Good businesses always do research before diving into the industry. Entrepreneurs are tasked with creating a business framework, marketing plan, product development, or shipping and delivery systems.
Five factors to know before launching a business
Before launching your e-commerce business, you need to evaluate the logistics behind every operation. Here’s what you need.
Product development and logistics
Are you running an online t-shirt store? Find out how your business is different than anyone else. Are you partnering with local artists? Is that an original design you’re offering to customers? Are you using a special material for your clothing?
Moreover, what are the logistics to the creation of your product? Does the production costs higher than your price and customers’ mean of spending? According to Harvard Business Review, proper inventory control and management can save you 40 percent of logistics expenditure.
As a small business owner, setting up an e-commerce platform is crucial for customers to transact with you. But there are a couple of factors when choosing the best e-commerce platform, business owners should consider.
Businesses would want to launch an online store that’s easy to manage without draining their wallets. From creative control and pricing to marketing and analytic, here are our thoughts of the best e-commerce platform to use.
There’s Shopify, WooCommerce, and BigCommerce with vast sales features and connected apps for marketing businesses. Small business owners will find the user interface quite easy to use. Entrepreneurs can save much on their budget because these platforms allow owners to create a customizable store without learning to code.
Creating a sound digital marketing plan involves a couple of factors ranging from budget, content, and channels for your campaign. Navigating the online world can be time-consuming and confusing. You have to jot down which websites and social media platforms you can maintain momentarily to grow your business.
For startup e-commerce businesses, you need an online platform, local business directories, email marketing, and social media accounts. After creating one, it’s important to evaluate your marketing plan to track how you achieved your objectives.
Shipping and delivery
One advantage of an e-commerce business is that entrepreneurs get a global target audience. While this could mean more customer traffic and product sales, it also could be a problem for your shipping and delivery logistics. Know what ticks people off when delivering a product worldwide. Too many couriers mishandled a product that could irritate a customer. Key protective packaging is important to businesses for maximum revenue and deflects product liability and returns.
Luckily, in a research done by Future Market Insights, the protective packaging industry is poised to increase innovative products for a cost-effective barrier against delivery shocks. North America has a strong presence in developing protective packaging with a projected growth of 60 percent by 2029.
Interaction between a business and a customer should be maintained at all times to boost sales, customer retention, and brand awareness. To provide good customer service support, you need to oversee their concerns and queries.
A customer’s gratitude is already a boost of marketing to a business. What’s more, a happy consumer will likely turn as a loyal customer.