What started as a $3.9 billion industry in 2009 is now a $475 million industry in India according to the July 2018 census. The new growth rate documented about 40% of the Indian crowd jumping on this bandwagon. Which industry are we talking about? E-Commerce.
Growing at astronomical speed, the e-commerce industry in India is the new business buzz with many business enthusiasts wanting a piece of the pie. Entrepreneurs across India are considering a shift from traditional to online commercial platforms with the latest trends driving sales off the roof. Just ask big e-commerce moguls like Flipkart, Paytm and even Amazon India on how their luck turned around over the past decade.
However, the question remains, why is the entrepreneur of today fixated on building an e-commerce empire of their own?
Quite possibly because of the booming future it holds in the commercial market. Growing at a steady 19%, the Indian e-comm market is supposedly set to surpass the US to become the second largest e-commerce market in the whole wide world by 2034. Acknowledging the growing demand, investors have proactively started funding existing and new business opportunities contributing to the growth and demand of e-commerce. This allows budding entrepreneurs a financially secure platform to start their new business. Don’t you think the stakes are too lucrative to not grasp?
Seizing this golden opportunity, existing e-commerce brands have devised quite a few exciting trends that help them maintain their market hold and customer attention. Every business module requires its fair share of marketing- be it the traditional word of mouth or the more modern digital marketing tactics. With Internet accessibility now expanding in every nook and cranny of India, the sudden boom of digitization is thought to be the turn around point for e-commerce.
From robust online sales to appealing offers like limited editions and more, gathering a group of intrigued customers has been made easy by the advent and widespread of internet across India. However, digital marketing or Search Engine Optimization (SEO) is an umbrella term that hosts different methods and techniques underneath it. The three primary categories can be termed as:
- Search Engine Marketing
- Website Development
- Social Media Marketing
While all three sectors are independently crucial for a business to grow, if you’re looking for maximum results and efficiency, codependency of the three trend sectors need to be achieved. All you have to do is target the right audience at the right time.
Interested in starting an online e-commerce business of your own? Not sure how to go about it?
Here’s what an eCommerce Development Company in India would do: –
1 – Work on a business plan
A plan is a simple framework that answers all the basic queries in terms of creating a business model which would include the product or service you want to pursue, the latest market trend and strategy, operations and logistics and so on. This is your basic structure on which you would build your foundation.
2 – Do your homework properly
A thorough market research will tell you all about your product demands, the demographics, the trends to acquire and attract your niche crowd, the promotional strategies used by competitors and more. These are crucial for you to plan a future for your business in this already robust industry.
3 – Find your online medium of sale
Now that you’ve decided what to sell, the next step should be to team up with the big moguls that are already topping the industry with flying colors. Luckily, platforms like Paytm, Flipkart, Amazon, Snapdeal will allow you the much-needed push to reach your product/ service to the end user.
4 – Make sure you are aware of the law and costs
There are a few preliminary bits you need to consider prior to starting a business. Firstly, you need to get it legally certified and valid. Secondly, you would need the right amount of capital which you can find out from your market research reports.
5 – Establish an online presence
Now we come to one of the most crucial points of starting an online e-comm business- a website which is a platform that mimics the likes of an offline retail store. Anything from promotions to the latest catalogs and customer support can be availed here. Now you can either use your men best to create a website of your own or you can contact a website development company to help you out with the ordeal.
6 – Strategize your marketing
E-commerce would simply be impossible if there was no SEO. Search Engine Optimization is the lifeline of an online business and that is exactly what you have to do to get your product/service to the top of Google Listings. This would, in turn, catch your potential audience’s eye and you’re your website traffic and sales would roll from there onwards. However, make sure your SEO is being supervised by an industry expert with a piece of sound knowledge on how to push your business to the top. For this, you can connect with any leading digital marketing company in India like zenwebnet.com, blueastral.com, etc.
7 – Build your online presence one step at a time
Apart from the bare essentials, you would also need proper advertising techniques, head-turning campaigns and designs, polished PR and so on.
While the steps leading up to your e-commerce platform may look a little menacing, truth be told, the E-commerce industry would be one of your best choices for a secure successful future. While you can bring dedication to the table, leave the rest to a professional e-commerce consultancy.