Why is it important to understand how to start an online store if commerce is your game? Where should we start?
We are living in the midst of a digital age. In today’s world, consumers are no longer bound by one particular geographical location.
On the contrary, nowadays people have the power to connect with their peers, conduct research, consume content, and most importantly shop wherever they are in the world with a few swipes of a screen. And that means that in the current climate, if you’re an entrepreneur looking to grow your business, building an online store might be the best thing you ever do.
At present, 21.8% of the planet’s population shops online, and in 2021, this number is expected to rise to more than 2 billion online shoppers.
If you know how start an online store the right way, you’ll be able to boost your profits significantly and grow your business year after year.
Creating an eCommerce business is easier than you might think, and we’re going to show you how to build an online store like a pro.
How to start an online store — the big picture
We’re going to canvas a lot of eCommerce territory in this article, including:
The current state of eCommerce.
The 3 basic steps to start an online store.
Choosing your business name and domain name.
Refining your idea with market research.
Finding your audience.
Important elements of an eCommerce website.
How to create an online store with GoDaddy.
How to promote an online store — and why you must.
Connecting your store to online marketplaces.
Building an email marketing list.
Embracing social media marketing.
Sharing customer testimonials and positive reviews.
Exploring discounts and coupons.
Managing online business listings.
Conclusion and next steps
With a little know-how, an excellent idea and a powerful eCommerce solution for building and maintaining your online store, you will reap great rewards.
To put this money-making, brand-boosting potential in perspective, let’s look at some essential online shopping insights you need to know.
The current state of eCommerce
Before we delve deeper into how to start an online store, let’s explore these eCommerce stats, facts and figures that prove the power of online shopping:
On average, men spend $220 per online transaction and women spend $151 per transaction. That’s a high-value average spend per customer.
Online shopping is more popular than ever before and by 2021, eCommerce sales are expected to climb to 17.5% of retail sales across the globe. That’s plenty of profit up for grabs.
During Q3 2018, smartphones made up 61% of retail site visits globally. If you’re online store is mobile-optimized, you’re likely to boost your conversion rate, big-time.
The main reason people shop online is that they’re able to buy items or products 24/7, literally.
In today’s world convenience is king. Give your audience what they want and you’ll never look back.
An eCommerce website is an extension of your business that reaches wider than any local marketing promotion or storefront.
Realizing the full power of an eCommerce website
Just to reiterate (and we do so because absorbing this message will give you the best possible chance of easy eCommerce success): eCommerce stores give businesses the power to act big, but remain small.
Through professional and powerful, yet affordable, online storefronts, businesses can reach an extremely large market and sell to a vast and wide customer base.
Estimations of U.S. online sales for 2019 are projected to soar to over $560 billion — and that number is only expected to grow. The same projections put eCommerce sales at roughly $414 billion to more than $735 billion by 2023. Mind-blowing.
As mentioned, online stores give small businesses the opportunity to tap into a massive marketplace and an entire nation of shoppers.
Inspired? Great, let’s continue.
Easy eCommerce: How to start an online store in 3 steps
It’s clear that if you’re a modern business, entering the eCommerce arena is a wise move. To help you start your digital journey, here’s our how-to guide to create an online store, broken down into three simple steps:
Fine-tune your idea.
Create your online store.
Promote your online store.
Let’s get started.
1. Fine-tune your idea
At this point, it’s likely that you know what you want to sell. Start fine-tuning your idea by deciding on a business name, conducting market research, and finding your audience.
Consider these questions: What makes your brand stand out from others in your niche? What particular pain points do you solve?
Work out the answers to these questions and you’ll be able to move forward in the best possible direction.
Choosing your business name and domain name
When it comes to naming your eCommerce business, choosing a name that is digestible, memorable, relevant, good for digital marketing purposes and will work well as a domain name is a must.
This comprehensive guide to naming a business will walk you through everything you need to know.
Your domain name is the web address for your digital storefront. You want it to truly represent who you are and what you have to offer — at a glance.
There are myriad domain extensions (the part of the domain name to the right of the dot, like .com) available to help you secure the perfect name. Consider a domain extension that suits your industry or niche and that will help you stand out from the crowd. Think .shop or .store for general eCommerce, or get more specific with .jewelry, .clothing, .coffee and more.