10 Steps To Profitable E-commerce

By: wood1e

The following steps can be used as a checklist to ensure that you have everything in place for doing business on the Internet. Once your Web site is up and running, you'll be able to implement low-cost marketing and advertising techniques for promoting and managing your business.

1. List goals and ideas.

Determine what your goals are for using the Internet for the promotion of your business and/or selling products on the Web. Sit down with the people who are going to be helping you with your online Web site and the e-commerce part of your business so that you can go over your ideas for design, implementation, and promotion. It's important not to discard any of your goals and ideas, no matter how silly and farfetched they seem. You want to be as creative as possible to start with, and then you can fine-tune your list by getting rid of those ideas that are not cost effective or not considered for adoption. This is a good time to do a preliminary projection of your budget, incorporating all the potential costs so that you can set realistic expectations for your Web site and online storefront. You will adjust your budget later, after you complete steps 1-4.

2. Review the products and services you intend to sell.

Take some time to carefully review the products and services that you're offering on or through your Web site. Things that you should be asking yourself include the following: What are the advantages and disadvantages to your business of selling or advertising online? Are you willing to accept payment online, and if so, what payment methods? What logistics will you have to consider about shipping your product, including cost, method, etc.? Are you willing to consistently update and maintain your Web site to reflect current products, market trends, and pricing?

3. Compare online e-commerce Web sites.

Find Web sites that are related to your business and take some time checking them out. Look at how they promote and advertise similar products or services as well as how each Web site is laid out and navigated. If a similar Web site uses a shopping cart for online purchases, try it out, stopping, of course, at the point where you're ready to commit to a purchase. See how smoothly the process works and what can be done to improve the process. Don't just look at e-commerce sites that are within your own country, since consumers won't limit their shopping to those businesses where they live. Look at the way other countries handle e-commerce Web sites so that you have a broad spectrum of Web sites with which to compare yours. A wide range of experience and knowledge of how competitors operate their online businesses is valuable information that you can use to get the upper edge on competition.

4. Determine your target market.

Determine what market of consumers you want to target with your Web site. If you're using your Web site to promote your brick-and-mortar business, decide if you're going to be selling your products and services only locally or if you're willing to sell outside of your immediate market area. Since the Internet is global, there are many reasons to promote your Web site to the national or global marketplace. If you're selling your products or services online, you'll need to decide if you're only selling within your own country or if you're going to be an international e-commerce company. It's important to know who your Internet audience is going to be so that you can target them effectively. If you're selling your products internationally, you're going to have to be prepared for some potential language barriers.

5. Budget for your Web site.

It's important that you have a predetermined budget for your Web site so that you can stay within the guidelines of what you can afford. There are many aspects to your Web site that you're going to need to take into account, including the development of your Web site, marketing of your Web site and business, customer service and maintenance, Web hosting, the cost of a merchant payment system, secure server certification, domain names, search engine submissions, and any new staff that you may need to hire to maintain your Web site or to handle the inflow of new business. You want to know where your business costs are going so that you can allocate them appropriately. In most cases it is not necessary to hire a full-time Web designer. After your initial Web site design is completed, all you will need is monthly maintenance and updates in most instances.

6. Determine your unique selling points.

Determine what the unique selling points are going to be for your business. There are many Web sites on the Internet that are going to be selling the same products and services that you are, and you must separate yourself from the competition. This means that you need to have selling features that will make consumers want to buy from you instead of the next Web site that they hit. Make a listing of unique selling points that you have currently and those that you're willing to consider for future use.

7. Create a marketing plan.

You need to have a solid marketing plan in place so that you know exactly where you want your business to go and how you want to get there. This should be a written plan that you can sit down and read logistically. An online marketing plan should address search engines and techniques for improving a Web site's visibility on the Internet.

8. Decide on a Web site structure.

Determine what you want the structure of your Web site to be like. You want to know ahead of time what you want your Web site to do and how you want to achieve that function. This is crucial to implementing your Web site design plan and integrating how you want your shopping cart to act and perform within your Web site. Careful planning should be given to designing and laving out the structure and organization of your Web site.

9. Implement online Web services.

Have all of the services that you're going to need for your Web site ready to go. This includes Web hosting, a digital certificate, and your completed Web design, including detailed product or services descriptions (including digital images and pricing, if appropriate). Once you launch your Web site, ensure that you have ample amounts of product in your inventory ready for sales.

10. Launch your Web site.

This last step marks your entry into the world of e-commerce. Keep in mind that you need to keep a close eye on your Web site when you first go live so that you can catch any mistakes or areas that need additions or improvements. Listen to customer feedback for potential problem areas or areas for improvement. Also, encourage friends and relatives to give your site a thorough "shakedown."

By following the above steps, you'll be well on your way to a live Web site for promoting your traditional brick-and-mortar business or for selling your products and services to the global Internet community. Having all of the above e-commerce concepts in place will ensure that your business is ready to earn you new customers and greater profits, and doing your research and planning will ensure that your e-commerce solution is obtained at the lowest possible financial investment.