eCommerce in India is increasing rapidly and a hence offline store is now being to shift in an online store. Traditional brick-and-mortar shop is replacing eCommerce webstore. When eCommerce is growing at a pace, then why doesn’t every offline store owner use online selling? Why don’t they go online to sell their products online? One major reason for it is “I want to sell my products online but don’t know how to sell online”. Yes, most of the retailers have the same problem. So, I decided to provide you with a complete guide for “How to Sell Your Products Online in Simple Steps in 2018”.
"Selling a product online allows you to reach a wider audience and new & potential customer base."
So, here I am listing the necessary steps which require first time to sell your products online.
- 1. Calculate your Budget and Margin
- 2. Identify your Target Customers
- 3. Decide what Product do you Want to sell
- 4. Create Digital Catalogue of products
- 5. Select or Create eCommerce store
- 6. Use trusted Inventory Management Software
- 7. Advertise and Market your Website
- 8. Partnership with Trusted Suppliers
- 9. Make your First Sale
- 10. Scale your Business
Really, online selling was never so easy as now it is.
After an overview, now let’s know in detail one-by-one step in a sequence. Here We Go:-
Step 1. Calculate your Budget and Margin:
You must have a look at starting to sell your products online. How much is your budget for the business? If you are the first time in the online selling, then I suggest you don’t estimate large sum in your business. You can invest more money time by time after when your business is running well.
Also, calculate how much you can get margin if you sell your products online. Make sure you can make margin in each of the products. Keep some points in mind that you may be over headed for some extra costs. Such as shipping cost, inventory and logistics partner cost, return and refund etc. So make sure you are prepared to take these actions.
Do the following maths calculation before starting to sell your products online to get the fair idea of different costs and profit margin. Here is a simple formula:
Profit margin = Selling price - (Sourcing cost + Packing & shipping cost + Transaction fees + Marketing cost + Hidden cost)
The importance of this formula is that,
- If you get the positive profit margin, then go ahead and start to sell your products online.
- If it is zero or negative, then think twice before starting to sell your products online.
But, don’t stop here. Change your strategies and some costs so that you can make at least some positive profit margin.
Step 2. Identify your Target Customers:
This step is very important for your goal to sell your products online. First, you have to decide your business model and the business in which you are going to deal. Hence, you should be knowledge of your targeted customers. Who are your potential customers? What is the age group of your audiences? Also, what is their behaviour and interest over the internet? What things they regularly search on the internet? These are the questions whose answers will be very beneficial for your business.
For this task, you can take help from some data management institutes or some survey companies. You can manually create a list of potential customers, but it may take some time from you.
This will help you to target your customers based on geographical region, their living standards and choices. When you will use email marketing tools to increase your sales, this information will help you to target the valuable customers. As a result, your conversion rate will be high.
Step 3. Decide what Product do you Want to sell:
Decide before sell, what do you want to sell. Always start your online store with niche or demanded products in the market. Make your own track, don’t rush like a fool. Be smart, take some time to the product study, decide what products can bring you new customers and hence you can make margin also.
Never try to list unbranded products on your store first time. Start with some loyal and branded products whose customer base is already in the market. It may be possible that you make less margin on the branded products, but it will give you a big profit in near future.
Avoid listing outdated products. Users always try to search latest trends and new arrival products on the internet. So, be clever and smart when deciding the products to sell online.
Step 4. Create Digital Catalogue of products:
After all above three steps, you go for next step, which is catalogue creation and product images. Create a product list in an excel sheet. After that, you can import this product list to any eCommerce marketplace or your own eCommerce website. So, make sure your list contains 3-4 good quality images of your product. Always try to use white background images.
Here are the contents which must be included in your excel sheet:
- Product code or SKU (Stock Keeping Unit)
- Name of the product
- Complete description
- Product category
- Selling price
- Discount / Offer
Step 5. Select or Create eCommerce store:
Oh yes. We are on the right track. It's time to make a partnership with any eCommerce company where you can list your products. Amazon, Flipkart, eBay, Myntra, etc eCommerce marketplaces offer this facility for you. Here I am also available to help you. Click the following link to sell your products online on different marketplaces:
You can build your own eCommerce website for your online selling. It’s not tough work to build an eCommerce website. The following things require to build a website are:
- Domain name
- Web hosting provider
- Payment gateway
- SSL certificate
For complete information to build an eCommerce website and its costs, you can kindly visit the below link. Where you can get A to Z about website building in easy steps.
Step 6. Use trusted Inventory Management Software:
An Inventory Management Software is a software that facilitates the Logistical Management of stocks and items. It is used to Track Inventory levels, sales processing, order processing, transportation, storing, assembly, dispatching and the delivery of the products.
Therefore, the IMS offers an advanced way to organize inventory information compared to spreadsheets or paperwork. This software is very beneficial for the businesses who deal with a huge number of products. Hence, it is also very helpful for small entrepreneurs and retailers who need a clearer review and more control over their product flow.
Step 7. Advertise and Market your Website:
After building the website and installing Inventory management software on your eCommerce website, you need now to go live. Let the people know about your website. Give some time to your website and make it visible to most of the audiences.
The success of any online store depends on the visibility of its eCommerce website in a large group of audience. You can use an organic method to promote your store but it takes a lot of time to get success. Hence, you have to get more audience in a less time, go for paid service where you can get more traffic to your website.
In the initial time, you need to hard work. Without knowing about your online store, how can you expect a new custom search you? Therefore, you must have some strategies and marketing plan to promote your online store on a large scale.
Step 8. Partnership with Trusted Suppliers:
Hurry! You have established your online store successfully. Everything is now ready to sell your products online. But one thing which is most important. Yes, it is the products which you have decided to sell online. What will you store all the products in your inventory before making sales? No, it is a bad idea to think so. Then what is a good idea? What do I want to say about the availability of your product?
I am very happy and excited to introduce Bigly for any time product availability in your online store. Yes, it is Bigly, India’s first B2b eCommerce platform where you can find thousands of suppliers. Actually, Bigly is a junction of thousand sellers and suppliers. So, Bigly has its own inventory and logistic partner to deliver the products on time directly to the customer doorstep. You don’t need to manage your own inventory. Bigly enables an Inventory-less business model.
Step 9. Make your First Sale:
Once your online store is ready to run, you can make your first sale. The first sale will be a milestone and it will give you an excitement. But before to find that amazing excitement, you need to work on the following ideas:
- Start sending email to your contacts
- Use Facebook and WhatsApp to sell among your family and friends
- Run Facebook Ads let the people know about your store
- Promote your store in different places, as Google
Step 10. Scale your Business:
I hope after the above steps, your online store is running well and you dreamt to sell your products online come true. Now, the time is to accelerate your business. Therefore, start to learn skills like SEO, improve your product content and searchability. So, that you can focus on operational efficiency, sustainable and fast growing business.
Have you tired of reading this long writing? I hope you didn’t.