Step-by-Step Guide to Starting eCommerce

Join Andriy Boychuk's journey to start an eCommerce business, covering niche, platform, sourcing, legal tips, and Vira's market insights.

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Should you start small?

Testing the market with minimal investment can validate your business idea.

I'm not a big believer that you need to invest $100,000 to start a business... invest either $500 or $2,000 to check how it works.

Takeaway:
  • Launch small to reduce risk and gather feedback.
  • Adjust your offerings based on initial customer responses.
  • Scale up once you have proof of concept.

What role does SEO play?

SEO is a critical component for driving organic traffic to your ecommerce site.

But another thing that in parallel I will be investing in SEO creating content as well as collecting emails.

Takeaway:
  • Implement SEO strategies to improve search rankings.
  • Create valuable content to attract and engage customers.
  • Integrate SEO efforts with email marketing for better results.

How important is market research?

Conducting thorough market research helps identify opportunities and avoid pitfalls.

Once you understand the big picture, once you understand the niche you want to go into, you can start looking into competitors.

Takeaway:
  • Analyze competitors to differentiate your offerings.
  • Use tools like Google Trends and keyword research.
  • Understand customer needs through reviews and feedback.

Why build your own website?

Owning your ecommerce platform gives you control over your brand and customer experience.

You need to invest in your brand because it will take you longer to develop your store. You need to build a website right away... you own and then start selling on Etsy or Amazon.

Takeaway:
  • Having your own website establishes your brand presence.
  • It allows you to collect customer data for email marketing.
  • Diversifying sales channels reduces dependency on marketplaces.

How to measure ecommerce success?

Setting clear KPIs is essential to track progress and make informed decisions.

It's measuring score... you need to put some kind of KPIs. Do you want to sell three things per day or 33 things per month? What is your success?

Takeaway:
  • Define specific, measurable goals for your business.
  • Use KPIs to evaluate performance and adjust strategies.
  • Regularly review and update KPIs as your business grows.

Why prioritize customer service?

Providing exceptional customer service enhances customer satisfaction and loyalty.

I'll probably have dedicated person because I'm against AI... I personally hate that like, 'Oh this is the chat and like does this answer help you? Like? No, can I connect to the human being?'

Takeaway:
  • Personalized support can differentiate your brand from competitors.
  • Customers appreciate human interaction over automated responses.
  • Investing in customer service can lead to repeat business.

Is influencer marketing effective?

Leveraging influencer marketing can boost product awareness and sales, especially in the skincare industry.

Because when you enter the new market and nobody knows you, how can you buy the big tube of cream or whatever? If influencers recommend me to do that.

Takeaway:
  • Influencers can build trust and credibility for new products.
  • Collaborate with micro-influencers for cost-effective promotion.
  • Influencer endorsements can drive significant sales in beauty products.

Why hire agencies for marketing?

Partnering with the right agencies can shortcut the learning curve in marketing.

I personally am a big believer in finding the right agency, because I know that if I started doing everything myself, I'll do a lot of mistakes. So it's just cheaper to find an agency.

Takeaway:
  • Agencies bring expertise that can save time and reduce errors.
  • Investing in professional help can be more cost-effective in the long run.
  • Focus on your strengths and outsource specialized tasks.

How to choose marketing channels?

Selecting the right marketing channels is crucial when starting an ecommerce business on a tight budget.

As I said before, I'm trying to do this extremely low cost. So first would be Etsy marketing... But another thing that in parallel I will be investing in SEO creating content as well as collecting emails.

Takeaway:
  • Utilize marketplace marketing tools where your products are listed.
  • Invest in SEO and content creation to drive organic traffic.
  • Build an email list for direct communication with customers.

Why use email marketing early?

Starting a new ecommerce business with limited resources requires cost-effective marketing strategies.

But another thing that in parallel I will be investing in SEO creating content as well as collecting emails. So email marketing.

Takeaway:
  • Collecting emails from the beginning builds a valuable customer base.
  • Email marketing is a low-cost way to promote products for startups with limited budgets.
  • Focusing on SEO and content creation complements email marketing efforts.

Episode Info:

Title:
How to Start an eCommerce Business
Episode Link:
Keywords:
eCommerce, startup, market research
Episode Air Date:
February 20, 2024

Podcast info:

Show Name:
Email Einstein
Author:
Vira Sadlak and Andriy Boychuk
Owner:
Vira Sadlak and Andriy Boychuk
Category:
Business

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