Benjamin Aizik and Ryan Klooger’s Guide on How to Begin an Ecommerce Business
- Benjamin Aizik
- Apr 14, 2022
- 3 min read
Times are changing in this day and age. More individuals want to be their own boss and control their destiny. Thanks to the internet, this is now more accessible than ever, and e-commerce is one exciting option for success.
Knowing exactly how to launch an e-commerce business that can genuinely generate cash is exceptionally challenging. There is so much information and so many e-commerce terminologies to sort through, developing a plan of action to prioritize your resources. At the same time, you construct your e-commerce business strategy.
Co-directors of RB e-commerce, Ryan Klooger and Benjamin Aizik, have generated over $2.5million in sales across several brands and enterprises due to the ever-growing practicality of purchasing products online. Online businesses have seen a surge in demand over the past two years. According to google, trends have increased by over 600% since the pandemic started.
With their knowledge and experience, seasoned e-commerce entrepreneurs are now giving back by assisting others in beginning their e-commerce adventure through one-on-one mentoring.
Establishing an Ecommerce Business
Both Ryan Klooger and Benjamin Aizik know that some people have succeeded by concentrating on a unique niche product or providing excellent customer service. They also cite that up to 50% of internet stores never make a single sale. Although it’s a meager number of e-commerce enterprises that get off the ground, compared to business success rates in general (10 percent), it’s still a promising result.
To summarize their advice on how to establish an e-commerce business, here are a few key takeaways:
Examine the most recent product trends
Look at other online enterprises
Items can be obtained via dropshipping suppliers
Using Shopify, you can create an online store
Promote your business using accessible marketing outlets
Give excellent client service
Concentrate on conversion optimization
Optimize your online store
Keep your inventory up to date
How Do You Begin an Ecommerce Business Without Money?
Starting an e-commerce firm would require at least a few hundred bucks. It is a product-based business that necessitates the creation of an online store, promotion, and investment in the growth of your brand.
That being said, Ryan Klooger and Benjamin Aizik believe that you may establish an e-commerce business on a shoestring budget by using dropshipping as your business model, utilizing free marketing channels, and generating brand exposure through word-of-mouth tactics.
You can also look at funding programs such as Shopify Capital to help you launch and expand your online business.
Is It Possible To Make Money With An Ecommerce Business?
In a nutshell, sure! However, achieving your gains may take some time because the journey of an e-commerce entrepreneur is a marathon rather than a sprint. If we’re being honest, it can take you 18-24 months to see your first profit.
As a result, Ryan Klooger and Benjamin Aizik advise you not to judge the success of your e-commerce enterprise based on your net profit in the first year.
What Comes Next After E-commerce Success?
Once you’ve verified your store concept and established a continuous stream of sales, make sure you continue to optimize your e-commerce business as you go.
Here are a few more pointers by Ryan Klooger and Benjamin Azik to consider as you begin your e-commerce venture.
Provide Excellent Customer Service
If their queries or concerns are not handled swiftly, around 45 percent of US consumers will leave an online transaction. Exceptional customer service is vital to the long-term success of your firm. Create self-service information and a comprehensive FAQs website, provide live chat help, incentivize product reviews, and foster consumer trust.
All of this will provide vital social proof for your store and generate repeat consumers, who are five times less expensive to acquire than new ones.
Concentrate on Conversion Optimization
On average, 69 percent of your internet visitors will abandon your site without making a transaction. How much more money would you make if you could keep those sales instead of losing them? Improve your consumer journey.
Make time-limited offers. Start an email campaign for cart abandonment. You can also launch a retargeting campaign. Try out a variety of various strategies to see which one works best for your company.
Improve Store Optimization
Please notice that 44% of internet customers will tell their friends about a terrible online experience. After you’ve built the groundwork for your e-commerce venture, the next critical step is to optimize your website. Increase the speed of your website.
Make an easy-to-use navigation bar and concentrate on making excellent product pages. Show related products. Improve your store’s search. Finally, examine how your store appears on mobile devices.
Keep your inventory up to date.
Best-selling products tend to fade away quickly, which is why inventory is critical. Always be on the lookout for new product ideas that will keep customers returning to your store. Don’t rely just on a few products to drive all of your revenue. Instead, give fresh arrivals to existing clients and test new product ideas based on Google Trends.
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