Thursday, April 16, 2020

Dropshipping All Over Again: What I learned When I Failed on My First Dropshipping Store

Who among you guys has started drop shipping due to impulse, successfully set up the store and yet ended up losing more than earning? You are not alone. In fact, this happens to seventy to eighty percent of the time for first-time dropshippers. Today, we are up for sharing experiences. What I learned myself as a dropshipper. 

What did I learn from failed dropshipping stores that I have started? Dropshipping brought a bright future for the eCommerce business. So far, here are the things I learned from failed attempts to succeed in dropshipping. 

Not Paying for Paid Dropshipping Trainings
I am sure you have come along posts and ads of paid training to dropshipping. This is a strategy not only to hype the dropshipping business model.  This is also a means to market their products and services. Remember, dropshipping is a game of marketing and traffic. The more traffic you get, the better your business will be. 

I am not saying it is not good to buy paid training for dropshipping.  But know that there are plenty of good reads and posts related to dropshipping.  Also, the experience is still the best teacher. You would never really learn until you experience things first hand. 
Impulse Products For Sale are Good Product Niches 
The key to finding the winning product for dropshipping is to choose products that are in demand yet not easily available on merchants locally.  If you notice, there are products that attract buyers. Something that we sometimes do not realize as a need.  

Target Market RIght
At this point, you are already aware that the dropshipping business is heavy on marketing.  We often use social media platforms to promote products. When you are logged in, let’s say on Instagram - there are occasions when you scroll that ads of different products appear on your account.  This is how targetted marketing works. It looks into the profiles of potential customers.  

Given that you are selling impulse products customers will be enticed to check your page and look at the product.  Do not settle for trending products though. Remember, you are looking at a wide competition of dropshipping sellers, too. Your prices need to be competitive and promotions have to be creative to keep up. 
Use Smart Resources
A while ago we discussed using Free Training/ Seminars for Dropshipping.  This time, we want to impart that using smart resources to find winning products can significantly help the business.  First, you use the budget for other more important things in the business.  

You can very well learn how to use Google Trends to search for products.  This is very important when working as a dropshipper because you will consistently look for winning products.  These changes per season. 

After-Sale Emails
After-sale email is found to be an effective way to promote products to customers to continue buying products from your store.  Did you know that most of the time, customers of droshipping will only buy products once from the same store? This strategy addressed the gaps in having low conversions on repeat customers.  Use this to send promotions and attract customers to buy more products from you. 

Choose Reliable Product Suppliers
In dropshipping, it is essential that you find quality products at a good rate so that you can get more profit in return. This is why you will always see sellers looking for a reliable supplier all the time. Few things to consider when finding a supplier:
  1. fast shipping
  2. good price
  3. reliable customer support
With these considerations in mind, we shall keep in mind to find a partner that can deliver quality services, and products too. Considering the market of dropshipping, there are tools designed to increase your profitability and earn more money in return. For one, Multi-Drop is one of the reliable sourcing agents that promise to deliver all-in-on service to Shopify, also eBay sellers to increase earnings by giving quality products, reliable shipping, and full software integration.

Overall, dropshipping is a gamble and the key to succeeding is to keep trying.  There are endless opportunities if you play it right in dropshipping. 

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