Tuesday, 5 June 2018

How to make money through E-Commerce.

What is E-commerce?

E-commerce refers to any type of business conducted online. The most popular example of eCommerce is online shopping, which is defined as buying and selling of goods via the internet on any device.

E-commerce is the fastest growing retail market and it is estimated to reach over $4 trillion in sales in 2020.

E-commerce is a fairly simple yet profitable method of making money online and this guide will focus on creating an online store using Shopify to sell products.

Marketing: Leverage the Power of Social Media

Now your store is up and running, next you need to let people know about your new business! Social media can be a powerful marketing tool once you know how to use it.

Facebook Adverts

To run a Facebook Ad campaign you will first need to setup a FB page for your business and run two adverts, one to advertise your Facebook page and one to link back to your store.
Example of a Facebook Advert for Casper’s online store

Set a budget of $6 — $10 a day depending on how much you are willing to spend but make sure you set a maximum budget of £50 — $100 in total.

Regarding content on your FB page, post relevent content to the niche you are selling in, for example if you are selling fitness products, post articles related to fitness to keep your audience engaged.

The aim of your Facebook page is to attract interest so stick with engaging, interesting and even funny content as long as it is related to the niche your product is selling in.

Instagram Marketing

Remember the Instagram example I mentioned earlier? Well now you can contact the popular Instagram influencers yourself and ask them if they are willing to promote your products for you.

Bare in mind that the larger following the influencer has, the more they will expect you to pay, the smaller and less well known influencers might even do some promotions for free to get them started but I rely on free promotions as a strategy.

Check how many followers the influencer has and offer to pay $25 — $50 to influencers who have 100,000–250,000 followers.

You can even contact Instagrammers with less than 100,0000 followers (i.e 60,000–90,000) but do not offer more than $25 for promotions from them.

Once you have found your chosen Instagrammer, send them a DM and get negotiating!

Marketing: Customer Targeting

When targeting your customers it is best to be specific, this goes for FB ads and social media pages.

If you are selling fitness watches, target people who are active and going to the gym regularly, if you are selling diet forumulas then target people who are trying to lose weight.

When running your adverts it is good to choose big cities (for example Los Angeles and New York if you are targeting US customers and London or Birmingham if you are targeting UK based customers).

Wrapping Up

So to sum everything up:

  • Research potential products using Amazon and list 20 of your favourite products
  • Build your online store with Shopify
  • Use the Oberlo plugin or source products using Alibaba.
  • Setup your payment processor
  • Market your store using Facebook and Instagram.

Finally do not forget to reinvest your profits, as your business grows, demand will grow so you need to put your money back into your business to cater to the influx of new customers.

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