Any practical tips or advice you don’t mind sharing? From product selection to digital marketing and getting those first few sales.
If you are just starting out I would focus on your social media before working on paid ads. The cost will be very high and you most likely don’t have a budget for it yet. Post as much as possible.
Disagree. Focus on ads. Sell to people that are searching for your products.
It depends on what you are selling. I would only start with ads if it is a brand new product with not much competition. For products such as clothing I would recommend building your social media first. And like I said if you are just starting out it’s likely that you have little or no advertising budget so you wouldn’t be getting many sales either way. I’m sure you can make both ways work. This is just my opinion.
The main thing you need to do is make sure you sell products that there is a market for and that have enough profit margin to be able to pay for ads and make a decent profit.
Stay away from low price products. Profits will be too low.
If you want to make $5,000 a month, it’s easier selling 100 products that have $50 profit than it is selling 1,000 products that have $5 profit. In the latter case, you’ll have 10 times more customer support, packing, shipping, etc.
Product selection is the most difficult. I would suggest finding suppliers in a smaller niche where there’s less competition.
Sell products that people are searching for on Google. It will then be easy to run Google ads and get sales.
Make sure your website looks professional and include a phone number that customers can call you on.
Setting up an e-commerce store is the easiest part. The hardest part is finding your customers in today’s saturated market. Ideally, you need to find a niche market and recurring and loyal customer base. So marketing will eat up the most of your efforts.
i did start again, after starting a 8 figure brand learned a lot about what not to do… my criteria for a new product:
- extremely low cogs
- extremely high margin and perceived value
- extremely light product
- extremely small
- can be made relatively fast <4 weeks
- no returns needed, i.e. not fitting/wearing
- <$50 each
- no multi sku/size etc
- does not expire
extra criteria if i were to start again again:
- all of the above (obvs)
- female focused product
- something people use everyday