Yes! It’s time to go for it! Remember the online store you’ve thought about opening a while ago? There’s no better time to start than now. Creating your online store is never a problem, especially when many customized and accessible platforms allow you to set up an online easily. With established marketplaces such as Amazon and eBay, anybody can set up an online store these days. But before you start, take note of these 4 rookie E-commerce mistakes new online sellers make.
It’s okay to be excited about a new beginning, but you know what they say- to be forewarned is to be forearmed.
You’ve opened your E-commerce store with big dreams and ambition. But you might not realize your goals if you don’t understand how the E-commerce environment works.
Just as it is easy to open E-commerce stores, it’s also easy to overlook important details that can debar the success of your online business.
Running an e-commerce store is not rocket science, but it shouldn’t also cost you your hard-earned money.
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Ideally, the first thing you should do is to do thorough research. If possible, discuss with a few successful e-commerce entrepreneurs to give you some tips. Otherwise, you tend to make some of the e-commerce mistakes new online sellers make.
Generally, watch out for these mistakes when you are setting up your e-commerce shop.
#1. Not knowing where to find your customers
Most new sellers don’t know where to find their customers. They set up their e-commerce stores and rely on lucks to sell their products. Oops! Luck is not a business strategy and won’t get you sales.
Before you set up your e-commerce store, study the different platforms out there. And know the one that is perfect for your business.
For instance, It doesn’t make any business sense to sell industrial machines on Etsy that is populated mostly with handcraft goods and vintage. It would certainly be a wrong business move.
However, if you decide to sell hats and mittens on Etsy, you are well on your way to making extra cash. Therefore, before you decide to sell, do your homework and ensure that you are selling on the right platform.
#2. You Don’t Know the Lingo
Inability to communicate in the language your audience understands is one of the e-commerce mistakes new online sellers make.
Of course, it’s great that you have chosen a product to sell. And it’s even better when it’s a fantastic product that gives value. It’s awesome that you also have a business plan.
But Hold on!!! Don’t get too excited because you are still missing something.
Whichever way you may think of it, your product has segmented you into a niche. For instance, if you are selling survival kits, then you are in the emergency preparedness niche. And if you sell shoes and clothes, you are in the fashion niche.
Now that you’ve figured out the niche you belong to, it’s time to also do a little research about some common terms people use in that niche.
In addition, you might think d a quick search through online marketplace guidelines would help. But it even compounds the problem as they tend to confuse users with new terms they can’t relate with.
An example is the several acronyms used to describe product identification numbers that are required to ensure that your product would appear more in search results online.
Understanding the difference between a UPC (Universal Product Code), a GTIN (Global Trade Item Number), and an ASIN (Amazon Standard Identification Number) can be confusing.
ASINs are specific product identifies for the Amazon platform alone, while GTINs are used globally across numerous platforms that are encoded with UPC barcodes.
You can avoid this mistake by consulting an e-commerce specialist glossaries. It will help you prevent errors from the start and demystify the jargon.
#3. Reinventing the Wheel
As a new e-commerce brand, you must have heard that being unique helps you sell your product faster. That is true. But don’t get distracted. It’s one of the e-commerce mistakes new online sellers make.
Many new e-commerce brands attempt to create solutions for everything. But it’s always counterproductive.
Guess what? You don’t need it. So, you shouldn’t be wasting your resources on developing custom solutions for your client’s problem. The only condition you can do this is when the customization significantly impacts your unique selling point and branding.
Moreso, you should avoid putting up your e-commerce store yourself unless that is the unique selling point of your brand.
Use existing e-commerce platforms like Magneto, Shopify, and Amazon. Surprisingly, customers are looking for a similar design, navigational elements, and shopping experience. And it applies to every other piece of your business.
So, focus your energy on the main differences between you and your competitors instead.
#4. You Keep Settling for Low Average Orders
Settling for low average orders is one of the worst e-commerce mistakes new online sellers make. It could affect the quality of customers visiting your store.
So, focus exclusively on fueling your sales funnel, convincing existing customers to buy more, and improving customer’s trust.
Increasing your average order value (AOV) will increase the profitability of your e-commerce store. To boost sales, offer product recommendations, upsell, cross-sell, set order minimums, and bundle products.
Furthermore, try to engage customers who are already buying from you. It’s easier to convince an audience who is already buying from you than to cold email a potential client who knows nothing about your product.
