One of the best online businesses to profit from in the new year, especially for non-techies remains e-commerce.
While e-commerce is not without its challenges, to achieve the desired results, it must be strategically approached with lots of precision at every stage and we are going to be exploring some of the techniques that will help you scale your business and get good results.
Trust me, the road map to making 1 million in e-commerce sales will require a handful of key insights as earlier noted, but in this guide, I’d make sure to hand you the reader a proven method that has gotten other results and still works when it comes to e-commerce.
1. Finding Marketable products
Finding the right product is a very important aspect of the business, it is very key to know what marketing moving products.
People like products creative and innovative new products designed to make their life easier, or add so much value to an important part of their life; be it their business, family, or work.
Trust, this is not the time to pick something that has to do with your passion, remember this is not about you. You are looking for products that address practical solutions and have a sizable audience willing to throw their money at easily.
There are lots of ways to find these.
Most importantly you must be ready to do a lot of product research work.
You can start by picking a niche. Then start looking at some innovative and trending products that are just gracing the market.
You can also check online sources such as Facebook ads library, Facebook marketplace, Instagram, Aliexpress, TikTok, and more.
Example product ideas are;
Affordable engagement wedding rings and bands,
While you are focusing on finding trendy and culturally innovative products consider going for items that are durable and reliable. This is because you’re not in business just to make gains but to grow a sustainable business that can make a profit.
2. Product sourcing
When sourcing products for your Nigerian eCommerce venture in 2024, jettison importing, especially if you’re just looking to make your first one million naira in e-commerce.
Instead, shift your focus to sourcing your products locally, trust me, some importers have done the hard work of product sourcing already, they’ve done all the quality assessments to make sure they get reliable and quality products that will fit well for the Nigerian market.
So sourcing locally is a better option than importing, it will help you to comprehend market availability and product durability.
Next, you want to explore renowned markets in Nigeria, like the Balogun market on Lagos Island.
You can schedule visits to the market, and do research beforehand to know the areas of the market to find the suppliers of your type of product.
It is important to establish connections with top suppliers.
Attend with a serious intent to negotiate and, in some cases, make substantial purchases to demonstrate commitment and they you mean serious business, of course, some of the suppliers make millions per day and have enough customers on the ground to cater to, so if you are just coming to them with your dropshipping plan, they may not give you ample attention to hear out your business idea and know how they can come in.
The way to nail this is to show readiness to buy or pay.
Also, make sure to exchange contact details and build relationships.
It will help to diversify your risk by engaging with more than two to four suppliers, you need a steady and reliable stream of products for your e-commerce, and you don’t want to be out of stock when your ads are still converting. So take note of this.
Following this product sourcing approach carefully will enhance your market understanding, and also foster local connections with reliable suppliers of your product, that way you are on the path to building a sustainable business model.
3. Create a unique brand identity
Since I’m selling a local product, do I still need to brand it? Madam! Yes, you need to!
But I understand what you’re thinking, you’re thinking of how much money you’re going to have to commit to this, do not worry, we are here for you.
Your branding doesn’t have to cost a fortune. The most important aspect is taking care of how your brand is perceived by your prospects from day one.
There’s more to this than just creating a logo and a slogan for your business, This is about building a brand that strongly resonates with your audience.
I can assure you that every ounce of resources allotted to crafting the ideal brand presence for your business is going to be worth it in the long run.
The first step would be to come up with a proposition that has a unique value, you may not necessarily be the first selling the type of products, but you must essentially have what sets you apart from other brands.
First, think about the things that made your products outstanding, that you’re even proud of.
Is it that they are made by trusted and skilled artisans (this works for handmade products), or is it the quality of material, build, and finishing of the product? or the mix of traditional and modern designs that you’ve taken time to sort, or your efficient order fulfillment.
It is important to have a list of them and proudly communicate them via your marketing channels at launch.
Before we leave the subjects of branding, we need to emphasize the need to make designs that are visually appealing across your touchpoints; including a standard logo, and other visual elements for online and social media presence, this might include, banners, social media posts, ad creatives and more.
For this, we remain your most reliable growth partner, we can handle your branding identity from start to finish, style up your social media channels and make sure your brand is memorably perceived by your customers.
4. Set up your marketing touchpoints
Social media channels
To propel your e-commerce business, the next step involves setting up robust social media touchpoints to start engaging with your audience through platforms like Instagram, TikTok, Twitter, and Facebook, etc.
E-commerce websites
You, also need to create a conversion-focused website with well-tailored content that for your prospective customers.
You can either go with Shopify or Woocommerce depending on your business needs.
Ultimately, you’d need an e-commerce site that prioritizes easy customer journeys and overall user experience.
We focus essentially on making navigation seamless, shortening and easing the checkout processes efficiently.
Marketing your products is not just about throwing money at Facebook ads.
Strategies to enhance your marketing efforts must be in place.
An example is the need to add the Facebook pixel to monitor ad campaigns, metric testing, gain valuable insights for product optimization through Google Analytics, and make sure the order fulfillment process is seamless.
Take things yet further, by fostering trust by including customer reviews and testimonials on your website.
Regularly update and refine your online presence, aligning with evolving market trends for sustained success in the dynamic Nigerian e-commerce market.
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