E commerce is an excellent way for retailers to improve their bottom line and promote their brand. Here is a checklist of the top things you must do before you launch your eCommerce store. For information regarding our Rosewood eCommerce web solutions –
Based on what we have learned as leading website designers and eCommerce developers, we have produced this essential checklist for setting up your eCommerce store right the first time. Ensure you have all these steps covered to give you the best chance of success.
1. create your eCommerce plan
Know what you are going to sell
The first step is to decide what you’re going to sell. You can sell an individual product, a range of products or even a service. Researching the product you intend to sell is critical for success.
Figure out your business model
Know whether you will make the product yourself, or whether you will import it from third-party suppliers. Will you compete on price or quality? Which of your products or services has the greatest profit margin for you to earn? Do you offer a money-back guarantee, warranty or express shipping? Ensuring that your know your business inside-out in theory, will give you a greater chance of succeeding in practice.
Know your target market
Research the market to understand whether people would actually want to buy your product. Free tools such as Google Ad-words Keyword Tool will allow you to view how many people search for specific terms or products each month, giving you an idea of general demand for your business.
Have an idea of who your target customer audience is and what their needs are. In understanding your target audience’s problem (and how your product is a solution), you can differentiate yourself from competitor businesses. Ensure your eCommerce website addresses itself as a solution clearly as this will enhance your message and increase your chance of purchase.
Decide on your business legals
Once you have chosen your product, your model and know your market, you need to decide on your business information. What will be your store name? What will be your company name? It is recommended that you take the necessary procedures to set your business up as a professional, legal company to avoid nasty lawsuits down the track. Set up a new, merchant bank account for the business that is kept completely separate from your personal account to effectively manage your business finances from day one.
Decide on your eCommerce store policies
The final part of getting up and running is deciding on your store policies. Consider how many days purchasers will have to return unwanted items or whether this will be unlimited. Will you ship internationally? What pricing structure will exist for shipping?
Ensure you have proper inventory/stock management in place, should a customer order and item that is unavailable. Do you plan on selling customers information to third-party companies? Clearly specify on your website your privacy policy. Precautions in the early stages can prevent surprises down the track, where generally the customer is favored in legal situations than companies themselves.
