Since the start of the pandemic, the eCommerce retail market has more than doubled in the US alone. Globally, digital entrepreneurs are taking advantage of new developments in software and digital business technologies to launch successful online businesses.
Small business owners who strategically launch and market their eCommerce sites can enter the digital marketplace competitively and see rapid success.
There are many considerations and opportunities to get ahead when setting up your eCommerce business, from the physical address of your company headquarters to the way you structure your site content.
Establish Capital
Once you’ve created your idea for a product or service to sell online, you will need to establish capital to launch your company. There are many opportunities for entrepreneurs to get funding for their startups. Venture capitalists can invest directly with new businesses that seem riskier than others.
Entrepreneurs can also apply for small business loans from their state governments, launch a crowdfunding campaign, or apply for grants. Establishing a solid financial base is essential for successfully launching and building a startup.
Consider Location
Many entrepreneurs don’t consider the physical location of their companies when launching eCommerce businesses. However, the state you choose to headquarter your business in will play a significant role in your business success, scalability, and profitability.
A recent study by Nexcess ranked the best US states for launching eCommerce businesses based on their tax policies, infrastructure, accessibility to internet networks, funding opportunities for SMBs, and the general economic outlook.
Florida was ranked number one for its beneficial tax plan, quality infrastructure, and environment for entrepreneurship. The factors considered in this study are responsible for building lucrative and opportunistic entrepreneurial environments and spurring new economic growth.
Launch a Reliable Online Store
Opening a successful eCommerce store requires a reliable website and server to efficiently keep your business up and running.
There are various options for setting up an online store depending on your scaling and initial funding goals. eCommerce platforms such as Etsy are easy to use but cannot be customized or optimized to the extent that building your own website would allow.
With managed WordPress hosting from Nexcess, you can access a team of professionals who will help you set up, optimize, and organize an efficient company website and online store.
With automatic security and plugin updates, analytics reports, a customizable dashboard for easy management anywhere you’re located, and more, managing an online business is easier than ever.
Invest in Digital Marketing
The tremendous increase in online shopping generated a more competitive digital marketing landscape. Today, eCommerce businesses must have an eye-catching and engaging online presence to remain competitive.
Investing in digital marketing campaigns, social media calendars, other messaging, and ways of reaching the consumer is essential for building your customer base.
The demand for professionals with digital design competencies has skyrocketed as more and more companies recognize the need for creative and unique marketing content that will put them at the front of consumers attention.
Scale with Skilled Professionals
As more businesses turned to digital workplaces, the American workforce went remote and searched for careers they could launch from home. Today, work culture has changed, with greater emphasis on inclusive workplaces that encourage a healthy work-life balance.
Entrepreneurs looking to scale their eCommerce stores will benefit from hiring a team of skilled professionals to help manage the growing business.
The economic outlook of a specific state can offer entrepreneurs insight into the opportunity for scalability within an area based on how well startups have done in the past and workforce statistics. Location is once again important when planning for the long-term growth of an online business.
Launching an eCommerce business is easier than ever with new technologies and access to skilled professionals. Building your company strategically can help your store remain competitive and lucrative in the years to come.
