December 7, 2022
E-commerce -
E-commerce 101: A Beginner's Guide to Getting Started | OneLink Holdings
Need help starting an e-commerce business? Read this guide from the team at OneLink to learn how.
E-commerce is the buying and selling of goods or services online. It represents a huge opportunity for businesses of all sizes, and it’s growing every year. It Is predicted by the end of 2022, E-Commerce will account for 20.4% of global retail sales, up from only 10% five years ago. Australian shopping behaviour reports show that on average, 5.4 million households participate in online shopping each month.
If you want to join the e-commerce revolution but don’t know where to start, this guide is for you. We’ll cover the basics of getting started with e-commerce, from setting up your online store to driving traffic and making sales. By the time you finish reading this guide, you’ll have all the information you need to start selling online.
Types of e-Commerce
1. Business to Business (B2B)
This is when businesses sell products or services to other businesses. The buyer is typically the end user of the product however the buyer can also resell to the consumer. A great example of this is Amazon Business.
2. Business to Consumer (B2C)
This is when businesses sell products or services to consumers/individuals. This is also known as retail e-commerce. The most popular platform for this type of transaction would be eBay.
3. Consumer to Consumer (C2C)
This happens when individuals sell products or services to other individuals. This interaction means that both the buyer and seller are consumers instead of businesses. Usually, the platforms used for this type of transaction are classified ads such as Craigslist or Kijiji.
4. Consumer to Business (C2B)
This is when individuals sell their own products or services to businesses. A well-known example of this would be Upwork or Fiverr.
Establish a product to sell
To start your e-commerce business, you need to know what products you want to sell. Establishing your product idea can be the most challenging part of the process. Once you’ve established what you are going to sell you will need to identify the best manufacturer to produce your product, this can be tricky as there are countless factories who might produce your product but they may not be the best fit for your product. You will need to have a clear understanding of what it is you want to sell with a clear product brief to be able to go out and find the best suited manufacturer.
Setting up Your Online Store
The first step in starting an e-commerce business is setting up your online store. If you already have a website for your business, you can add an online store to it using a platform like Shopify or WooCommerce. If you don’t have a website, you can create one along with your online store using a platform like BigCommerce or Volusion.
Once you’ve set up your store, there are some key elements you’ll need to add before you can start selling. These include:
Colour Palette
Many businesses underestimate the importance of developing a colour palette for their online store. Keeping a regular theme with colours and font helps to create a better-looking online platform.
Font Selection
Consistency is key when it comes to picking and using fonts. A general rule is to stick with no more than three different fonts. Being able to easily read the font used is also critical.
Product pages
Add pages for each product or service you want to sell, including photos, descriptions, and pricing information. To generate high-converting product pages, it is important to write captivating product descriptions with high-quality photography of the product. The Add to Cart button should stand out from the other content on the page and be the first thing you see, with the area around the button free from other distractions.
A shopping cart
This will allow customers to add items to their purchase and checkout when they’re done.
Payment processing
You’ll need a way to accept payments from customers. You can do this through a third-party processor like PayPal or Stripe, or you can use a merchant account and gateway like Authorize.net.
Shipping options
If you plan to ship your products, you’ll need to set up shipping options and rates. Will you offer free shipping if you spend over a certain amount? Or will it be a flat rate. If you want to allow for international shipping, a courier service such as DHL may need to be used. Couriers can cost a substantial amount, therefore it is crucial you establish appropriate rates to offer at the checkout to avoid eating into your margins.
Driving Traffic to Your Store
Once your store is set up and ready to go, it’s time to start driving traffic to it. There are several ways to do this, including:
Search engine optimization (SEO):
This involves optimizing your website and its content so that it appears higher in search engine results pages (SERPs) such as Google and Bing. Writing long descriptions with the relevant keywords when listing products is a key process of optimization. Backlinks from relevant websites will also need to be implemented in order to drive up your ranking position. When potential customers search for keywords related to your products or services, they should be able to find your site easily.
Pay-per-click (PPC) advertising:
This is a form of advertising in which you pay a fee every time someone clicks on your ad. Google AdWords is the most popular form of PPC advertising; other platforms include Microsoft Advertising and Amazon Advertising. PPC advertising is cost-effective and produces fast results, with the ability to target the ideal customers for your product.
Social media marketing:
This involves creating and sharing content on social media platforms like Facebook, Instagram, Twitter, and LinkedIn that promotes your products or services. Getting product testimonials from happy buyers is a great way to promote your products. The aim of social media marketing is building brand awareness and advertising. Social media platforms have the ability for advanced targeting tools that you can use to build ads to expose to the perfect audience.
Influencer marketing:
Influencer marketing is a great tool to be able to quickly promote your product and various social media accounts. Influencers which will promote your product will generally request a flat fee payment or a certain commission based on the sales generated from pre determined posts and marketing they will do on your behalf. There are a number of other payment options however these are the most common, however keen in mind influencer marketing can get quite expensive depending on the influencer.
Making Sales & Fulfilling Orders
Now that traffic is coming into your store, it’s time to start making sales! When an order comes in, there are a few key steps involved in fulfilling it:
Processing payments:
Once an order has been placed, you’ll need to process the payment before anything else can happen. If you’re using a third-party processor like PayPal or Stripe, this will happen automatically; if you’re using a merchant account and gateway like Authorize.net, you’ll need to log in and manually process the payment yourself.
Packing & shipping the order:
If you’re shipping physical products, you’ll need to package them up securely and send them off via the shipping method(s) that the customer selected at checkout. Are you going to invest in branded packaging or obtain packaging from post offices or carriers. The best options for packaging include padded boxes and envelopes, with extra packaging materials to prevent any damage to your products in transit. As a point of difference some brands will use packaging which can be reused by their customers, this adds as on going marketing and can really set you apart from your competition.
Return Policy
The most common return policy is 14 day returns with full refund. Some businesses offer extended returns of up to 90 days but in the best case your return policy should mirror the refund and returns your manufacturer is willing to provide to you. Your return policy needs to be outlined on the website. You will need to establish a return form that customers are required to fill out if a return is necessary.
These days, more and more businesses are moving online—and for good reason. E-commerce offers a huge opportunity for businesses of all sizes, allowing them to reach new markets and make more sales than ever before. Getting started with e-commerce can seem daunting at first—but luckily, we’re here to help! In this guide, we covered everything you need to know about setting up an online store and driving traffic (and sales!) including tips on SEO, PPC advertising, social media marketing, and processing payments.
Written By
One Link Holding team
With our experience it puts us in a very unique position in being able to take your business from idea to reality, or if you’re part of the way there we can help with a number of individual areas in your business.
