How to Sell Products Online In 7 Simple Steps (2023)

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Selling your products online

Despite how fascinating it may sound, it isn’t easy to sell products online. It requires a lot of passion, effort, and determination. You need proper marketing knowhow and business awareness. Here we will try and decode it for you with a step-by-step guide. To discover all you need to know about how to sell products online and generate income, keep reading.

A step-by-step guide to selling your products online

Step 01

Create a business plan

Online sales can be tricky. Thus, before choosing a business category, be sure to think hard. Look into factors like demand, profit margins, and competition.

Selecting a product category where there is good demand will make starting your online store and developing your brand a lot simpler. Are you planning to manufacture the product or simply retail it? What is your customer profile? These are important questions to ask while developing a business plan.

Step 02

Research your rivals

The quantum of demand for your product must be established. The best way to do this is by examining your competitors. Do you see them shutting their business or are your competitors succeeding and growing? What are your best-performing rivals doing well? Is there a demand gap which you can fill by choosing to sell online?

Step 03

Set a fair price

Don't make the error of assuming that a lower price is always better when trying to build your brand. People are generally prepared to pay more money for quality goods. On the other hand, if you feel that the market for your product is overpriced, you can make your business more competitive by bringing down the prices a notch. The secret is to find the right balance—neither too high, nor too low, but making enough profit to sustain your business.

Step 04

Target the right customer

Naturally, in business, the customer is everything. You must know the type of customer who will buy your products. This is known as your target audience. You may use market surveys, one-on-one usability testing, and group feedback sessions to determine the requirements and the preferences of your target audience. You may also need to win over customers from your competitors by playing up the distinctive value you offer that makes you stand out.

Step 05

Focus on marketing

You may get a head start by starting your brand promotion activities even before your business launches. Using multiple channels including offline, SEO, and social media to provide a consistent brand experience to customers can help you prepare a client base well in advance of the launch.

Since your business revolves around selling products online, ensure that your website is working properly. You can use Boost 360 to create an attractive business website where you can host your online store and sell products online.

Step 06

Set up your payment process

Adding a payment gateway is crucial to setting up an online business. Choose a payment gateway that’s secure, reliable, affordable, and well-equipped to handle all popular payment methods. Your Boost 360 website comes with a secure payment gateway which allows you to accept payments through multiple modes like credit card, debit card, netbanking, UPI and all popular mobile wallets.

Step 07

Launching the business

Before launching your business, you need to ensure that your logistics are in place. See that you have proper inventory so that you can sell online. Once the business has taken off, focus on providing a good customer experience so that your buyers are encouraged to keep returning.

Your e-commerce company's success will depend on maintaining sales volumes and healthy margins. The typical gross margin for online sales is 20-50%. But since each industry is unique, you should fix your own pricing strategy. Finally, don’t forget to analyse your business performance and make adjustments to your strategy as required.

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