Online businesses are growing exponentially. India’s eCommerce market is expected to cross Rs 2 Lakh crore in the year 2016. People can buy everything online now- from groceries to apparels, without leaving the comfort of their home.
What does this mean for your business? By deciding to set your online business, you can tap into those million dollars and bring your business in front of the shoppers browsing online.
So you have definitely made the right decision to set your online business. Let’s get started.
Develop an eCommerce Plan
The best way to start your online business involves a plan, similar to your business plan but more specifically focused on eCommerce. Your plan should meet business goals and address the core structure of major departments. It should take important considerations such as:
- Your Products/Services
- Your Target Audience
- Your Revenue Model
- Your Partners
Identify Website Structure
Imagine your home page as the front door of your home and start thinking from there. How will you display products? What information will you give? How you will provide customer service? And the most important, what will be the domain name of your business.
Design and Content are the most important contributing factor to your site’s success. Create your vision for the site’s overall navigation and presentation. Keep your site’s structure easy and seemingly fast.
Choose Payment Partner
Regardless of what you are selling, your customers expects you to provide a hassle free payment experience. Select a payment partner who will not only streamline the purchasing process for your customer but also provide an exceptional transactional security.
Keep your payment process as simple as you can. Give your customers the convenience to pay through multiple payment options. You can choose PayU as your payment processing partner as we at PayU believe in simplifying your payment process with the best payment solutions across online, offline and mobile segment.
Choose Shipping Partner:
Consider delivery and timeliness as important elements while selecting your shipping partner. Without researching the pro-cons of your shipping partner, you can end up with high shipping and handling costs that can affect overall revenue plan. Poorly packed and untimely shipping can also result in creating unhappy customers.
Strategize your Marketing Plan
Having a well thought site structure, quality design and creative content does nothing for your business, if you don’t strategize your marketing plan. You need potential visitors to come to your website.
Marketing opens a plethora of opportunities to increase reach, visibility, brand recognition and sales. With large customer base, easy-to-navigate interface and reasonable cost, marketing channels such Facebook, Twitter and Google can help your business grow with full potential. It also ensures that your budget is spent wisely while targeting specific group according to age, location and interests.
Create a knowledge pool
Few seconds. That’s all the time you have to inform your customers and keep them from leaving your site. A single screen shot should capture your business goals, products and services. Your product may be the best but you need to inform your customers the competitive differentiation in as clear and simple manner as you can.
Money-back guarantee, easy return and social media sharing, are some options that will further boost customer loyalty. Hence consider enhancing the entire buying experience by setting policies and keeping your customers well informed about it.