If the COVID-19 pandemic has taught us anything, people will continue to shop from the comfort and safety of their own home. But in order to do this, they need online stores that provide the goods and services they are looking for. That is why many business owners and entrepreneurs began getting involved in eCommerce. This is no easy task, but eCommerce expert Steven Ridzyowski shares the do’s and don’ts of getting involved in eCommerce.
Do’s of getting involved in eCommerce
The first thing Ridzyowski recommends “is researching the kind of product or service you want to sell. You should make sure you start by selling a product that is trending and being demanded. You will want to meet those needs and guarantee satisfaction, so customers keep coming back to buy from you. However, your research should not just focus on the product. You need to focus on your audience too.” According to him, the most crucial detail you need to be aware of in order to succeed is the demographics you are aiming to attract by creating a profile for the kind of customer you want.
After following his advice, you will have determined the product or service you want to offer and the audience you want to target. But you are missing an essential element for your eCommerce to work — a supplier who meets your needs. “They should be able to guarantee good quality but also low cost per goods,” says Steve Ridzyowski. “Establish a good long-lasting relationship with a supplier you are able to trust and who you know will always be able to provide the products you need. This will keep you in budget and allow you to spend more in other areas of your business such as advertisement, which is one of the elements you should be investing in the most.”
Don’ts of getting involved in eCommerce
It is easy to say what you should do when you begin your eCommerce journey. However, the don’ts are harder because each business may face different challenges. For that reason, Steven Ridzyowski shares what his own experiences have taught him. “The most relevant one would be, don’t start your business by selling a high-ticket product because your cost per good will be higher, and it would take over your expenses. When starting your business,” he suggests, “you should set a budget. You will want to stay within that budget until your sales grow and your revenue is bigger.”
For your business to succeed, you need to learn and understand your metrics to avoid scaling too quickly — do not go in blindly. Ridzyowski says, “it is important for you to know and understand your metrics. Those are very varied from impressions, reach, and engagement to sales conversion rates, customer retention rate, customer lifetime value, repeat customer rate, and refund and return rate.” His experience as a businessman has taught him advertising cost, cost of goods, and revenue are the key metrics any eCommerce owner should understand. The lack of knowledge in this area can easily mean a loss of money.
Most of the advice you will hear from business owners is related to resources, tools, and steps you can follow. However, this expert knows getting involved in eCommerce means more than that. For that reason, he believes, “it is important not to be afraid to fail. Not every product will be a winning product, which is why you should launch your business with a trendy product that will catch customers’ attention. While doing so, don’t invest all your advertising budget in one product. Ensure the planned budget is enough for more than one product if you need to shift gears based on your sales and consumers’ demand. After first launching,” Ridzyowski says, “give your product time. Still, if you see it is not selling within the first few days, you will need to change your strategy and adjust to the demographic you are targeting.”
eCommerce involvement
Getting involved in eCommerce is no easy task, but there are different ways to approach your business’s launch. As a business owner and eCommerce expert, Steven Ridzyowski is able to guide beginners in their involvement. His do’s and don’ts are a great starting point that comes from his successful personal experience.
To learn more about Steven Ridzywoski’s experience or work with him and his team, visit Ecommerce Marketing Agency’s website.
