Over 380 websites are created every minute. With statistics like that, it can be difficult to navigate creating your own e-commerce site. It’s daunting to look at the sites of other e-commerce entrepreneurs, and wonder how you can make something that stacks up.
Despite how daunting it is, you should know that the field is a fruitful area for e-commerce entrepreneur ideas, and it is expected to see rapid growth. E-Commerce sales are estimated to grow 85 percent from their 2019 totals by 2022. With growth like that, e-commerce entrepreneurs have the odds in their favor – provided that they are also armed with the right knowledge and tools. In this piece, we’ll go over some important e-commerce entrepreneurs ideas everyone should know.
Every business starts with a great idea, but even a great idea can flounder if it doesn’t receive careful planning. Think of yourself like an investor. Don’t put money into a company until you can envision careful research, smart goals, and a method to get your money back and – eventually – turn a profit. Below are some helpful tips to help you get started.
Big Isn’t Always Better
Often, e-commerce entrepreneurs think their success hinges on getting huge retail sites behind their product. Selling contracts to big brands is great for making money, however, you shouldn’t feel the need to rely on sites like Amazon, Etsy, and eBay. More often than not, these sites don’t do any marketing for you. And, they take a cut of what you’re selling.
Sometimes, using an already established platform to sell your e-commerce entrepreneur ideas is smart – but you should always do your homework. There are plenty of free or low-cost tools out there for creating your own platform – you shouldn’t bank on using the big guys to bail you out. By doing your own marketing that drives traffic to your product, you should be able to keep the profits from your sales.
Differentiation Is the Name of the Game
Boutique products are all the rage these days. However, the challenge there is convincing the first wave of consumers to spend money on your e-commerce entrepreneur ideas instead of what they’re already buying. Consumers are really into finding the newest, trendiest brands or products and spreading awareness of them via word of mouth. You need to find a way to show them that your product is that trendy new thing.
Think about what makes your product stand out from the competition. Think outside the box. Is your product greener? Does it grow with your consumers? Ultimately, you shouldn’t be afraid to make some bold claims – just make sure they are 100 percent true and verifiable.
Get in the head of your ideal customers. What do they want more than anything? How can you make that wish come true? Provided you can find an answer to that question, you will have an incredible method for hooking new customers.
Marketing Is Always Key
Marketing is the make-or-break factor of all e-commerce entrepreneur ideas. You might have the best idea and the greatest differentiation message, but no one will buy your product if they don’t know it exists. Running a business is a time-consuming process, so marketing is an area where you might consider hiring out a third party.
Regardless of what you choose to do, be sure that you have a clear idea of your target customer and how to go where they are. Be sure to use clear, consistent messaging to clearly establish what your brand is all about. How can you make your product interesting and fun to share with friends? By getting customers to do your advertising for you, your reach can increase at an exponential rate on a limited budget.
Be Creatively Competitive
With the internet, you need to stand out. There are billions of websites, and billions of e-commerce entrepreneurs. Regardless of the industry you are in, you are most likely competing with huge brands. Realistically, you probably will not be able to match their marketing budget. But, if you have a unique perspective, you can use that to your advantage. Learn about your ideal customers and their online and real world habits. Are there other interests these people might have outside of your products? Often, when brands go after their audience in unconventional places, they have incredible success.
Regardless of e-commerce entrepreneur ideas, KitelyTech is uniquely positioned to help every business succeed. Contact KitelyTech today to learn more about our products, services, and proven track record of helping entrepreneurs – in e-commerce and plenty of other sectors – stay ahead of the curve.