Free Assessment Questionnaire For your Ecommerce Store Idea

You might be running a brick and mortar store or you want to take a plunge in the entrepreneurial world. But before doing it you might need to evaluate your idea to increase your chances of success. You will also be able to cross check your product/service offerings with 15 checklist points. These checklists points will help you to reassess your store offerings and business model.

Most people struggling in the Ecommerce world have not assessed their business model before starting an online store.

If you will go through this Ecommerce store reassessment questionnaire then you will find a new perspective to think about your online store. You will find why your store is struggling to make you money.

When should use this questionnaire

When should use this tool

When should use this questionnaire

  • You are thinking of building an ecommerce store.
  • You already have an ecommerce store and are struggling to make money.
  • You are in the research phase of building an ecommerce store.
  • You have started your ecommerce store and it has been just a few days.
  • You are looking for insights and important parameters where you can improve your online store.
  • Most people struggling in the Ecommerce world have not assessed their business model before starting an online store.
  • If you will go through this Ecommerce store reassessment questionnaire then you will find a new perspective to think about your online store. You will find why your store is struggling to make you money.

What will you get ?

What will youget
  • Email report of assessment of your ecommerce business model
  • List of important parameters where you need to make improvements
  • Your strengths and weakness of your ecommerce store
What will youget

How much time will it take ?

  • 15-20 mins to use this tool
  • Days to work on the assessment report findings

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    Last Name

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    1.Is your average order value between $75 and $200?
    i In your ecommerce store, the average order value should be between 75$ and $200. If your average order value falls in between this range and assumes a 20-25% profit margin. You will earn 25$ profit per order and earning this % of the profit will ensure you a decent budget for paid ads.
    Selling products priced in the range between 250$ to 500$ or above, through an ecommerce store is a difficult task as buyers usually want to chat or need to communicate with sellers before drawing their credit cards to pay. Hence it is better to have a range of products that fits in between 75$ to 200$ range.

    YesNo


    2.Is your Gross margin 20% or more?
    i
    Higher the profit margin better the success rate. You will need to have a decent margin on your products as you will need to invest a lot in paid ads.
    Without a decent margin, you will not be able to spend on paid ads (Google, Facebook, Tiktok, Instagram, and many other ads platforms) or other organic marketing strategies and hence your store will not be able to grow.

    YesNo


    3.Is it a Fragmented Market?
    i
    A fragmented market means there is no monopoly of a single organization in the marketplace and there is equal opportunity to every organization irrespective of their size.

    YesNo


    4.Will your Customers return multiple times to buy?
    i
    You should be able to sell your products multiple times in a period to the same customer. In other words, your customer should need the products at regular time intervals. For eg: gift baskets can be purchased on multiple festival occasions.

    YesNo


    5.Does your customer Lends itself to multiple item orders?
    i
    Your customers buy multiple products from you. They buy accessories,related items, or other types of products during a single purchase.

    YesNo


    6.Can you add value to the market?
    i
    You should be able to add value to the market you are serving. Just listing products on sale is not a value addition to the market. Your products should be able to make a change in the buyer's life, it should solve their pain points, problems and make their life easy.

    YesNo


    7.Products you want to sell online, are they difficult to find locally?
    iYour products should not be easily available locally, if they are easily available in your local market, people will not go online to buy them. Make sure you have products that are not easily available in the local area.

    YesNo


    8. Is it a Seasonal Business
    iIs your business seasonal, if yes then does it have the capability to generate tons of sales? Is it easy to scale huge sale volumes in the seasonal days?

    YesNo


    9.Are your top keywords highly searched in the country you want to sell on Google Trends?
    i If you look at your top keywords in Google Trends, when you look in Google Trends you can see the countries and the states where those keywords are most highly searched, if your country is not at the top for that, you probably don’t want to be selling that product in that country. I mean it’s not worth a whole lot as you can see but it is something that we look at. Is this product hot in our specific country?

    YesNo


    10.Do you have at least 70 SKUs?
    i This implies a drop shipper type of store. You should have at least 70 SKUs for each product to buy traffic.
    But the point here is if you’re doing a physical product business, you want at least 70 items because you need a certain number of products out there ‘cause you want to rank for the long-tail keywords, you want enough products to buy traffic on.
    And what we’ve found is when we have under 70 SKUs, it’s really hard to scale that business to get it up over seven figures so you want to have at least 70 SKUs in your store.

    YesNo


    11.Is there competition in your market?
    i Are there other people buying traffic in that market? If there’s nobody else buying traffic, you don’t want to be in that market because nobody’s making money.

    YesNo


    12.Is the average weight of your product under 10 lbs or 5 kg?
    i It is very difficult to sell bulky products online as free shipping is harder to offer. Hence your average product weight should be under 10 lbs or 5 kg. Heavy or bulky products get damaged in transportation and increase overheads.

    YesNo


    13.Do your top three keywords have a combined 15,000 exact match searches per month?
    i Google organic traffic is a free and important traffic source for your online store. If you are having top 3 keywords with combined 15,000 exact match searches per month then you are good to go.
    If you don't have 15k exact match searches for your top three keywords then you should have long-tail keywords with a decent amount of traffic.

    YesNo


    14.Is the target market Women?
    iMost ecommerce stores are owned by males and these people are not keen on selling products or services related to women. Hence if you are women and looking to build an ecommerce store, target selling products or services to this women market.

    YesNo


    15. Finding Markets .
    iTry to become a niche of niches, You can target a very narrowed or segmented niche from the broad niche. For eg :- You can instead of building a store for whole sleep accessories you can focus only on pillows.
    You can look for your personal hobby or interest and try to build your online store idea around your area of interest.
    Also you can research on reddit to find out what people are talking about your area of interest or product verticals. You will get lots of hidden insights about your market.

    YesNo