The ecommerce industry is fast becoming one of the most important and the fastest growing industries of the world will thousands of websites being launched on a daily basis. India alone has an internet user base of more than 350 million users and potentially has a huge potential in terms of internet based product sales.
An increasing number of entrepreneurs are now considering going the internet way and to develop an ecommerce portal of their own to promote the sale of their products and services .Whereas with the proliferation and the improvement in internet technology , starting an ecommerce portal is not as difficult anymore but a little knowledge is required regarding the use of correct resources to maximise the e commerce site performance and to minimise the costs involve , which at times , can be quite substantial .
Let us discuss a few ways in which you can save quite a substantial amount of money while starting your online ecommerce venture:
- Save money on registering a domain name: Try getting a different host and a domain registrar. Most people go to the same domain host for their domain registration but if you explore your options a little bit and find a good host at one place and a great domain registrar at another place, you should go with it. In the long run, it can save you a tonne of money at the same time providing you a security advantage since if someone, somehow gets an access to your hosting account, your domain name will still be safe.
- Save Money in Selecting a Web Hosting Service: The web hosting service is the backbone of the online store and is a must for all websites but a lot of money can be saved if researched correctly. One of the most practised ways of saving money on web hosting is by not having a dedicated hosting in the initial stages of the setup but sharing the hosting service and taking a call on having a dedicated host once the business starts achieving traction. It is also worth mention that choosing a hosting service that allows customization can be a great money saving tool, should you plan to do your own programming at a later stage.
- Saving Money in Designing the Website – You active participation in the design work can decrease the bill of the money spent in designing your website. Because most designers charge on the time spent, if you do a little research and formulate your own plan about the look and feel, the order flow and the other ninny gritty of web design. It will also save you time later on repeat reviews and repair of the website design content. You must provide inputs on the colour combination, the placement of tabs etc, make the job of the designer easier and save some quick bucks while at it.
- Try and get a package of Services – We all know that packages cost lesser than individual products. Should you really want to have an e commerce site quickly , there are many services that offer a platform for an online store that can be up and running in as little as a few hours and at a very low cost. This way you can do away with the need to hire a web designer or to enter the world of complicated coding, but still be able to put up your product for sale in a very short period of time .Although some All Inclusive sites do have obvious limitations to work within their own system, but still at the initial stages, it can save a lot of money
- Use Affordable Advertising Solutions – Online presence and customer acquisition are rather expensive propositions for a new online business and can be a strain on the cash flow in the initial stages of the setup. Online Social Media such as Face book, Twitter and Instagram has become the new age advertising medium that can make your business reach an extremely large number of prospective customers quickly, efficiently and with a very low or sometimes no investment. These social media platforms can be used effectively for reaching your product to a particular group or demographic profile too just by a simple selection.
At the initial stage of setup of an online company, it can be a very effective tool to find out what the customers think of your product, its demand and scalability etc and can have a very positive long term impact on the product sales and profitability.