The world has gone digital within a short period, yet the conventional way of buying and selling through brick and mortar stores is still playing catch-up in this digital transformation. Brands need to acknowledge their specialties and choose a digital solution that aligns with their business model to make the best transition to eCommerce. How to start an eCommerce Store?
There are several eCommerce solutions that this post attempts to demystify and help businesses with actionable ways to get their eCommerce stores up and to run.
How to Start an eCommerce Store?
Individuals looking to start an eCommerce store can use any of the three major types of platforms. They are On-Premise platforms, PaaS platforms, SaaS platforms.
- On-Premise Platforms
On-premise eCommerce platforms are hosted locally by the retailer and managed by their IT staff. In such cases, the company handles all the technical activities, such as updates, security checks, website building, and accessing tools and features. This solution is capital and time-intensive and is usually employed by large companies who desire more control of internal functions.
- PaaS (Platform-as-a-Service)
PaaS is a software platform on which businesses build their software and connect it to other business systems. Also, PaaS is an advanced option more suitable for large-scale B2B businesses with enough capital to develop their strategy on it.
- SaaS Platform (Software-as-a-Service)
SaaS is software that is saved on clouds and accessed through the internet. A business that uses a SaaS platform does not need to install or download anything to its system. All the business needs to do is open an account with the platform and sign in whenever it needs to conduct business operations. SaaS is especially great for persons just planning to start an eCommerce store.
Critical Elements of an eCommerce Store
An eCommerce store has four critical elements that are responsible for full-scale buying and selling operations. They are the product, the website, the payment system, and security. Any individual or business entity looking to explore eCommerce must ensure these elements are in place.
The product is the core of any business. Any person looking to start up eCommerce must first decide on what product to sell. It is often preferable that the product be something the owner is passionate about. This way, the business gets to make money while enjoying the process.
An eCommerce website is its store; hence it should be as attractive and efficient as possible. Setting up an eCommerce website is most straightforward with Software-as-a-Service. By implementing a SaaS solution, eCommerce owners can build their online stores and access the necessary tools and features that lead to growth. All business owners have to do is create an account, subscribe, customize their store, and start selling.
3. Payment Systems
The payment system of an eCommerce store is crucial to the entire business. It should be secure yet accessible and easy to navigate. Although credit cards are the most popular, several online stores now use other payment methods like Apple pay, Amazon pay, PayPal, and Google pay.
The Payment Card Industry (PCI) compliance is a requirement for accepting credit cards online. eCommerce merchants must ensure that PCI compliance is built into the eCommerce platform to save them the hassle of dealing with it themselves. Anti-fraud tools are also essential to protect the business from lost inventory and chargebacks.
What to Consider Before Opening an eCommerce Store?
Opening an eCommerce store isn’t something that you should do on a whim. There are vital things to take into consideration. Here are some things anyone venturing to start an eCommerce store should know.
1. Choose What to Sell
When planning to start an eCommerce store, whether full-time or part-time, one must carefully choose the product to be sold. There are numerous products one could sell online, from clothes to accessories and services. The possibilities are endless. When picking a product to sell, it’s essential to ask, does it solve any problem? How many people are willing to buy this? What is the product’s niche?
2. Determine your target audience
A business’s target audience is the people who intend to buy the products. They are the ones most likely to purchase the product. Determining the target audience will help eCommerce businesses properly brand and market the product.
3. Name the Store and Get a Domain
When looking to start up eCommerce as a business, naming the store and getting a domain is of the essence to create a visible identity. A domain name is an identity and the address for customers to identify the eCommerce business. It shapes the eCommerce brand and is likely the first impression of the brand that users get. The ability of customers to identify with the brand name will boost the store’s customer base.
4. Connect to a Payment Provider
The method of payment is a priority in running an online store. There are numerous payment methods options to choose from. When choosing an online payment method, accessibility, looking out for security, ease of navigation, flexibility, and charges are essential.
Also Read: How to Open an Online Store?
AllValue is a simple to use Software-as-a-Service platform that helps eCommerce merchants build online stores, providing eCommerce merchants with one-stop services, including websites, marketing, promotion, and operations.
AllValue offers expert technical support, and our services are designed to free eCommerce merchants of all the technical responsibilities of running an online store so merchants can focus more on expansion and growth. Still in doubt? Try AllValue’s 15-day free trial eCommerce store today on AllValue.