Dropshipping is the best business model for entrepreneurs who want to have an eCommerce store without investing in and managing inventory. It's a low-cost way of starting your own online store and it can be highly profitable, depending on how much you know about marketing and sales.
Lucrative as it may be, dropshipping is just like any other business: you will not make a profit unless you know what you're doing. Many people start a dropshipping business without having any knowledge of the ins and outs of the eCommerce world. They jump straight into it thinking that they'll be able to make a quick buck, not realizing that there’s more to dropshipping than they think.
So to jumpstart your dropshipping business, you need to learn about sourcing products, inventory tracking, and most importantly, good marketing strategies. This article will touch upon the things that you need to dive deep into in order to succeed in the dropshipping business.
While you don't have to buy inventory, you still need a "place of business". Your website is the virtual storefront where you showcase the products you intend to sell.
You specifically want to use an e-commerce platform since these have features that regular site builders don't provide, such as the add to cart, checkout, and payment processing functionalities.
There are different options for you to set up your online store. Some of the common choices are Shopify, BigCommerce, and Woocommerce.
If you are short on budget, there are free eCommerce platforms that you can use to begin your dropshipping career, such as Woocommerce. This is actually a WordPress plugin that allows you to build a store from scratch.
While Woocommerce and WordPress are both free, your website hosting is not. But for one store, you can pay as little as $5 a month to get your website up and running. There are literally dozens of website hosting providers that you can choose from.
However, you would need to spend some time learning the ropes since Woocommerce requires you to have a basic understanding of how to create a website using Wordpress. And that is on top of adding your store and product information.
Bigcommerce is one of the biggest eCommerce platforms today. It allows you to have full control over the design and functionality of your website as well as provides you with free SEO tools to help your search engine optimization efforts for your store.
Building an eCommerce website here is easy since it uses a drag-and-drop user interface that even complete beginners can use.
If you need more freedom to start your dropshipping store, we highly recommend using Shopify. With Shopify, you can customize your store without having to hire someone to do it for you; all you need to do is play around a bit with the themes and page design.
Shopify’s instructions on how to customize your store are also complete and easy to follow, and there are tons of free themes and apps that you can use to make your store look and function as you intended. The platform also has an analytics and reporting tool that enables you to monitor your online store’s sales, marketing ROI, and more.
Shopify is one of the best, but it does not offer a free plan. The company used to offer free trials, but with the rise in online store usage, they have eliminated that option unless you work with a Shopify Partner who will help you build your store without having to pay for a subscription yet.
Once you've chosen a platform to work with, it's time to start building your website! Follow this guide on the first steps to building a dropshipping store to get you started.
Finding the right product is of great importance in dropshipping. You can’t randomly choose a product and pray that it will work! That’s the worst decision you can make in any kind of business.
There are so many ways to find products that can help you jumpstart your dropshipping business. Huge eCommerce sites like Amazon and eBay provide a great opportunity to find good products — if you have the patience to manually search for products that perform well.
If you know what niche you’ll be focusing on, it’s easier. Still, you have to scroll through several results before finding one that has performed well in the past (based on the number of sales) and still performs well currently (based on recent reviews indicating people still buy it today).
Remember that time is money: if you spend hours upon hours of your time looking for a worthwhile product, you’re not making proper use of your investment (which is time). As such, it would be best to use a spy tool for this task, one like Anstrex.
Anstrex Dropshipping is designed for beginner dropshippers, but pros will surely see the benefit of using this tool. Not only can it help you with searching for viable products for your niche, but it can also help you actually manage your online store if you are using Shopify. You can choose a product and then upload it to your store with a single click! You can even use Anstrex to process orders and update inventory, all in one place.
Visit our blog post on automating your dropshipping business to learn more about this can be done.
If we were to ask successful entrepreneurs what the most important part of starting a business is, I'm pretty sure they would say it’s customer acquisition.
Getting new customers is usually the hardest part of your dropshipping business, which is why you should begin with some simple strategies like leveraging existing relationships with potential customers. If you have the budget for it, advertising on the right platforms can help you, too!
There are two main sources of sales you should focus on, and that’s organic traffic and paid traffic.
Organic traffic can come from SEO clicks and naturally-obtained social media referrals (read: no ads). You can market your dropshipping business with Facebook, Instagram, and other social networks — just make sure you have created a strong brand identity before launching. This is crucial for long-term success since you want to grow your audience over time and not risk losing them by changing direction too quickly.
As soon as your business starts to grow, you should focus on building a blog and constantly writing new content for it. It is such an important aspect of any online business; I can't stress this enough! If people find value in the information that you are sharing with them then they will be more likely to buy your products. Plus, a blog can help build your website’s reputation, increase your SEO ranking and bring you more free traffic.
It is a no-brainer that if you have money to invest in your business, you should start it using paid traffic. This will give you a huge boost over the competition and help you get new customers faster.
If your marketing budget is limited then I would recommend starting with Facebook ads until you have built a customer base that is large enough to support other types of dropshipping business marketing strategies like native advertising and push notification ads.
While you don't need a huge investment to start your dropshipping business, it doesn't mean you won't be investing at all. You still need money to put up your virtual storefront and to purchase items that you will ship to customers once an order has been made.
You also need to be prepared to spend plenty of time keeping your business up-to-date, working on its promotion, and finding new products for it.
Thankfully, with Anstrex Dropshipping tool, you can automate dropshipping tasks for free! All you need to do now is attract customers to get your store up and running.
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