Alas, a week after I decided to create this business, CartAbandon.com . It’s now off the ground. Well, I’ve got a half-decent website, updated my LinkedIn profile and I’m telling people about it now.
Will it work? I couldn’t predict that! But now I need to talk to people and validate my idea. I’ve made assumptions about what people want – and now I need ask the market. If it doesn’t have any traction, I’ve wasted a week and £50 on domain names, hosting and a WordPress theme. So hardly the end of the world! But if it does work – it could be mega!
What’s the business idea?
68% of online shoppers, put things in their shopping cart but don’t make their order. However, with some software, you can email those people and a significant proportion come back and buy.
There are lots of software companies out there which offer this cart recovery software, but nobody reviews and compares the market. There’s no impartial site which tells people about the most appropriate software. So that’s where I can add value with lots of content marketing.
I’m going to learn about the industry. Then create lots of content for this site, market it well, and then use the site as a springboard to be a consultant on the topic.
I don’t know this industry well enough to know if it’s really going to work. I’ve made a few assumptions which I need to prove or disprove.
- Most e-commerce sites don’t use cart recovery software yet
- Lots of people are looking to buy the software
- The software companies are willing to work with me.
- I can learn about this industry quickly.
- I can gain credibility quickly
- Ecommerce sites will be willing to hire me later on
Now those assumptions aren’t total guesses. I have reasons to assume each.
- According to Listrak a software supplier, only 14% of e-commerce sites use email retargeting software. But that was only the 1000 biggest e-commerce sites in America.
- Google shows that 5000 people a month are searching for cart recovery software and adjacent keywords, like cart abandonment etc. That doesn’t prove anything, but people seem to be looking for it.
- I’ve put together the best pitch I can, here, for the software companies. I’ve done my best and I’ll approach them professionally.
- I should be able to learn very quickly. There’s many more difficult subjects I’ve got my head around. Think A-Level further maths!
- Credibility comes through association with big brands, and by helping people. I should be able to associate myself with the software companies easily. And then my content marketing will be top notch.
- I should be able to find some way of selling services to the ecommerce site owners. Whether that’s advice, consultancy, management, optimisation. Having good content and an email list means I’ll be in a position to sell them things. They’ll want to, especially if this software can raise their sales by 10% or more!
I’ve told my friends, parents and neighbours about this business venture. But they’re like you’re gran. They’ll always be egging you on, regardless of how good or useless your idea is.
What I really need is to speak to people in the industry. The software companies. The ecommerce site owners. These guys will say “yes, because” or “no, because”… and have a reason for it.Which is a lot more helpful than “Yes, go for it Alex”… as nice as those comment are!
Why haven’t I approached these people already? A) It’s scary. B) I felt like I needed a half decent website to propose my plans. .
If it doesn’t work…
If the business plan doens’t work out, I’ll have to find myself another job or adapt my business idea. If I have to find myself a job, it won’t be too tricky. I got offered another job out the blue today (see email below). I only spoke to them for 2 minutes at Brighton SEO last week.