If you are looking to open up an online storefront, it can be an exciting proposition. The idea of having your product sell online will make you want to jump into it right away and get your store live. However, there are various pitfalls you need to be aware of that could slow down your growth. Make sure you understand the following concepts and set up your store the right way:

Third-Party Marketplaces

Your first decision is whether you want to sell on a third party website, your own site, or both. For instance, Amazon is the world’s biggest third-party site to sell on. It’s massive and putting your product on their virtually guarantees your market will find it. However, they also take a cut of the profits and dictate the rules of the game, so be prepared to adjust.

Setting Up a Website

If you decide to go the route of having your own website, this can be harder than it seems. You need to make sure to have proper branding, assets, security, web portals, and payment solutions. The key here is to avoid trying to rebuild the wheel from scratch. Instead, use a pre-existing platform like WordPress with themes or Shopify to speed things up and focus on the business, not technology, part of your site.

Inventory Management

Dropshipping can be a tempting game. You order something cheaply from China only when you need it after you get confirmed orders. And this can work sometimes. But if you’re selling somewhere like Amazon, they’ll penalize you for holding low levels of inventory, so keep this in mind.

SEO

We’ve talked before about SEO and the fickleness of algorithms. It’s important to note though that Amazon Keyword rankings have some differences to Google rankings. With Google, you often want at least two or three mentions of your keywords in the title tags and subheadings. In Amazon, once is enough (in the title). Secondary keywords can be inserted in the description section to rank for those as well. And the rest should be included in the details somewhere. Amazon also doesn’t rely on third party links, whereas Google thrives on them.

Selling products online is one of the best ways to make money in the modern world. However, it is also challenging, and you need to take it step by step. Make sure you understand the concepts above and how to leverage them for better growth and profit for your business. Then, you will be able to experience success on a new level.

References:

Forbes

Access Communications

Evolved Commerce

Leave a Reply

Your email address will not be published. Required fields are marked *