One of the biggest issues faced by those hoping to get into the e-commerce game can sometimes seem like a nearly impossible balancing act. Suppliers don’t always care whether you have closed that sale and the merchant will be required to pay for your stock before you’ve even sold one product. Dropshipping can be an easy and affordable way to sidestep this barrier to entry. Here’s how: All you have to do is take the products other people have already created and sell them on your Shopify site. When you make a sale, you pass the order to your dropship supplier and they will fulfill the order for you. Once the order is complete, you profit. It’s that simple. Here are some useful tips to help you become successful dropshipping suppliers for Shopify. Be the best at branding and marketing As a dropshipping, you are likely going to be selling the exact same products as some of your competitors. To help you stand out, you will need to have a strong brand and a good marketing strategy in place. This may include a professionally designed logo and website as well as well-planned Facebook ad campaigns and possibly even an SEO strategy. Without this, you are likely to compete with other dropshippers only on price, chasing an ever lower profit margin. Know your real costs One of the biggest mistakes made by beginners when it comes to dropshipping is to not include all expenses into their costs, thinking that their only cost is how much they are paying their supplier for the product. This makes it easy for them to price their products too low and make an unexpected loss. The truth is that the product cost only makes up one of the many costs that you will have to consider. Other than the product cost, you will also need to factor in items related to your marketing expenses, website hosting and graphic design costs. Work with good suppliers Dropshippers rely heavily on their suppliers to complete their customer’s buying experience. As a dropshipper, the last thing you want is to give your customers a great experience on your website only to have them receive their products one month later, receive a broken or faulty product or maybe even not receive their product at all. This is why it is important for you to be very picky about your shopify dropshipping suppliers. Choose those that have good track records and be ruthless about cutting off suppliers who have fallen below standard. Remember, your reputation is on the line. Improve your inventory’s management Inventory management is one of the most important aspects of a dropship business. By having proper inventory management, you can ensure that you never oversell your products. Overselling products can negatively impact your business and happens when customers order products that appear to still be in stock on your store but are already out of stock at your supplier’s. To prevent this from happening, you will need to optimize your inventory management to ensure that the stock quantity displayed on your store is always up to date in relation to how much stock is actually available at your supplier’s.
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AuthorDebutify is a freemium, all-in-one theme designed for Shopify users that allows them to have a plug & play theme with 2 second loading times geared towards boosting conversion rates, average order value, and customer retention. ArchivesCategories |