How To Make Money With Online Stores?

Make money from online stores

Tips for Selling More and Making a Profit from Your Ecommerce

Making money from e-commerce: Count on a top e-commerce platform early on so you can make more sales and not have to costly migrate e-commerce in the future.

Making money from e-commerce: Count on a top e-commerce platform early on so you can make more sales and not have to costly migrate e-commerce in the future.

As the e-commerce market grows, so does the number of people who want to enter the business, but at the same time have the question, "How to make money from e-commerce?" Read the following basic walkthrough for some answers!

How to make money with online store: the basic walkthrough

To make money in e-commerce:

• Choose a niche with low competition:

The less competition, the easier it will be for you to make your store stand out and make more sales. Otherwise, a very crowded niche can greatly increase your costs.

In addition, once you enter the market as a competitor in a non-competitive niche, it becomes very difficult for entrepreneurs who enter the same market later to outperform you who came first.

• Know the consumers:

Making Money With an Online Store: Understand Buyer Persona Before You Start Selling

Study in advance the consumers who are part of the niche where you intend to operate. Use tools like Buyer Persona to understand in depth how these consumers behave.

• Choose the entrepreneurship method:

In the Business Plan method you carry out extensive planning before you start implementing e-commerce business and e-commerce in practice. Theory and practice are visibly separated in this system of entrepreneurship.

In the method of startup e-commerce you plan the minimum and then part for practical tests. For example, to check for demand for a product, a test ad is created (even if the product does not yet exist).

• Create a product mix:

Both the Business Plan method and the startup e-commerce method will provide you with the foundation for creating a product mix. Once done, you can always trade in some items that aren't selling as much as you want.

• Count on an inbound product:

An inbound product is one that is good, inexpensive and therefore generates high buying desire. It is critical in new online stores where consumers are often afraid to buy.

With an inbound product it will be possible to break the barrier of disbelief that people have when faced with something new like a recently launched web store (as soon as yours will be).

• Choose e-commerce platform:

Making money from e-commerce: Platforms like VTEX have features like SmartCheckout that make sales easier

Once you have a ready-made product mix, choose an e-commerce platform to build and manage your online store. Ideally, you should have a top system early on so that you do not have to migrate to the e-commerce platform in the future.

Not to mention that you can earn more with less effort depending on the type of platform you choose. Use industry-recognized platforms like VTEX, as they certainly won't let you down when you need scalability .

• Invest in Marketing:

The average conversion rate of national e-commerce is around 1.5%. This means that for every 1,000 unique visitors to an online store, only 15 sales are made.

• Optimize everything daily:

An e-commerce business is dynamic. New technologies that make life easier for the consumer come up periodically, which you will need to assimilate and integrate into your online store.

In addition, consumer access statistics may generate insights for improvement. Market changes, economic downturns and other occurrences will also force you to make optimizations.

Anyway, to know when expenses end and profits start, you will need to calculate the so-called Financial Balance Point (PEF) of your e-commerce. In other words, PEF is the minimum that your online store will have to invoice in a period so as not to have loss. From this point on, profits begin.