Considering that only 10% – 20% of dropshipping businesses succeed, the pressure is real!
Compared to physical stores, online businesses, including dropshipping, compete with many others globally instead of a few local competitors, making it hard to be successful. However, that does not mean you cannot be a successful dropshipper.
Remember the 20% who succeed? You can be one of them!
Dropshipping can be incredibly rewarding if done right. Unlike common perception, it is not an easy way out that gives you thousands of dollars in the first month. Like every business, dropshipping requires persistence, commitment, and strategy.
So, let’s dive into the essential strategies that can set you apart from the competition.
Tip 1: Find a Reliable Dropshipping Supplier
There, we said it!
A reliable dropshipping supplier is like the genie that has the ability to fulfil all your wishes. A wrong dropshipping supplier can drown your business even before it sails properly. Your supplier is the backbone of your business. A good supplier means happy customers; a bad one can spell disaster.
So, always research and find out the best suppliers that not only promise high-quality products and top-notch service, but also live up to their word.
If you’re unsure about finding credible vendors for your business, get in touch with us to know how to find suppliers with a strong reputation, who offer quality products and reliable shipping. Plus, we’ll talk about the importance of branding opportunities like custom packaging, and go through the steps to thoroughly vet potential suppliers, from ordering samples to checking their communication responsiveness.
Tip 2: Focus on a Profitable Niche
Moving further, the second most important element of a successful dropshipping are the products you sell. When finalizing a vendor, you need to pick the products you want to sell, to ensure they have those products or can arrange them. So, products are the first thing you decide when you decide on starting a dropshipping business, even before the vendor.
But, there’s something else you need to do before selecting the products. You guess it right: finding a profitable niche.
Most dropshippers stepping into the dropshipping world think “I’ll create a general store and sell everything; why complicate!”
Though it’s correct to some extent and takes away the worry of finding niche products, it’s not the best idea. Ecommerce platforms are overcrowded with general-niche products, making it harder to reach the target audience. Customers usually prefer stores with an established presence to avoid scams and low-quality products.
However, specializing can drastically boost your success. A focused niche allows you to become an expert rather than a generalist. Survey the market and the region you wish to cater to. It will help you understand trending niches and products, enabling you to stand out of the crowd by offering in-demand products to your customers. Learn how to identify these niches and tailor your marketing strategies to attract a dedicated customer base.
Tip 3: Provide Excellent Customer Service
Customer service is often an overlooked part of the business establishment process. In the past, it worked out because people had lesser options and even the rude shopkeepers would get customers from nearby areas.
With changing times, businesses have had to become more customer-centric, which includes providing unparalleled customer service to ensure your buyers do not move to other sellers. Retaining a customer maybe a little tricking in the beginning, but it costs less than acquiring new customers for the business. The cornerstone of any successful business is how well it treats its customers.
So, if you also want to become a household name and wish to leverage the power of word-of-mouth marketing, work on your customer service as much as you focus on product selection and order fulfilment. Customers are the most-trusted ambassadors for your business when they share good words with their friends and family. One happy customer can bring in many other buyers who might become returning customers.
Bonus Tips on How to Be a Successful Dropshipper
While these three business tips are crucial to the success of any dropshipper, there are a few more to help you become the top one in your niche. Check out these bonus tips for a successful dropshipping business:
- Instead of following orthodox, manual methods, leverage automation. Integration and automation software can ease and make business convenient for you. You can manage everything manually from inventory management to order fulfilment and customer relationship management through automated software.
- If your supplier does not provide visually appealing photos of the products, take the matter in your hands and get professional product photography done for the products. It might cost you a bit initially, but remember ‘what shows, sells.’ So, do not hesitate to invest a little into a few products’ photography first and see how it works out for you.
- When starting out, price your products in the lower price bracket. It helps bring in sales and eventually build trust. Pricing your products high initially might impact your store negatively as customers might prefer established stores when paying higher.
- Optimize your store for the search engine. A qualified and experienced search engine optimization expert can provide you with the right keywords and implement suitable strategies to improve the visibility of your products on the search engine result pages (SERPs).
- Hop on the latest social media trends and make relevant videos to market your products. Instead of posting your products online from a seller’s perspective, focus on elements like problem-solving, aesthetic value, and trendiness to make the content relatable for the audience.
- While we mentioned how you must provide top-notch customer service, treating your employees well is equally important. If you have a team, do not overburden them, and offer creative leverage. Who knows, you might get some crazy good ideas!
Are you ready to elevate your dropshipping game? Implementing these tips will not only help you avoid common pitfalls but also build a thriving, resilient dropshipping business.
Check our website for more resources and tools to get you started.
