Are you planning to enter the Dropshipping business? Congratulations! It is a good idea because it is easy to start, you don’t need to invest substantial capital, and you don’t need space to store the goods. It is a low-risk business and the best platform for someone who is entering eCommerce. All you need to do is to advertise the product of the supplier and market it for a slightly higher price to get a profit. That is dropshipping explained to you in a few lines.
Dropshipping can be used to test waters before starting an eCommerce business at a higher level. You will be inspired to dive deeper into an online store only if you are successful in your first venture. Here are a few tips to help you succeed in your dropshipping business in 2020:
- Find A Niche
Picking a niche is better than choosing a broad range of unrelated products. When you select a niche, you will be able to focus on one thing. Moreover, your passion for the product will be reflected in your promotional ads when you choose a niche that you are passionate about. Choosing a profitable niche is very important.
- Find The Right Product
After selecting the niche, you should proceed to choose the product. Selecting the right product is the toughest decision to make in the dropshipping business. How to choose the right product?
- Identify the product that is trending and is of high demand. It is easy to find popular products on Amazon and eBay. The search bar will suggest the products that are more in demand. You can also find hot-selling products with the help of Google Trends, Kickstarter, etc.
- Choose a product that has low shipping costs. The sales for products with higher shipping costs are comparatively lower as customers are always reluctant to place orders for products with high shipping charges.
- Make sure the product you choose is not available locally. People prefer to buy products directly from local suppliers than online suppliers if the product is available locally.
- Find The Right Supplier
The suppliers hold the keys to the success of your dropshipping business. The problem with wholesale suppliers is that they are not very specific about SEO ranking. Hence, it may not be easy to find the right supplier. You have to do an intensive search. Searching in supplier directories is a good idea. Then create a shortlist. Narrow down the list based on price, quality, and the availability of dropshipping service. Contact the suppliers left in the list. You should make sure that the supplier will promptly deliver the product and that there will not be a shortage of supply.
- Make Your Website Attractive And Automate It
Your website design should be attractive. You should put efforts to make your homepage and landing page unique and SEO-friendly with quality content, images, and a clear description of your product and policies. You can have a look at your competitor’s website to get an idea.
Automating your website ensures the seamless operation of your business. Many automation tools automate the emails you send, the social media postings you make, etc. This saves a lot of time and helps in boosting sales.
- Make Use Of The Best Marketing Techniques
It is not enough if you optimize your website. You have to drive more traffic to your website and increase sales.
- Make dropshipping ads to attract customers to your site.
- Promote your product with attractive ads on social media platforms like Facebook, Instagram, Twitter, and Linkedin.
- You have to increase customer trust by adding trust seals.
- Create branding and increase brand awareness.
- Create a FAQ page on your website.
- Create quality content.
- Provide attractive discount offers.
- Create videos to promote your product. Video marketing is the current trend these days.
- Conduct webinars and live videos on social media to create a better understanding and relationship with your customers.
- Make sure you provide multiple payment options.
- Fix The Right Price For The Product
Pricing is an essential factor to consider. The price should not be too high or too low. If the price is too low, you will suffer losses. If it is too high, you will not be able to generate sales. Fixing a price slightly lower than the competitors, the sales will be higher. Higher sales will compensate for the low price.
- Create The Right Return Policy
Handling returns is not pleasant, but you have to face it. Create the right return policy making sure it matches the policy of your suppliers. If your supplier has a 20-day return policy, your policy should be a 15-day return policy to give time for shipping delays, etc.
- Make Your Customers Valued
Customer satisfaction is vital in the dropshipping business. You should give them the best shopping experience if you want to make repeated sales. Tracking information should be provided. You should convey that customers’ happiness and satisfaction are more important to you than anything else.
If you want to succeed in the dropshipping business, you have to be patient, consistent, and dedicated. You cannot hope to yield results overnight. You should be ready to put in a lot of effort before starting the business.