Faisal Zia Anwar .
There are four stages of building an online business in E-commerce.
- THE FOUNDATION: This is the part of the business where a business owner sets up the perfect team, setup and optimize their product supply chain and most importantly, work on the brand.
WHAT BRAND ARE YOU GOING TO PROMOTE?
WHAT WILL BE THE IMPACT OF THE PRICE ON THE CREATIVES?
WHO IS THE IDEAL CUSTOMER OF EACH PRODUCT?
- THE TESTING: The court is set for the game. The dream team is ready. But first, you have to test it. You advertise heavily. Test the website elements, test the creatives, find out what elements are working and what's not. Then you optimize. You also start to observe the cost of customer acquisition( CAC).
- THE SALES: This part involves taking the learnings from step 2, and optimizing them. Put money on audiences which tested ROI positive and you will see sales explode.
- THE SCALING: The final part. Scaling a business means optimizing the numbers to an extent to provide EXPONENTIAL GROWTH. After a time, your sales become constant. They just don't grow at a high rate. Scaling strategies help get over that!
Originally Posted Here