How To Sell A Product Online in Simple Steps (Beginners Guide)

How To Sell A Product Online (Beginners Guide)

Are you planning to sell a product online? And you don't know where to start? And you wonder how to sell products online at all? In today's post I want to go over the steps that you have to take to sell a product online.

But before you start, you have to understand that setting up your own store takes time, dedication, and money. Having an online store is hard work, you will need a plan, patience, and the discipline to work on it. You wont make profits right away, that will take some time. Now that you understand this, let's go ahead!

While I believe that marketing is one of the most important parts of online business. I do want to go over all the main processes of selling a product online. Because I believe that each step is important to your online success.

Let's start with the first step:


Identifying your niche market.

First you should figure out in what market you want to create and sell your products. Often this is something that we are familiar with and already have knowledge about. Although this isn't necessary, it is advised to choose something that you know or are passionate about.

You can also choose a niche solely on its market value. For example, the market hasn't been saturated yet. And you think you have a high chance of selling your product. And yes, that can also be a niche you don't know much about. Important is that you choose a niche that you are willing to spend money, time and energy on.




Conduct in-depth market research.

After you choose a niche, it's important to do in-depth market research. You might think that you know everything there is to know, but you would make a huge mistake assuming this.

Before you spend your budget, you need to research some key questions first. For example, who is my competition and how can I compete with them? I'm talking about product quality, price, delivery, etc.? How can you make a better product than your competition? The more questions you can answer the better.

Why would anybody buy your product if it is of lower quality and more expensive than your competitor?


Research Supply and demand

Supply and demand plays an important factor in your success for selling products online. Even if you are in a very small niche market. You still might not be able to sell your products. Simply because there is no demand. So a huge amount of your market research should be spent on this. And you have to figure out if you are able to supply this demand in the first place.


Research potential products.

A considerable amount of your research time should be spent on finding a product that you can sell. That is why you have to start looking for “holes in the market”. Ask yourself this: What kind of product does my market want? What will it do and look like? What problems does it solve?

After your research you might suddenly have a great idea for a product, or you find out that your first product idea wasn't that great at all. Either way, product research is essential for finding a product that is sellable.


Research your audience and buyer persona

An important question you have to ask before you start selling your product, is to find out who your potential customers are. Therefore you have to create a buyer persona. This is a profile of your ideal customer.

Find answers to questions like: For what age is my product suited? What do they like and don't like? What is their income (who pays for the product)? How does my product benefit them? What are their norms and values? Getting correct answers will help you with promoting your product. After all, If you speak the same language as your customers, it becomes a lot easier to sell your product.




Set your budget

After you finish your main research, it's time to calculate how much is needed to market your product. If you find out that your budget is too small. No need to worry, even with a small budget you can still launch a product. In this case you have to adjust your budget, find out how much you can spend. With a lower budget reaching your goals will be slower, but not impossible.


Set your business goals.

Now it's time to define what your goals are. Of course you want to be profitable. But this is a goal that everybody has. You need to set a realistic revenue goal. This goal should be monthly, quarterly and yearly. You can even define a 2, 5 or 10 year business goal.

Questions to ask yourself: How much do you want to grow? How much revenue do you want to generate? How many new customers do you want to reach? Keep in mind that your goals have to be realistic. And don't forget that growth can be slow at first, so you can adjust your goals along the way.




Brand your business.

Before you start selling a product, you need to brand it. You need a name and logo, packaging design, product photos, etc. In this stage of your startup you might need to hire professionals to make sure you get the best results. For starters I recommend finding professionals on Fiverr, it's a great place to find freelancers who will do a good job for a fair price.


Build your ecommerce website.

The best way to sell a product online is through your own ecommerce website. Platforms like Amazon or Shopify are great to start with. They are easy to set up and require little maintenance. You should also post your product on other places like social media or google merchants.


Payment, shipping, and staying in touch.

With platforms like Amazon or Shopify, a payment system is quite easy to set up. A more difficult part is to stay in touch with your customers. A good way to do this is by building an email list from your buying customers. This way you can easily reach out to them again. Use Mailchimp or Sendinblue for this.




Promote your products and build a following

Now that you finished your research and know what your audience looks like and how to reach them. And after you set up your website and product page. It's time to send customers to your store and sell your product. If you start on Amazon, you have the advantage of a marketplace with billions of visitors each month.

But in most cases, people don't suddenly show up, that is not how selling works. You have to bring your product in front of your audience. 

Online or Offline, a store needs traffic. How to get traffic? There are different approaches. In general we call it digital marketing. This includes social media marketing or content marketing, like blogging or YouTube videos. These kinds of marketing are often free, and you can do these next to your shop to attract more customers. Besides that you can pay for ads.




So if you want to get started with traffic right away, I suggest the next best step you take is to promote your products with ads on google, Facebook or similar platforms. If you are totally new to this, it's wise to hire a marketing expert, otherwise you might lose a lot of money!

As you can see, research plays an important part in selling your product online. It becomes very hard to sell a product if you are not prepared enough!

Good luck with your product and I hope you learned something.


Ron.



About the author: Ron Hoekstra

About the author:
Hello, my name is Ron Hoekstra, founder of The Liberty OnDemand. I hope you like my content, if you want to know more about me, please read here or subscribe to my newsletter where I will keep you up to date with new posts and other useful content.