Do you want to get into dropshipping but afraid you won’t make a profit? Without the proper research and preparation, you’ll find that dropshipping won’t be your easy ticket to riches. However, by paying attention to your competitors and creating a strategy, you can raise your profits.
Read on to learn all about how to raise your dropshipping success rate!
What Is Dropshipping?
In today’s Internet-connected world, dropshipping has become a prolific way to make money online and for consumers to have products shipped to them that they desire. Dropshipping refers to e-commerce stores’ ability to ship products to customers without needing a massive stock of inventory.
Instead, e-commerce stores outsource the fulfillment of their products to a third party. Although dropshipping makes it simple for entrepreneurs to fulfill orders, they also have to keep in mind that it is a double-edged sword, if not done correctly, it can cause significant loss of money (ex. high rate of return due to bad quality products) and consequently decrease your dropshipping success rate.
Improving Your Dropshipping Success Rate
Although this seems like an easy and lucrative way to make money online, you need to remember that thousands of other people think the same thing. Competition is stiff, and the dropshipping costs can significantly drive into your profits.
However, there are a few things you can do to improve your business!
1. Find the Right Niche
Before you even get started dropshipping, you need to make sure you’re targeting the right niche. If you target the right niche, you’ll find that the competition will be low.
Take into account these questions when you’re considering what kinds of products to dropship:
- Are customers able to easily obtain the product locally?
- Is there a high demand for the category of the product?
- Is there a lot of competition?
- Are these products fragile or perishable?
By focusing on one specific niche of products, you’ll also be better able to market effectively for them. Although it may seem like offering a wide variety of products makes the most sense for maximum exposure, you’ll need to remember that the same consumers of one product won’t necessarily be interested in another.
For instance, if you’re dropshipping makeup, the same group of people probably won’t be looking for food containers at the same time. Even worse, if you’re marketing both makeup and food containers, your social media accounts, website, and store just won’t make sense to viewers.
2. Choose Profitable Items
Once you find a suitable product that consumers aren’t able to easily buy locally, isn’t perishable or fragile, that has a decent amount of demand, you’ll want to make sure you can make a profit from it. In order to get some ideas, check out the best selling lists on Amazon or eBay.
Remember that purchasing items in bulk may help lower your costs if you’re confident in their potential.
3. Find the Best Supplier
One of the main issues impeding a profitable dropshipping business is the fact that you can’t control the quality of your items. Since you’re relying on a third party to fulfill these orders, you won’t be able to see the quality of the items before they ship or how the supplier is packaging them.
The best way to ensure you’re selling quality products is to find a quality supplier.
While choosing a supplier there are a number of things to consider, for example, the quality of the products sourced, the way they handle returns, the average shipping times, the services cost, and more.
If you need someone who can help you find some of the best products on the Chinese market, while providing a dedicated customer service that can assist you in dealing with any problems that can arise with items or shipping, you answer is Yakkyofy.
4. Buy a sample
In order to keep your customers happy, the products’ quality is very important, that’s why we suggest for you to request the shipping of a few items from them and see what the experience is like! If you are selling products of a good quality, you are twice as likely to get returning customers to your store.
5. Test your products with Ads
Running a few test ads can help you understand better what type of products catch your customers’ interest, and consequently can help you decide on which ones invest your time and effort.
6. Avoid products you can not ship
You should avoid at all costs all the products that cannot be shipped, for example agriculture products, flammable products, plants, counterfeit products, etc.
7. Avoid products you can not advertise
There are some types of products that cannot be advertised on Facebook, Instagram, Google, etc. If a product cannot be advertised, you are going to have a hard time selling them. Some examples of this kind of products can be: unregulated supplements, adult products, counterfeit goods, tobacco products, spy or surveillance equipment, etc.
8. Create an Irresistible Website
Your website and storefront are the hubs of your business. With that in mind, you’ll want to create an irresistible website that speaks to your target audience that wants to purchase the products you have for sale.
First, you’ll want an intuitive website that’s easy to navigate. Customers shouldn’t have to take more than two mouseclicks to navigate to the webpage they’re looking for. Make the checkout process as easy as possible and remove unnecessary steps.
You’ll also want to make sure that your website is designed with your brand in mind.
Here are a few aspects of a well-designed website:
- Logo: This is the face of your brand that creates an impactful first impression
- Typography: Use only two to three typefaces
- Color palette: Choose colors that represent your brand’s personality
- Imagery: Your photos and graphics need to have similar looks and feels
Once you have your visual brand locked down for your website, you can use these same branding guidelines for all your advertisements and social media.
You’ll want to make sure you’re optimizing your site for SEO. Although this is a huge topic on its own, you’ll want to make sure you’re consistently producing quality content that your target audience will find helpful and entertaining.
Create a Successful Dropshipping Business
Don’t forget about customer service! Customers will always have questions about the delivery times for their orders, questions about returns, and more. If you feel overwhelmed with the customer service portion of your business, consider hiring a third party in the future as well.
With some time and research, you’ll find that you’ll be better prepared to improve your dropshipping success rate. From finding the right items to choosing a high-quality supplier to fulfill your orders, you’ll be setting yourself up for long-term success.
Any business can thrive if it has the right partners. This is especially truth in a dropshipping business, since you do not get to see or touch the products that are shipped to your clients. If you want to increase your dropshipping success rate, it is very important to choose the right partner. Someone on whom you can rely on, someone who can check the quality of the products shipped for you, and someone who you can get in touch with for any problems or queries on your parcels and items.
The best partner you can possibly find is Yakkyofy. We offer an all-round service, from the sourcing of over 12 million products present on the Chinese market to the fulfilment of all your orders. With us, managing your dropshipping business can be easy and straightforward.
So what are you waiting for?