Entering the e-commerce industry, you cannot sell whatever you please. You need to choose the market wisely if you want to make money. To be successful, you need to define a clear framework, a “niche” for your business.
Most newcomers to the Internet business face the same problem – choosing a niche.
The problem is that if you choose the wrong niche and focus only on making money, then you are likely to fail.
Most people, when they start a business on the Internet, do not fully understand what exactly they want to do. But it’s important for you to understand the following.
At the first stage, this is not about perfection, but about continuous development. Therefore, if you have a good idea, but you are still in doubt, then the best thing you can do is to start and see what happens. Otherwise, you just get stuck at the stage of choosing a niche, and you can not start for a long time.
Why don’t most people succeed in online business?
The main reason for the failure is the creation of “business for business”, without giving any importance to whether he likes it or not. Building a legendary online business requires a great investment of your time and energy. If your occupation does not inspire you, then the finish is just around the corner. Why do you think so?
You are starting. A month passes. There are no results yet or they are insignificant. The second month passes. The results are growing a little, but still do not reach the level at which you expected. And then you begin to gradually lose interest in your business. He does not light you, does not motivate you to wake up in the early morning, to begin to act again. All. This is a direct path to the abyss. You lose.
You can purchase products at a lower price than competitors, so you can afford to sell them at lower prices. For example, you can import products by purchasing them in bulk and inexpensively in another country. Do not enter a price war if competitors are procured in the same place.
Another example: successful brands often have a premium product. If you can buy an analogue of a successful product at a lower price, there will always be buyers for it. Just make sure that you are not violating the rights of anyone’s trademark.
In this case, the quality of your products should be higher than that of competitors. For example, your product lasts longer, is more durable, can be used in more severe conditions, has steel parts where competitors have plastic, etc. You can position your product as a premium product, raise prices and you will have a good time from customers.
You can get products that no one else has. For example, you have exclusive rights to sell a specific product in your country.
Another example: you produce products yourself and are the owner of the brand.
The quality of your marketing is higher than that of competitors. For example, all of your competitors have inactive websites.
Another example: your competitors’ online stores are not very optimized for search engines and you can easily get a lot of traffic to your site. Keep in mind that the marketing framework is often not long-term.
You can provide customers with more product information. If your products have a detailed description, excellent videos, reviews, you fall into the educational frame.
Maybe you have a lot of money and you can invest it in the development and promotion of the brand. Most major brands have evolved that way. For example, you can buy a lot of goods in bulk, buy a warehouse, build a large online store, hire a large team to work with customers, spend a lot on marketing and thus gain a reputation.
Another example: you participate in a dropshipping program, but you can invest in organizing customer support, delivery services and marketing.
You can be the first in your field if you can attract attention, build loyalty and a customer base. There are many areas, the development of which is difficult to imagine online, maybe because of difficulties with the delivery of products or because of the business culture in this industry. Therefore, pioneers can turn difficulties into advantages and gain market position.
Having chosen a “niche” for your business, feel free to proceed with the development of a website or online store.