Let’s face it- there are millions of eCommerce businesses across the globe selling every possible product that money can buy. So unless you also intend to invent what you sell online, your eCommerce startup will have to compete with a countless number of businesses operating in the same space. The good news, however, is that the space for eCommerce businesses is immensely large and growing by millions each year who offer enough room for multiple success stories.
The competition in eCommerce is also very different from what you would find in other industries. It is one of the handful of domains where it is possible for a cash-strapped startup running from any garage to compete against global conglomerates with limitless resources and influence. But having a large-enough market and open competition doesn’t mean that success is served on a platter, not by a long shot. In fact, it’s just the opposite- with such a large landscape and so many businesses, it is practically impossible And while there is no roadmap to success, there are the factors that will get you somewhere close:
1. Mark the Contours
You can’t be Amazon from day one. Even Amazon wasn’t Amazon from day one, it was just an online bookstore. So the first thing you need to do is define your business- what exactly is your purpose? If you sell shoes online, what exactly differentiates you from those dozens of other shoe sellers? This will actually form the foundation of your venture upon which business strategies would be later deployed and altered.
2. Formulate Strategy
This is perhaps, the most crucial and elaborate part in pre-stages that would largely determine the future trajectory of your startup. Find out who your core customers are, with whom are you going to compete with, what your USP is going to be, how do you plan to reach out to customers, how will allocate the funds. These are just a few of the decisive factors that you need to figure out even before a single line of code is written.
3. Build to Express and Scale
As discussed earlier, when it comes to eCommerce, there is a little scope of originality left and for that reason, the need for creativity is paramount. That is if you can do nothing about products themselves, you need to sell experience along with it. Get your store the best possible user experience that you can include aesthetically appealing design, better usability, a bouquet of features and virtually everything that may differentiate you from your competitors.
Then there is the scalability. Your online store isn’t just a piece of technology but also the face of your brand that you can overhaul in future but can’t replace. This is why you must ensure that technologies you deploy are powerful enough to not just manage your current business but is also scalable enough to meet your future needs.
As important as it is to have a rich expressive website that scales parallel to business growth, it is simultaneously important for them to be secure, especially, for eCommerce businesses because they store personally identifiable information and transactional data. So, unless customers are sure that the information they share with your store will remain secure, it is almost certain that they won’t share it at all. So when you hire a developer to build your store, be sure they are adept enough to incorporate those security features in your store.
5. Customer Satisfaction
Ask any successful business or eCommerce development services and they will tell though you can gain popularity through a myriad of marketing campaigns, it is ultimately the customer satisfaction that will lead you to success. In fact, for a startup, you must be prepared to walk the extra mile to deliver not just satisfaction but customer delight.
Giving prompt delivery, offering impeccable customer support, ensuring the highest degree of quality assurance, are just a few of the many things that your business needs to do out of habit.