One of the main reasons for those who create an online store is to make money. Of course, in addition to this, there may be other purposes such as helping a cause through the products the store sells. However, a store only maintains itself and lasts over time if it is profitable.
A study carried out by Neotrust showed that in the first quarter of 2024 alone, e-commerce sales grew 12.59%, data that highlights how online shopping is on the rise in Brazil.
Therefore, the data indicates that it is promising to invest in this market, but it is worth highlighting that a lot of planning, resilience, and patience is required.
Therefore, we prepared this article with six tips to help you where to start to achieve success with your online store. Okay, let’s go.
What is needed to start an online store?
First thing, you need to define what type of solution the product you are interested in selling brings to customers.
For example, a construction company solves the pain of owning a home, as the client stops paying rent and goes to live in their own property.
Therefore, understand the type of pain that your business will solve for the target audience, that is, what benefits your product brings, this is what will guide all communication and the store’s approach. Once you have this information, it becomes much easier to structure the brand’s points of contact with customers.
In this logic, the website is also like the heart of e-commerce, so it must be designed for easy navigation and intuitive for the user, the information necessary to make a purchase must be easy to access and view.
However, an online store is a company and goes far beyond just its website. That is why it is essential to plan all the important points before starting the operation. Check out:
Planning
For your best organization, put all your ideas on paper. This way it is easier to visualize what you will need to do:
- Store name
- Visual identity
- CNPJ
- E-commerce platform
- Product suppliers
- Logistics
- Marketing
- E-commerce consultancy
- Fixed costs
- Working capital
Knowledge
Today in the market, there is no degree where you can study and become an e-commerce manager. However, the main point for working in the area is interest and knowledge about sales. Look here:
- Understand the sector you are entering
- Study the competition
- Master the product
- Monitor the market
- Analyze the target audience profile
- Know digital marketing techniques
In this regard, it is possible to seek knowledge through free and paid courses, books, magazines, websites, and blogs as well. If you have a spare budget, hiring a consultancy team is an excellent option, and should be seen as an investment and not a cost.
But how to make money with an online store?
Like everything on the internet, there is no magic formula or cake recipe for making money with an online store. However, with enough commitment and dedication, the chances of your business taking off are huge. And to help you in this endeavor, we have brought below six essential tips for success. Check out:
1. E-commerce platform
Do a lot of research and choose a good e-commerce platform. This is a very important choice, as it is what will be responsible for bringing greater ease to your daily life.
Take a careful look at the features offered, the integrations, and everything else that is relevant to your business.
2. Niche market
Defining the market niche you want to operate in is also a super important step. It is from this choice that you will define the area of activity of the business, and having this well-defined and certain is a great strategy, as your business is positioned to meet the demands of a specific audience, thus mitigating possible errors.
Now with your niche already defined, you can make more assertive decisions and monitor competitors. Currently, some niches are standing out, they are:
- Handmade products, such as soaps and scented candles;
- Pet shop with biscuits and accessories options;
- Alternative foods, such as fitness cakes and supplements;
- Clothing, especially thrift stores and women’s fashion.
3. Analysis of the competition
Being aware of the competition and what they are doing should be part of your routine, as you are competing for the same share of the audience. Your analysis must be careful and in-depth, as from it you will be able to derive several insights for your strategies and to stand out.
In this analysis, some steps are essential:
- Having defined your competition: map the companies in your market niche;
- Decide your points of analysis, that is, establish what will be observed;
- Determine your research method: how you will collect, organize, and analyze data.
4. Payment and shipping methods
Payment and shipping methods are another extremely important point, as these are often the reasons why customers abandon the cart before completing the purchase.
In terms of freight and shipping, it is recommended to offer options for carriers and couriers, making the cost more affordable and giving the consumer the option to choose.
In view of this, payment methods must be diversified, offering options such as credit cards, and bank slips, pix, thus again giving the consumer the chance to choose which method works best.
5. Provide good customer service
Good customer service is a factor that not only influences the consumer’s purchasing decision but also determines their loyalty. Therefore, offering a good shopping experience with effective service should be your daily philosophy.
Building a trusting relationship with your customers and potential customers is the basis for increasingly attracting customers and retaining old ones. Pay attention to after-sales, always being helpful and resolving problems.
Through a satisfaction survey, for example, it will be easier to visualize your success points and also those for improvement.
6. Invest in digital marketing
Social networks, blogs, and digital influencers have become part of companies’ daily lives due to their ability to build loyalty and attract customers, and generate relationships, and purchases, among others. So, now that everything is in order, it’s time to think about your store’s advertising strategy so that people start to get to know you and make them buy.
To get started, you can create an Instagram Business account and promote your products and the link to your online store. Along with this, try to create relevant content for your target audience that shows your product as a solution to users’ needs.
Use and abuse the creatives, videos, and trends of the moment, you must speak your audience’s language something to generate identification.
Extra tip: Invest in reviews
The importance of reviews is directly linked to consumer confidence and purchasing decisions. According to Nielsen data, 92% of consumers trust reviews made by other consumers more, compared to advertisements and sponsored ads. What’s more, 95% of them are in the habit of analyzing reviews before making a purchasing decision.
Reviews in e-commerce not only prove the quality of products, but also generate social proof, and this strategy, in addition to increasing sales and customer satisfaction, also helps to resolve possible doubts at the time of purchase.
Increase your conversion rate and promote your online reputation with the most complete solution for collecting and displaying true reviews, Trustvox RA.
RA Trustvox is a solution from Reclame AQUI, the largest reputation, trust, and purchasing research portal in Latin America.
Now that you know how to make money with an online store, it’s easier to safely get your ideas off the ground. So, did you like this content?
