10 Things You Need to Know Before Starting a Dropshipping Store
Success in an e-commerce business is thoroughly dependent on knowing the do’s and don’ts of the business. DropShipping is a growing business model where there is lesser risk, more profit and less investment as well! The seller does not need to maintain any inventory for running the business. In our prior posts we gave an insight on how to start your own DropShipping store with few simple steps. But apart from the how-to of anything, we must know some tips and tricks to avoid future hurdles and reach better profit margins and conversions!
- Marketing is the key to success
As in DropShipping, most of the work is done in a virtual manner, it is equally important that your product reach all your customers. Although deciding brand name, designing logo and setting price tags are interesting task to do, marketing is the mantra to success. With proper marketing tactics and skills, it ensures your business is known to the potential customers who can help you reach higher profit rates! Therefore, concentrate on the marketing strategy
- Put proper price of the products
The product pricing affects a lot in the business. Because overpricing and under pricing, both can be fatal for the business. It is therefore advisable to maintain a fair price which is at par with the wholesale price. You may often notice your counterparts to reduce the product price to such an extent that it may even influence you to do the same. But remember to maintain your product price to a profitable range. It is also essential to upgrade the average order value to make more profits from the business
- Promotions and Offers
60% women in the US look for promotions and offers while doing online shopping. Don’t be the one who never promotes and offers in the store. Then you would probably be considered boring and lose customers. Include periodic offer or sales so that people keep waiting when this store is going to start sales. It will automatically increase your customer base as well as increase the average order value of your store
- Attractive Website UI
This is going to be the game changer of your business. The customers will get the first impression from the presentability of the ecommerce website. It is awful to have a clumsy website with no home page, improper product categorisation. A user friendly website interface will let your customers to have a seamless shopping experience. So, ensure the website is user friendly and well designed. You may look for other websites in your niche about how they present their websites and what all features are included to increase the viable.
- Choose a reliable DropShipping supplier
The DropShipping supplier is the one who will do the entire task on behalf of you starting from packing, shipping, delivering and handling returns. It is important to choose a reliable supplier who takes nominal charge and does the work efficiently. If you find the supplier to be delivering faulty products or not delivering in time, then you can simply replace the supplier
- Remarkable customer service
Customer satisfaction can either make or break your entire world. When you are on the run that many are already running, make sure to include something extra that makes your clients to stick to your products or service. Include complimentary gifts for clients who have bought more than a certain price range, promote giveaways to old clients and surprise written card just to make them feel happy. When you make a happy customer, you gain 10 more!
- Observe your counterparts
Your counterparts in the same business can give you a fair idea of where you stand. Look for their social media handles and see what kind of products they advertise more. See how people react to their products and what demands are they making. This will give a better idea of expanding and making amendments to your marketing policies
- Pick the right products for your store
This part needs a bit if research before making a decision. Look for the products which are more in demand and which class of people are more likely to buy these items. For example, selling cosmetic products requires knowledge on what brands are mostly preferred by women or do they look for affordable or high end products. In the same way, you can upgrade your product categories
- Include trust badges
Trust gets the highest priority and if your clients don’t trust your store, they won’t make a second visit. You may have come across a green bar in the URL bar of most ecommerce websites. It means that website has a trust badge associated. Trust badges ensure all your vital and private information are secured. Include trust badge in your website to oomph up that trust factor of your website.
- Efficient return and refund policy
Many customers may return the product and it is important on your behalf as a seller to look after seamless refund and returns. Be clear on your return and refund policy so that it should not create any extra talks about the return policy. And also be very clear with the return policy with your supplier as well.
