The 8 most common mistakes when opening an online store

1. Set up the virtual store before validating the deal

Research is the basis for starting a business, whether physical or digital. Therefore, before setting up your store, it is important to know  what you are going to sell and to whom . With this in mind, it is possible, for example, to analyze the competition.

This research process is called benchmarking, and with it you can define what the public is looking for and the efficiency of the actions of each company in the field. Analyzing the scenario of competitors, you can find and deliver to the customer the standards he expects, you are able to predict possible crises and even assess whether your idea is really viable .

2. Mistakes in negotiating with suppliers

Being sure of the quantity and which product you are going to buy is essential in a business. After all, this greatly avoids the risk of falling into “holes”. In this case, the ideal is  to talk to more than one supplier  before closing the deal, in addition to listening to each one of them carefully before giving any information about your store, such as proposals and strategies.

Being very careful when making the choice and acting rationally, always thinking about the good of your business is very important. Another thing to consider when making an agreement with a supplier is to be faithful, but at the same time make it clear that the relationship is not permanent. That way, in the event of an unforeseen event, you can switch suppliers without any legal problems.

3. Not paying attention to customer relationships

This is still a common mistake in the midst of digital commerce, especially when the owner’s main focus is the product rather than the customer. The problem is that this has consequences for the store, such as  losing the customer to the competition. Surely your company doesn’t want that, right?

So, so that this problem does not occur, it is important to always take into account the need to adapt to the customer’s experience, respecting his time, personalizing the service, and preparing the team for the sale and also for the after sale.

4. Ignore cash flow

It is extremely important to maintain financial control  of your company, as it is what will make your business give the financial return. To get started, it is essential to know how cash flow works. It is not just the physical money that the company has, it is the combination of all cash in hand plus the possible short-term investments that the company is involved in. Expenses with employees, suppliers and site costs, for example, are also part of this account.

In addition, the  daily update of the cash flow  helps to keep the accounts in order, because in case of adversity it is not necessary to review the expenses as everything will already be recorded. The use of business financial management software can help a lot when it comes to finding your store’s cash inflows and outflows, as well as categorizing cashier entries.

An out of the question attitude when producing a cash flow is to consider values ​​that are not yet part of the revenue. Never update your cash flow with an inflow and outflow of cash that has not yet occurred, this can turn your cash flow into a mess.

5. Not choosing the appropriate sales platform

Knowing where your virtual store is located and if the platform supports all your needs is extremely important so that you can bring the best content to your customer and grow. So, before choosing, research and  take into account the complaints, analyzes and comments  of users from different platforms, make comparisons, study each one of them in depth to choose the one that best fits your proposal and your pocket.

6. Calculating the wrong selling price

As in any other type of commercial establishment, it is necessary that when selling a product you know everything about it in detail. Knowing your product is one of the first steps to take before thinking about opening an online store. Do  market research  to find out everything about the product, from costs, expenses, and even customer interests. Often the market works through demand and demand, and your product has to fit this duality. It’s no use wanting to sell something that only you would buy, try  to combine the useful with the pleasant  and to finally have a successful trade.

7. Ignore Marketing Strategies

Digital marketing has not been receiving its due value, but it is what brings relevance to your store in the market. You can’t expect someone to come to your online store, go after your customers. Often this search takes place on social media, and it is extremely important to know how to deal with your audience on it to avoid mistakes.

Paying attention to your customer is to cultivate next purchases. Reply to comments, directs, and repost stories they make with your product. All of this will generate loyalty and make this organic advertising reach other people interested in your product.

8. Not adapting to mobile devices

In recent years online shopping has migrated from the computer to the cell phone and/or tablets. According to the Web shoppers survey in 2019, cell phones dominated 40% of online sales.

So, it is essential that your website is responsive, that is, it can adapt to different screen sizes so that the customer has a great shopping experience regardless of the device they are using.

E-commerce must have specific layouts for those who access the site through mobile devices, such as using only essential elements, larger buttons, and easy information insertion, such as auto-complete, numeric keyboards, and social logins.