Selling online today is the obvious next step to give to your business. If you already have an established brick-and-mortar store and you are thinking about expanding your business than getting your business online would prove to be the most viable option for you. And why do we say that? Because selling online is way faster and cost-effective for expansion. Whenever a businessman thinks of expansion usually his aim is aim is to reach a larger audience and potential customer base with as much little extra cost as possible. Well, bringing your business on e-commerce marketplaces helps you do just that. And with FinPlus at your disposal how to start selling should not be a problem!
Let’s see how to get started with and successfully complete your first order online.
1.) Registering your company on various marketplaces
The first step to getting online is to get your company registered with the relevant and the best marketplaces in the industry. Choose the marketplaces carefully keeping in mind your product category, the marketplaces’ positioning, and your potential target audience. Choose only those portals that are relevant to you. Fill up a simple form and provide all the ‘necessary documents’ needed to make an account on the marketplace. Also, link the account to your companies bank account for payments.
2.) Cataloging your products
Selling online means selling your products only on the basis of a picture of your products. This is the reason why photographs of your products need to be attractive and as close to the actual product at the same time. It is a very common norm that all the marketplaces require the photo of your products on a white background. Hire a print shoot photographer and prepare a catalog of all your products according to the guidelines of the marketplaces.
Also Read: Why Should I Start Selling Online?
3.) Listing them on the marketplaces
The products then need to be listed with the marketplace. Listing includes providing all possible information of your products in a systematic way compatible with the marketplaces’ listing tool.
4.) Promote your product
Visibility is equal to sales in the e-commerce business. The more your product is visible to your potential buyer the more are the chances of making a sale. Promote your products on all social media platforms. Promote them to your friends and family first and ask them to forward it to their circles.
5.) Manage your day to day operations and receive orders from the marketplaces
Manage the day to day orders and the inventory of your products. You need to be sure about your stock levels and hence ‘inventory management’ is very important when you start selling online
6.) Keep the package ready
Once you receive the order the marketplace ships it directly to the customer. All you need to do after receiving an order is to keep the package ready. Usually, the marketplaces have specific requirements with respect to the packaging material and style, make sure you abide by those.
7.) Handle customer queries and order cancellations
Once your product has been delivered to the customer you can count your profits. But in case of a complaint or order cancellation, you will have to handle the customer. You need to first make sure that the package you receive in returns or cancellations is your package and has not been tampered with. You must then make sure that the customer receives the revised package and is satisfies with your solution.
Also Read: GST Impacts Analysis and Outlines by Experts | FinPlus
8.) Payment reconciliation
Once you start making sales your cycle of payments from the marketplace begins. You need to make sure you reconcile your profits from them. Most marketplaces directly transfer the amounts after deducting their fees into your account within 7 – 14 days. You can then actually count your profits!
How to Sell Online on Major Marketplace
Online marketplaces have become an essential part of many retail businesses to expand their business online. Customers can shop for the variety of products listed on marketplaces by the merchants on a single platform.
If we look at the online marketplace, which lists different categories like fashion or electronics or household appliances. As a seller, you need to be alert when choosing a right marketplace as it can help you reach your products to the right customers.
Below we have listed marketplaces and how to sell online your products by choosing the one which can represent your products online and help you establish your business.
These are some of the guidelines or steps which a seller while registering their business online
- PAN CARD (Company & Personal Both)
- GST NUMBER (CERTIFICATE)
- ID PROOF (ADHAR CARD, Passport, Voter ID)
- ADDRESS PROOF – Electricity / Telephone Bill
- CANCELLED CHEQUE (Current Account)
- TRADEMARK CERTIFICATE
- BRAND AUTHORIZATION LETTER (In case you don’t have the trademark)
- SIGNATURE SCAN COPY
- Brand Name
- Brand Logo
- Image Of Brand Logo On Product
- Image Of Brand Logo On Package
- Brand Description
Click the pictures as per the image guidelines of the marketplace:
Once photography is done, it is mandatory to have the images with White Background.
· Minimum image Resolution required is 1500*1500.
· No, Stretch or Shrink Images cannot be used.
· Do not Crop out the body parts or product.
· Shadow effects cannot be Used.
· Images with Watermark cannot be Used.
· Blur Images cannot be used.
· Images with the border cannot be Used.
· Items that are not part of Sales Package shouldn’t be included.
· In Case of Combo products, Primary Image should consist of all the products under combo.
Now that you know to start, what are you waiting for? Pick up your phone ‘now’!
