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How to take your business online in India - 2021

Let me begin with what Bill Gates said once…

“If your business is not on the internet, then your business will be out of business.”

Bill Gates said this before Covid-19 & I am sure he wouldn’t have imagined that his words will be so meaningful and relevant so soon. Maybe god was in hurry to prove him right.

In 2021 the biggest challenge we all will have is to how to start an Ecommerce business or how to take our business online and remain in business.

Well after a lot of research and experience I can tell you that the whole book can be written on this 1 question. However, let me try to draw a path in a simple and easy-to-understand manner.

There are 5 steps to take your business online.

Product/Service Selection - Decide Category

Brand Name, Logo Design, Trademark & Domain Name

Business Model Selection

Marketplace Selection

Promotion

1. Product/Service Selection

The first step is to narrow down the selection on what exactly you want o sell online. Category selection is an important part of this process. I have been doing online shopping for the last 20 years and if you ask me what all I have bought from online marketplaces then my answers are Clothes, mobile, television, bicycle, books, shoes, laptop, trimmers, vitamins, grocery, and much more. You too can make your own list what all you have purchased online.

Now the next step is to know which categories are performing very well. Let me give you a small list of some of the best selling categories across all channels and marketplaces.

Top Categories

Electronics - Mobile & Accessories

Health & Personal Care (significant jump was seen during and after lockdown)

Sports & Fitness

Clothing & Accessories

Home & Kitchen

Food (significant jump was seen during and after lockdown)

You can select whichever category you want to start with. It is not necessary to go with top categories, you can select some unique product or category also.

For Services the process is the same. Identify which services you want to offer online. A painter can sell his/her painting, a lawyer can sell legal services, a graphic designer can sell graphics, a professional service provider like CA & CS can sell their legal services.

Once you are done with product/service selection keep one more important thing in mind…

Define your target audience. It is very important to know whom you are targeting. Who could be your customers?

2. Branding

Naming:

Most people take this step very casually. However, I recommend you to spend some quality time naming your business/brand. This is indeed a painful process and hence, hiring a naming expert would be the best option. However, if you have time then google is always there for you. You can browse some name generating websites and try to find a proper name.

A good business name catches the eye of people so that they direct their attention to your business/brand. Another importance of a good business name is all about uniqueness. With so many other competitors out there selling, the same product or service uniqueness is hard to come by. A great business name makes this easier.

Your brand name should be:

Short and easy to remember

Reflective of your brand

Goes well with your targeted audience

Remember: Your Business/Brand Name Is Reflection Of You

Logo Design:

Let me begin with this… Logo Design is not a DIY thing. Do not design your logo if you are not an expert on it. Each logo has its own story and hence, I recommend you to get it done by an experienced logo designer. However, if you are very passionate about your brand and want to design it your way then go ahead and create your own story.

Trademark:

In India, we do not give much importance to trademarks. We think our brand/company name is our property and no one can take it. Well, we are in 2021 and if you are planning to take your business or brand online then this a MUST thing. Once you decide the name and ready with the logo the first thing you should do is get it registered. You can then share it with your friends and relative on WhatsApp or Facebook :)

Hire a professional service provider for trademark registration. The govt fees are 4500 per class.

Domain Name:

Once you finalize your brand/business name it is recommended that you book the domain name for the same. First preference should be given to the .com name but if it is not available then you can go for .in, .online,.biz, or any other. Nowadays there many options available for domain names.

3. Business Model Selection

It is very important to select the right business model for your brand/business. Primarily there are 4 online business models but I am giving 5 models here.

Business to Consumer (B2C) - Examples - Amazon, Flipkart, Paytm mall, Tata Cliq, JioMart, etc.

Business to Business (B2B) - Examples - Udaan, Tradeindia, Indiamart, etc.

Consumer to Consumer (C2C) - Examples - ebay, olx, quikr, carbecho, etc.

Consumer to Business (C2B) - Examples - Fiverr, Freelancer, upwork, etc.

Direct To Customer (D2C) - Create your own Ecommerce web-store and app

Each model has its own advantages and you should select the model based on your products/services.

4. Marketplace Selection

In 2021 we have many marketplaces where we can sell our products/services. Hence, marketplace selection is a bit tricky and sometimes confusing also. Please go through below mentioned things to consider before selecting marketplaces.

Popularity of marketplace

Marketplace’s popular categories

The customer base of the marketplace

Logistics and shipment support

Competition & Advertisement Costs

Marketplace Charges

Return Ratio (for product sellers)

Seller Support

Remember one thing: Return eats up your profit. Read the return policy carefully and calculate charges.

5. Promotion

Online promotion/Online marketing is the most complex part of taking your business online. Due to the increase in competition online promotion has become very challenging. It will test your patience and perseverance. Below are some very common categories of online marketing.

Search engine optimization (SEO)

Search engine marketing (SEM)

Social Media Marketing (SMM)

Pay-per-click advertising (PPC)

Affiliate marketing

Email marketing

PLA (Product Listing Advertisement)

I shall write a separate article on online marketing in detail as it is very important and equally complex. Each category has different impacts and implementation process.

If you have reached so far then you are really serious about taking your business or brand online :)

-- Yatin Khakhar

Founder @ ABYBO

#ecommercebusiness #onlinebusiness #onlinebranding

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