How to validate the market to launch a successful eCommerce?
Creating an online store is not a game of chance, but a well thought-out strategy. In the world of eCommerce, market validation is a crucial step that can determine the success or failure of your project. Below, we break down the alternatives and tools to validate your market and launch an eCommerce adapted to your customers' needs.
Do you already have a physical store?
Having a physical store before launching an eCommerce offers a significant advantage. You have access to a group of real customers who have chosen your products. This customer base is a gold mine of information that can help you understand what motivates your customers to choose your brand.
- Customer surveys: Consider surveying your current customers in a non-invasive way. Ask about key factors such as why they prefer your brand and what incentivizes them to buy from your store. This will provide you with qualitative insights that are vital to your eCommerce strategy.
- Digital media analysis: If you have social networks or a website, analyze data from these media. Identify what interests the users who visit your digital channels have and how they interact with your content.
What to do if your eCommerce is a start-up project?
Launching an eCommerce from scratch has its own challenges. Without an established customer base, it is vital to use other research methods to validate your target market.
- Broad audience surveys: Survey a larger potential audience. Although the responses will be based on estimates, they will help you define a potential customer profile or buyer persona.
- Estimates in data analysis: Take advantage of data analysis to create estimated profiles even if you do not have real customer data. This information will serve as a basis for adjusting your strategy as you get more data with your MVP (Minimum Viable Product).
How to implement an MVP for your eCommerce?
Regardless of whether you already have a physical store or it is a new project, developing an MVP is essential to test your market in the digital realm.
- Promotional programs: Implement promotions to encourage customers to use the digital channel. For example, offer exclusive discounts for online purchases.
- Continuous learning: As the MVP operates, keep collecting and analyzing data to deepen your understanding of customers, adjust your strategy according to the results obtained.
Why is continuous data analysis important?
Data analysis in eCommerce is a perpetual process. This not only strengthens your marketing strategy, but also allows you to adjust to changes in consumer behavior.
- Adapting to new audiences: When launching your online store, you may discover a new customer segment that you had not considered.
- Strengthening your strategy: This analysis will allow you to strengthen and refine your marketing strategy, ensuring that you continue to meet the changing needs of your current and potential customers.
Market validation and ongoing analysis are the keys to keeping your eCommerce competitive and profitable. Keep exploring and learning to shape a promising future in digital commerce - see you in the next class to explore more practical techniques in launching your online store!
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