How to Start an eCommerce Business in Bangladesh

In Bangladesh, the online business of e-commerce mainly is very popular, trending & rapidly growing today. From governments to multinational companies to one-person start-ups, e-commerce is increasingly viewed as a key business modality of the future.

Depending on your goals, it might make sense to start an eCommerce business. After all, without the need for a brick-and-mortar location, e-commerce businesses offer greater flexibility, affordability, and opportunity for many entrepreneurs. So how exactly do you start an online business? This guide is here to help.

What is an eCommerce Business?

An e-commerce service business is any business that buys and sells goods or services over the internet. Ecommerce businesses will digitally transfer money and data to execute these online transactions. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer, or consumer-to-business.

As the order is placed, the customer’s web browser will communicate back and forth with the server hosting the e-commerce website. Data pertaining to the order will be relayed to a central computer known as the order manager. 

The first step to building an e-commerce store is knowing what products you want to sell direct-to-consumer. Research your product. What you need to do as the next step is to research your competition, then write a business plan like deciding a name, creating a logo, then selecting a business channel, or going solo (Which costs a lot of effort) and go down the smart way.

Is eCommerce Business Really Reliable?

Ecommerce business is quite more cost-effective than traditional commerce as you don’t require to pay a middle person or say a third party to sell your products. So you can save the money and can invest it in the betterment of any other aspect of your business.

Even the most important e-commerce websites such as Amazon, and eBay have already faced major issues in terms of reliability and unavailability, their sites can be “Down”. Those issues can come from a network error, a database issue, or even a hardware breakdown.

So it is important for the merchants that they make their e-commerce service polished and as reliable as possible. Because there’s always a chance of being accused of being a fraud. 

Best Way to Start an eCommerce Business

The famous bank robber Willie Sutton was asked why he robbed banks. His answer was simple and direct “ Because that is where the money is”. E-commerce is important in business because that is where an increasing number of customers are. 

Joining an established marketplace is an easy way to start an eCommerce business or sell products/services online. Joining an eCommerce marketplace as a seller often requires only a bank account and VAT registration, making the process easy and simple.

1. Research eCommerce Sites & Choose Your Niche

Beginning your research is the first critical step. Don’t operate off of a hunch.  Growing any e-commerce service is an investment. Treat it as such. There isn’t a single business structure that works for everyone. Before you can decide on what to sell online, you need to understand the different business models available.

It’s not rocket science, but it does impact your business structure. Choosing your niche is the most important step in opening your online business. Start this process by identifying successful companies already working in this space.

Make sure that the area is competitive – an absence of competition usually indicates that there’s no market, either. Unless you have a massive budget, you can’t be the next Best Buy or Amazon. You have to niche down to run a profitable eCommerce store.

Choosing your niche is the most important step in opening your online business. Start this process by identifying successful companies already working in this space. You’ll want to consider what exactly your eCommerce business is going to offer. Will you be selling products or services?

If you’re selling products, are they physical or digital? Where will you source your products? You’ll also want to think about the type of business model you want to employ. you’ll want to investigate the e-commerce area you’re interested in and make some decisions with regard to your specific business.

Do brainstorming. It’s a creative technique for finding business niches. When you do it, make sure you have a pencil and paper to note down all the business niches. Talk with your friends. Maybe they have different types of niche ideas that you did not think of. Select a few names that you think will make more money than other businesses do.

Think about the future demand for a product. When demand goes up, you sell more of it than you used to in the past. As a result, your profit goes up. So, if you can predict the future demand, if it goes up or down, you can make investments in that business accordingly.

2. Try to Select Products According to Trends & Season

The eCommerce business industry is always changing and this year has been no different. More than ever, merchants are creating and/or improving their eCommerce businesses to meet customers where they are. Everything in eCommerce is evolving, you need to narrow down to the biggest trends that will affect businesses in the coming months and years. 

It’s worth paying close attention whenever you notice common frustrations with an existing line of products. Being keenly aware of the pain points and small annoyances you come across in everyday life could be just what you need to come up with your next profitable product idea.

Recognizing a trend early enough can be a significant win for a new business. It allows you to carve out a place in the market and establish yourself as a leader before others have a chance to. A trend, meanwhile, is something that fulfills an existing need in a new way, which is why their demand holds for much longer than a fad.

3. Select a Name for Website & eCommerce Business

Choosing a domain name for your eCommerce website is one of the most important decisions you’ll make for your business. Your name is the first piece of your brand users will experience and serves as a symbolic placeholder for your business in the minds of users.

You’ll also need to make sure that the domain name that you choose is available for purchase, and that it’s identical to (or closely matches) the name of your brand or business. What concepts and feelings do you want your store’s name to invoke? 

Choose a domain name that customers can easily remember. An unregistered domain won’t cost much, but an established domain might be expensive. When coming up with ideas for names for your eCommerce site, you can sit around and wait for inspiration to strike, and then hope your domain is available.

It would be better if you choose a name that will represent the product type and product name you want to keep on your website and a Bangla name. Collect all the building blocks for your brand name, differentiate from competitors, select and combine the words, and run a brand-ability audit. 

Put down the first few words that spring to mind. Write down everything: words, non-words, phrases, character sequences, or syllables that just sound good to you. Meaningful or meaningless. Get a tagline, taglines are really important. Because these are the catchphrases people can remember.

List competitors’ names and try to figure out what they convey. It’s a valuable exercise especially if you have missed out on your brand’s market positioning and got ahead of yourself by jumping straight to naming. A smart approach to naming can help climb the ladder faster.

4. Buy Domain & Select a CMS Platform

A CMS platform (content management system platform) is a piece of software that allows you to easily manage content and create a website. Normally, web pages are written in HTML, JavaScript, and CSS programming languages. If you were to build a website without a CMS platform, then you would need to learn these languages and write a lot of code.

The first mistake many people and organizations make when choosing a content management system is that they overlook the long-term cost of an inexpensive solution, underestimate the amount of work it takes to manage a good content management system, and forget to align their team’s needs with the CMS’s capabilities.

There are lots of different CMS platforms out there, so which one should you pick? Before you jump to a CMS platform comparison, here is what you should look for in a good CMS. It should be quick and straightforward for you to make changes to the content on your site after publishing it.

Although CMS platforms aim to make building a website as straightforward as possible, you still might have some questions. Find out what help and support are available if you get stuck. The right CMS will have a big supportive community that can help you any time of the day or night.

One of the first things you should do when you’re implementing a new CMS or rolling out a redesign is to bring all of your stakeholders into a room and gather their requirements and input. Failing to plan is planning to fail. Half the battle is developing a well-thought-out content organization and taxonomy that helps your business meet its goals to succeed.

Every website on the internet has an IP address. These addresses point to a website’s location, think of them like GPS coordinates. The IP address, which is generally a set of numbers, usually resembles something like 123.45.67.890 in a disorganized order.

Unfortunately, trying to remember all of those numbers in order to navigate a website can be challenging. That’s where domain names step in and lend a hand. A structure called the Domain Name System (DNS) translates those IP addresses into names that are (hopefully) simple to remember. Those names are called domain names.

Your website’s domain is what people enter into the address bar on their browsers to point it toward your website. In the simplest terms, if an IP address is your website’s GPS coordinates, the domain is its street address. Some examples are wrapupbd.com and google.com.

When someone types a domain into a browser, it gets routed through a DNS server. That server translates the name to figure out which IP address it points to. Then it grabs the data for that website and delivers it to the browser. To make the best choice, you need to first understand the anatomy of a domain, which is made of two main parts — a second-level domain (SLD) and a top-level domain (TLD).

A second-level domain is what most people think of when they think of the name of a website. It’s the unique name that you choose to represent your brand because it’s the part that people will remember the most. In a web address, and SLD appears just to the left of the extension, or top-level domain. It can contain as many letters, numbers, and special characters as you want, but it’s best to keep them short and easy.

Top-level domains (TLDs) are also referred to as domain extensions. They’re the series of letters that appear at the right of your SLD, after the dot. The most popular ones include: “.com” (short for commercial); “.net” (short for network); “.org” (short for organization); “.edu” (short for education); “.gov” (short for government). There are also TLDs for different countries “.bd” short for Bangladesh; “.in” short for India; “.pk” short for Pakistan, etc.

5. Create a Website

Building an eCommerce site may be simpler than you imagine. There are now eCommerce solutions that do most of the work for you, but you still need to understand what’s offered and what your site needs. If you do enough research, you can make decisions that lead to a magnificent site that grows and evolves with you in the years to come.

You need to select your perfect eCommerce platform, then you need to purchase a domain name, find a developer, pick your eCommerce theme, customize your eCommerce template, finally add your products, set up payment options, and Sort out your shipping settings. Now preview, test… and publish your online store 😉

6. Create Social Media Pages for eCommerce Business Marketing

Social media and eCommerce are a match made in heaven. Marketers have been using social platforms to connect with eCommerce customers for a while now. And for a good reason — more and more internet users shop online and use social media to research brands. Social media eCommerce marketing is the broadest term of the three and can include elements of both social commerce and social selling.

Building brand awareness is a process, and it does take some time. If you wish you could speed things up just a bit of paid social can help you do just that. Most social media platforms offer advanced targeting tools you can use to carve your perfect audience out of this bulk and serve them ads that will support your goals. 

If your goal is to build awareness or engage your target audience, you can pick an objective from the Awareness or Consideration categories. But just picking the right objective doesn’t quite set you up for success. You also need to choose the right ad format for your campaign on Facebook, Instagram, and youtube.

7. Product Photography for Good Looking

Unlike in brick and mortar stores where shoppers can touch, feel and get a 360-degree view of any product they’re thinking of buying, the decision to purchase online relies heavily on the product images used to convey this same information.

In fact, 93% of consumers said that images are essential in their purchasing decisions. That’s not the only reason they’re so important though. Excellent commercial product photography also helps with image SEO too – something that search engines are increasingly focusing on in their algorithms.

The product photograph usually features product features and details, with accompanying product descriptions and supplemental pictures. Product photography is not limited to capturing the product images but includes editing, maintaining the brand persona, and selling the garments through images.

Product photography will influence your store’s conversion rate and revenue. So this article gives you a deep understanding of what product photography is and why it is important. A high-quality store image can significantly enhance the customer experience on your website.

There are two basic photography types, which are,

• Product-only images: Products on a white background.
• In-context mages: Products being used in a real-life situation.

Images are the first thing to catch customers’ eyes, create trust and encourage them to click further. Images, including posts on social networks, websites, and all marketing materials, are the “look” of your brand. Through all elements of the image (theme color, quality, subject, text, edit), your brand speaks to your target customer in a transparent and consistent voice.

8. Find a Good Packaging Service

Packaging in the eCommerce business is the first impression customers get of your products. The world of packaging is deceptively complex, especially as an eCommerce shop, when considering the different packaging options, you may feel overwhelmed with the selection.

Here at WrapUp BD, we’ve put together a comprehensive list of the main things you need to know about packaging. We’ll cover the different packaging types, the available printing options for each, typical use cases to help you understand which is best for you, and some examples.

The first step to choosing the right type of packaging for your eCommerce shipping is to understand your options. Each different type of packaging has its pros and cons. We understand that eCommerce packaging is now a marketing tool in its own right and it embodies your brand. So we help our customers to stand out in a crowded market and deliver memorable experiences to their customers.

Your package design can enhance your customer’s experience and improve your profitability. It’s essential to understand your options so you can make the best choice for your business.

First on the list is the box or bag all your products will be packed in. It’s what your customer will see first when they receive the product delivery. In the past few years, due to rapid eCommerce growth, packaging material has become one of the biggest contributors to global waste. To fight this rising issue, there are now many sustainable packaging options on the market.

The type of eCommerce packaging that best suits your products depends on several factors. The first is weight. For heavier items, a sturdy box is needed to ensure safe delivery. The second is breakability. A fragile product, even if it’s lightweight, needs protection during shipping. The final factor is the value of the product.

• Corrugated Box

You can make some vibrant colorful product packaging boxes from us. You need to take care of the branding as much as the quality. Because the product packaging box design may make it to your customer’s subconscious priority list, thus they may even keep their cookies in the box, or even use the box to keep their precious little secret archives and charms in the box.

Packaging is one-way retailers can stand out from the crowd. Depending on your audience, it might involve a clean, minimalist corrugated paper box or something with a vivid print inside. It’s also an opportunity to surprise or entertain a customer. Personalized packaging might encourage customers to share a photo on their social channels for example.

• Bags

If your company sells ‘light but not fragile’ products, shipping with poly mailer bags is a great option. These bags are made of a durable, and recyclable, polyethylene film. They’re water-resistant and offer a good amount of protection for a low price. Poly bags (sometimes called poly mailers) get their name from the type of plastic used to make them: polyethylene.

They can range from single layer to gusseted poly bags, with a variety of different closures. What they have in common is that they’re lightweight, flexible, and financially friendly. Bubble packaging bags are a fantastic choice for sending media like CDs and DVDs. They fit comfortably within the bubble poly mailer bags, where they are more protected from damage and hard handling compared to if they were in a nonpadded envelope.

Now that you have your packaging under control, it might be time to take a look at your customer’s experience on your site. An e-commerce service platform can make your site easier to edit and a more enjoyable experience for your customers.

9. Contact a Courier for Delivery

When it comes to selling online, one of the most important aspects is finding the best courier service to grow your business. You need to ensure that you provide a positive shipping experience. Once your customers are content with the delivery of their items, you’re more likely to enjoy an increase in repeat sales and be able to build a better online reputation that can result in more first-time sales.

You need to keep some things in mind while choosing one. The speed of the delivery, the size, and weight limitations, proof of delivery, customer service, the cost to value, and courier insurance. It’s important to understand that the most affordable solution may not provide the best service for your customers.

10. Find the Right Digital Marketing Agency to Start Your Sale

A digital marketing agency offers a variety of services to the e-commerce service like eCommerce Management, Performance Marketing, eCommerce SEO, eCommerce PPC Management, and overall growth. They don’t just bring a fresh perspective and technical expertise to the table, but they also offer a range of services that you may require. They offer care and maintenance packages, and will generally ensure that your website remains up to date.

Hiring a digital marketing agency is essential if you want to keep your website competitive. There are a few factors to consider before you hire a digital marketing agency, which are:

• Experience and Expertise

The more experienced an agency is, the higher its expertise is likely to be. Thankfully, it’s easy to determine the kind of clients an agency has worked with in the past. You can set an appointment with them and ask any questions that you may have. This will give you an idea about their overall expertise.

• Reviews and Testimonials

You should also search for the reviews of each eCommerce-centric agency that you are thinking of hiring for your business. Let’s say you have searched for an agency online. After checking out its portfolio and the location, you show interest due to its impressive track record.

• Budget

Before you start searching for any agency, make sure you have a defined budget. With an optimum budget, you will be in a better position to negotiate the services that the agency has to offer. You can always get in touch with the digital marketing agency and they will give you an estimate based on your requirements.

• After-Sales Service

After-sales service plays an incredibly important role in making a decision about which eCommerce agency to hire. You can check the company’s reviews to see if it takes its after-sales service seriously, and remains in touch in case a problem arises. You really don’t want to work with a marketing agency that stops responding once the project comes to a close.

• Approach to Work

Now that you know about the work that the eCommerce-centric agency will offer, you need to find out their strengths. It is important to find the strengths so that you get the best service for your eCommerce business. It’s usually better to hire eCommerce agencies instead of bringing on an employee.

For starters, the work will be done by experts you don’t regularly have to pay. When you bring on an employee, you’ll often have to train them, as well as consistently pay them. On the other hand, eCommerce agencies just charge a fee based on the work. If you are not satisfied, they will make the changes accordingly. If you really need a recommendation then we will suggest Ranking Booth as an all-around Digital Marketing Service for your website. They are humble, hard workers, and dedicated to their work. They have a good reputation locally & internationally.