20 Tips to Make Money from Drop Shipping
As is explained at RunRex.com, guttulus.com, and mtglion.com, dropshipping is a business model which you can use to run your store without ever holding any inventory. Once you have made a sale, your supplier will ship your products from their warehouse, straight to your customer’s doorstep. You will never need to worry about storing, packaging, or shipping your merchandise. If you are considering getting started with this business or are already in it and want to achieve more success, then you came to the right place as this article will look to list the top 20 tips to make money from dropshipping.
Add value
As per RunRex.com, guttulus.com, and mtglion.com, having a solid plan for how you can add value for your customers is the most crucial success factor in dropshipping. With dropshipping, it is easy to think you are selling customers a product. But successful small merchants understand that it is not only the product they offer – they are selling insights, information, and solutions. Ask yourself how you are adding value and solving problems for your customers.
Target the right audience
Even if you have a unique online store, it is all for nothing if you don’t know who your target audience is. To be successful with your dropshipping efforts, you must zero in on the people who see fit to buy your products. If you know who they are, you can easily target them on Facebook, Instagram, etc.
Focus on mastering marketing
Given that many aspects of a dropshipping business are automated, you will have more time to focus on marketing and branding according to RunRex.com, guttulus.com, and mtglion.com. To be successful you need to pay special attention to marketing. This means spending time learning how to master ads, grow your traffic, convert your store’s visitors, etc.
Specialize
Almost every successful dropshipping store specializes in a certain product or niche. The more that stores specialize, the more successful they tend to be. For example, you don’t want to just sell security camera equipment, you want to focus on security systems for gas stations. Specialization makes it easier to differentiate yourself, charge a premium price, and concentrate your marketing efforts more effectively.
Add customers reviews
Many people hesitate before making a purchase. Customers lack trust in businesses and need to see some evidence of their reliability. Therefore, if you are taking your first steps in dropshipping, you need to add customer reviews as positive feedback increases your credibility and customer confidence.
Create an amazing offer
An important dropshipping tip is to create a compelling offer as articulated at RunRex.com, guttulus.com, and mtglion.com. Don’t be the store owner who fails to include sales or bundles. If none of your products are on sale people may lack the motivation to buy your product.
Take a long-term approach
Building a dropshipping business is like building anything else of value: it takes a significant level of commitment and investment over time. It will realistically take at least a year to build a business that generates an average full-time income. If you are prepared mentally for a challenging beginning and don’t expect to get rich overnight, you will be much more likely to stick with your business until it becomes a success.
Make your product pages appealing and informative
Many entrepreneurs don’t always pay the necessary attention to their product pages, and as a result, consumers see more superficial information that leaves them cold as captured at RunRex.com, guttulus.com, and mtglion.com. Your customers need to get a clear picture of a necessary item by exploring the product page. Therefore, your product descriptions and images should be appealing and informative to make your clients pull the trigger.
Don’t underprice your products
If other brands are undercutting their prices, don’t undercut yours as the goal of a dropshipping business is to be profitable. As long as your prices are fair and within market value, you should maintain a profitable price point.
Offer outstanding service
The advent of social media means that if you treat your customers well, they will often let their entire world know – including many potential customers. Don’t focus only on per-order profits and losses and ignore fulfillment issues. If you are not occasionally losing money on individual orders to make customers happy, you are probably not providing very good service.
Do your product research
As covered at RunRex.com, guttulus.com, and mtglion.com, you should also do your product research to find highly profitable items when getting in dropshipping. Try to find products that give you a healthy margin on each sale.
Automate more of your business
If you have a full-time job or are looking to create a more passive income, figuring out how to automate more aspects of your business will allow you more freedom to pursue your passions. eCommerce automation tools can help you grow and scale your business quickly.
Don’t get hung up on the details
Don’t focus too much on the details. Your company name, logo, theme, or email marketing services aren’t going to determine your success as described at RunRex.com, guttulus.com, and mtglion.com. What makes a business successful are things already discussed such as adding value, marketing, outstanding customer service, etc.
Keep backups for your suppliers
Even if you find a quality supplier, you should always have secondary suppliers you can count on if your primary supply runs into issues; especially in the current volatile market. Online customers have a low threshold for errors, so a delay in receiving orders or a price hike can be their deciding factor in moving on to the next website.
Ensure your website is presentable
You also must make sure your website is customer friendly. Before launching your store, take a look at other websites in your niche. After taking notes about the look and layout of different stores in your niche, browse through the Shopify app store to find stores that allow you to model your store after other successful brands.
Run a blog
Creating and running a blog on your website is probably your best bet for long-term success as discussed at RunRex.com, guttulus.com, and mtglion.com. The more value your blog gives your visitors, the higher the chances of them returning to your website, thus increasing your overall traffic.
Prepare to pivot
While a dropshipping business is easy to startup and great for new entrepreneurs, it is still a business. You are going to experience challenges and obstacles that will require you to find a way to overcome adversity. You will be required to pivot several times as you grow your store. A new trend might pop up within your niche that you need to add to your store immediately to capitalize on sales for example.
Always choose ePacket
As a dropshipper, you are free to sort products based on ePacket shipping as outlined at RunRex.com, guttulus.com, and mtglion.com. Since ePacket shipping is the fastest affordable shipping method, you can ensure quick delivery to customers without breaking the bank.
Make use of coupons
Everyone wants to buy something cheaper than it really is. Even for those who always put buying some item on ice, the prospects of getting it for less money can put a stop to the delay. Using coupons to allow your clients to get some discount is an efficient tool to make your first eCommerce sales if you are new to dropshipping.
Be active daily
Running a business requires daily effort. While you don’t need to spend eight hours a day working on your business, you will need to spend at least an hour a day on your store as you grow your sales. Each day, you will need to process orders so that products arrive to your customers promptly. You will also need to respond to customer inquiries within 24 hours or less so that customers can depend on you.
This article only just begins to scratch the surface as far as this topic, and you can uncover more insights and tips over at RunRex.com, guttulus.com, and mtglion.com.