3 Secrets of Online SellingPrarthana Rao
Are you struggling to sell your product online? Don’t worry, we got you covered! In this blog, we will walk you through three essential tips to help you sell your products online with a hassle-free process.
You are probably here for either of three reasons –
- You have a local offline store, but now you wish to reach a much wider audience.
- You have an online presence, but you want to explore other platforms.
- Or, You don’t have any product, but you want to explore how to sell online.
In this article, all three phases have been covered. So don’t panic even if you are a complete novice at online selling!
We will help you answer three pivotal questions that are critical to have an answer to if you are thinking of selling online-
- What products to sell online?
- Where to sell?
- What is your online selling strategy?
In the beginning, it might seem overwhelming to you, but don’t get worked up. Following this article will make the process much simpler and approachable for you.
1. What products to sell online?
When you don’t have a product, but you want to sell online, probably the first question that pops up in mind is what to sell, right?. Are you also one of them, confused about what you should probably sell that would give you handsome profits. Don’t worry! Let us shed light on this problem that would help you have a clear perspective of what would work for you and what wouldn’t. If you already have a product, You can skip this step and directly jump to point no. 2.
For those who don’t know what to sell, let me first start by explaining the variety of products to decide which domain might be right for you. There are two products that you can sell online –
Commoditized products- They are essential, popular, and high-demand goods. From computers, tablets, fitness trackers to clothes and toys- they all are commoditized products. They are regular products that are now a part of our daily life. The sales volume for commoditized products is high if your brand is popular and can make a space for itself in the competitive market. The major drawback with a commoditized product is that the only option you are left to compete with your rivals is on price if your product is similar to your competitors. There are so many similar brands selling similar products with a very minute or no variation at all that there exists a cut-throat competition in this market. The only way to stand out and stay competitive in the market is through continuous innovation and excellent customer service. Customers will be ready to pay a premium price for your product only when your products are different from other similar brands. Your product and your service must resonate with them and compel them to come back to you. You don’t necessarily need to reduce the product’s price if you maintain your service quality; you target the right customers who will be ready to pay the price you want them to pay. Lets’s have a look into the other variety now.
Niche product- It is a product targeting a specific section of people in a large market, fulfilling a particular demand. The number of products sold might be lesser in volume than commoditized products, but you can compensate for that by keeping a higher profit margin. The demand for Niche products is price inelastic. Organic foods, specialty foodstuffs, customizable products, etc., are all examples of niche products. When we talk about niche products, price is not the factor that is considered provided you are successful in delivering the right quality product that your small viable customers need.
If you are still confused about what to sell, I would advise you to search on google trends or conduct keyword research to know which products are in demand and are trending to have a more clear perspective on them. Once you have figured out what you want to sell, the next obvious question is where to sell.
2. Where to sell?
Choosing the right platform is equally, or we would say preferably more critical than choosing the product you want to sell. You must know who is the viable audience you wish to serve, and where will you find them. Selling online today in this digital era is easier than ever. You have so many platforms that help you reach people worldwide, while some platforms also provide you with end-to-end customer support service.
Top four ways to sell online –
- On social media sites like Facebook and Instagram
- Ecommerce marketplace such as Amazon and Flipkart.
- Hosted platforms such as Shopify or Bigcommerce
- Your website on WordPress
I will quickly run you through each point and give you a gist of all four platforms to help you decide which platform would be the right place for you to start selling online.
- Facebook and Instagram are popular platforms, with approximately 3 billion active users on Facebook and 1 billion on Instagram monthly. You can create a business profile for your product on Instagram and link it to your Facebook profile to make the process simpler. You need to post the photos and the videos of your products consistently on these platforms and at the right time to have maximum engagement on your posts. There are many insights that a business profile provides you with that can guide you with the process of getting information on when is the right time of the day to post. Instagram has many unique features as Instagram live and Q&A sessions that directly connect with your audience. It enables you to educate them about your product and solve their problems with a personal connection.
- Amazon and Flipkart are primarily famous for selling electronic items, apparel, books, etc. You are a third-party seller on such platforms that already provides you with many customers and end-to-end customer service support. Any legal products that you can think of selling online can be sold on these platforms. They are a one-stop e-commerce platform for you to begin selling online, even if you are entirely naive in this field. From storing, promoting to delivering your products – They have all to offer you in exchange for a nominal fee that they charge for their service. There are over a million users on these platforms, making it a competitive marketplace, but it also helps you reach a massive number of potential customers.
- Shopify and BigCommerce are website builders that allow you to open your store online. You need to pay a monthly or annual fee to them for using their software. No matter where you are, you can manage your store as long as you have an internet connection. There are various plans available, and you can opt for the plan that is best suitable for your business requirement and your budget. They allow you a free trial period that lasts for 14 days, so you can explore the platform in this period and then decide if this is the right place for you or not.
- You can sell on WordPress with WooCommerce, a powerful Chrome extension that turns your website into a robust online store. Unlike Shopify and Bigcommerec, WooCommerce requires some coding language, but it gives you a lot of creative control. You can also opt for hiring someone to make a website for your business and pay them to manage it.
3. What is your online selling strategy?
Once you have decided what to sell and where to sell online, the next big thing is working on your online selling strategy. It need not be complex graphs or hard mathematical questions, so don’t panic!. It might feel prodigious when you give the first thought over it but don’t brood over it, relax. I will walk you through the steps and make it as simple as it can be for you. There are a few essential questions that you need to have your answers to-.
- How will your customer know about you and your product? This is the most crucial question that you must ask yourself before selling online. In this digital era, attention is expensive. There are countless products available online, why would somebody look into your product? How would you educate your customers about your product and why would someone pay attention to you is a valid and relevant question you must ask yourself when you begin. Here are some tips for you to start with – you can make your audience learn about your product through blogging and drip marketing. Ensure that your business’s marketing funnel is designed so that customers proceed to the next stages with satisfaction and with no doubts, and even if they do, it’s your job to assure them.
- Who are your competitors? Your competitors are the businesses that are competing in the same niche. Your competitors have probably figured out things that you are trying to figure out now. There’s no shame in learning from them. Look into their products and their marketing strategy and try to figure out the gap that they are missing out on that you can fulfill. This is one of the most crucial areas where you can enter the market, bridge the gap, help your customers, and make a space for your brand.
- Investment and marketing strategy The goal of marketing is to connect your product to the right customer base. Your Investment is how would you allocate your capital in different segments to make the purchase happen.
Some critical questions would determine your marketing strategy-
- Who is your viable audience?
- What is the problem that you seek to solve?
- Where does your customer hang online?
- How will your customer find you?
- What factors influence them while purchasing your product.
Once you have these questions answered, you can design your marketing strategy. You can also look into your competitors’ strategies and adopt them if they meet your vision and goals with a touch of your uniqueness that resonates with your brand.
Pro Tip: If you want to go far, your first focus and priority should be on customer experience. Your work is not over as soon as the purchase from your store happens. Getting the feedback and acting over it is very crucial. You must provide high-quality service to build your customers’ trust in your brand. There must not be any gap in communication between your brand and your customers. You must-
- Offer a live chat service.
- Respond to phone calls and email inquiries
We hope this guide was beneficial to you. Hit the comment section below and let me know what you would like to read next.