Starting your own e-commerce store has never been easier – and more difficult – than it is today.
So what does that mean? How can be it be easy AND difficult at the same time?
Okay, let me explain . . .
It’s easy because you no longer need technical know how. Low cost, user-friendly and purpose built online store platforms have taken care of all that, and now almost anyone can set up a half decent store without too many headaches.
It’s easy because online shopping is a fast growing industry and the more money that consumers spend online, the more opportunity for new online store owners to make their mark.
It’s easy because many wholesalers are now willing to drop ship for online retailers. This means you can start and operate without ever investing any money in stock. In fact it’s more than possible to get going with as little as $100 – $200 in your pocket.
Sounds amazing right?
Yes it does and that’s the problem. Because it sounds SO easy, it attracts hoards of wannabees who are under the misconception that all they need to do is throw up a website, list a bunch of products and hey presto, cash in the bank!
If it really were THAT easy, almost every new online store would succeed. But they don’t. In fact, 90% of them fail miserably.
But it’s not as bad as it sounds. Most failed online stores failed for very specific reasons. The two biggest causes of failure are:
- Not enough traffic (visitors) to the store
- Not enough sales (visitors not converting to buyers)
To succeed, you need to master the art of getting traffic to your store and then converting that traffic into sales. One without the other is useless, you need both.
Fortunately, you don’t need deep pockets in order to promote and market your new store online. Most of your marketing can be done without spending any money at all. Getting your visitors to buy from your website requires some ‘know-how’. Some new online sellers think it’s all about pricing their products as low as possible.
In fact, you could charge higher prices than your competitors, but get more sales than they do. Pricing is only one small part of the equation and it’s way down the list as far as ‘what makes people want to buy from you’.
Want to learn more?