February 14, 2023
There are millions of eCommerce websites today, from a website developed by an eCommerce web development company using platforms such as Magento, WooCommerce to Amazon, eBay, Alibaba like multi-vendor platforms. So, how do you find a Niche Market to move forward? Or is it essential to find a Niche Market? We discussed this point with many of our clients when we consulted them.
Whether to go for a NIche or not depends on your current capacity of the same domain. If you are physically operating the same business, you do not necessarily go for a Nich. However, if you don’t have an established physical store, it is always best to find a niche and start with very few products, 1 to 10 products would be ideal. It would be slow, but steady. When you have fewer products, you can spend all the marketing budget you have on the specific product catalogue and see the real ROI. Once the business running, with the customer inquiries and the knowledge you gain by day to day operation, you can decide which products you are going to add to your store.
We try to focus and do very few things well. And focusing is hard because focusing doesn’t mean saying yes, it means saying no. So we decide not to do a lot of things so we can focus on a handful of things and do them well.
–by Steve Jobs
It would be best if you decided who is your target market for the website, whether it’s toddlers or monkeys in the Amazon (forest). For example, if you are selling baby products, you may not try to sell pregnancy test strips. Sounds too obvious? Yes, but unfortunately, we have seen this approach often than not from many of the businesses who wish to build an eCommerce website.
Most entrepreneurs don’t think of the operation side of the online store until they get the first order. It is advisable to dry run the process before even you start a discussion of the online store development. Also, you need to role-play the process from ordering to delivery before you start with a real customer. Otherwise, it is inevitable to lose your first customer, which, of course, you do not want to happen.
SEM would play a significant role than you realise. A physical store would get business from the customers who walk by seeing the name board and products in the showcases. Name board and showcases for your website on the internet is the SEO (Search Engine Optimization) or SEM (Search Engine Marketing). With improving SEO, you will get better organic traffic.
Like stores get customers by marketing from the paper advertisements, you need to implement PPC (Pay Per Click) advertisements. With PPC you tell about your business to a target audience. Ads in social media like FB, Youtube and Google are ideal places to start. A detailed article will follow in the future, further explaining this.
You can either sell your products in a sharing platform like eBay, Amazon or sell products on an FB page or in your eCommerce website. Everything has pros and cons. If you have the growth and full control in mind, you should go for your own eCommerce website. Platforms like Magento and WooCommerce can help you to build a website with minimum cost.
Risk of sharing a portion with giants like eBay and Amazon is that with one lousy reputation, your business will end up when you wake up in the morning.
I advise my clients not to build an eCommerce website from scratch as there is no point of reinventing half of the wheel when there are platforms like Magento and WooCommerce available to build sophisticated eCommerce websites.
In our future articles, we will give more information about how to build a Magento website and sell your products in the Amazon and eBay with a few clicks.
At NeoSolax (Pvt) Ltd, we are accountable for the growth of our clients as we know that is what accelerates our success. By providing services not only limited to the technical scope, but we also help our clients to grow their business by acquiring a more extensive customer base. We would do this by making sure that the designs we do, follow best in user experience, a website will develop the best SEO strategies and make sure to maintain the quality and efficiency of websites we develop.
As the team NeoSolax, we invite you to join us to experience the true e-Evaluation of eCommerce.
ABOUT THE AUTHOR
Muditha Ediriweera is passionate about Magento and has nearly a decade of experience in Magento eCommerce development. He has developed a lot of Magento 1 and Magento 2 sites with both OpenSource (CE) and Commerce (EE) platforms. His experience is not limited as a Developer as he guides a lot of people to discover Magento platform capabilities in both code level as a Magento Trainer and features wise as a Magento solution consultant. Muditha is currently helping merchant to sell products online with Magento as a Founder & CEO at NeoSolax with his high calibre Magento development team.
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