By: Nicole Martins Ferreira
Congratulations on becoming a store owner. Building your own business is a fun experience that pays off – literally. Being a new entrepreneur is exciting because everything is new. However, sometimes, new entrepreneurs get a little too excited about the wrong things. As an experienced entrepreneur, I’ve made my fair share of mistakes. That’s why I created these 50 ecommerce tips for new entrepreneurs like you, so you can get on the right track from the beginning and actually make some money on your new store.
Ecommerce Tips (#1): Experiment like your business depends on it.
To really succeed, you’re going to need to experiment a lot. You’ll need to create ads for different products. Test different copy, formats, and images. Experimenting with ads is what will eventually bring in customers and drive sales. Once you’ve created profitable ads you can start experimenting on your website. Many people focus on improving their website first. However, you don’t know how customers are responding to certain features if you don’t have any yet. Avoid making assumptions about your customers. Be open to being wrong about what really works – you won’t know the truth until you look at the data.
Ecommerce Tips (#2): Don’t pocket the profits just yet.
It can be tempting to keep any profit you make. However, if you want your business to grow, you’ll need to reinvest money into your business. Money makes money. Instead, of making a purchase to buy new equipment, spend your profit on advertising. You’ll probably want to create several $5 ads at first to see which product people respond to best. However, once you’ve found your winning product, you’ll need to spend a lot more than $5 to make the kind of money people dream of.
If your goal is to make $3000 profit each month, you’ll need to spend about $3000 on ads, which will bring in roughly $9000 in revenue. Boosted Facebook posts convert best for my business but you’ll need to find the type of ad that works best for you. By reinvesting the profit for several months, you give your business a chance to grow and become sustainable. Eventually, you’ll be able to live off the money you’re making.
Read More >> https://www.oberlo.com/blog/25-ecommerce-tips
