Information needed to start an e-commerce business

E-commerce sites are becoming more and more popular in the business world of Bangladesh due to the abundance of internet and availability of smartphones. An e-commerce business can be started with a low investment website. From housewives to millions of unemployed people can come out of their tagline and become a successful e-commerce businessman. There is a correlation between business and investment and strategy. Today's article is about what an entrepreneur should do to start an e-commerce business.

Market research:

Before starting a business you first need to know about the market. And for market research, the following issues need to be emphasized.

• Demand for this specialty has grown significantly as a result of recent corporate scandals.

• Customer demand

• What products do customers buy from e-commerce sites,

• How and by what means they prefer to deliver the goods

• Which way do they feel comfortable paying the bill

• How long does it take for a product to be delivered

• The goods are delivered by any mode of transport in and out of Dhaka city

• The products that are sold on the e-commerce site

• Where are they sourced from

• How to manage inventory in e-commerce business

• Who is providing warranty or replacement facility in different products

• In some cases the customer may receive a rcustomers

• at and how e-commerce merchants offer discounts or other benefits to customers

• The website through which the e-commerce business is gaining popularity, how others are designing it

• Who are the competitors in the market for e-commerce business and their business principles

• What kind of product are they selling on their site

Have you thought about the discount?

Which product would you like to start an e-commerce business with?

Think of the product;
You need to set goals that you want to start an e-commerce business with. In this case, you need to be a little tactful. The success of your business depends largely on determining the right product. Decide based on customer demand and product availability. Choose the product of your choice from the product category of daily necessities, essentials, gift items, clothes, books, notebooks, pencils, etc. And if you want to take a slightly different style of initiative, you can choose a product by choosing from the famous products based on the area that we can not enjoy or use from different parts of the country.

Remember, the product you start an e-commerce business with, the next time you decide to add the same product to expand the business or increase the product list.

Choose products that you can collect easily and at low transportation costs.

Plan to sell the selected product

Think about how the product can be sold;
Once the product is selected, get down to business immediately. Decide how you will present the product in front of everyone, what information and pictures of the product you will share on the website. Above all, make a note of how to apply your strategies.

Set a name for your e-commerce organization:

Choose beautiful and consistent names for the business;
You need a name for your organization. Choose a name that is attractive, beautiful, fluent and melodic, in keeping with the type of product you will be selling. By looking at the name of your organization, customers can get an idea of ​​what kind of products they can purchase when they visit this site.

Website building:

Customers will come to your e-commerce site website to purchase products. So you have to be aware and careful about its construction. First of all, on what platform will you build your website? You can use PHP technology. You can use different CMS such as Magento, OpenCart, Escort, OCommerce etc. or customized platforms like Laravel.

There are some disadvantages to using PHP technology, such as making difficult changes to the website in the future, and some security issues with PHP based websites. On the other hand, CMS or customized platforms are easy to change and do not have to worry about security issues.

Ensure website security;
So much for the back end. There are a few things you need to keep in mind to make your website more visually appealing and user friendly. First, use high quality images in every case on the website. Put the options of Manual Registration, Registration with Facebook and Registration with Google in the customer registration form. You just have to be more discriminating with the help you render toward other people.

Prepare the necessary legal documents to start an e-commerce business

1.Need to prepare legal documents;
Business legitimacy

2.As such, you must have a trade license. Also TIN, VAT these have to be done with document time.

3.Pricing the product

4.Determine the price of the product;

5.You need to set a price for the products that you will sell on your e-commerce site. The factors to consider when pricing a product are:

6.Transportation and storage charges will be added in case of raw material national products.

7.Retail price will be considered in case of wholesale products.

8.The price will be negotiable in case of collection of products from distributors.

9.Deciding on product delivery system

Product delivery;

Determine how you want to deliver a product, in what area and by what means. And depending on this delivery system you can tell the customer a time frame of product delivery. For example, for delivery of goods within Dhaka, you can enter into an agreement with an organization like your own transport system or send. And you can sign an agreement with SA Paribahan or Sundarbans Courier Service for delivery of goods outside Dhaka.

And in case of product delivery, you must have a tracking system. Then it will be very easy for you to transport.

Payment;

For customers purchasing products from e-commerce sites, you need to have both online and offline payment systems. You must use SSL Gateway to ensure the security of online payments. And you can have several types of offline payment systems such as - cash on delivery, card on delivery. The means of payment have to be differentiated between the customers, so that all types of customers can pay the price according to their convenience.

Keyword research:

You must research keywords to make your site known to everyone. Make a list of the types of keywords that customers search for the most. Now you can put a blog option on your site with these keywords. When you regularly publish content on a blog using keywords, your site will appear in the customer's search results.

Determining your target customer

When you are planning to start an e-commerce business, you need to determine the target customer for your site's products. Decide who you will sell your product to.

Branding:Branding is your commitment to the customer. The crowd of thousands of products or services depends on your branding and why customers will purchase products from your e-commerce site, presenting you as a symbol of a single entity and dependence among competitors. Branding also gives you an idea of ​​your business type and target customer. So do the branding properly.

Marketing

There is a saying "spread through propaganda". No matter how good quality products and excellent plans you start your business, if you don't market properly, the whole effort will die on the field. Customers can find out about your product through marketing. So do marketing through all possible means such as social media, paid ads on various websites, advertisements in newspapers, posters, leaflets, billboards etc.

Customer service

E-commerce businesses need to have a skilled team who will be smiling, always actively providing customer service. This is vital for e-commerce business. Since there is no opportunity to go directly to the store to see the product or discuss any problem directly, the customers have to inform the person in charge of the business organization through the customer care representatives. Customer care representatives act as a liaison between the organization and the customer.

Calculate effective budgeting:Effective and realistic budgeting is essential for the success of your e-commerce business plan. When you are planning the above steps one by one, write down the budgets along with it. How much do you need to invest in different sectors to start a business and also create a potential budget for the next three months of starting a business. This way you don't have to face investment problems right after starting the business, because you have a basic idea.

This article is about important informations, an e-commerce startup should know before planning to launch a business.