6 things to consider before launching an e-commerce website (2024)

6 things to keep an eye on before launching your e-commerce website

In today’s article, we will give attention to 6 things to consider before launching an e-commerce website. So, let’s dive right in.

Research your niche

The first thing you need to do before launching your dream e-commerce store is to carry out market research on your niche and know the level of competition it holds. You don’t want to jump headfirst into battle with the big guns of your business niche. That can be very risky and is not advisable, especially if you are a newbie. Aiming straight for the top shots might kill the dream of your successful e-commerce store even before its first step. So advisably, take baby steps, find a niche with low competition, and begin gradually.

For example, if you want to run a jewelry store, don’t spend every dollar you’ve got to start selling everything from the biggest neck chains to the most expensive wristwatches. That is like gambling on the market – it may work out. But the problem is if it doesn’t, you might go bankrupt.

That’s not advisable. It’s much better to focus on specific demographics or needs, such as simple bracelets for 40+ me or necklaces for young women. That would be much easier to sell. The point is to research your niche. Then, you would promote and sell your products easier in a business niche with low competition.

Know your competition

Before having your e-commerce website up and running, you must analyze and know who the competition in your niche of business is and what they’re doing. So first, you need to look at your competitor’s website and see what products or services they offer and the best payment method they use. Then, if possible, know their marketing strategy and see how they convert potential leads to sales. You can use tools such as Ahrefs, SEMrush, and Adspy to research your competitors.

Knowing the competition in your line of business is necessary for you as an e-commerce business owner. When you know who your competitors are, what they are doing, when and where they are doing it, and how they are doing it, you can create a better way to run your own business and beat the competition.

Understand your potential customers

This step is crucial. Run an expert analysis if need be. Whatever method you use, you need to know who the particular group or set of people that your potential customers are and the type of preferences they have. Thanks to social media and the internet, you can find information even from the comfort of your home.

So dig in, and pay attention to everything; the age grade of your potential audience, gender, level of income, ethnicity, and even their education. You need to understand your potential customer’s behavior and method of shopping: How often do they shop? How do they begin their search for a particular product that they want? Do they sort out bigger e-commerce stores first, or do they use search engines to look for products they want to buy? How long does it take them to decide and purchase a product?

You see, this step is vital. Once you can tell who your customers are, what they want, and how they get it, and then make sure that your e-commerce store can fulfill such needs, it can be rewarding.

Pricing strategy

Gone are the days when people went from one store to another to compare the prices of a particular product from different vendors before buying. 

That approach to pricing no longer tickles the fancy of most customers. I mean, why go from one store to another to know the value of a product when you can use the internet? With just a couple of clicks, a customer can tell the worth of a product.

That is why you need to be cautious in selecting your pricing strategy. If your e-commerce store offers run-of-the-mill goods and services, make sure you put the prices at the lowest point possible for gain. Or if you can’t twitch your price, offer a bonus such as free delivery. Your aim should be to make sales and achieve customer satisfaction so your customers can return. You can price higher if you can position your brand as exclusive or premium.

Business registration and liability protection

You must have your contact information on your e-commerce store to gain trust. Decide on the contact information you provide your customers with before you launch. And having just one email or phone number is no longer enough in the world of business today – it’s the 21st century. You should not just have phone numbers and emails. Have links to your social media as well. Social media controls most of the world today and can be a valuable tool, especially if you already have positive word of mouth on social media. It will make your marketing easy, and the transition of your potential customers from leads to actual buyers will be smooth. Your customers need to know if your e-commerce business is registered. Certain benefits come with registering as an LLC;

• Firstly, you gain a reputation with customers as they now see your business has legal backing.
• You also gain legal liability protection, which means you won’t be held accountable for inevitable accidents and other liabilities.
• Thirdly, you are sure of continuity. If your business is a registered LLC, even if you’re impaired or dead, your business will continue, especially when you already have the right system established
  

Finally, you need to include a return policy on your e-commerce website. There is a feeling of security that comes with a return policy. Most customers will patronize your company if they are sure to get their money back should anything go wrong. So, you need to have a return policy, and you need to implement it as well. A return policy will give your customers confidence when using your web store.

Payment method and shipping

If there is a fee for delivering your products to your customers, you need to state it clearly. Your customers should understand the delivery time and how much it will cost them to have a product shipped to them before they make their payment. Your payment method has to be convenient and satisfactory to you and your client. So you need to put in the best there is. In today’s world, for example, card payments are no longer all there is when it comes to an easy payment method.

Furthermore, we now have PayPal, virtual bank accounts, and even bitcoin. So, you should have these methods of payment integrated into your e-commerce store, as they can be convenient for your customers.

Conclusion

There you have it – these are the things to consider before launching an e-commerce website. Of course, these are not the only points to consider. However, these six are essential, and if you assess and implement them, you are good to go, and your online store is just one step away from being launched.