You have a product ready to be launched in the online market. Before you proceed with setting up an online store, make sure to complete the following steps.

1. Conduct thorough market research.
One of the advantages of ecommerce is that it allows anyone, regardless of their business size, to participate. Whether you are a small business owner or part of a large enterprise, there are countless opportunities to establish your digital presence and gain a share of the market.

However, with the ease of entry comes a highly competitive market. To stand out, it is crucial to identify your niche. Before brainstorming your product, consider which markets are already saturated and which ones have potential for growth. Take into account the markets where you already have a presence or a passion. Utilize tools like Google Trends or Google Ads Keyword Planner to identify trending products and services, as well as the size of the market for your niche.

Once you have identified your target market, it is time to determine the value you can offer. Will customers be willing to purchase your product or service? What price are they willing to pay? This is where in-depth market research comes into play. Study your competitors, survey your audience, and determine the right price point for your product or service.

2. Select the products you want to sell.
After conducting thorough research and identifying your target market, it is time to develop your product.

This step is one of the most crucial in the entire process, as every aspect of your business revolves around the product you are selling.

Just as it is important to choose a niche market, it is also beneficial to narrow down to a niche product. This can help reduce competition and provide more opportunities for growth.

For instance, a sportswear brand may face tough competition from well-established brands. However, by focusing on a specific type of product or sport, such as swimwear or running shoes, you can position yourself more effectively in the market and invest more resources accordingly.

3. Determine your target audience.
Having a remarkable product is meaningless if you’re not reaching the right people. In fact, every year, $37 billion is wasted on advertising that fails to engage the intended target audience.

However, by gaining a comprehensive understanding of your target audience, you can make more informed decisions regarding marketing and advertising strategies, resulting in increased customer acquisition and revenue.

Follow these steps to effectively identify your customer base and segment your audiences:

1. Conduct surveys with potential customers to gather information such as age, location, and annual income.
2. Analyze industry trends and examine how other companies in your market are marketing their products. Identify what sets you apart from the competition.
3. Study your biggest competitors and analyze their online selling strategies. Determine what works and what doesn’t.
4. Develop buyer personas by collecting data and conducting surveys. This will provide a detailed profile of your ideal buyer and help you target specific customer segments within your target market.

4. Research ecommerce platforms for your business.
Before establishing your online store, it is crucial to research and select the most suitable ecommerce platform for your needs. This could include options such as creating your own online store, utilizing platforms like Amazon, eBay, or Facebook, or exploring other online marketplaces.

Fortunately, there is a wide range of SaaS ecommerce platforms available in the market. These platforms allow merchants to sell products online for a fixed monthly fee, regardless of their technical expertise. Alternatively, if you possess coding experience, you can opt for the open-source route and build your online store from scratch.

5. Develop product content.
Unless your business is already well-established, it’s unlikely that you have a photographer, copywriter, or social media manager readily available, especially if your business is just starting out. As a small business owner, you probably find yourself wearing many hats. If that’s the case, here are a few things to consider.

**Visuals:** Ensure that all images and product photography are of high quality and align with your brand image. If your supplier offers professional product photos, take advantage of them. Alternatively, you can take your own product photos using a smartphone and good lighting – it can go a long way.

**Product descriptions:** Keep your product descriptions concise, yet comprehensive and creative. Use engaging and descriptive language, and don’t be afraid to inject some fun into it! Additionally, consider offering free or discounted products to encourage customer reviews and testimonials.

6. Establish your online store.
Now that you have your product, target market, and content, it’s time to start building your online store.

Don’t worry if you lack the technical expertise to build a website from scratch – many ecommerce platforms allow you to create a visually appealing online store without any coding knowledge. With SaaS platforms like BigCommerce, you’ll have all the necessary tools to design your online storefront, upload your product catalog, and effectively market your brand.

If you’re feeling overwhelmed by the multitude of ecommerce platforms available, remember that there is no one-size-fits-all solution. Each platform has its own advantages and disadvantages, so the best approach is to choose the solution that best fits your specific needs.

7. Boost the visibility of your store and attract customers.
To effectively promote your store, it is crucial to develop a comprehensive marketing strategy that targets your potential customers and drives traffic to your store. One highly effective approach is to adopt an omnichannel strategy, which involves marketing your brand through various offline and online sales channels. Consider implementing the following tactics:

1. Leverage the power of social media platforms.
2. Utilize Google advertising to reach a wider audience.
3. Collaborate with influencers to expand your brand’s reach.
4. Participate in relevant events to showcase your products or services.
5. Engage with customers through Facebook Pages and Groups.
6. Offer enticing discounts and promotions to attract new customers.
7. Utilize email marketing campaigns to stay connected with your audience.
8. Create valuable content to establish your brand as an authority in your industry.
9. Encourage word-of-mouth marketing by providing exceptional customer experiences.

By implementing these strategies, you can effectively promote your store and increase its visibility, ultimately driving more traffic and attracting potential customers.