How to start an e-commerce business cheaply

You might have already heard that e-Commerce is the new business currency in the era of mobile phones and access to the internet and technology. The e-Commerce business has largely evolved over the years, and in Nigeria, is it booming above other businesses that have gained prominence in the past.

Despite the fact that there are quite a number of e-merchants who have settled in this space, there are also a few who have not figured out how or where to begin. This article covers how to start an e-Commerce business, and how to be successful at it as well, using these few tips;

1. Identify your Product/Customers: This is the first step when trying to set up an e-commerce business in Nigeria. Knowing what your product is about and who it speaks to, is a vital part of your growth strategy as it also determines the path of your marketing campaign. The key is to have grounded knowledge on both sides; meaning having enough information about the problem the product solves, as well as how well it suits the needs of the intended customers. You can also find out about upgrades that might be made in the future concerning the product packaging and every other vital detail.

2. Create Social Media accounts: Now that you have carried out intensive research about the product and the target customers, it is now time to take it a step further by creating social media accounts. You should also bear in mind that various social media networks have different templates, hence the need to note each and decided which works best for the kind of product you are about to market. Most likely, this is where you will hit the majority of your sales.

3. Create a Gallery: Your product photos and pictures are what would speak for you online. Ensure that you do justice to your product pictures, as high-resolution photos are more likely to increase the chances of making a sale on the item. You don’t necessarily have to photograph every single product available, all you need to do is to have samples for each category, and you are good to go.

4. Run Sales and Discounts: To attract more customers and buyers, especially in the early days of starting out your e-Commerce business, you might have to adopt this strategy for awareness and possible conversions. You can also consider making it a regular activity for your brand and business, as the psychology of discounts states that feelings of elation are evoked when purchasing products with discounts, and customers would do anything to maintain that feeling (Namogoo), hence the possible establishment of an emotional tie with your brand.

5. Get the Right Logistics Partner: After setting up your business to a certain stage, you would need to consider expansion and that would involve partnering with a reliable logistics service provider. In Lagos, there are a number of trustworthy vendors, with international presence as well, making it easy to explore different channels of product purchase. A few are; Speedaf Express, AB Logistics and many others.

Owning an online business in Nigeria is no small feat, the reason why you need to get it right while starting out in order to gain more ground.