a system to track inventory and supply costs. Most online bookkeeping software allows you to track and organize this information.
The last aspect you want to consider when choosing a platform is how you will get potential customers back to your online store. Platforms like eBay and Etsy already have established and built-in customers that you can tap into If you’re starting an e-commerce website from scratch, you’ll need to focus on search engine optimization (SEO) and other marketing methods to drive online shoppers back to your website and products.
Pricing your product
Part of successfully selling products online is having the right pricing structure. As a small business owner, you’ll be responsible for self-employment taxes, shipping, contractors and employees, materials, monthly fees for your ecommerce platform, credit card fees, insurance, and more.
All of these aspects need to be considered when pricing your product, as well as the time it takes you to make the product, competitive rates, and your target market (budget, luxury, organic, premium, etc.). You may find that some things need to be simplified so that they are easier to make, or that you need to charge more so that you can actually make a profit. Find out your unique selling proposition and what makes your products stand out from the competition. You don’t have to be cheap to get sales.
Create great product listings
Once you’ve chosen a platform, it’s time to start adding your product listing. You’ll want to start by taking some high-quality photos of your items You’ll want to make sure there’s good lighting and a clean and clear background. You should take multiple photos from different angles so that people can get a better idea of your product details.
Next, you’ll want to add a keyword-rich description to each product. When adding keywords, consider what words people will search for when purchasing this type of item. For example, if you’re selling a purse, you might want to add synonyms (handbag), descriptors such as color and material type (black leather), name brand, size, condition (like new), function (overnight bag), and the price The more descriptive you are, the more likely someone will come across your product listing through search.
Determine your marketing strategy
In your business plan, you’ve explored your target audience, but now it’s time to write a buyer persona and clarify who you’re marketing your product to. Your buyer personas should include gender, age, income, marital status, education level, location, and likes and dislikes. This picture of your ideal customer can help you identify where, how and what words to use in your campaign
There are many ways to promote your online business, but the easiest is to share your products on social media sites like Instagram, Pinterest, Twitter, YouTube, TikTok and Facebook. Not only are there billions of users on this platform, but they are completely free to use.
If you have an advertising budget, buying Facebook ads or Google ads can be an effective way to increase sales. Just make sure you fully understand how to set them up, good copywriting techniques and measure ROI (return on investment). Sites like Etsy and eBay also offer advertising options for merchants
Once you have some sales under your belt, make sure you keep in touch with customers through email marketing. With email marketing, you need to sign up with a provider so that you can send business emails Many platforms have free trials for new business owners up to a certain number of customers. Once you’ve chosen a service, add a sign-up link or form to your site and start collecting customer email addresses. You can use your email list to send new product updates, coupon codes, and other relevant information.
Shipping and Logistics
Once those sales begin, you’ll need the right logistics to pack and ship your products to customers Supplies you’ll need include boxes, shipping labels, packing tape, packing paper for fragile items, and stickers. While you can run to the post office and wait in line to print your shipping labels, I recommend getting a MUNBYN. Bluetooth thermal printer.
With a MUNBYN thermal label printer, you can batch print your shipping labels which will save you a ton of time, as it can print up to 72 labels a minute! with MUNBYN label converterYou can convert 8 x 11 labels to 4 x 6 thermal labels For shipping.
Another great feature is that you never have to worry about running out of ink with the MUNBYN thermal label printer, which saves you time and money and is sustainability friendly.
MUNBYN’s shipping labels and stickers are easy to tear off, waterproof and have strong adhesive, so you don’t have to worry about your labels falling off during shipping. MUNBYN thermal label Coming in a variety of colors so you can match them with your branding too.
Whether you need to create custom stickers for packaging or product and ingredient labels, you can do so with the MUNBYN thermal label printer. Just use their design app or an app like Canva to create what you need. There are many options, from creating logos, thank you stickers, QR codeAnd more!
If you want to know more about MUNBYN products for small business owners, check out their website or amazon store.
Provide a better customer experience
The easiest way to successfully sell products online and get repeat customers is to provide a positive customer experience. There are many ways to do this, such as having an easy and quick checkout process and being friendly. But from my own experience buying products online, what I appreciate most in a company is responsiveness. When I have a problem, it reassures me when the company responds quickly and I have multiple ways to contact them.
As a small e-commerce business owner, you probably won’t have a large customer service team to begin with, but you can help reduce customer anxiety with items like answers to frequently asked questions, hours of operation, multiple contact methods, and automated responses to inquiries. so that they know that their question has been accepted.
You should also have standard policies for refunds, exchanges, returns, damaged products, and shipping information.
Conclusion: Selling products online successfully
Selling products on the Internet has never been easier or more affordable! So if you have been dreaming of starting an ecommerce business from home, this is your sign to start taking steps towards your goal. Not everything has to be perfect; You can always tweak and change things as you build and grow your business.
Learn more about MUNBYN And its tools for small business owners, check them out website.
This post is sponsored by MUNBYN and written by Holly Reesem Hannah Please be aware that we only advertise companies that we can legitimately recommend to our readers. See our Disclosure Policy for more information.
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