Having an online business has endless advantages and benefits for both entrepreneurs, businessmen and buyers, today, opening an online store is much cheaper than opening a physical store, you not only save on facilities, machinery, furniture, equipment, rent, but being on the internet, the visibility of the business is much higher.
Although it is easier to start an online business, you must be very aware that, like any business, it is important that you can manage it properly. Take a pencil and paper and follow these steps:
1. The first thing you should review and analyze is that your business idea not only solves a need, but in the long term that idea is sustained, despite changes and market trends. In this step, we suggest you do a search for internet businesses or web pages that are associated with your idea.
For this, you can use the largest internet search engine, Google, in addition to investigating, analyzing and corroborating that the business idea you have can work, it will help you analyze the competition and especially the demand it has.
If you want a much more specialized search, we recommend using a free Google tool, called Google Trends, this tool will allow you to see the trends or popularity of the term or keyword in a specific location and period of time.
2. Once you have validated that your business idea has a very good demand on the internet, you must check that this business is scalable, that is, that it has a very strong growth potential and even that in the future, it can be internationalized without you having to reinvesting in infrastructure or raising costs, at this point it is not what you sell in itself, but the way you offer it to the market, which makes a difference.
Although having a business that is scalable is very important, it is not a mandatory requirement, not all companies are created with a perfect and stable business proposal, here the really important thing is that this business idea has the possibility of reinventing itself over time. .
3. When you have already established your business idea, it is very important that you identify the channels through which you are going to make yourself known, if you still have doubts about which social networks are the right ones for you, we recommend you consult the following article how to use social media for your business
4. Control the stock of your online store. When a potential customer visits an online store, they have to know in real time what stock they have available and what their price is. Many entrepreneurs take the risk of selling without previously checking if the product is out of stock, the money-return process becomes complicated and this ends up affecting the relationship with the customer and the credibility of your business.
To carry out good stock management, it is essential to carry out an exhaustive inventory of all the products you sell, indicating the available quantities of each one, the date of acquisition of each product and, in case of having a large quantity of them, their location. in the warehouse, warehouse or space to facilitate a quick location. From there, it is easier to keep track of the products we sell VS those we must order from our suppliers.
5. Select the payment method, define the payment options for your products or services, you can do it including the deposit into an account, card payment, Paypal, cash payment, money orders, etc.
It is important to offer the largest number of forms of payment to your clients, however, it is advisable in each case to evaluate the alternatives following three basic requirements:
Make it adaptable: the customer must be able to pay wherever they are, without many obstacles
Security: with an authentication system that facilitates and simplifies the payment process
That offers confidence and comfort: simple steps but with the support of traditional financial institutions
6. Define how to make shipments, as electronic commerce is booming, we find more and more courier companies that offer very competitive services, the most important thing is that the company you choose must have enough coverage to cover the demand and that it counts with a secure tracking system where they respond in case of delay with deliveries, damage in transportation and in case of product loss.
Remember that your product can be very nice, functional and in perfect condition at the time of dispatch, but if the condition in which it arrives is not optimal, the chances that that customer will buy you again are nil.
7. With the administrative part much clearer and more organized, it is time to start attracting customers, we know that getting them is not an easy task, however, there are several tools that will allow you to reach them more easily, here are some ideas:
Website or Blog: If you have your own website, you can use it to publish valuable information that helps the visitor to solve a problem and direct them towards the purchase of your
product / service.
Social Networks: They are effective to create a community around your brand or business, with social networks you have greater visibility, you attract customers more easily, you can create your loyalty strategy with valuable content there, open a direct communication channel and you have the possibility of setting your content to generate greater reach.
Online Directories: They are excellent tools for businesses that offer their services or products locally.
Digital advertising: It is quite effective, since you can obtain a very high percentage of return on investment, with excellent results and with a very little budget.
Email Marketing: It helps you close sales and keep in touch with your potential customers.
8. Measure, analyze and draw conclusions, measure the performance of your business, it is the best way to know if your business is meeting the objectives you set for yourself, and the best way to do it is by identifying the sales volume generated by each one Of the references that you have in your online catalog, generally, the most sought-after products are the ones that are sold the most, however, you can use the statistics of each of the channels you have in your business to make decisions and improve their profitability , generating different actions that boost your sales (emails, text messages, targeted advertising, special promotions, etc).