Ecommerce starter pack

You have the product, you have built the infrastructure, now you need to market and sell it to the world. So where do you start?

E-commerce can be a powerful tool for expanding your reach and growing your customer base. But how can you get going? Whether you are an established brand or just an entrepreneur with a dream, you will need to start somewhere. In this post, we'll provide you with a blueprint for creating your platform to use e-commerce to sell your product for the first time.

MVP

The first step in creating an e-commerce presence is to develop a minimum viable product (MVP). An MVP is a basic version of your product that allows you to test the market and gather feedback from customers. It should have the essential features needed to make a sale, but it doesn't need to be perfect.

Creating an MVP helps you get your product to market quickly, with minimal investment. By testing the market with an MVP, you can determine whether there is a demand for your product before investing more money in development. Creating an MVP allows you to start generating revenue while you continue to refine and improve your product.
An example of an MVP suite of services would be:

1.      Product pages with clear product descriptions, images, and pricing information

2.      Shopping cart functionality and the ability to checkout with a credit card or other payment options

3.      User account creation and management

4.      Integration with shipping providers to calculate shipping costs and generate shipping labels

5.      Basic analytics to track website traffic, sales, and customer behavior

Go-to-Market Strategy

Your go-to-market strategy is your plan for introducing your product to potential customers. This strategy should include a target market analysis, pricing strategy, marketing channels, and distribution channels. Understanding your target market will help you tailor your marketing efforts to reach the right audience. Your pricing strategy should take into account your costs, competition, and customer demand. Your marketing and distribution channels should be selected based on your target market and the type of product you are selling.

A go-to-market strategy helps you focus your efforts on the most promising sales channels, while a marketing campaign drives traffic to your website and generates sales. Some of the necessary steps would be:

1.      Define your target audience and develop buyer personas.

2.      Develop a brand identity, including a logo and branding guidelines that will be used across all marketing materials.

3.      Launch social media profiles and begin developing content to promote your product.

4.      Invest in paid advertising through social media, Google AdWords, or other online advertising channels.

5.      Leverage email marketing to promote sales, offer discounts, and drive traffic to your e-commerce store.

6.      Consider offering a referral program to incentivize your existing customers to bring in new business.

Marketing Campaign

Your marketing campaign should include a range of tactics that will drive traffic to your website and generate sales. This can include social media advertising, email marketing, content marketing, influencer marketing, and search engine optimization.

Each of these tactics has its own benefits and drawbacks, and the best approach will depend on your target market and product. Some of the most basic activities may include:

1.      Develop a launch plan to coincide with your e-commerce store's opening.

2.      Promote your launch on social media, blogs, and any other relevant online channels.

3.      Offer discounts to early customers to incentivize initial sales.

4.      Create an email campaign to reach out to potential customers and encourage them to visit your store.

5.      Utilize search engine optimization (SEO) to increase the visibility of your store on search engines.

6.      Implement retargeting campaigns to bring back visitors who didn't convert.

KPIs to Consider

Key performance indicators (KPIs) are metrics that you can use to measure the success of your e-commerce business. Some common KPIs include conversion rate, customer acquisition cost, average order value, and customer lifetime value.

By tracking these metrics, you can determine which tactics are working and which ones need to be adjusted. KPIs give you insights into the performance of your e-commerce business, allowing you to optimize your approach and maximize your return on investment. There is an endless number of meaningful data points to consider but they will likely include the some variation of the following:

1.      Sales and Revenue: Monitor your e-commerce store's sales and revenue to track the overall success of your business.

2.      Conversion Rates: Track the number of visitors to your site who convert to customers.

3.      Average Order Value (AOV): Monitor your AOV to ensure that your store is generating sufficient revenue per sale.

4.      Customer Acquisition Cost (CAC): Calculate the cost of acquiring new customers to ensure that your marketing strategy is cost-effective.

5.      Website Traffic: Monitor your website traffic to understand how visitors are finding your site and how you can improve your SEO and other marketing efforts.

6.      Customer Lifetime Value (CLTV): Track your CLTV to understand the long-term profitability of your business and determine how to maximize customer retention.

E-commerce can be a powerful tool for growing your business. In fact, it has become table stakes for most consumer goods. Follow these steps and you will be well on your way to bringing your product to a whole new global market.