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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
4 Dropshipping Hacks and Tips to Take Your Business to the Next Level
With Amazon reporting fourth quarter earnings of $60.5 billion, it’s no wonder that more and more entrepreneurs are entering the dropshipping space. There’s obviously a lot of money to be made in being in ecommerce, acting as the middle man between wholesalers and consumers.
With Amazon reporting fourth-quarter earnings of $60.5 billion, it’s no wonder that more and more entrepreneurs are entering the dropshipping space and even using Amazon as their selling platform. There’s obviously an amazon business opportunity and a lot of money to be made in being in e-commerce, acting as the middle man between wholesalers and consumers.
However, setting up a dropshipping business so it achieves this type of super-high level of success isn’t easy. It can be doable though, with the help of a few valuable dropshipping hacks and tips. Here are four to consider.
1. Offer a Niche Product Line
If you’re sick with a rare disease, wouldn’t you rather see a specialist—someone who knows your condition inside and out—than your regular primary doctor? Of course, you would. You’ll likely pay more too, but the tradeoff is worth it because you know that you’re getting the best care from the most experienced person. Well, the same is true with dropshipping.
If you can establish yourself as an expert within a certain product niche, you stand to make a higher level of profit because you will be seen as an expert in the field. Some of the top niche product lines for 2018 include: quick-grab healthy foods and drinks, indoor herb growing kits, and tea designed to detox your body.
2. Establish Stellar Relationships with Your Suppliers
Do you have customers that you love enough to go above and beyond for? You know the ones. They’re the people who make being in business easy and fun because they’re your biggest supporters. They’re always making reorders, giving you great reviews, and singing praise for your company to the rest of the world.
That’s the kind of person you want to be with your suppliers. The easier you make it for them to do business with you, the more you make reorders and share how wonderful they are with your consumers, the more they’ll enjoy working with you. And the more likely it is they’ll be willing to do more for you, just because you’re such a great customer.
3. Improve Your Process for International Deliveries
One major benefit of having an ecommerce business is that you can reach customers from all over the world, so you’re not confined by geographical boundaries. That being said, one drawback of having an ecommerce site is that you can reach customers from all over the world, potentially creating shipping-related nightmares if you don’t structure your process correctly.
To do this, many companies are utilizing ePacket Delivery. Never heard of it? Oberlo explains that ePacket delivery “is an agreement between the US Postal Service (USPS) and Hongkong Post” and offers benefits such as faster product delivery at a lower cost. That makes this option a win-win for both the business and the consumer alike.
4. Be Like Your Competitors, But Not
Excelling in any business requires that you know your competition, and dropshipping is no exception. The more you’re aware of what they offer the consumer (and what they don’t), the more you’re able to provide even better service, cornering a larger part of the market.
Take some time and really delve into your top two or three dropshipping competitors. What does their website look like? How easy is it to use? What are some of the things their customers praise them for doing? What are a couple of their consumers’ biggest complaints?
Once you have this information, design your dropshipping business so it offers the same type of value but without the drawbacks. This can place you ahead of your competitors, solely because you listened to what the consumers want.
Dropshipping can be extremely profitable, as long as you set up your ecommerce business correctly. These hacks and tips can help you do just that.
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