Let’s give you a little secret — e-commerce isn’t going anywhere. As a matter of fact, 2020 data shows that the total number of businesses engaged in e-commerce activities in Bangladesh increased by 700 percent compared to the previous year. However, within a month, 0.75 percent of internet users visit an online store in Bangladesh, and 6.25 percent purchase a product or service. Why shouldn’t they? It’s not hard to understand why so many shoppers turn to e-commerce options when you can browse products from your comfy bed, buy them with one click and have them shipped instantly (and sometimes for free). That’s why you need to sell online. If you really want to sell your products online, have a solid e-commerce site. you need
If you’re a small business owner or an entrepreneur competing with millions of retailers around the world, you need to sell online.
Whether you’re just starting out or have a physical store, you can sell your products online to take your business to the next level. Not sure how to open an online shop in Bangladesh? We are here to assist you. In this comprehensive guide to successful e-commerce, we’ll cover everything you need to know, from the tools you need to start selling online, to measuring your success once you’ve got your e-commerce site up and running.
1. First of all, determine the products you want to sell on the internet
The first step may sound a little obvious, but you need to think carefully about the types of products that will sell well online. There is a wide range of products to choose from, from new or used products to digital services and products.
If you already have a business, the process of choosing products to sell online may be easier for you. You likely already have a passion for the products, goods, or services your business sells, so making a decision becomes much easier.
However, if you’re not sure where to start, you need to consider what types of products are suitable for selling online right now or what is selling well. What are the trending products right now? Are there any special occasions or events that will help you market your products? Do your products or services offer a solution to a problem?
2. Check if there is a market for the products you want to sell
After thinking about the products or services you want to sell on the Internet, you need to check whether these products have a place in the market. You can use online market research tools for this.
For example, Google Trends can provide useful information about the general relevance of an idea or product in a particular region. Google Trends is a very helpful tool if you need to know what people are searching for.
3. Get a business license and prepare a business plan
Do you need a business license to run an online store and sell online? Maybe. As with most things in today’s world, there are certain conditions. Your location may affect the type of license you need, but there is a general rule that you need to know, which is that you need a license even if you are selling from your home. Do your due diligence and check your local regulations before you start avoiding costly disruptions in the future.
Even if you already have a physical store, you will need to create a business plan to start selling online. When it comes to opening an online store, you have to be prepared because there is a different market out there. A few things to keep in mind as you move forward:
Identify your target customers. Identifying their target audience is an important part of opening an online store for entrepreneurs who still haven’t built a customer base. Who are your ideal customers? It is important to give as much detail as possible here. Women over 20? Middle-class men, who love extreme sports?
Trying to appeal to a very broad audience won’t help you much — identify the characteristics you want in your ideal customers and act accordingly.
Set a start date. Set yourself a goal for the launch of your online store. Then, complete a timeline retrospectively of the tasks you need to get done before the big day comes. As a small business owner, your plate is already full — being organized is essential to getting your online venture started smoothly.
Identify your reason for doing this job. “To make money” is the obvious answer, but why would you want to sell online? What will push you to keep going as the stress of owning your own business becomes harder to deal with? Author and marketing consultant Simon Sinek explains this well in his TED talk :
“People don’t buy what you do; They’re buying the reason you’re doing it.”
If you don’t know why you’re in this business, your customers don’t either. This makes it harder for you to sell. Determine your “ unique selling proposition ” from the very beginning.
Financial forecasts. On the slightly more technical side of things, you have to deal with your financial data as well. If you’re a new venture, you won’t have much data, to begin with, but you should still make predictions and set goals for your future earnings. Prepare for the future by preparing and keeping up-to-date documents such as a sales document, cash flow statement, and budget analysis.
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Register a domain name for your business
This step may seem obvious since we’re talking about selling online, but there are some tips and tricks you can use when it comes to starting an online business.
First, you need to choose a domain name. Generally speaking, you should choose a domain name that is easy to write, short, memorable, and preferably contains keywords relevant to your business and/or a specific location (e.g. PizzaKadikoy.com). Spend some time finding different options, then share and get ideas from friends and family to test which ones sound good.
While .com domain extensions are the most well-known, don’t limit yourself to .com extensions at the expense of your name.
There are now many new domain extensions that are perfect for e-commerce. With options such as .shop and .store, you can immediately indicate that you have shopping opportunities on your website. So your customers can immediately grasp the purpose of your site. The faster you stand out (and be memorable) in the crowd of the internet, the better. To sell online, you need to stand out.