Friday, September 27, 2019

Dropshipping is one of the most promising business models in the entrepreneur world. It is a rewarding business for some and still continues to encourage more people to start their own. This business assures many to deliver positive outcomes.  This gives more challenge to dropshippers as it also increases the competition in the business. 

Is dropshipping a profitable business method? Yes, dropshipping is a profitable business method. Although a larger portion of people present declarations that dropshipping is not a profitable business model, it is proven to have been a reliable source of income and is expected to give stability to those who have attained their business a success.  

What Makes a Profitable Dropshipping Business A Success
There are several ways to measure the accomplishment of a business. Each criterion is based on the expectations laid out on the plan stated to foresee the outcome of the business. This part is somewhat being eliminated by those who aimed at starting to drop ship which later on turned out as a failure.   

As we go along,  we want to address how we can become profitable in the dropshipping business.

Right Product Niche 
We have made our point on how much the product niche makes a difference between the competition of dropshipping business owners. This is the foundation of dropshipping. Most dropshipping stores cater to multiple product niche. This is strategic because some items may not be as trending, or result in a higher income compared to the rest.  

One benefit of dropshipping is the flexibility to sell multiple product niche at once on your online store. Because there is no inventory needed, all you require is a reliable supplier to give you access to hundreds of products online without worrying about a warehouse. 

Targeted Advertising Strategy
Another crucial part to consider in becoming successful in dropshipping is the way you do your advertising.  While product niche acts as the foundation of dropshipping, advertisement is the life of dropshipping. The competition as it is too tight and crowded, many dropshipping store owners invest most of the revenue to advertising. 

Luckily, there are several ways to advertise your store. Thanks to technology, we can reach thousands of potential customers by using the internet. We have cited ways to promote your dropshipping business and listed ways you can effectively promote your store. Here you can find interesting ways How To Advertise Your Dropshipping Store. 

Highly Trained Customer Support
Customer service is everywhere. We cannot eliminate customer service in any type of business. The primary reason why we have a business is that we offer products and services to our customers. This is not only applicable to hospitality services, food industries, travel, and leisure. Customer support is also essential to the retail business.  

Customers will always ask questions about products and services. The customer service team works as the front liner and represents the business. One of the major roles is to answer queries. Their role is to ensure that customers are happy with the service, and the products a business provides. 
Policies, rules, and regulations are outlined in any business to ensure fair retail practice that protects consumers and business owners.   That makes training customer support team very important. Proper customer handling is really necessary that it could create a good impression, maybe the worst experience for the customer.  

In dropshipping, there are a lot of ways customer support is needed for.  Some of the many supports required in dropshipping is Taking Care of Out of Stock Products, Dealing with Returned Items, etc. 

Competitive Product Pricing
In a sea of competition, the price difference of each product is what will matter to customers. As a consumer, we want to give our money’s worth. We cannot sell items at a more expensive amount especially that competition is very high in dropshipping. Otherwise, you will not be able to sustain the business.  

To make it easier for some dropshipping business owner, a helpful tip would be to check the price list of your competitors. You may adjust your price list at a competitive rate. This means you can lower your price while still earning money. Or check any ongoing promotions available.  

To help us with setting up the margin on each product, let us help you to determine What is the Average Margin in Dropshipping.  This will give you an idea of the methods you can use to set a margin on the products you want to sell online. 

Well Researched Business Plan
Getting into the business is easy given that you have all the knowledge you need to put up your own. In modern technology, data can be accessed easily by anyone. It would only require your internet connection and computer. However, this is a part that is missed most of the time.

Dropshipping, compared with other business models is convenient to set up. This is most likely one of the simplest because you do not need upfront costs and inventory. With these reasons, many are generally encouraged to begin their business in dropshipping.  

This is not advisable. As mentioned in one of our posts: Why Most Dropshippers Fail, those who got too emotional to start dropshipping and quit because they did not get the outcome they expected is one of the major reasons why a dropshipper fails.  

Catchy Store Website
Although a catchy store website is not a requirement when selling, it is going to make a difference if you have a nice looking website. Customers are more likely to visit the website if it is appealing.  Plus, it will attract buyers more if you have engaging promotions. 

These are just some tips to overcome common challenges in dropshipping. Although these do not guarantee confirmed results at least it can guide and give ideas to be more effective in dropshipping. 

Friday, September 20, 2019

One of the standard queries of customers regarding dropshipping is tracking orders.  A huge number of orders in dropshipping are accomplished in China. Because of this, it may take longer to process orders.  Besides, tracking orders is one means to secure our business by being trustworthy to our customers. 

How to track orders in dropshipping? There are several resources we can utilize to track the orders. The most popular methods are App / Software Plugins, Online Tracking System and Customer Service inquiry. This level of convenience is greatly enjoyed by customers who remain to patronize drop shipping to buy products. 

Moving on with order tracking, let us explain the course of events after an order has been placed.  By doing so, we would have an idea of the turnaround time to fulfill an order and how we can deal with customers who will ask about the status of their order. 

Dropshippers put up a store or an app or a website where the order can be placed.  Also, you can use this to view the status of the order and communicate with the customer.  As we go along, we’ll talk about the process and how a customer can view the status of their order using an app, or a software plugin. 

Ideally, the initial process should’ve been to browse the products on sale.  The customer will choose the product he desires to purchase and make that payment.  Although there are several ways to pay (using a credit card, PayPal, Cash on Delivery, Over-the-Counter payments, etc.) once the order has been placed, the details of the order will be sent to the supplier for processing. 

An email will be sent to the customer as an acknowledgment of the order made by the customer.  It normally contains the details of the order and customer details. The suppliers must verify the availability and let the customer know should there be an out of stock item. 

Approved items will be processed by the supplier and prepare for handling and be delivered to the customer by a courier service.  At this point, the details of the order may be available to the customer for tracking. They will get a tracking number of the order which they can use to refer to the order they made.  An estimated timeframe will be shown to the customer.

On the other hand, customers also have the option to trace the order using an online tracking system.  This could be the website of the freighting company or a universal tracking tool that is available to anyone who has access to the internet.  If the customer is unable to see the order status using the store’s website or app, this option is readily available to everyone. Accessible and free of use. 

We have noted a few reasons why customers will course into checking online account systems to view their order status.  But before we go to theses reasons, let us know what the following status means and how we can manage them. 
There are two main causes if the order is on pending status.  
(1)  Stock not available.  The order is not authorized by the supplier because the item is out of stock.  Earlier we presented that it is the responsibility of the seller to update the customer when the item is not available.  If so, options to offer a different product variant, or refund (if paid) the payment to the customer. 
(2)  An issue with the payment.  Customers have multiple options to pay the order.  Should there be an error with the payment, the order will be placed on pending.  Sellers should not process the order at this point. The buyer is responsible to resolve the payment issue.  They may, later on, proceed with the order if this has been cleared. 

Commonly seen when the order was processed and a tracking number has been provided to the customer.  Generally, it takes 7-15 days to deliver the item depending on the location. There may be customary measures being followed to complete the shipping.  This is accounted for when giving out a delivery timeframe to the customer. 

The status will change to "delivered" when the order has been accepted by the customer. There are times when customers use a mailing address such as PO Box. If so, the customers need to go to their mailbox to check the order. 

For Pick-Up
This status is applicable commonly if the address of the customer is not included in the areas where door-to-door delivery is possible. The courier service will leave the package to a partner hub, or post office and then send an update to the customer that the product is already available for pick-up.

The package was not delivered to the customer due to several reasons.  
  1. Invalid/ Incorrect Address
  2. Incomplete Address (Bldg, Unit Number, etc.)
  3. The intended recipient is not available, or no longer at the address.
On the list above, pay attention to “In-Transit” and “Undelivered”.  

To handle queries of customers asking for status if it has been stuck to the status “In-transit” for quite some time, contact your supplier to know the details of the order.  They will coordinate with the shipping company to know the status. Possibly, the updated tracking details will be given to the customer for status. 

If the status is “undelivered” then the seller needs to contact the customer and ask for the correct details.  Otherwise, it will further delay the delivery. As a best practice, we may ask for the mailing address to ensure that the address is valid. 

The technology in shipping has already improved and most of the transactions are manageable online.  Another advantage of dropshipping as a business model. You just need to ensure you partner with a reliable supplier to fulfill your orders.  

Multi-Drop is a good way to manage these queries because we offer a one-stop-shop starting from the product description, research, and analytics, to customer service.  Join us and let us help you with your dropshipping needs. 

Monday, September 16, 2019

E-Commerce is a modern means of business in this generation and is expected to keep growing in the following years.  Dropshipping is one of the models in e-Commerce used to sell goods and supplies to customers. At this point, people are showing interest in dropshipping to earn money. Let’s know why that is the case.

Why do people get attracted in having their own dropshipping business?  People are going into the business because dropshipping promises results to the people and is straightforward. Comparing it with a conventional store, it does not require inventory and big capital investment because most transactions are done online. The competition is very tough that we see plenty of advertisements related to dropshipping. 

Is Dropshipping Still A Good Business in 2020?
Dropshipping is a good business model. Steep competition is a good sign that it is a stable business to invest in. It is an implication that the demand is high in the market and there is a need for more dropshippers to supply the needs. I guess the right question to ask is, how to handle the competition in dropshipping. 

When we decide on choosing a business to operate, one of the things to consider would be the ability to develop in the field. In the dropshipping profession, there is so much to improve and learn. This is a very challenging role because as mentioned, we have high stakes of competition. Among these challenges, we need to learn Why Most Dropshippers Fail.  

As an entrepreneur, our goal is to earn and expand the business. Generally, we can say that dropshipping is a good business model in 2020. The technology continues to develop its scope. And the way to survive is to work towards the demand while integrating with technology. This my friends makes dropshipping a viable business.

Customers are leaning towards convenience and most operations are influenced by technology. Although, there would still be people who will traditionally do retail, which is fine. We want to acknowledge that the majority of potential customers are millennials and are highly adept to technology. Did you know that millennials, people who are born in 1982-1999, spend an average of 6 hours online?  

These same people are becoming part of the working class. Their decisions are influenced by technology and are always seeking for convenience to becoming productive. This reasoning is the major reason why dropshipping demands consistently goes up regardless of the competition.  

Due to the expectations in competition, we need to be “in the know” of what trending products, software, strategies there are to beat the market. As discussed on our blog Why Most Dropshippers Fail, we cited reasons for failures of every dropshipper and one of it was being too emotional to work as a dropshipper.  

There is a high percentage of people failing dropshipping. 7 out of 10 dropshippers fail in the business. We do not want to become part of the 70% of people failing in dropshipping, right. As much as possible we want to know  What Tips Can You Share With People Who Want To Succeed In Dropshipping

Is Dropshipping Worth It, Generally Speaking?
Yes, dropshipping is worth it.  The dilemma in spreading the word of dropshipping also has a disadvantage.  Because there is a rise in people who join the business of dropshipping, there will always be those who will share their negative experience as a dropshipping business owner.  This is normal. As mentioned earlier, there is a bigger ratio of people who fail rather than those who succeed. 
You will hear discouraging remarks in dropshipping.  But looking at a broader perspective, dropshipping is good and worth it knowing that it is convenient for most people who do not have enough funds and want to change their regular working routine.  Not only that it provides a source of income, but it also rewards you with skills you can improve as a business owner.  

You want to concentrate on getting more tips from successful store owners by joining forums, and groups that deal with dropshipping.  Here you will face the real, on-hand experience of successful people and share honest opinions about the job you are looking into.  

Dropshipping encourages good outcomes both in terms of monetary and as a rewarding accomplishment.  Although, it surely requires a great measure of hard work and challenge. To survive the demands, and the challenges that may occur as you go along the business, it is very important to find a reliable support system in dropshipping who can attend to your needs as a seller.  

Multi-Drop is a dedicated team to support you with your needs in dropshipping. You are looking into working with a highly experienced team who are accommodating and professionals. They lead sellers towards achieving a good practice from shipping, product descriptions, clear product imaging, and even customer support. 

Visit our website so you can start having the support you need in setting up, working, and becoming successful in dropshipping. You may also send us an email for inquiries. We, at Multi-Drop, is always looking forward to working with people who are passionate and excited about becoming successful in dropshipping. 

Monday, September 9, 2019

Affairs made online is everywhere. One of these activities is retail shopping. There are several means to buy products. And one of them is through dropshipping. Dropshipping remains to grow because of the tactics used to encourage sellers, in turn drawing more buyers, and also those who desire to start their own. 

Where do people sell dropshipped products? Dropshipped products can be marketed anywhere. Because of the versatility to negotiate, traffic is not limited to a specific location. The products sold from a dropshipping store are sourced from wholesalers abroad, most of the time in China. Hence, does not influence the location in terms of sales in dropshipping. 

Big Four in Dropshipping
Granting the flexible freighting locations and the broad range of customers we can get to dropshipping, we want to study where to target our marketing efforts. We understand the significance of marketing in dropshipping. Working smart is equally necessary so that we can maximize resources such as time and capital. 

During your research, you might have encountered the “big four” in dropshipping. This is suggested by fellow dropshippers who give their opinion on how to improve sales for your store. What is the “Big Four” in dropshipping?

The Big Four represents the top 4 countries where dropshipping is the best fit because of the market, sales, and quality. The following countries are part of the big four: United States of America (USA), United Kingdom (UK), Canada (CA), Australia (AU). 

The Best Countries to Dropship
When asking for pointers and suggestions, you will always see a guide to sell your products in these countries. One of the most common questions being asked is for suppliers that can produce quick delivery on these countries because they have the biggest market of dropshippers.  

Based on experiences, customers located in these countries make more purchases compared to other countries. As a dropshipping store, you aspire to target a market where you can get more customers. Also, the population of these countries is high, which then gives more chances of earning more. 

Besides, these countries are highly developed and provide good locations where delivery is convenient.  It will not be difficult for dropshippers to distribute products to customers in these countries. More warehouse is settled now in the US to extend the scope of delivery while sustaining efficiency.

Another reason to dropship in these countries is the ability to connect to more customers because of technology.  As a dropshipper, we can increase our influence using marketing plans linked to social media and other means of technological advancement.  The language that they speak is English.  

Moreover, these countries value time due to an active schedule.  They prefer making transactions online to maximize their time. These people acknowledge convenience too much which is a primary advantage of dropshipping.  Prices are also more economical compared to large retail organizations. 
List of Countries Where Dropshipping May Not Be Suitable
On the other hand, there are places where dropshipping may not be appropriate due to several reasons.   Although the network is universal in dropshipping, you might want to lessen the efforts on these locations so that you can concentrate further on the primary areas which you can gain more customers.

The list we are to present is based on collective data gathered from various sources such as forums, discussions, and groups that support dropshipping.  The countries where dropshipping may not be suitable, (not in a specific order) are the following: India, China, and Indonesia. Let us talk about it more and examine why we listed them as “inappropriate” countries for dropshipping. 

Earlier we spoke about geographical factor and population as one of the grounds why we consider countries to target in dropshipping.  While India is one of the countries with high rates in populations, it is not fit to do a dropshipping business because the traffic we produce from the location does not generate enough sales.  It is determined that we get more “clicks” or site visits from India, yet the sales are relatively low.  

Indians like window-shopping products on sale through the internet but generally, do not proceed with the order.   Strategically, if we concentrate on targeting this country, we will be more inclined to create high traffic. But it will not be profitable for us because the sales are weak. 

Another country to be wary of exceptionally when starting up would be Indonesia.  There is a high rate of fraud. For starters, even for established dropshipping business owners, it is not likely to negotiate because of high risks of fraudulent activities.  

You may be earning enough by targeting this country but in return, if identified to be fraudulent, you will lose a customer due to bad ratings.  Regardless if we sell genuine products, due to a bad reputation, we might also be tagged along. As a business, we do not want to be involved because all our efforts will be put on waste. 
Most of the suppliers of dropshipping are based in China.  They produce low-cost products which are reasonably better as we can increase the margin and make more profits.  This is a fact and is the main idea why most products that are acquired from a dropshipping company needs longer to accomplish items and deliver to customers. 

Contrary to this statement, as much as possible, we want to source our goods from other countries.  Not because of quality or the interval to deliver the products to our customers. We want to avoid China because of competition.  

Chinese customers recognize active sources of the products. You might be able to sell these products.  But surely, they can get it at a lower price because of competition. Obviously, they would consider making the purchase from them rather than get it from a dropshipping store.  It is just practical. 

Given the discussion, we want to operate smart and be decisive in making our store strong.  I understand that there are several factors to do this. One of the benefits of dropshipping is being able to get assistance and knowledge utilizing the internet.  It will help us be cautious.  

To be successful in this profession, it would help to partner with someone who has extensive experience and expertise in dropshipping.  Just like Multi-Drop. Our goal is to help dropshippers succeed. Your success in the business is ours, too.