5 Imperative Steps to Creating a Million Dollar eCommerce Business

After helping giants like Nike, Ford, Burger King, and Liverpool earn millions in eCommerce, it is now your turn to grab the advantages of the powerhouse Magento platform. Magento has the capacity to handle high traffic levels, an influx of customers and their potential data, cart abandonment and more. The news turns out to be no surprise that Magento crosses $155 billion in gross income of merchandise selling. Salmon reports that Magento accounts for about 31.4 percent of the top 100,000 eCommerce sites.

However, with continuously evolving trends and needs, Magento eCommerce development is more than just a numbers game. Before you go ahead reading about the things to do after Magento installation, we want you to know the basics of Magento.

Magento is an open-source PHP scripting language eCommerce platform. The platform was incepted by Varien, back in 2007, and is continuously evolving ever since then. Magento is available in two different versions, namely, Magento Community Edition and Magento Enterprise Edition. It is a completely extensive platform giving the entire ownership of the site to the sellers and also giving them the advantage of the flexibility and features. If you go for customization and extra additions, the cost of development can get a bit higher than the regular cost of developing a website.

So, now that you know the whereabouts of Magento, let’s review the other nitty-gritty requirements for making your eCommerce website more functional and attractive. Let’s get going with your journey to creating a full-fledged eCommerce store.

Add your key business information

Don’t you think your site looks incomplete without basic contact information? Basic information here means your country of location, state, and other store-related information. These all can be found in the configuration option in Settings of the Magento store. The configuration option covers everything, including your business address, language you prefer, currency in which you want to transact and more.

Customers feel connected and rely more on stores that show all the necessary information. And it is their right to know the facts and figures which, on the other hand, are also essential for meeting all the legal requirements.

Update the design

We all know how much visuals and designs influence the purchasing decision of customers. You may think, what and how to update the designs? You may even think that your designer can make it better! Fret not. You are free to choose from over thirty free themes, and a thousand more themes are extended right into your Magento store.

You’ll have to pay a small charge of around $50-$200, depending on the functions you choose, but it’s nothing against the benefits you reap from the store. After all, a good design is directly proportional to the store’s success.

The theme should look professional and replicate your brand’s image. You can hire a Magento developer who can help you with further customization. The selected theme should have an optimal user interface, seamless navigation, and responsiveness.

Note: While updating the design, do not forget to consider your design visuals on different screens, i.e., over smartphones, computer screens, and Laptops. Your customization should align with your requirements of having an eCommerce store.

Install the required extensions

Setting up the Magento store and leaving everything else to destiny is not how this eCommerce business works. You need to set up a store that meets the consumer’s expectations. Today, a customer comes to an eCommerce website for ease and speedy service. And if your store fails to meet the functionality and speed requirement, you are probably thrown out of the game.

But don’t you worry. A Magento store already has the basic functionality features by default, and for advanced ones, you have Magento extensions. With them, you can do wonders for your store. You can get the extension from the marketplace, or you can even ask the Magento development company to get the customization done on your store. Remember, make your store as comfortable and appealing as possible.

Ensure website security

The type of data eCommerce store needs for processing an order is quite personal and sensitive, and any glitch while dealing with these data is not allowed legally. The store, when left unprotected, gets highly vulnerable to malware attacks. You cannot compromise on this security part at all, because you are keeping both the sensitive customer’s data and brand image at stake. Hence the next imperative step is to strengthen the store’s security.

For doing this, you can have a strong password policy, implement two-factor authentication, etc. Another thing to always keep in mind is, do not miss the Magento updates. Stores running on the latest version are flawless and smooth as compared to the ones running on an old version. Look out for updates on the latest security patches as it keeps the site protected from the hackers.

Prioritize Legal Compliance

You may design an exceptional-looking Magento store, but unless it succeeds in meeting the security and privacy requirements, it is a failure. You should know the selling laws and implement them on your website.

Compliance requirements can never be generalized as they vary from industry to industry and country to country. Hence, before making the eCommerce store online, you need to do extensive research regarding the laws and their implementation. Once done, you need to maintain the privacy and there you go, ready with your eCommerce Magento store. Furthermore, monitor the store’s performance using Google Analytics for serving the customers consistently.

Setting up a Magento eCommerce store is not a cakewalk. You need to involve experts from a Magento development company and let them do their job. Experts have hands-on experience in developing a store, and they can also handle the technical aspects with much ease. They know the details and the specific requirements of developing an eCommerce site. We hope this article has made it easy for you to set up an eCommerce store with multiple functionality and seamless navigation.