SELL THROUGH ECOMMERCE. ONLINE STORE
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What do we have to do before launching eCommerce projects?
Information prepared by Jorge González Marcos on the basis of extensive experience in eCommerce projects and the knowledge gathered in the eCommerce business website. Nowadays, there are a multitude of tools and techniques that allow us to analyse an existing eCommerce or a new eCommerce project and to assess the viability of the same developing a good eCommerce project.
We have identified a process divided into 5 concrete phases that will allow us (with a lot of work) to specify all the information necessary to have a good approach to any project.
In this post you can find the basics for him, some examples of business plan eCommerce and, additionally, we leave you a link to the posts with the tools created for each of the projects. The magic of digital media is that everything is measurable and, with a good analysis, the chances of a successful project increase.
It all starts with a good initial Business Plan
In many cases, we find that a large number of projects do not have a good initial Business Plan that allows a real assessment of the project's profitability possibilities in 1, 2 or 3 years. We firmly believe that a good initial analysis would help to avoid projects being set up differently, increasing the chances of success.
THE FUNDAMENTAL ELEMENTS THAT ANY ECOMMERCE PROJECT ANALYSIS / BUSINESS PLAN SHOULD CONTAIN:
- Initial project description.
- Analysis of the local environment for the specific project.
- Determination of the main Keywords of the project using a tool similar to SEMRUSH.
- On the basis of the project's main keywords, determine the competition.
- Analysis of the competition in terms of their online presence (shop, websites, social networks, management of emailing campaigns...).
- SWOT initial attempt to quantify the points developed as much as possible.
- CANVAS initial.
- Clear description and quantification of Buyer persona.
- Setting basic Ecommerce objectives: customer acquisition cost (CAC), target, sales, visits per traffic source, % conversion per traffic source.
- Initial design of the initial strategies to achieve the recruitment objectives (visits) designed considering the levels of investment per strategy, the sales derived one by one... We recommend the quantification of a Cost of Acquisition for each of the actions so that we can determine the priority of the actions based on this Cost of Acquisition.
- Finally, generate a good 3-year forward operating account / budget in order to have an overview of the possible cost-effectiveness.
Below you will find a series of links / posts that cover an important part of the points we have just discussed and completed. In most of them you can find tools that will help you in your work.
ECOMMERCE PROJECT: GENERATING A GOOD OPERATING ACCOUNT FOR AN ONLINE SHOP
And in the end everything is consolidated into a single budget by completing all the above steps. You can visit this post for more information.
In each of the phases of the development of the Ecommerce project we attach a series of related posts that we have been publishing in Ecommerce profitable that will help to develop each of them.
Ecommerce Project: Creating a good SWOT and a Canvas
Well-known tools that are widely used in academic environments and that we do not usually use in the real world, but that can help us to structure the information in a very clear way.
We emphasise that, in the case of an existing Ecommerce project, this work can NOT be done without access to the company's analytics and especially to this information from traffic sources with information as important as the % conversion rate.
Ecommerce Project: Narrowing down the project objectives
Possibly the most important phase of the project development, for this phase we have developed this specific post very comprehensive.
Ecommerce Project: Determining the actions to achieve the objectives
Actions is the way to land our objectives. If we take the objective of increasing traffic by 100,000 visits per year and we consider that 30% will come from SEM we will have to limit for SEM campaigns.
- Which Key Words are we going to use with tools such as Sem Rush?
What will be the investment we will devote to this entire action?
In what timing?
What will be the % conversion for concrete action?
A professional review of the project is very important.
And finally, once all the proposed points have been made, it is important to have a professional who, on the basis of their experience, review the project and validate (or not) the final proposal...
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