It is hard work on how to start an eCommerce business especially for beginners who starting their own business. It involves several steps and decisions that must come together at the right time.
How To Start an eCommerce Business in Singapore
In this post, we’re pleased to have put together a detailed journey for getting started, executing and getting results. Read on to find out everything you need to know about how to start an eCommerce business in Singapore:
1. Choosing the Right Product
First, it’s important to find out what product to sell. How to choose the right product? One way to select the right product is to find out what’s trending. If it’s trending, it means that there’s a good market opportunity.
Sometimes, an unexplored niche might be good for less competition. A useful tip for choosing a product is to know what we like so that we are not tired of understanding, researching and selling it.
2. Market Research and Preparation
After deciding on the product, the next step is to research the competitors. It’s important to find out how the competitors are selling before we can develop a better business/marketing plan.
In this stage, having a comprehensive business plan that includes a brand name, pricing, what to sell, how to sell, is vital.
3. Setting Up Your eCommerce Business
Here comes the juicy part — setting up your eCommerce business! Check out our guide here on How To Create An eCommerce Website? In 4 Simple Steps!
In fact, anyone can setup an Online Store using an eCommerce website builder, or a hosting and WooCommerce plugin.
Read this if you’re a beginner!
For beginners, it might take you some time to figure it out. Get the professionals to have it done for you, especially when it’s for Only S$25/month*!
Check out our eCommerce Website Plan here.
4. Preparing to Launch
After the eCommerce store is done, it’s time for launch. But before the launch, you will have to decide on which payment methods to use, and how to deliver goods to the customers.
If you are using our eCommerce business plan, rest assured all these are included in the plan for you.
However, if you are building it yourself, fret not, you can use the payment methods provided in the WooCommerce plugin or with wallet providers such as PayNow and EZ-LINK.
For shipping methods, both local and global courier services are available.
5. Post Launch
Lastly, you need to drive traffic to your site and acquire your first customer!
The fastest way to get traffic is to advertise through different platforms like Google ads, Facebook ads, Instagram ads, Twitter ads, and more.
Certainly, it’s important to calculate and determine the ROI of the advertising spend, for example, after a few months of advertising.
Apart from paid advertising, free website traffic such as organic traffic that comes from search engine optimisation (SEO) is equally important.
Moreover, the use of newsletters and the power of social media sharing are keys to getting new leads and customers!
Tap on the aforementioned to sustain and grow your business in the long-term.
Building your own e-commerce company can be both exciting and overwhelming. You will learn a lot about selecting the right product, determining the competition, creating an online store, and promoting and selling to new customers.
The process may seem like you’re solving a puzzle head-scratcher, but in the long run, it’s both satisfying and rewarding.
We hope this guide will lead you to success! For more enquiries about how to start an eCommerce business, always feel free to consult with us for free.
Kick start your eCommerce business plan Today for Only S$25/month* with Exabytes Singapore!