How to sell online?- An Ultimate Guide
Indian eCommerce sector is booming. According to research conducted by Statista, there were 224 million online shoppers in India in 2018 and it is expected to cross 280 million by end of the year 2019. Internet and the explosive growth of smartphones have fueled this growth further. If you have a product to sell, this is the best time to put it online.
Choose the right platform
The process to market your products online starts with picking the right platform. You can either start with putting your products on marketplaces like Amazon Seller Central, Flipkart Seller, PayTM Smart Seller etc. or create your own e-commerce website using CMS like Opencart, Woocommerce, StoreZigo, and Magento.
Setting up your own eCommerce store is a good way to enter the market. If you have a unique product that only you can source then it can set you up as a brand. However, it is a bit technical and requires expert knowledge to set up the store.
If you are planning to sell your products on marketplaces. You must read our blog: Why sell on a marketplace like Amazon and Flipkart?
Design an eCommerce Business Model
The business model should contain the details of the business concept, market research, marketing plan, operations plan, and financial planning. Find out products that have good margin after considering all those costs. Few important costs that you must calculate are Taxes, Shipping Cost, Packaging Cost, Payment Gateway Cost, Storage Cost, and marketing Cost.
Create a digital catalog of your products
Create a list of all products in a spreadsheet that you can import to eCommerce marketplaces or self-hosted web store. This list should contain Product Code (or SKU), Product Name, Description, Category, Selling Price, Discount (If any), Brand, Colour and other applicable attributes.
It is better to get organized from day one. You can also create a simple checklist for doing quality checks, packaging, invoicing, etc. This will all help you when your web store is ready and running.
Make an online selling strategy
Before start selling online you have to make sure you have a smart online selling strategy. Elements of a successful online business strategy are:
- Eye-catching design
- Advertising techniques
- Email Marketing activities
- Website monetization
- Social Media Marketing
- Analytics & online traffic analysis
Use A Good Inventory Management Software
Inventory management systems are used to monitor inventory levels as well as orders and deliveries. The system tells you when you are likely to run out of stock so that you can order items in advance. This reduces the chances of stock outages and ensures you always have enough goods in hand to serve the needs and demands of customers. Some of the software even provide inventory sync option with your shopping cart or marketplace account.