The rapid growth of the world’s internet population and the adoption of ICT in different sectors have reshaped the way of communication and demand utilizing its potentials to the development of trade and commerce.
If you are interested in starting a profitable business in Bangladesh but don’t know how to, then you will find this article just the perfect guide for you! 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. Ease of transaction, widening markets, and decreased overheads are factors that make e-commerce solutions more and more attractive, as evident with the growth of online sales.
There has been so much positive feedback associated with running an e-commerce business. However, running e-commerce entails a lot of. You will need to find the best route to make your business successful with the best of partners & agencies. There is surely no shortcut but following a particular set of guidelines, with a proper team, can be achievable. In this article, you will find the basics and guides to plan, start, and enter the market with e-commerce.
To begin with, you must know the type of e-commerce in Bangladesh and decide accordingly as per your resources. Currently, three types of E-Commerce are popular in Bangladesh & they are:
- Business-to-Business (B2B)
- Business-to-Consumer (B2C)
- Consumer-to-Consumer (C2C)
Compared to other countries, Bangladesh is a late entrant in E-Commerce. Yet, e-commerce observed tremendous growth within a short time. E-Commerce can be the next major driver of economic development. The e-Commerce Association of Bangladesh (e-CAB), the trade body for e-commerce in Bangladesh, estimates there are around 700 e-commerce sites and around 8,000 e-commerce pages on Facebook. Undoubtedly, Facebook remains a popular method for advertising and selling products, to a point that many businesses forget to create their e-commerce websites & that is where the first mistake is made!
Thousands of development organizations have gone online with websites along with the Facebook pages of their stores in Bangladesh, having realized the importance of a website for the exchange and distribution of information and most importantly for a proper marketing strategy and branding of the business in order to sustain it in the long run. Facebook page alone won’t help to carry your business’s branding, marketing, and, hence, the sales in the further future.
Get started with WEBSITE collaborated with m-commerce
You have to create a professional website along with a Facebook page for your business to plan for a long time run. While creating a website, the best suggestion is to look out for an agency out there determined to provide you quality end products and stay on good terms with you and your business in the long run. Moreover, m-commerce will be a way to let your customers shop on the go anywhere anytime with your e-commerce mobile app. This platform attracts most people it allows them to surf and shop in the most easiest and efficient manner.
Collaborative work with your partnered agencies has been more time-saving and cheaper than ever before. Availability of your business in multiple platforms will be in itself a form of branding of your store to your target market.
Choose your AGENCY
The agency of your choice will be your choice of how well you will be handling your online business. Website making that is efficiently collaborated & synced with the mobile app, proper and efficient Search Engine Optimization (SEO), digital media promotion, all these key factors that run an online business is what an agency will help you with. That’s why an agency that comes with all these packages in one and is a guaranteed long-run digital partner of your business is very important to identify. Your chosen agency should be such who wouldn’t only work effectively & efficiently with you but also help you grow. Debuggers Studio, a fast-growing IT solutions company dedicated to providing quality IT services. They not only provide the following services of web and mobile app development services, e-commerce solutions, digital marketing services, UI/UX designing services among many other things but also provide various interesting courses that will help you develop your skills and grow over time in order for you to get better in any business you are down to.
Integrate Payment GATEWAY
In the eCommerce business, Payment Gateway is the most crucial thing to consider. Without integrating a payment gateway you will be unable to provide an online payment method within your website. But it’s not that much a difficult task to integrate payment methods within your website. What you need is a verified PayPal or Stripe account.
Since in Bangladesh both options are not available, you may try to open an account with your foreign friend or relative or your partner agency should be able to definitely help you out with it through the other gateway options that are available in Bangladesh. Your customers will then be able to pay for your products using local credit/debit cards like VISA, MasterCard, DBBL Nexus Card, and Brac Bank credit card or bank accounts right from your online store.
Prepare your TEAM
You have to recruit professionals for customer support and order management. Logistics can be managed by you depending on the scale of your business but it’s better if you can outsource it to some third party at the very initial stage to keep it a little easy for you to manage in the beginning.
Execute properly planned MARKETING STRATEGIES
Now one can start an online business in Bangladesh with an e-commerce website and proper marketing plan to brand their business & the website quite easily with the help of a chosen agency. But what will be more challenging next is the promotion of your business. Two main keys – SEO & Social Media Marketing are the top and very efficient guidelines, to begin with for any online business to establish the brand online by being more visible and easily reachable to your target market right from a web search engine’s results. And for designing, managing, and promoting a Facebook page or your website and its contents, as a beginner, it’s always better to consult a professional digital marketing team and design professional logo and posts to look a well-organized store that would make people stop at your online store & would make them love to shop from.
After getting it all geared up and ready to get down to the market, be ready to meet the demands of your customers and do what was your initial goal – sale and make profits! This part is crucial. Be very sure to provide not only good quality products to your customers, but also provide them the best service because that’s what retains a customer.
Last, but not least, don’t get despair once you are out of initial seed money. Once you hit the road, the road will take you to your destiny. Just keep one thing in mind, don’t consider e-commerce business as something easy and quick way of earning profit. It’s just another form of business. As mentioned before, collaborate with an agency that will not only be your one-time vendor but a long-run digital and technical partner to help you out in the most crucial paths. Relax, stick to the basic principles of business & provide the best to your customers, be it a service or a product. That would do the tricks gradually and you will then definitely see the results sooner or later.
Best of luck with your future venture!