Countless Secrets of E-commerce Startups in 2024

Secrets of e-commerce startups are always secret. However, e-commerce sites are becoming popular day by day in the business sector of Bangladesh due to the availability of the internet and smartphones. An E-commerce business can be started with a website with low investment.

From housewives to lakhs of unemployed people can become successful e-commerce traders out of their tagline. Investment and strategy are interrelated with business. Today’s article is about the amazing secrets of e-commerce startups. It explains what an entrepreneur should do in starting an e-commerce business.

Market Research on Secrets of E-commerce Startups

Before starting the business first, you need to know about the movement of the market. For market research, the following points should be emphasized.

• Which product is in high demand in the market?
• Customer demand,
• What products do customers buy from e-commerce sites?
• What is the preferred delivery network as a customer?
• What are the flexible payment methods for customers?
• Product delivery duration
• The products that are sold on the e-commerce site,
• Where are they sourced from?
• How does inventory management work in an e-commerce business?
• Who is providing warranty or replacement facility by product, and how?
• In some cases, the customer may get a refund,
• What and how e-commerce merchants offer discounts or other benefits to customers,
• How others are designing the website through which the e-commerce business is gaining traction,
• Who are the competitors in e-commerce business in the market and their business principles,
• What kind of products are they selling on their site?

Which Product Do You Want To Start an E-commerce Business With?

You need to decide the target, and which products you want to start an e-commerce business. In this case, it is necessary to be a bit strategic. Do you know what are the secrets of an e-commerce startup with uncommon products? The success of your business depends to a large extent on defining the right product. Decide based on customer demand and product availability. Choose the product of your choice from the product categories of daily essentials, essentials, gift items, clothes, books-notebooks-pencils, etc. And if you want to take a slightly different approach, you can choose a product from the regionally famous products that we cannot enjoy or use from different parts of the country.

Remember, for the products you start your e-commerce business with, you may need to decide to add similar products later to expand your business or increase your product inventory.

Choose products that you can collect easily and with low transportation costs.

Plan The Sales Of The Selected Product

Once the product is selected, get down to planning. Decide how you will present the product, and what information and images of the product you will share on the website. Above all, make a note of how to implement your strategies.

Decide On A Name For Your E-commerce Company

Your organization needs a name for recognition. Choose a name that is catchy, beautiful, catchy, and catchy, keeping in line with the type of product you sell. By looking at your company name, customers can get an idea of what kind of products they can buy when they visit the site.

Build Website

Customers will visit your e-commerce website and purchase products. So you have to be aware and careful about its construction. You can design your website in any way but nobody tells you about the secrets of an e-commerce startup website. First of all, on which platform you will build your website. You can use PHP technology. Can use different CMS like Magento, Opencart, Xcart, OkCommerce, etc, or customized platforms like Laravel.

There are some disadvantages of using PHP technology, such as if any changes are to be made to the website in the future, it becomes difficult and there are some security issues in PHP-based websites. On the other hand, CMS or customized platforms are easy to change and do not have to worry about security issues.

So much for the back end. There are a few things you need to keep in mind to make your website visually appealing and user-friendly on the front end. First, use high-quality images everywhere on the website. Keep the option of manual registration, registration with Facebook, and registration with Google in the customer registration form. The process of purchasing products from your website should be simplified so that products can be purchased in just a few steps.

Necessary Legal Documents For E-commerce Business

You must have a trade license as a business license. It is the primary legal identity of an e-commerce business. Also, many more documents are required according to the scope of the business. Each country has different conditions and documents are prepared accordingly.

In the context of Bangladesh, if the organization is big, it may be necessary to register the company from the joint stock. Financial transactions are also subject to the rules and regulations of the relevant financial regulatory authority.

Also, tin, these documents should be done with time.

Pricing The Product

You need to set a price for the products you sell on your e-commerce site. Factors to be taken into consideration while pricing the product are-

• Transport and storage charges will be added in the case of raw material products.
• Retail prices will be considered for wholesale products.
• The price will be negotiable for procuring products from distributors.

Deciding On Product Delivery System

Decide how you want to deliver the product, to which area, and through which means. And depending on this delivery system you can give the customer a time frame for product delivery. For example, you can contract with your own transport system or an organization like Pathao to deliver goods within Dhaka. For product delivery outside of Dhaka, you can contract with SA Transport or Sundarban Courier Service.

And you must have a tracking system for product delivery. Then it will be very easy for you to track.

Finalize Payment Method and Security

You need to have both online and offline payment systems for customers to purchase products from e-commerce sites. You must use SSL Gateway to ensure the security of online payments. You can keep several types of offline payment systems like – Cash on Delivery, and Card on Delivery. Payment methods should be varied by customer so that all types of customers can pay according to their convenience.

Keyword Research

You must do keyword research to make your site known to everyone. Make a list of the keywords that customers search for the most. Now you can have a blog option on your site with these keywords. When you regularly publish blog content using keywords, your site will appear in customer search results.

Customer Service

An e-commerce business requires a skilled team who will provide customer service with a smile, always proactively. This is essential in the e-commerce business. Since there is no opportunity to visit the store directly to see the product or discuss any problem directly, customers have to inform the responsible persons of the business through the customer care representatives. Customer care representatives act as a link between the organization and the customer.

Effective Budgeting

Effective and realistic budgeting is essential to making your e-commerce business plan a success. As you plan the above steps one by one, write down budgets as well. How much do you need to invest in various sectors to start a business also prepare a possible budget for the next three months of starting the business. This way you don’t have to face the investment problem immediately after starting the business, because you have a basic idea.