Navigating the World of E-Commerce in 2024: A Beginner's Guide
We recently partnered with the London Small Business Centre to talk to local small businesses about different e-commerce platforms and considerations, blending online/in-person commerce experiences, and the importance of an online presence for businesses.
Establishing an online presence is crucial for businesses looking to expand their reach and increase sales. Whether you're a small business owner or an aspiring entrepreneur, understanding the various e-commerce platforms and strategies can make a significant difference in your success. Here’s the 2024 guide to get you started on your e-commerce journey.
Choosing the Right E-Commerce Platform
Selecting the right platform is the first step in building your online store. Each platform offers unique features tailored to different business needs:
Shopify
Known for its flexibility and extensive templates, Shopify is ideal for businesses of all sizes. With pricing ranging from $29 to $299 per month and transaction fees of 2-3% + $0.30, it powers 20% of all e-commerce websites. We often work with Shopify and have written a comparison of Shopify vs Drupal Commerce here.
Squarespace
Offers unparalleled design flexibility, making it perfect for businesses prioritizing aesthetics. Plans range from $18 to $40 per month with transaction fees processed through Stripe and PayPal.
Etsy
Best for selling unique and creative goods. It charges a $0.20 listing fee, a 6.5% transaction fee, and 12-15% on ad-attributed orders.
Square
Provides a user-friendly setup with plans from free to $85 per month, focusing on integrating in-person sales with online transactions.
Wix
Offers a freemium model with options from $16 to $149. It's suitable for those seeking a customizable yet technically complex platform.
WooCommerce
Known for "sell everything," "do anything", WooCommerce's open-source model is another popular choice. Fees include hosting and domain fees, website theme fees, woo payments, and “2.9% + $0.30 for each transaction made with U.S.-issued credit or debit cards. There’s an additional 1% fee for cards issued outside of the U.S.”
Practical Considerations
When setting up your e-commerce store, consider factors like inventory management, shipping options, and payment processing fees. Do you need your inventory to have a decimal system? Is your product super heavy? Have you factored in the cost of shipping into your price? Avoid overloading your site with unnecessary apps, and choose the right subscription level that fits your business needs.
Enhancing Your Online Presence
Beyond choosing a platform, building a robust online presence is essential. This includes:
Website Design
Your website is your digital storefront. Ensure it is user-friendly and reflects your brand identity. A well-built, user-friendly website is just one of the factors to consider when exploring your conversation rate, and a poorly designed website might be why customers are not converting to sales.
Content Strategy
Develop content that engages and informs your audience. This could include a variety of content types; blogs, videos, and social media posts to name a few.
Social Media Management
Use tools like Hootsuite, HeyOrca Buffer, or Meta Business Suite to schedule posts and analyze engagement. Consistency and authenticity are key to building a loyal audience.
SEO and Google My Business
Optimize your website for search engines and ensure your business is listed correctly on Google to improve visibility.
Blending Online and In-Person Experiences
Incorporating e-commerce with physical experiences can provide a seamless customer journey. Consider offering options like online orders with in-store pickup, interactive QR codes for product information, and pop-up events to engage your audience in person.
Final Thoughts
Venturing into e-commerce can seem daunting, but with the right tools and strategies, you can establish a successful online presence. Remember, the key is to start small, focus on your unique selling propositions, and continuously adapt to the market's needs.
By leveraging the right platform and enhancing your online strategy, you can tap into the growing e-commerce market and take your business to new heights. Happy selling!
Want to watch an older version of this presentation? Check out our video blog from 2020.