Profitable Ecommerce Business In Nigeria 2023: How to Start Guide
Are you looking to start a profitable ecommerce business in Nigeria in 2023?
Then this is the best article to read on it because it gives you the step by step definitive guide to get started and be profitable at this business.
I am not here with one long list of boring steps that will even convince you before you start. This is an actionable information for you.
And if that’s what you want, I am more than happy to show you how you can start and grow your own successful ecommerce business in Nigeria.
Most of the steps you will learn here are the exact blueprint I have learnt over time and I have implemented in this business model and they work.
So please take them seriously and follow them exactly.
Starting a profitable ecommerce business
Smart ecommerce business model is one of the top ways to make good money in Nigeria today and I will be sharing with you how to go about it so that you can be successful doing the business.
In today’s article, I am going to cover:
- What E-commerce is and what it entails to start one.
- The 3 top profitable niches to look into for high profit.
- How to do your market research diligently for success.
- How to market your products online for fast ROI.
- Including the aspect of product delivering as well.
- And finally, a free ecommerce video training to help you 10x your profit fast.
Ready? Now, let’s get started…
What is E-commerce?
Ecommerce is simply the buying and selling of goods or services primarily over an electronic network, which is the internet. With the power of the internet, you are able to reach your customer and sell your stuff to them.
Please before I continue, I need to tell you before hand that…
Ecommerce business is not for total broke people looking for fast money making opportunity.
I mean you will need some small capital to invest in the business as well. From N50k upward is highly recommended…
And I wouldn’t also fail to let you know that…
This business model is not a lazy “get rich overnight scheme“. It requires some efforts put in place but don’t panic, it is fun and not difficult to do.
Starting a successful ecommerce business of your own
It’s possible you might have heard about people importing all kind of stuffs online for cheap ridiculous prices abroad from places like China, UK and USA to resell down here in Nigeria for high prices.
And a good example you are already familiar with are JUMIA, Konga, JIJI, etc..
The business has the potential to make you a profit margin from 400% – 1000% profit. This is a very lucrative business to start in Nigeria and it really pays huge. No doubt.
Also read: How Much Money Do I Need To Start An Ecommerce Business?
To make huge profit with this type of business model…
You should be able to do a sound market research online to spot the top challenges or problems being faced by many people and the solution they crave about.
Please take this seriously.
This is how it works…
Spot a popular problem. Get a product Solution and sell.
You fill in the gap here by getting product that people want to buy then sell to them and make cool money.
Market the product and make money.
Rinse and Repeat.
You don’t just wake up one day to fall in love with one product you saw somewhere and believe you can just sell it and make money like that.
There is need for you to do some digging further as well to be sure if it is a kind of product that also appeal to a large audience as well (people talking or craving for the solution such product can solve).
There are 3 major categories of products that always appeal to the market and they always sell like hot-cakes – people always love to spend money on them everytime.
Profitable ecommerce niches to look into:
Products in the 3 categories below are always SUPER HOT:
- Health & Wellness.
- Relief & Security.
Products in any of these categories has always perform better than others. As for me, my favourite is in the health and beauty industry.
So you can save yourself the stress by focusing and researching more on products in those 3 categories if you are looking to be profitable doing this business in Nigeria.
However, I won’t restrain you to test any other market if you spot an opportunity during your research and findings by the way.
And that takes us to the next important question which is…
How to Research Hot Cake Products That Sells fast?
Just like I have said earlier, you must do proper research first before anything else.
You can goto places like Nairaland.com, Facebook groups and popular Nigeria blogs in those 3 top categories I mentioned earlier, they are great places to start with.
For example, you can goto Nairaland Health Section. You will find lot of ideas there on what popular problems people are talking about.
A good hint: The posts with high views are good indicators.
That screenshot post above had 767,237 user views. Does that ring a bell to you?
High numbers like this are great sign giving us an idea of how many people might be having this facial challenge and are ready to spend on any good facial cleanser that comes their way.
Same research approach can also be used on other platforms as well.
After your research…
Goto portals like Aliexpress.com, JD.com or 1688.com where you can find some products with high user reviews, and order them at a very cheap price which you can now resell here in Nigeria.
You will need the help of procurement agent to help you buy from china portals like JD.com or 1688.com. I recommend Chrisvicmall.com. I have used their procurement services over and over again to buy especially from those chinko sites like 1688.com.
You can also use NBC Skye Logistics as well. They are great.
Several people also love China Main Service.
I have told you before that you will need a reasonable capital. I recommend you start this business with N100,000 or upward if you are really serious with the business though you can use 50k to test the water.
Ecommerce Marketing Strategy: How to Market Your Product Online?
The goal of every business is to make sales and make profit.
And this is why you should not take the marketing aspect of this business for play.
There are several online marketing techniques you can use to sell your product which are.
1. Advertise on Facebook / Instagram
Sponsored Facebook ads has been my favorite marketing approach so far.
Sponsored FB campaign is my favorite and this is because it gives me total control on my budget. If you are like me who want to maximize your profit, you should promote your product on platform like Facebook and Instagram.
If you can do sponsored ads, you will make your money fast because you will be able to reach out to a whole lot of potential buyers if you target them rightly.
If you don’t know how to run Facebook advert rightly for your business, you can learn it from expert like Mike Leo.
Or you can hire our marketing expertise at IYDigitals if you have a budget up to 200k at least to spare on your advert.
2. Advertise On Forums / Blog
You can also market your products on those exact platforms you spot out the problem at the first place during your product research exercise.
Let’s take Nairaland for instance:
You can promote on this platform as well. Let’s say I have ordered for black spot removal like the one below. I can promote my product in their health categories to the same audience on the forum.
3. Market Using Social Influencers
These are people who controls huge raving fans on social media platform related to your offer.
For instance, if I plan to sell that black spot removal. I can find influencers in the beauty and makeup niche.
You will find a lot of people like this on social platforms like Facebook, Instagram, Twitter, Snapchat, and Youtube, etc…
All you have to do is find someone with a real and legitimate following (not fake account with bot followers) whose social handles and followers are very active on any of these social media platforms, then you can strike a deal with them.
I have once used this method of promotion using Instagram though it was for an international market – a drop shipping business.
You can also strike deals with Bloggers as well in relevant categories of product you sell. Though most of them might be quite expensive but I think it worth it if you have the money.
Product Delivery: How to Deliver Your Product to Customers?
If you actually want to sell well on the internet, you have to include the Pay on Delivery option in your business.
The essence of this is to promote trust because most of these buyers don’t trust you yet especially if you are just starting this business and this is a risk somehow because what if some buyers denies the product at the point of delivery and it usually happens.
So my advice is that before you send any item out, please call to confirm if the person actually placed the order and also confirm their availability as well before you or your delivery man start processing such order.
My best Logistics (delivery agent) so far is GIGL – God is Good Logistics.
Other delivery agent you can use are: EDS Logistics, Zoom Logistics, ACE Logistics
How to Start Your eCommerce Business With Small Amount and Profit Up to 10X Fast
I know you want more help. Possibly you want someone to hold you by hand and guide you through the smart ecommerce business from scratch to the end
Someone who can teach you how to research, market the right way for massive profit.
Then I recommend you watch this FREE training by Jonathan Melody . He is an e-commerce business expert who has helped 1000s of people in Nigeria achieve rapid success in the e-commerce business.
Today, he is going to show you exactly how to start your own ecommerce business from scratch and how to 10X your profit through it.
Click here to get the free training
Please take note: This golden information might be unavailable any moment from now. So if you are serious about profiting greatly in this business, I advise you to act on the steps and instructions he shared inside the video guide.
Profitable ecommerce business summary
I hope you find this guide on how to start a profitable ecommerce business in Nigeria helpful.
There is no doubt that eCommerce business is a highly profitable business model in Nigeria. The profit margin is huge but your due diligence is required for success.
Never order products based on feelings or how appealing they look to you, please take note of this. Just like I said earlier, do your market research first, test the market before going deep into it. Do not joke with the product research and marketing aspects of this business. This is why I recommend watching the free training above to become fully prepared.
All the best!
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