When most people think about starting an e-commerce business.
They have a vision of selling some amazing product that will enable them the freedom to work on something they truly enjoy.
But despite early enthusiasm, sometimes they end up not taking action.
Feasibility study Of e-commerce business
We know very well that everyone has an idea and can go away tomorrow morning.
But to become a project you must turn it into a realistic implementation.
You need to answer these questions to study the feasibility of the project as follows:
Who Are the People You Will Serve?
Keep in mind the culture, lifestyle
How Much Do You Know about the Product?
Just because a business is in trend, doesn’t mean that you can succeed at it. Your knowledge of the product at hand is what holds the key to success.
The importance of product knowledge becomes more apparent when it comes to enhancing the customer experience.
Without any product knowledge and usage experience, the best you can do is offer a me-too product, which in no way can guarantee you the success.
Are the Resources Required to Facilitate the Service Easily Accessible?
This brings up the need to consider one important factor – ‘which fulfillment channel will you choose to provide your service?’
For example, for an e-commerce store – Is a responsive website enough, or should you also offer a mobile app for shopping?
Or, should you build up your own delivery system, or should you partner with a third party delivery service provider?
How long it takes to get started?
Luckily for prospective online startups, the timing concern is partially addressed by e
However, it is important to note that every e-commerce platform is built to address a certain set of business goals & needs.
Therefore, first, it is important to determine which e-commerce platform is best for your business.
How much does it cost to start an e-commerce business?
There are pretty good chances that you will underestimate the cumulative business setup cost.
As in most cases what business owners consider are only development and operational costs.
Permit & licensing, registration with a tax authority, brand development, marketing, hiring employees, etc.
Are some other mandatory expenditure that you must take into account while deciding the budget for your venture.
Now that you know a few questions about the feasibility study, we go deeper into the concept of e-commerce
what is e-commerce business?
e-commerce (electronic commerce) is the buying and selling of goods and services online.
beginnings of e-commerce can be traced to the
Type of e-commerce:
Type of e-commerce is under two sections
That means you will buy something you can touch it as (clothes, Food, accessories,etc..)
It’s mean you will not touch it but serve you as (insurance, games, hosting, etc..).
How does e-commerce works?
e-commerce is the same store located in a building next to you, but it varies as it is digital and some procedures differ.
The basics of sale vary from store to another store, but mostly customer starts ordering of
After that handling to
Finally collecting and make pick up request to the shipping company for delivery, and make sure is deliver it .
What do I need to start an e-commerce business?
First, get to know what you need and put the feasibility study to see the costs as we talked above.
To start an integrated store you must be ready and connected in these fields:
You need a developer who manages the Store programming as you want it to appear.
also longing for the future or if you are developer you will low cost for your project.
For the appearance of your product on the Internet you must host on one of the servers that provide you with monthly or annual rent service.
From long experience in these fields, I advise you to choose the right company.
Does not have a persistent malfunction and have technical support throughout the 24/7, and updated and supportive software.
Keep in mind that the customer needs more than one way to facilitate the payment order to purchases.
This distinguishes e-commerce is that you buy while in your business or in your home or anywhere else.
Choose a payment company that provides you with network services that support the all most credit card and reporting to you.
also, do not forget to contract with shipping companies that provide you Cash on delivery services (COD).
Domestic or international shipping:
Here you specify your desire according to the market you focus on.
Contracting with a shipping company is beautiful, but it is more beautiful you recognize a shipping company.
That not waste your shipments and do not angry your customers.
Customer does not look at the shipping company in the period of delivery, but you are considered late.
Find the right company that delivers customer shipments in record time without damage shipments.
You need to put the sales policy in your store according to e-
In addition to the terms of the return if there are no terms of the store you will find yourself in a spiral of problems that will not come out of them.
Putting policies to protect the store and protect the rights of the buyer is Also establish the work procedures you undertake.
Display and information of products:
let say that most important elements that are important are the professionalism of the product display.
You can be shoot in the normal mobile, but the importance of professional photography products attract the customer to see the details of the product through pictures and information clearly.
When I see unclear product images or missing information, it is normal to close the page and look for a similar product
“Always remember the power of display is the first key to buy”
Adding features on the site for the speed of response from customers is very important.
To answer their questions and also solve their problems with orders, it is supposed to provide property “Frequently Asked Questions”
“It is a information disk in your store”
Advantages of e-commerce:
This is true e-commerce is reduced by saving the burden of expenses that straining the project from spending.
For example, you are not paying salaries for a salesman, or renting a huge store, water costs, or even expensive electricity costs.
Become using the Internet:
Believe it or not, there is an annual increase for Internet users and this transformation is the need for the presence of e-commerce.
That meets their needs of the public and when you are presenting your product target them.
Multiple marketing channels:
These days, there are many social media platforms provide ads methods are more popular than before.
You can offer a product through search engines or by viewing a video on YouTube, but you need to plan for strategies that are good for ROI on the marketing campaign.
Building your Business Organically with Content:
When you are able to build strong content that is relevant to your products, and you are as a giant tower visited by the audience to see it that great job.
Successful companies not only focus on the presentation of the product but looking at the content that has to do with their specialty.
Ready for high process number of Orders:
e-commerce with its software ready to receive a large number of orders within one minute can be done.
If by the cashier on the counter can`t dot it, that means if you have big strong promotion broken the amazing record of sales
We know what are some of the advantages of e-commerce if there are advantages, certainly there are disadvantages and it is important to know what is disadvantages
Disadvantages of e-commerce:
Can`t selling if an e-commerce crash:
As we said earlier you need the developer in order to avoid the stop of the e-store from working.
when searching a particular product and access to the site and a message appears error causing the customer to exit, you need to follow-up and periodic maintenance of it to avoid malfunction
You may need more inventory management to control the flow of products, numbering and classification in the shelves.
to make sure the safety of entry until the exit to the customer, may require more space later,
But some of e-commerce owners resort to shipping companies from rented space if the costs are good with them.
Customers Can’t Try Before They Buy:
Here depends on the experience of the customer in the purchase of the Internet.
There are many do not face a problem at this point, but some do not want to try the product before buying.
Its not a big problem can be found solutions Some e-commerce provide test products or there is
Yes, if we say that ten years ago it`s not same now, many e-commerce has become widespread on the Internet.
The survival of the strongest appearing in social media and search engines with strategist of digital marketing.
There are no Impatient from customers:
Customers expect to receive their products as quickly as possible and intensified competition is currently the speed of delivery.
For example, amazon delivery within 1-2 days your order to the door of a house inside
you must put in the delivery times and do not tolerate them because when violating the customer will not back to you again.
Before I conclude this article I would like to tell you it does not easily the work of e-commerce business.you need to plan and know the market well.
Start planning the workflow mode that best suits your specialty. Use the appropriate software and don’t waste your money in the software that requires more costs.
Set your goals and map your project for at least five years for the future.
I wish you success in e-commerce.
Are you thinking of opening e-commerce?
Do you have e-commerce currently? What are you facing problems? Share us your experience