Successful E-commerce Business – A 4-Step Definitive Guide

1. Choosing Your Product

This step may be one of the hardest steps, but it is certainly not impossible to achieve. With the right tactics and effort, you can navigate through this first and vital step. When considering what product or service to sell online, you need to ask fundamental questions such as “What product or service are people willing to buy into?” , “what is the purpose of your business?”, and “ how adaptable is my business to the times?”

The fundamental thing here is to focus on your potential customers’ needs and the product they will be willing to pay for and not what you feel you can sell to make money. You can also consider the things that friends, co-workers, or family would be interested in. Also, explore popular social selling sites such as Pinterest, Etsy, Instagram, etc. for more input on what to sell.

To help you have a clearer idea of the right products to sell, you can make use of tools that specialize in product research. These tools provide the kind of data that will help you discover products that are in high demand. The data consists of monthly sales estimates, sales rank, reviews on a competitor, and likewise an opportunity score to help weigh demand against the competition.

While going through the process of picking a product, always remember that sales are specifically for e-commerce and not a walk-in store. With this in mind, your products need to fit the following bill:

    ● Trends: the product needs to be what is in vogue. Rather than selling old stuff, anyone can get off a shelf, capitalize on providing the best of trending products. Google trend is a perfect tool to help you check out top trends.

    ● Light: you need to bear in mind that a lot of shipping will take place when you sell products online. So take the weight of the products you choose to sell into consideration to avoid the high cost you will need to pay for shipping heavier products.

    ● Cost-efficient with high value: try to consider products that have low production costs but a value that comes across as higher.

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