Today, we’re going to take a look at some of the most popular ways to make money with an e-commerce store, from dropshipping to paid advertising to wholesaling and more. Let’s dive in!
1. Start from Your Passion
Some might say you need a good business idea to make money, but starting from your passion is far more effective. If you love shoes and have an eye for style, selling shoes online might be your answer! Many people think they can’t make money selling something they love — but they couldn’t be more wrong. The most important thing when it comes to making money online is having a unique concept that nobody else has thought of yet. With so many e-commerce stores on the internet, why would someone want to buy from yours? Because you offer something different. Think about what makes your passions unique and then find ways to apply those passions in a new way. Maybe you love reading; make books available online or start a book club on Facebook! It doesn’t matter if no one has done it before — just do it better than anyone else out there doing similar things. That will make all of the difference in making money online as an e-commerce store owner.
Why should I buy from your store? If there are other options out there that sell products similar to yours, how will you convince customers that they should choose yours over theirs?
2. Find a Niche
First and foremost, before you launch any business, you want to make sure you’ve identified a gap in your target market that would benefit from what you’re planning on selling. As Michael Hyatt has said, Scorpsoft found its target market by doing market research. This is how they did it: Scorpsoft looked at what was popular on similar Web sites (what our potential customers were clicking) and began analyzing that data. Through my Internet research, I determined what these people liked about certain products and services. The next step was pinpointing why they liked those features. For example, if there was a lot of positive feedback on customer service or a low price point, we knew that must be important to them. We then took all of these findings and made decisions based upon them for our own site.
Scorpsoft was founded out of necessity, notes Shoaib Nasir, director of online marketing for Scorpsoft. At first, we started off making themes as add-ons for WordPress because we needed them ourselves. But as soon as we realized other people needed them too — well — we just couldn’t help ourselves!
3. Choose Products Wisely
Choosing products that are unique and have a high-profit margin is absolutely key to making money as an e-commerce store. Of course, if you’re starting out, it may be tempting to choose any old product you can find in bulk; however, choosing products that sell themselves can make all of your marketing efforts much more effective. Find top-selling products and get them ready for Amazon so your customers never even have to leave your site. The best part about choosing products wisely is that doing so will actually help attract more traffic. Customers are far more likely to trust a store that sells quality goods at reasonable prices than one that doesn’t — and will also be more likely to share their positive experiences online, which can help drive traffic in a very organic way. It’s always good to make sure your products are great, but it’s especially important when you want to make money online.
4. Keep Track of Inventory
Being able to monitor your inventory is important if you’re going to make money as an e-commerce store. You need a way of making sure that you have enough product on hand, but aren’t wasting money carrying excess stock. On top of that, you need a reliable way of keeping track of returns and making sure they don’t inflate your sales numbers for too long. Making money online starts by knowing what products are actually selling and being able to adjust based on demand.
ScorpSoft can help you out here. The program allows you to take full control over your inventory, including entering items manually or uploading them directly from Amazon (it supports more than 800 file formats). The interface is intuitive and well designed, so it won’t take much time to get used to it. It also offers advanced features like detailed reports, analytics, and tracking tools that make business management easier than ever before. If you want to learn more about how ScorpSoft can help your e-commerce business thrive, check out our website today!
5. Use Digital Marketing Skills To Expand
In order to make money as an e-commerce store, you need a combination of digital marketing skills, business acumen, and plenty of passion. But it is not impossible! In fact, for those who are driven enough to succeed in e-commerce, it can be highly lucrative. If you are interested in making money online with your own business but aren’t sure where to start, take a look at our list of some easy ways you can make money as an e-commerce store owner. Each one on its own might not make you rich, but combined they could be a great source of income for someone who knows how to work them effectively. With these tips from ScorpSoft, you will learn how to make money online by using your existing knowledge and resources effectively. The top 5 ways to make money as an e-commerce store are:
- Amazon Affiliate Program
- Shopify
- Private Label
- eBay Arbitrage
- Facebook Advertising
1. Amazon Affiliate Program You probably know that Amazon is a great place to make money online, but did you know that there are specific affiliate programs designed just for bloggers? Using their affiliate program allows you to promote products through your website or social media accounts without having to directly sell anything yourself. This means that if anyone clicks through from your website or social media account and buys something on Amazon, then you get paid a commission fee! For example, if someone clicks through from Twitter and buys $100 worth of items (the limit), then Amazon will pay you anywhere between 4% — 8% depending on what type of product it was. It’s super simple to set up too. All you have to do is create an account, click get approved, and then paste your links into a text box provided on their site. Then all you have to do is sit back and wait for people to buy things through your links! It’s really that simple! To find out more about how Amazon works, check out our guide here!
2. Shopify One of the easiest ways to make money online with an e-commerce store is by using a platform like Shopify. There are many reasons why we recommend choosing Shopify over other platforms like WordPress or Magento, but we’ll keep it short here so we don’t bore you with details. Instead, we’d rather focus on what makes Shopify such a great tool for making money online. First off, it’s super easy to use. Anyone can pick up and use Shopify within minutes because everything is laid out nicely in front of you. Second, it’s very secure and reliable because all your data is stored on their servers instead of your own computer (e.g., desktop or laptop). Thirdly, there are tons of features that make running an e-commerce store easier than ever before! From built-in payment processing solutions to SEO tools that help boost sales and more… Shopify has got you covered when it comes to making money online! Check out our full review here!
3. Private Label Another way to make money online with an e-commerce store is to private label your products. This means that you are going to manufacture and design your own unique line of products that you can resell on Amazon, Etsy, eBay, and/or your own e-commerce store. This is a great option for entrepreneurs who want to make money online but are looking for something a little less hands-on. Of course, it does require quite a bit of research and development in terms of designing and manufacturing your product, but once you’ve done that, it’s smooth sailing! Check out our complete guide on private labeling here.
4. eBay Arbitrage Finally, another way to make money online with an e-commerce store is through arbitrage. This is a great strategy for e-commerce store owners who are on a tight budget and can’t afford to spend money on advertising. What you do is search for products that are selling for cheap on sites like eBay, then purchase them and re-sell them on your own e-commerce store. This requires a lot of time, patience, and research, but it’s also an extremely effective way to make money online with an e-commerce store!
5. Facebook Advertising Finally, another great way to make money online with an e-commerce store is through advertising! This is a great option for business owners who already have a solid following or following base on their social media profiles.
